Frisco Education Foundation
- Assets
- $4.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Frisco, TX
- Founding
- 05/2000
- Data as of
- 07/2022
- EIN
- 31-1689773
Organization Overview
Frisco Education Foundation is located in Frisco, TX. The organization was established in 2000. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Frisco Education Foundation 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, Frisco Education Foundation generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $947.8k during the year ending 07/2022. While expenses have increased by 1.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS TO GRADUATING HIGH SCHOOL STUDENTS IN THE FRISCO INDEPENDENT SCHOOL DISTRICT. THE FOUNDATION ALSO SUPPORTS EDUCATIONAL PROGRAMS AND EDUCATORS IN THE DISTRICT THROUGH GRANTS FOR GREAT IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS TO GRADUATING HIGH SCHOOL STUDENTS IN THE FRISCOINDEPENDENT SCHOOL DISTRICT. THE FOUNDATION ALSO SUPPORTS EDUCATIONALPROGRAMS AND EDUCATORS IN THE DISTRICT THROUGH GRANTS FOR GREAT IDEAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sunitha Cheruvu Past President | OfficerTrustee | 3 | $0 |
Renee Sample President | OfficerTrustee | 3 | $0 |
Whitney Brandon Faulkner Boared Member | OfficerTrustee | 3 | $0 |
Megan Nguyen-Trinh Treasurer | OfficerTrustee | 3 | $0 |
David Turner Asst Treasurer | Trustee | 3 | $0 |
Hank Williams Board Member | Trustee | 3 | $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 | $959,862 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $959,862 |
| Total Program Service Revenue | $0 |
| Investment income | $187,683 |
| 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 | $1,147,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $794,954 |
| 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 | $8,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| 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 | $2,476 |
| All other expenses | $37,655 |
| Total functional expenses | $947,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,531 |
| Savings and temporary cash investments | $763,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,750 |
| 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 | $3,841,053 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,688,334 |
| 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 | $222,338 |
| Total liabilities | $222,338 |
| Net assets without donor restrictions | $964,493 |
| Net assets with donor restrictions | $3,501,503 |
| 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 | $4,688,334 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Frisco Education Foundation has recieved totaling $98,714.
| Awarding Organization | Amount |
|---|---|
Coserv Charitable Foundation Corinth, TX PURPOSE: STUDENT SCHOLARSHIPS/TEACHER GRANTS | $35,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $13,600 |
Texas Health Hospital Frisco Frisco, TX PURPOSE: Scholarship Support | $10,000 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $9,381 |
Oncor Cares Foundation Dallas, TX PURPOSE: HELP ORGANIZATIONS PROVIDE ASSISTANCE TO THOSE IN NEED DURING THE COVID-19 PANDEMIC. | $9,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,353 |
Endowment Analysis
| Beg. Balance | $2,480,330 |
| Earnings | $99,350 |
| Net Contributions | $53,340 |
| Grants | $99,350 |
| Ending Balance | $2,533,670 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Way Of Greater Houston Houston, TX | $90,238,589 | $64,032,577 |
United Way Of Metropolitan Dallas Inc Dallas, TX | $52,867,984 | $61,265,319 |
United Way Of San Antonio & Bexar County San Antonio, TX | $74,846,616 | $63,219,295 |
United Way Of Tarrant County Fort Worth, TX | $18,831,781 | $22,745,265 |
United Way For Greater Austin Austin, TX | $12,924,459 | $23,251,775 |
Tulsa Area United Way Tulsa, OK | $38,352,626 | $26,094,881 |
United Way Of Denton County Inc Denton, TX | $7,662,302 | $25,065,055 |
United Way Of Central Oklahoma Oklahoma City, OK | $31,400,744 | $22,733,637 |
Circle Of Life Springdale, AR | $23,639,439 | $20,357,791 |
United Way Of Central New Mexico Albuquerque, NM | $25,758,904 | $18,629,053 |
Valero Energy Foundation San Antonio, TX | $27,234,889 | $9,027,256 |
Jewish Federation Of Greater Houston Houston, TX | $13,164,896 | $16,157,692 |