Design Foundation Inc
- Assets
- $560.1k
- Revenue
- $113.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Herndon, VA
- Founding
- 11/2001
- Data as of
- 12/2021
- EIN
- 31-1791067
Organization Overview
Design Foundation Inc is located in Herndon, VA. The organization was established in 2001. 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. Design 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, Design Foundation Inc generated $113.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $40.1k during the year ending 12/2021. While expenses have increased by 2.0% 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 PROMOTE SCHOLARSHIP AND EDUCATION TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DESIGN FOUNDATION PROVIDES TUITION ASSISTANCE FOR ONE GRADUATE AND ONE UNDERGRADUATE COLLEGIATE STUDENT STUDYING INDUSTRIAL DESIGN EACH YEAR. FOR 2021, EACH SCHOLARSHIP WAS $3,000.
EVENT ACCESS - AS PART OF OUR DIVERSITY, EQUITY, AND INCLUSION INITIATIVES, WE LAUNCHED OUR DEI EVENT ACCESS PROGRAM IN 2020, WHICH OFFERS INDIVIDUALS WHO ARE UNDERREPRESENTED IN INDUSTRIAL DESIGN-PRIMARILY BIPOC (BLACK, INDIGENOUS, PEOPLE OF COLOR), FEMALE-IDENTIFIED AND NON-BINARY STUDENTS-COMPLIMENTARY ACCESS TO NATIONAL INDUSTRIAL DESIGNERS SOCIETY OF AMERICA EVENTS. IN 2021, 63 INDIVIDUALS RECEIVED COMPLIMENTARY REGISTRATION TO INDIVIDUALS TO ATTEND VARIOUS IDSA EVENTS, VALUED AT $2,400.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Qin Li Trustee & Secretary/treasurer | OfficerTrustee | 1 | $0 |
Lee Fain Secretary/treasurer & Trustee | OfficerTrustee | 1 | $0 |
Dorothy Dunn President | OfficerTrustee | 2 | $0 |
Maureen Carroll Vice President | OfficerTrustee | 1 | $0 |
Verena Paepcke-Hjeltness Trustee | Trustee | 1 | $0 |
Michelle Berryman Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $85,360 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,901 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $113,261 |
| Total Program Service Revenue | $0 |
| Investment income | $43 |
| 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 | $113,309 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,000 |
| 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 | $17,606 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,573 |
| Payroll taxes | $1,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,525 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,515 |
| Advertising and promotion | $330 |
| Office expenses | $2,105 |
| Information technology | $358 |
| Royalties | $0 |
| Occupancy | $1,041 |
| 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 | $748 |
| Insurance | $925 |
| All other expenses | $0 |
| Total functional expenses | $40,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $559,233 |
| Savings and temporary cash investments | $0 |
| 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 | $866 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $560,099 |
| 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 | $86,949 |
| Total liabilities | $86,949 |
| Net assets without donor restrictions | $168,220 |
| Net assets with donor restrictions | $304,930 |
| 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 | $560,099 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Design Foundation Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $451,309 |
| Earnings | $28 |
| Net Contributions | $26,000 |
| Other Expense | $9,325 |
| Ending Balance | $468,012 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
National Association Of Student Financial Aid Administrators Washington, DC | $22,189,727 | $10,008,615 |
Cobell Board Of Trustees Washington, DC | $177,171,131 | $17,842,265 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
Student Freedom Initiative Inc Washington, DC | $132,770,538 | $15,285,825 |
Meor Inc Silver Spring, MD | $283,304 | $5,067,456 |