Rocky River Educational Foundation Inc
- Assets
- $2.1m
- Revenue
- $315.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Rocky River, OH
- Founding
- 06/1984
- Data as of
- 06/2021
- EIN
- 34-1428131
Organization Overview
Rocky River Educational Foundation Inc is located in Rocky River, OH. The organization was established in 1984. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Rocky River 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 06/2021, Rocky River Educational Foundation Inc generated $315.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $342.3k during the year ending 06/2021. While expenses have increased by 12.8% 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 ENRICH AND PROVIDE ADDED QUALITY TO THE EDUCATIONAL EXPERIENCE IN OUR COMMUNITY; TO ENCOURAGE FURTHER DEVELOPMENT OF SPECIALIZED TALENT, SKILLS AND ACADEMIC ACHIEVEMENTS FOR THE INDIVIDUAL STUDENTS, FACULTY OR ADMINISTRATORS; TO CONTINUE THE EDUCATIONAL TRADITIONS THAT HAVE CONTRIBUTED TO ROCKY RIVER'S REPUTATION AS AN OUTSTANDING SUBURBAN COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS TO ROCKY RIVER HIGH SCHOOL GRADUATING SENIORS UNDER GUIDELINES OF VARIOUS TEMPORARILY RESTRICTED FUNDS.
AWARD GRANTS TO FACULTY AND STAFF FOR NEW AND CREATIVE EDUCATIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Westerfield President | Officer | 8 | $0 |
Matt Smith Treasurer | Officer | 8 | $0 |
Chris Slomka Secretary | Officer | 2 | $0 |
Stacey Clevenger Vice President | Officer | 2 | $0 |
James Broderick Board Member | Trustee | 0 | $0 |
Anne Banas Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $84,262 |
| Investment income | $36,781 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,835 |
| Net Income from Fundraising Events | $93,951 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $315,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $79,900 |
| 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 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 | $3,609 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,348 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,596 |
| 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 | $1,235 |
| All other expenses | $0 |
| Total functional expenses | $342,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,062 |
| 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 | $0 |
| Investments—publicly traded securities | $1,972,105 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $798 |
| Total assets | $2,088,965 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $160,000 |
| 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 | $160,000 |
| 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 |
| Total liabilities and net assets/fund balances | $1,928,965 |
Grants Awarded
Over the last fiscal year, Rocky River Educational Foundation Inc has awarded $77,845 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ROCKY RIVER CITY SCHOOLS PURPOSE: GENERAL SUPPORTGENERAL SUPPORT | $17,858 |
ROCKY RIVER CITY SCHOOLS PURPOSE: GENERAL SUPPORT | $15,101 |
ROCKY RIVER CITY SCHOOLS PURPOSE: GENERAL SUPPORT | $14,182 |
ROCKY RIVER CITY SCHOOLS PURPOSE: GENERAL SUPPORT | $12,500 |
ROCKY RIVER CITY SCHOOLS PURPOSE: GENERAL SUPPORT | $6,274 |
ROCKY RIVER CITY SCHOOLS PURPOSE: GENERAL SUPPORT | $2,500 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Rocky River Educational Foundation Inc has recieved totaling $4,741.
| Awarding Organization | Amount |
|---|---|
Naomi And James I Fitzgibbon Family Foundation Rocky River, OH PURPOSE: SUPPORT ROCKY RIVER EDUCATION | $1,500 |
The Fortney Foundation North Olmsted, OH PURPOSE: GENERAL OPERATING | $1,500 |
The Bonnie Bell Family Foundation Westlake, OH PURPOSE: SCHOLARSHIP DONATION | $1,000 |
The@lisa And Christopher Kysela Family Foundation Rocky River, OH PURPOSE: DONATION | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $141 |
Lazard Foundation New York, NY PURPOSE: UNRESTRICTED | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
Western Michigan University Foundation Kalamazoo, MI | $431,026,780 | $43,479,998 |
Pelotonia Columbuus, OH | $27,807,886 | $34,892,875 |
Wku Student Life Foundation Inc Bowling Green, KY | $178,491,745 | $30,600,200 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Miami University Foundation Inc Oxford, OH | $724,573,926 | $28,643,439 |
Bowling Green State University Foundation Inc Bowling Green, OH | $269,755,787 | $28,051,237 |
Ball State University Foundation Muncie, IN | $262,845,495 | $25,627,270 |
The University Of Toledo Foundation Toledo, OH | $690,162,176 | $41,543,760 |
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |