North Seattle College Education Fund
- Assets
- $0.0
- Revenue
- $295.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- Data as of
- 12/2018
- EIN
- 41-2178833
Organization Overview
North Seattle College Education Fund is located in Seattle, WA. North Seattle College Education Fund 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 12/2018, North Seattle College Education Fund generated $295.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (32.1%) each year. All expenses for the organization totaled $8.7m during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE EDUCATION FUND SUPPORTS STUDENT SUCCESS AT NORTH SEATTLE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN DECEMBER 2018, THE EDUCATION FUND MERGED WITH THE SEATTLE COLLEGES FOUNDATION. THE SEATTLE COLLEGES FOUNDATION SUPPORTS ALL OF THE CAMPUSES COMPRISING SEATTLE COLLEGES, OF WHICH NORTH SEATTLE COLLEGE IS ONE. ON 12/31/18, THE SEATTLE COLLEGES FOUNDATION ASSUMED ALL OF THE ASSETS AND OUTSTANDING LIABILITIES OF THE EDUCATION FUND.
SCHOLARSHIPS - THE EDUCATION FUND PROVIDES SCHOLARSHIPS FOR STUDENTS AT NORTH SEATTLE COLLEGE. THERE ARE SPECIFIC SCHOLARSHIPS FOR STUDENTS CONTINUING AT THE COLLEGE, FOR RECENT HIGH SCHOOL GRADUATES, AND FOR STUDENTS ENROLLING IN PARTICULAR COURSES OF STUDY.
PROGRAM SUPPORT - GRANTS TO NORTH SEATTLE COLLEGE PROVIDE FOR TUTORING, EQUIPMENT, PROFESSIONAL DEVELOPMENT, AND SPECIAL PROJECTS. ADDITIONALLY, EMERGENCY ASSISTANCE GRANTS PROVIDE FUNDING FOR TUITION, BOOKS, AND PERSONAL NEEDS TO STUDENTS WHO WOULD OTHERWISE HAVE TO DROP OUT OF COLLEGE. GRANTS TO THE PRESIDENT'S FUND PROVIDE FUNDING TO THE PRESIDENT OF THE COLLEGE TO PROMOTE THE CORE THEMES OF EXCELLENCE IN TEACHING AND LEARNING, STUDENT SUCCESS AND BUILDING COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Petersen Board Chair | OfficerTrustee | 2 | $0 |
Colleen Mcclure Vice Chair | OfficerTrustee | 2 | $0 |
Steven Bishop Treasurer | OfficerTrustee | 2 | $0 |
Susan Gulyas Board Director | Trustee | 2 | $0 |
Nancy Martin Board Director | Trustee | 2 | $0 |
Metodi Mladenov Board Director | Trustee | 2 | $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 | $101,964 |
| Noncash contributions included in lines 1a–1f | $5,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,964 |
| Total Program Service Revenue | $0 |
| Investment income | $115,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,524 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $295,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,205,768 |
| Grants and other assistance to domestic individuals. | $409,889 |
| 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 | $6,168 |
| Fees for services: Accounting | $11,493 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,075 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $5,312 |
| 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 | $1,545 |
| All other expenses | $0 |
| Total functional expenses | $8,686,903 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, North Seattle College Education Fund has awarded $8,205,768 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEATTLE COLLEGES FOUNDATION PURPOSE: Transfer net assets due to merger | $7,975,262 |
NORTH SEATTLE COLLEGE PURPOSE: Program Support | $230,506 |