518 Elevated Inc
- Assets
- $1.9m
- Revenue
- $619.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Albany, NY
- Founding
- 07/2001
- Data as of
- 06/2022
- EIN
- 14-1823014
Organization Overview
518 Elevated Inc is located in Albany, NY. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, 518 Elevated Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 518 Elevated Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, 518 Elevated Inc generated $619.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $504.1k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CAPITAL REGION SPONSOR-A-SCHOLAR, INC. ("CRSAS") WAS INCORPORATED TO PROVIDE SPECIALIZED PROGRAMS, MENTORING, PROFESSIONAL GUIDANCE, AND ACADEMIC AND FINANCIAL SUPPORT FOR QUALIFYING HIGH SCHOOL STUDENTS IN THE CAPITAL REGION. BY ASSEMBLING A NETWORK OF BUSINESS LEADERS, EDUCATIONAL ADVOCATES, AND DEDICATED VOLUNTEERS, PROMISING YOUTH ARE PROVIDED OPPORTUNITY AND ACCESS TO HIGHER EDUCATION THAT MAY BE OTHERWISE UNAVAILABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED FOR: RECRUITING, TRAINING, MATCHING, AND SUPPORTING MENTORS; WORKSHOPS AND COLLEGE PREPARATION ACTIVITIES FOR HIGH SCHOOL SCHOLARS; AND ASSISTANCE PROVIDED TO SCHOLARS THROUGHOUT HIGH SCHOOL, INCLUDING STIPEND DISTRIBUTION. CAPITAL REGION SPONSOR-A-SCHOLAR, INC. SERVES ANYWHERE FROM 80-90 STUDENTS IN THE ALBANY, SCHENECTADY, AND TROY CITY SCHOOL DISCTRICTS AND APPROXIMATELY 160 COLLEGE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Marx Executive Di | Trustee | 40 | $82,425 |
Kevin J Bottini CPA Chair | OfficerTrustee | 1 | $0 |
Jeffrey A Cohn Vice Chair | OfficerTrustee | 1 | $0 |
Conor Bryant Treasurer | OfficerTrustee | 1 | $0 |
Chryesse Wells Secretary | OfficerTrustee | 1 | $0 |
Ross Goodman ESQ Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,482 |
| All other contributions, gifts, grants, and similar amounts not included above | $416,438 |
| Noncash contributions included in lines 1a–1f | $3,700 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $461,920 |
| Total Program Service Revenue | $16,377 |
| Investment income | $30,675 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110,969 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $619,941 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $120,768 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,425 |
| Compensation of current officers, directors, key employees. | $23,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $115,446 |
| Pension plan accruals and contributions | $5,704 |
| Other employee benefits | $24,261 |
| Payroll taxes | $12,791 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,000 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,591 |
| Fees for services: Other | $60,657 |
| Advertising and promotion | $4,823 |
| Office expenses | $7,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $1,822 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $649 |
| Insurance | $7,895 |
| All other expenses | $2,173 |
| Total functional expenses | $504,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,503 |
| Savings and temporary cash investments | $48,916 |
| Pledges and grants receivable | $180,274 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,377 |
| Net Land, buildings, and equipment | $449 |
| Investments—publicly traded securities | $1,659,803 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,940 |
| Other assets | $1,000 |
| Total assets | $1,904,262 |
| Accounts payable and accrued expenses | $3,587 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,587 |
| Net assets without donor restrictions | $398,065 |
| Net assets with donor restrictions | $1,502,610 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,904,262 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that 518 Elevated Inc has recieved totaling $237,202.
| Awarding Organization | Amount |
|---|---|
Carl E Touhey Foundation Albany, NY PURPOSE: PROVIDES SPECIALIZED PROGRAMS, MENTORING, PROFESSIONAL GUIDANCE AND ACADEMIC AND FINANCIAL SUPPORT FOR QUALIFYING HIGH SCHOOL STUDENTS IN THE CAPITAL REGION. ASSEMBLES A NETWORK OF BUSINESS LEADERS, EDUCATIONAL ADVOCATES, AND DEDICATED VOLUNTEERS, TO PROVIDE PROMOSING YOUTH OPPORTUNITY AND ACCESS TO HIGHER EDUCATION THAT MAY OTHERWISE BE UNAVAILABLE | $80,000 |
Mitzen Foundation Inc Saratoga Springs, NY PURPOSE: GENERAL NEEDS | $50,401 |
The Community Foundation For The Greater Capital Region Inc Albany, NY PURPOSE: FOR PATHWAYS TO COLLEGE AND UNRESTRICTED USE | $25,551 |
Edward D Cammarota Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $12,500 |
Make Great Things Happen Foundation Clifton Park, NY PURPOSE: EDUCATIONAL SUPPORT OF ACADEMICALLY TALENTED ECONOMICALLY CHALLENGED STUDENTS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |