Fund For Education Abroad
- Assets
- $2.6m
- Revenue
- $556.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 03/2010
- Data as of
- 12/2021
- EIN
- 26-3041520
Organization Overview
Fund For Education Abroad is located in Washington, DC. The organization was established in 2010. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Fund For Education Abroad 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 12/2021, Fund For Education Abroad generated $556.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.3% each year . All expenses for the organization totaled $492.9k during the year ending 12/2021. While expenses have increased by 20.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE STUDY ABROAD SCHOLARSHIPS AND ONGOING SUPPORT TO U.S. COLLEGE STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING OPPORTUNITIES FOR COLLEGE STUDENTS TO PARTICIPATE IN HIGH-QUALITY, RIGOROUS EDUCATION ABROAD PROGRAMS BY REDUCING FINANCIAL RESTRICTIONS THROUGH THE PROVISION OF GRANTS AND SCHOLARSHIPS. 125 SCHOLARSHIPS WERE AWARDED TO RECIPIENTS SELECTED THROUGH AN INDEPENDENT VOLUNTEER REVIEW PROCESS DURING 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Schaffer Executive Director (as Of 6/2021) | Officer | 40 | $54,674 |
Jennifer Calvert Executive Director (til 3/2021) | Officer | 40 | $48,492 |
Ted Davis Treasurer | OfficerTrustee | 3 | $0 |
Mark Lenhart Vice Chairman | OfficerTrustee | 5 | $0 |
Anne Krieg Chairman | OfficerTrustee | 5 | $0 |
Eric Sanner Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,079 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $484,052 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $488,131 |
| Total Program Service Revenue | $0 |
| Investment income | $64,463 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,255 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $556,849 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $328,173 |
| 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 | $9,592 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,458 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $28,750 |
| Fees for services: Investment Management | $21,818 |
| Fees for services: Other | $23,249 |
| Advertising and promotion | $3,006 |
| Office expenses | $6,729 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,204 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,610 |
| Interest | $4,222 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,687 |
| Insurance | $953 |
| All other expenses | $0 |
| Total functional expenses | $492,897 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $477,191 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $677,276 |
| Accounts receivable, net | $157,500 |
| 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 | $4,644 |
| Net Land, buildings, and equipment | $6,724 |
| Investments—publicly traded securities | $1,288,132 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,611,467 |
| Accounts payable and accrued expenses | $67,838 |
| 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 | $156,645 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $224,483 |
| Net assets without donor restrictions | $0 |
| 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 | $2,386,984 |
| Total liabilities and net assets/fund balances | $2,611,467 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Fund For Education Abroad has recieved totaling $24,808.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $14,708 |
Foundation For Global Scholars Boulder, CO PURPOSE: EDUCATION ABROAD | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $100 |
Endowment Analysis
| Beg. Balance | $1,041,897 |
| Earnings | $96,896 |
| Admin Expense | $10,659 |
| Net Contributions | $160,000 |
| Ending Balance | $1,288,134 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thurgood Marshall College Fund Inc Washington, DC | $121,810,471 | $98,266,975 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |