Foundatin For The Educational Development Of Children
- Assets
- $41.3m
- Revenue
- -$1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/2006
- Data as of
- 06/2022
- EIN
- 36-6083633
Organization Overview
Foundatin For The Educational Development Of Children is located in Chicago, IL. The organization was established in 2006. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, 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. Foundatin For The Educational Development Of Children is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS THE ORTHOGENIC SCHOOL AND HYDE PARK DAY SCHOOL THOUGH ITS INVESTMENTS AND REAL ESTATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SETS THE INVESTMENT POLICY AND MANAGES THE INVESTMENTS OF THE ENDOWMENT. THE GROWTH IN THESE INVESTMENTS AND SOUND INVESTMENT MANAGEMENT ALLOWS FOR MORE FUNDING FOR STRATEGIC INITIATIVES.
THE FOUNDATION SUPPORTS THE OPERATIONS OF THE SONIA SHANKMAN ORTHOGENIC SCHOOL, BROOKE WHITTED CENTER (CLOSED JUNE 11, 2021) AND THE HYDE PARK DAY SCHOOLS, PROVIDING FUNDING FOR SPECIAL PROJECTS, STRATEGIC INITIATIVES AND FUNDS CASH FLOW NEEDS WHEN REQUIRED.
THE FOUNDATION OWNS FEDC HOLDINGS, A DISREGARDED ENTITY, WHICH OWNS THE REAL ESTATE HOLDINGS FOR THE SCHOOLS. BOTH SCHOOLS OPERATE IN THE BUILDINGS OWNED BY FEDC HOLDINGS.
THE FOUNDATION SUPPORTS THE OPERATIONS OF THE SONIA SHANKMAN ORTHOGENIC SCHOOL AND THE HYDE PARK DAY SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Steinback Chair - Until 08/2021 | OfficerTrustee | 2 | $0 |
Scott Mcdonald Chair | OfficerTrustee | 2 | $0 |
Janet Goelz Hoffman Secretary & Treasurer | OfficerTrustee | 2 | $0 |
Adam Steinback Vice Chair | OfficerTrustee | 2 | $0 |
Abby Simon Executive Director / CFO | Officer | 1 | $0 |
David Kurtz Director | Trustee | 1 | $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 | $20,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,400 |
| Total Program Service Revenue | $0 |
| Investment income | $427,968 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,698,362 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$1,249,994 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,325,000 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $6,578 |
| Fees for services: Accounting | $25,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,545 |
| Fees for services: Other | $1,800 |
| Advertising and promotion | $0 |
| Office expenses | $602 |
| 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 | $756,644 |
| Insurance | $5,405 |
| All other expenses | $0 |
| Total functional expenses | $2,219,269 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,398,546 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,000 |
| 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 | $2,819 |
| Net Land, buildings, and equipment | $24,458,777 |
| Investments—publicly traded securities | $14,837,574 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $599,289 |
| Total assets | $41,347,005 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $26,416,914 |
| Net assets with donor restrictions | $14,930,091 |
| 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 | $41,347,005 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundatin For The Educational Development Of Children has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Bellick Foundation Chicago, IL PURPOSE: GENERAL PURPOSE | $50,000 |
Endowment Analysis
| Beg. Balance | $15,673,708 |
| Earnings | -$1,169,594 |
| Grants | $900,000 |
| Ending Balance | $13,604,114 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Stifel Charitable Inc St Louis, MO | $132,307,100 | $94,589,551 |
Moose Charities Inc Mooseheart, IL | $5,385,966 | $15,548,845 |
Franciscan Sisters Of Chicago Service Corporation Lemont, IL | $62,771,138 | $13,923,865 |
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
Coxhealth Foundation Springfield, MO | $33,244,463 | $11,374,415 |
Bass Pro Shops & Cabelas Outdoor Fund Springfield, MO | $14,575,213 | $9,618,697 |
Community Foundation For The Land Of Lincoln Inc Springfield, IL | $62,800,465 | $16,636,147 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Chicago Cubs Charities Chicago, IL | $11,765,252 | $2,315,259 |