Follett Educational Foundation
- Assets
- $5.4m
- Revenue
- $258.0k
- Investments
- $5.0m
- Employees
- 0
- Location
- McHenry, IL
- Founding
- 11/1964
- Data as of
- 07/2024
- EIN
- 36-6104348
Organization Overview
Follett Educational Foundation is located in McHenry, IL. The organization was established in 1964. 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. Follett Educational 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 07/2024, Follett Educational Foundation generated $258.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $173.0k during the year ending 07/2024. As we would expect to see with falling revenues, expenses have declined by (8.6%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Follett Educational Foundation has awarded 1,100 individual grants totaling $2,559,691. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Britten Follett Pres/trustee | 2 | $0 | |
Keith O'hara Vice President | 1 | $0 | |
Christopher Traut Trustee | 1 | $0 | |
Kevin Gacek Treasurer | 8 | $0 | |
Matthew Follett Trustee | 1 | $0 | |
Frank Gentile Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $31,100 |
| Interest on Savings | $0 |
| Dividends & Interest | $48,356 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $178,504 |
| Capital Gain Net Income | $178,504 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $257,960 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $9,750 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $944 |
| Depreciation | $0 |
| Occupancy | $3,000 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,997 |
| Total operating and administrative expenses | $29,961 |
| Contributions, gifts, grants paid | $143,000 |
| Total expenses and disbursements | $172,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $426,285 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,633,527 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,438,077 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Follett Educational Foundation has awarded $143,000 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
K APONTE PURPOSE: EDUCATION GRANT | $3,250 |
L AUGUSTINE PURPOSE: EDUCATION GRANT | $775 |
C BARCY PURPOSE: EDUCATION GRANT | $2,750 |
A BARGIEL PURPOSE: EDUCATION GRANT | $3,000 |
K BILLUPS PURPOSE: EDUCATION GRANT | $3,750 |
G CALDERONE PURPOSE: EDUCATION GRANT | $2,385 |