Rives C Minor And Asalie M Preston Educational Foundation Inc
- Assets
- $83.8k
- Revenue
- $23.9k
- Investments
- $67.6k
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 04/1983
- Data as of
- 02/2023
- EIN
- 52-1279007
Organization Overview
Rives C Minor And Asalie M Preston Educational Foundation Inc is located in Charlottesville, VA. The organization was established in 1983. 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. Rives C Minor And Asalie M Preston Educational Foundation 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 02/2023, Rives C Minor And Asalie M Preston Educational Foundation Inc generated $23.9k 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 (22.6%) each year. All expenses for the organization totaled $39.8k during the year ending 02/2023. As we would expect to see with falling revenues, expenses have declined by (27.5%) per year over the past 4 years. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HAS NO DIRECT CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond L Carey Sr President/director | 5 | $0 | |
Kendall Carter Director | 5 | $0 | |
Margaret Littlepage Director | 5 | $0 | |
Brian Menard Executive Director | 40 | $16,231 | |
Ronica Turner Secretary/director | 5 | $0 | |
Kathy Johnson Harris Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $419 |
| Dividends & Interest | $1,862 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,589 |
| Capital Gain Net Income | $1,589 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $23,870 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $16,231 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,717 |
| Total operating and administrative expenses | $27,802 |
| Contributions, gifts, grants paid | $12,000 |
| Total expenses and disbursements | $39,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,206 |
| 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 | $67,573 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $83,779 |
| 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, Rives C Minor And Asalie M Preston Educational Foundation Inc has awarded $12,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
KANIYAH KEY PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |
HALLE BROCKETT PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $3,000 |
TY'QUAN MAYO PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |
LAILA SHEIKH PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |
VANESSA RAMIREZ PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |
RYAN HOFFMAN PURPOSE: SCHOLARSHIP FOR TUITION & BOOKS | $1,500 |