Foundation For The Advancement Of String Education Inc
- Assets
- $1.4m
- Revenue
- $108.9k
- Investments
- $1.4m
- Employees
- 0
- Location
- Scottsville, VA
- Founding
- 09/1979
- Data as of
- 12/2020
- EIN
- 36-2980311
Organization Overview
Foundation For The Advancement Of String Education Inc is located in Scottsville, VA. The organization was established in 1979. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Advancement Of String Education 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 12/2020, Foundation For The Advancement Of String Education Inc generated $108.9k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 33.0% each year . All expenses for the organization totaled $141.0k during the year ending 12/2020. While expenses have increased by 0.9% per year over the past 2 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS, SERVICES, GRANTS DESIGNED TO EDUCATION TEACHERS AND STUDENTS USING MUSICAL INSTRUMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debbie Lyle Director | 30 | $38,000 | |
Bryanna Porter Director | 2 | $0 | |
Felipe Morales Torres Treasurer | 2 | $0 | |
Laurel Humiston President | 2 | $0 | |
Charlene Monte Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $17,098 |
| Interest on Savings | $0 |
| Dividends & Interest | $22,652 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $24,950 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $44,212 |
| Total Revenue | $108,912 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $38,000 |
| Other employee salaries and wages | $4,532 |
| Pension plans, employee benefits | $3,253 |
| Interest | $0 |
| Taxes | $18 |
| Depreciation | $604 |
| Occupancy | $5,550 |
| Travel, conferences, and meetings | $6,517 |
| Printing and publications | $11,023 |
| Other expenses | $43,628 |
| Total operating and administrative expenses | $116,038 |
| Contributions, gifts, grants paid | $24,983 |
| Total expenses and disbursements | $141,021 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,892 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $25,431 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $730 |
| Other assets | $0 |
| Total assets | $1,412,536 |
| Accounts payable and accrued expenses | $2,150 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,150 |
Grants Awarded
Over the last fiscal year, Foundation For The Advancement Of String Education Inc has awarded $14,053 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ULICORI COLLEGE PURPOSE: STRING MUSIC EDUCATION | $6,203 |
Raleigh, NC PURPOSE: STRING MUSIC EDUCATION | $3,000 |
Fairfax, VA PURPOSE: STRING MUSIC EDUCATION | $2,400 |
MELISSA MENDEZ PURPOSE: STRING MUSIC EDUCATION | $1,950 |
UBUNTU KIDS AFTER SCHOOL VIOLIN PURPOSE: STRING MUSIC EDUCATION | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Museum Of Fine Arts Foundation Richmond, VA | $286,070,393 | $48,848,372 |
Npr Foundation Washington, DC | $410,006,391 | $31,919,786 |
Pbs Foundation Arlington, VA | $37,997,942 | $17,786,379 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Virginia Foundation For Public Media Richmond, VA | $185,376,659 | $5,025,363 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |
Mpt Foundation Inc Owings Mills, MD | $15,645,200 | $7,324,843 |
Jefferson Center Foundation Ltd Roanoke, VA | $24,079,593 | $2,456,793 |