Millburn Education Foundation Inc
- Assets
- $546.0k
- Revenue
- $179.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Millburn, NJ
- Founding
- 12/1993
- Data as of
- 07/2022
- EIN
- 22-3242516
Organization Overview
Millburn Education Foundation Inc is located in Millburn, NJ. The organization was established in 1993. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Millburn Education Foundation 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 07/2022, Millburn Education Foundation Inc generated $179.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $172.3k during the year ending 07/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 7 years. 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
TO ENHANCE EDUCATIONAL EXCELLENCE IN MILLBURN PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED GRANTS TO THE MILLBURN BOARD OF EDUCATION AND TEACHERS IN THE MILLBURN TOWNSHIP SCHOOL DISTRICT TO FUND SPECIFIC PROJECTS WHICH ENHANCE STUDENT'S LEARNING EXPERIENCE.FOR THE YEAR ENDED JULY 31, 2021, $140,525 WAS AWARDED TO TEACHERS IN THE DISTRICT FOR DISTANCE LEARNING ENHANCEMENT IN RESPONSE TO THE COVID-19 PANDEMIC. ADDITIONALLY, $163,150 WAS AWARDED TO THE MILLBURN SCHOOL DISTRICT FOR SOFTWARE LICENSING AND GENERAL SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abigail Speltz Co-Chair | OfficerTrustee | 5 | $0 |
Sharyn Stein-Berezin Co-Chair | OfficerTrustee | 5 | $0 |
Cate Smith Secretary | OfficerTrustee | 2 | $0 |
Heather Jenquine Treasurer | OfficerTrustee | 2 | $0 |
Roger Chinchilla Trustee | Trustee | 2 | $0 |
Micole Cohen Richter Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $49,230 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,913 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,143 |
| Total Program Service Revenue | $0 |
| Investment income | $4,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $59,305 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $179,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $142,596 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,043 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,173 |
| Fees for services: Other | $5,725 |
| Advertising and promotion | $926 |
| Office expenses | $614 |
| Information technology | $7,902 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,397 |
| All other expenses | $0 |
| Total functional expenses | $172,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $318,900 |
| Pledges and grants receivable | $0 |
| 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 | $4,631 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $222,470 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $546,001 |
| Accounts payable and accrued expenses | $7,260 |
| Grants payable | $98,251 |
| 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 | $105,511 |
| Net assets without donor restrictions | $440,490 |
| Net assets with donor restrictions | $0 |
| 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 | $546,001 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Millburn Education Foundation Inc has recieved totaling $3,056.
| Awarding Organization | Amount |
|---|---|
Gad And Marlene Janay Foundation Highland Beach, FL PURPOSE: SUPPORT FOR OPERATIONS | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $376 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $270 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $150 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $75 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50 |
Endowment Analysis
| Earnings | -$1,354 |
| Ending Balance | $255,796 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |