Faithacts For Education Inc
- Assets
- $2.3m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Fairfield, CT
- Founding
- 01/2015
- Data as of
- 12/2023
- EIN
- 47-2150020
Organization Overview
Faithacts For Education Inc is located in Fairfield, CT. The organization was established in 2015. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 12/2023, Faithacts For Education Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faithacts For 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 12/2023, Faithacts For Education Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $3.2m during the year ending 12/2023. While expenses have increased by 22.7% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE PEOPLE OF FAITH BUILDING POWER TO GET OUR CHILDREN THE EDUCATION THEY DESERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUTREACH- BUILDING RELATIONSHIPS WITH PEOPLE OF FAITH IN ORDER TO LEVERAGE THEIR VOICES IN THE EFFORT TO IMPROVE EDUCATION IN BRIDGEPORT.
EDUCATION AND TRAINING- PROVIDING INFORMATION ABOUT ISSUES FACING CONNECTICUT EDUCATION AND OPPORTUNITIES TO IMPROVE IT. EQUIPPING FAITHACTS MEMBERS WITH TOOLS TO IMPROVE EDUCATION IN THEIR CITY.
COMMUNITY EVENTS- CREATING OPPORTUNITIES FOR THE BROADER COMMUNITY TO COME TOGETHER AROUND EDUCATION IN CONNECTICUT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pastor Jeremy Williams Board Chair | OfficerTrustee | 1 | $0 |
Alex Johnston Treasurer | OfficerTrustee | 1 | $0 |
Rev Cass Shaw Secretary | OfficerTrustee | 1 | $0 |
Pastor Moses Mercedes Director | Trustee | 1 | $0 |
Bishop John Thompson Director | Trustee | 1 | $0 |
Toni Harp 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 | $2,568,116 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,568,116 |
| Total Program Service Revenue | $0 |
| Investment income | $12,347 |
| 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 | $2,582,845 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,252 |
| 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. | $501,004 |
| Compensation of current officers, directors, key employees. | $76,389 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,065,403 |
| Pension plan accruals and contributions | $36,431 |
| Other employee benefits | $96,401 |
| Payroll taxes | $118,061 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,808 |
| Fees for services: Accounting | $144,578 |
| Fees for services: Lobbying | $81,769 |
| Fees for services: Fundraising | $20,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $655,896 |
| Advertising and promotion | $32,463 |
| Office expenses | $74,471 |
| Information technology | $46,861 |
| Royalties | $0 |
| Occupancy | $21,379 |
| Travel | $55,803 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,445 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,750 |
| Insurance | $5,909 |
| All other expenses | $0 |
| Total functional expenses | $3,198,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $655,759 |
| Savings and temporary cash investments | $1,005,241 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $589,166 |
| 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 | $37,237 |
| Net Land, buildings, and equipment | $38,750 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,326,153 |
| Accounts payable and accrued expenses | $186,538 |
| Grants payable | $38,000 |
| Deferred revenue | $1,100,000 |
| 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 | $1,324,538 |
| Net assets without donor restrictions | $239,955 |
| Net assets with donor restrictions | $761,660 |
| 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 | $2,326,153 |
Grants Awarded
Over the last fiscal year, Faithacts For Education Inc has awarded $26,400 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EDUCATORS FOR EXCELLENCE PURPOSE: EDUCATION JUSTICE NOW COALITION GRANT | $6,600 |
TSNE MISSIONWORKS INC PURPOSE: EDUCATION JUSTICE NOW COALITION GRANT | $6,600 |
NORTHEAST CHARTER SCHOOLS NETWORK PURPOSE: EDUCATION JUSTICE NOW COALITION GRANT | $6,600 |
CONNCAN PURPOSE: EDUCATION JUSTICE NOW COALITION GRANT | $6,600 |