Kea Educational Foundation Inc
- Assets
- $893.5k
- Revenue
- $62.7k
- Investments
- $856.9k
- Employees
- 0
- Location
- Kodiak, AK
- Founding
- 06/2010
- Data as of
- 12/2021
- EIN
- 27-0897796
Organization Overview
Kea Educational Foundation Inc is located in Kodiak, AK. 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. Kea Educational 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 12/2021, Kea Educational Foundation Inc generated $62.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $58.3k during the year ending 12/2021. 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
CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KEA EDUCATIONAL FOUNDATION GENERATED $62,660 IN FUNDS IN 2021. THIS REVENUE WAS DERIVED FROM THREE SOURCES: 1) CONTRIBUTIONS FROM KODIAK ELECTRIC ASSOCIATION MEMBERS THAT ELECTED TO ROUND UP THEIR MONTHLY BILL AS A DONATION OR ELECTED TO DONATE THEIR CAPITAL CREDITS TO THE KEA EDUCATIONAL FOUNDATION. THESE DONATIONS TOTALED $19,333. 2) COBANK SHARING SUCCESS PROGRAM. COBANK WILL MATCH UP TO $10,000 TO 501(C)3 ORGANIZATIONS. KODIAK ELECTRIC ASSOCIATION AND COBANK EACH DONATED $10,000 IN 2021. 3) INVESTMENT INCOME OF $23,326 WAS GENERATED IN 2021. THE KEA EDUCATIONAL FOUNDATION AWARDED 18 SCHOLARSHIPS FOR A TOTAL AMOUNT OF $47,709 IN 2021
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Freed Secretary/treasurer | OfficerTrustee | 0.15 | $0 |
Ron Acarregui Vice Chairman | OfficerTrustee | 0.15 | $0 |
Jay Johnston Chairman | OfficerTrustee | 0.15 | $0 |
Daniel Menth Executive Director | Officer | 0.15 | $0 |
Michael Brechan Director | Trustee | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,333 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,333 |
| Total Program Service Revenue | $0 |
| Investment income | $23,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,659 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $47,709 |
| 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 | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,572 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $58,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,538 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $856,948 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $893,486 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $893,486 |
| 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 | $893,486 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
College Spark Washington Seattle, WA | $104,693,147 | $3,230,019 |
Pwh Educational Foundation Inc Spokane, WA | $62,473,304 | $11,260,767 |
Arctic Education Foundation Anchorage, AK | $36,876,877 | $4,892,952 |
Calista Education And Culture Inc Anchorage, AK | $4,627,713 | $2,487,452 |
Kmr Group Foundation Vancouver, WA | $32,236,591 | $1,808,486 |
Aleut Foundation Anchorage, AK | $925,739 | $1,724,058 |
R Merle Palmer Minority Scholarship Foundation Tacoma, WA | $1,801,300 | $1,443,994 |
Greater Seattle Business Assoc Scholarship Fund Seattle, WA | $4,889,386 | $1,584,416 |
Clementina Foundation Point Roberts, WA | $0 | $984,643 |
Becu Foundation Tukwila, WA | $6,512,431 | $1,024,328 |
Blakemore Foundation Bellevue, WA | $7,042,231 | $805,895 |
Harvey Samuelsen Scholarship Tr Dillingham, AK | $17,904,495 | $1,624,940 |