Lake Geauga Educational Assistance Foundation
- Assets
- $186.1k
- Revenue
- $407.4k
- Investments
- $57.2k
- Employees
- 12
- Location
- Kirtland, OH
- Founding
- 06/1990
- Data as of
- 06/2020
- EIN
- 34-1640416
Organization Overview
Lake Geauga Educational Assistance Foundation is located in Kirtland, OH. The organization was established in 1990. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2021, Lake Geauga Educational Assistance Foundation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Geauga Educational Assistance 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 06/2020, Lake Geauga Educational Assistance Foundation generated $407.4k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $415.8k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO DELIVER CAREER AND COLLEGE ACCESS ADVISORY PROGRAMS CONNECTING INDIVIDUALS TO THEIR BEST-FIT CAREERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE ACCESS AND FINANCIAL AID ADVISORY SERVICES: LEAF CONTRACTS DIRECTLY WITH SCHOOL DISTRICTS TO SUPPLY EXPERIENCED CAREER AND FINANCIAL AID ADVISORS TO THE HIGH SCHOOL, WHERE OUR ADVISORS WORK WITH STUDENTS AND THEIR FAMILIES. THE ADVISORS PROVIDE OBJECTIVE INFORMATION ON THE POST-SECONDARY EDUCATION PROCESS WHETHER FOR A TWO-YEAR, FOUR-YEAR OR TECHNICAL TRADE SCHOOL, INCLUDING APPLICATIONS, FAFSA FILINGS, ACT/SAT WAIVERS, FINANCIAL AID LITERACY, INTERPRETATION OF AWARD LETTERS AND SCHOLARSHIP/GRANT SEARCH OPPORTUNITIES. LEAF'S GOAL IS TO ASSIST STUDENTS IN CHOOSING WISELY, TRANSITIONING SUCCESSFULLY AND COMPLETING THEIR EDUCATION WITH A MINIMIZED DEBT LOAD. IN-SCHOOL SERVICES INCLUDE ONE-ON- ONE APPOINTMENTS, IN-CLASS GROUP SESSIONS, AND PARENT/STUDENT FINANCIAL AID NIGHTS. THIS SERVICE ALSO INCLUDES INFORMATION PAMPHLETS AND NEWSLETTERS SENT DIRECTLY TO THE PARENT/GUARDIAN FOR FRESHMAN, SOPHOMORES, JUNIORS AND SENIORS. IN ALL, LEAF IMPACTS MORE THAN 16,000 STUDENTS IN LAKE, GEAUGA, PORTAGE AND EASTERN CUYAHOGA COUNTIES, OHIO.
B.SCHOLARSHIP MANAGEMENT: LEAF MANAGES AND ADMINISTERS SCHOLARSHIPS FOR SEVERAL THIRD-PARTY ORGANIZATIONS (KNOWN AS COMMUNITY SCHOLARSHIPS). THESE COMMUNITY SCHOLARSHIPS ARE FUNDED BY THE CLEVELAND FOUNDATION HARRIET B. STORRS FUND, THE CLEVELAND FOUNDATION WILLIS KELLY SCHOLARSHIP FUND, WILLOUGHBY SOUTH ALUMNI, WESTERN RESERVE JUNIOR LEAGUE, ABB, EASTERN LAKE COUNTY CHAMBER OF COMMERCE, ERIE AFFILIATES, LAKELAND AREA COUNSELORS ASSOCIATION , AND THREE MEMORIAL FUNDS. LEAF CHARGES A NOMINAL ADMINISTRATIVE FEE TO MANAGE THESE SCHOLARSHIPS. IN ADDITION, LEAF MANAGES AND ADMINISTERS SCHOLARSHIPS THAT ARE FUNDED BY OUR OWN DONORS AND FUNDRAISING EFFORTS.
RESOURCE CENTER: LEAF MANAGES A FREE RESOURCE CENTER FOR RESIDENTS OF LAKE AND GEAUGA COUNTIES(OHIO) WHERE THEY CAN SCHEDULE ONE-ON-ONE APPOINTMENTS OR ATTEND A FREE RESOURCE CENTER SEMINAR ON A TOPIC RELATED TO COLLEGE AND CAREER ACCESS OR FINANCIAL AID LITERACY. TYPICALLY, LEAF WILL ADVISE MORE THAN 450 INDIVIDUALS IN OUR RESOURCE CENTER ANNUALLY. SINCE 2016, LEAF HAS PUBLISHED A 24-PAGE RESOURCE CENTER INFORMATION GUIDE, WHICH IS AN INFORMATION INTENSIVE RESOURCE FOR PARENTS OF HIGH SCHOOL JUNIORS AND SENIORS. TO OFFSET PROGRAM EXPENSES, REVENUES WERE OBTAINED THROUGH SPONSORSHIPS AND PLACEMENTS IN THE GUIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Munson Former Exec | Officer | 40 | $57,563 |
Hallie Pallante Treasurer | OfficerTrustee | 5 | $0 |
Keith Hohman Vice Preside | OfficerTrustee | 5 | $0 |
Robert Malinowski President | OfficerTrustee | 5 | $0 |
Dr Trista Warren Executive Di | Officer | 40 | $0 |
Nicki Burr Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $182,507 |
| Investment income | $561 |
| 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 | $407,443 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $100,269 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $172,193 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,401 |
| Payroll taxes | $18,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,775 |
| Advertising and promotion | $1,857 |
| Office expenses | $23,582 |
| Information technology | $10,388 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,898 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,117 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,710 |
| All other expenses | $0 |
| Total functional expenses | $415,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,263 |
| Savings and temporary cash investments | $103,445 |
| Pledges and grants receivable | $6,325 |
| 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 | $0 |
| Investments—other securities | $57,160 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,938 |
| Total assets | $186,131 |
| Accounts payable and accrued expenses | $7,256 |
| Grants payable | $0 |
| Deferred revenue | $21,822 |
| 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 | $37,900 |
| Total liabilities | $66,978 |
| 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 | $119,153 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lake Geauga Educational Assistance Foundation has recieved totaling $81,462.
| Awarding Organization | Amount |
|---|---|
Cleveland Foundation Cleveland, OH PURPOSE: GENERAL SUPPORT | $81,462 |
Endowment Analysis
| Beg. Balance | $21,469 |
| Ending Balance | $21,469 |
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|---|---|---|
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Ulh Inc Louisville, KY | $43,242,391 | $8,714,119 |
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St Richards Episcopal School Inc Indianapolis, IN | $7,903,240 | $8,220,248 |
Green River Regional Education Cooperative Inc Bowling Green, KY | $8,161,400 | $7,463,495 |
Shippensburg University Student Services Inc Shippensburg, PA | $2,959,085 | $3,291,326 |
Ross-Ade Foundation West Lafayette, IN | $185,779,035 | $4,230,686 |
Little Buns Inc Carmel, IN | $470,846 | $4,308,621 |
The New Common School Foundation Detroit, MI | $40,234,956 | $5,515,596 |