Trust Education Foundation Inc
- Assets
- $1.6m
- Revenue
- $384.4k
- Investments
- $1.4m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 08/1976
- Data as of
- 05/2024
- EIN
- 23-7170672
Organization Overview
Trust Education Foundation Inc is located in Raleigh, NC. The organization was established in 1976. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trust 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 05/2024, Trust Education Foundation Inc generated $384.4k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $378.2k during the year ending 05/2024. While expenses have increased by 10.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Niell Chairman | 15 | $0 | |
Lawrence Chambers President | 5 | $0 | |
Jimmy Witherspoon Secretary/treasurer | 10 | $0 | |
Patrick W Alyward Executive Director | 5 | $32,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,500 |
| Interest on Savings | $772 |
| Dividends & Interest | $36,733 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $35,535 |
| Capital Gain Net Income | $35,535 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $305,866 |
| Total Revenue | $384,406 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $32,500 |
| Other employee salaries and wages | $10,500 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $721 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $8,748 |
| Printing and publications | $0 |
| Other expenses | $157,873 |
| Total operating and administrative expenses | $218,589 |
| Contributions, gifts, grants paid | $159,600 |
| Total expenses and disbursements | $378,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $146,565 |
| Savings and temporary cash investments | $35,742 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,389,908 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,210 |
| Total assets | $1,577,425 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |