Collegebound Foundation Inc
- Assets
- $36.2m
- Revenue
- $8.6m
- Investments
- $3.1m
- Employees
- 48
- Location
- Baltimore, MD
- Founding
- 03/1989
- Data as of
- 06/2022
- EIN
- 52-1598921
Organization Overview
Collegebound Foundation Inc is located in Baltimore, MD. The organization was established in 1989. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Collegebound Foundation Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Collegebound 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 06/2022, Collegebound Foundation Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $4.8m during the year ending 06/2022. While expenses have increased by 6.2% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COUNSELING AND FINANCIAL RESOURCES TO BALTIMORE CITY PUBLIC SCHOOL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE AND ENABLE BALTIMORE CITY PUBLIC SCHOOL STUDENTS TO PURSUE A POSTSECONDARY EDUCATION BY PROVIDING COUNSELING THROUGH ITS COLLEGE ADVISING PROGRAM AND FINANCIAL RESOURCES.
TO ENCOURAGE AND ENABLE BALTIMORE CITY PUBLIC SCHOOL STUDENTS TO PURSUE A POSTSECONDARY EDUCATION BY PROVIDING SCHOLARSHIPS AND LAST DOLLAR GRANT AWARDS TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alicia Wilson Chair | OfficerTrustee | 1 | $0 |
Robert C Embry Jr Treasurer | OfficerTrustee | 1 | $0 |
Carol D Reckling Secretary | OfficerTrustee | 1 | $0 |
Robert D Biagiotti Director | Trustee | 1 | $0 |
Willa Blasingame Partial Year Director | Trustee | 1 | $0 |
Greg Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,655,532 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,941,453 |
| Noncash contributions included in lines 1a–1f | $277,487 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,596,985 |
| Total Program Service Revenue | $0 |
| Investment income | $1,280,248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $708,190 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,585,423 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,398,316 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $384,333 |
| Compensation of current officers, directors, key employees. | $38,433 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,826,995 |
| Pension plan accruals and contributions | $40,223 |
| Other employee benefits | $223,934 |
| Payroll taxes | $152,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $341 |
| Fees for services: Accounting | $25,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $132,766 |
| Fees for services: Other | $5,301 |
| Advertising and promotion | $0 |
| Office expenses | $76,365 |
| Information technology | $95,246 |
| Royalties | $0 |
| Occupancy | $100,655 |
| Travel | $51,364 |
| 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 | $47,584 |
| Insurance | $36,859 |
| All other expenses | $0 |
| Total functional expenses | $4,793,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,007 |
| Savings and temporary cash investments | $1,900,691 |
| Pledges and grants receivable | $2,195,366 |
| Accounts receivable, net | $839,615 |
| 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 | $56,769 |
| Net Land, buildings, and equipment | $104,928 |
| Investments—publicly traded securities | $27,252,394 |
| Investments—other securities | $3,123,674 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $310,193 |
| Total assets | $36,170,637 |
| Accounts payable and accrued expenses | $195,941 |
| Grants payable | $0 |
| Deferred revenue | $82,642 |
| 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 | $562,529 |
| Total liabilities | $841,112 |
| Net assets without donor restrictions | $25,734,948 |
| Net assets with donor restrictions | $9,594,577 |
| 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 | $36,170,637 |