Foundation For Applied Technical Vocational Education Inc
- Assets
- $3.7m
- Revenue
- $512.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfax, VA
- Founding
- 08/1971
- Data as of
- 06/2022
- EIN
- 54-0896119
Organization Overview
Foundation For Applied Technical Vocational Education Inc, operating under the name Fate, is located in Fairfax, VA. The organization was established in 1971. 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. Fate 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, Fate generated $512.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $431.8k during the year ending 06/2022. While expenses have increased by 7.9% per year over the past 7 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
PROMOTING TECHNICAL AND VOCATIONAL EDUCATION THROUGH THE PUBLIC SCHOOL SYSTEM OF FAIRFAX COUNTY, VIRGINIA. ITS MOST SIGNIFICANT ACTIVITIES FOR THE YEAR WERE ITS STUDENT RESIDENTIAL CONSTRUCTION PROJECT IN SPRINGFIELD, VIRGINIA, ITS STUDENT AUTO SALES PROGRAM IN WHICH STUDENTS WERE PROVIDED WITH TRAINING OPPORTUNITIES IN AUTOMOTIVE TECHNOLOGY AND AUTOMOTIVE COLLISION SERVICE AND ITS SCHOLARSHIP PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE STUDENT AUTO SALES (SAS) PROGRAM RECEIVED 142 USED VEHICLES THIS YEAR FROM FAIRFAX COUNTY PUBLIC SCHOOL DONATIONS. STUDENTS IN SAS DIAGNOSED AND REPAIRED THESE VEHICLES TO PREPARE THEM FOR RESALE TO THE GENERAL PUBLIC. 74% OF THE REVENUE FROM THE SALES OF THESE VEHICLES WAS RETURNED TO THE PARTICIPATING SCHOOLS, WHILE THE REMAINING BALANCE WAS USED TO OFFSET OPERATING COSTS SUCH AS DEALERSHIP INSURANCE, LICENSING, AND SCHOLARSHIPS FOR STUDENTS INTERESTED IN VOCATIONAL AND TECHNICAL EDUCATION.
RESIDENTIAL CONSTRUCTION PROGRAM: THE FOUNDATION CONTINUED WORK ON A NEW SUBDIVISION IN SPRINGFIELD, VA AS A PART OF ITS RESIDENTIAL CONSTRUCTION PROGRAM. SITEWORK ON THE SPRING VILLAGE PROJECT, WHICH WILL ULTIMATELY BE A COMMUNITY OF 18 SINGLE FAMILY HOMES, HAS BEEN COMPLETED ON THE FIRST 12 SITES AND THE REMAINING 6 SITES HAS COMMENCED. TEN HOUSES ARE COMPLETED AND TWO ARE UNDER CONSTRUCTION. STUDENTS PARTICIPATING IN THIS PROJECT GAIN VALUABLE EXPERIENCE AND KNOWLEDGE ABOUT THE CONSTRUCTION INDUSTRY AS THEY WORK CLOSELY WITH VARIOUS SUB-CONTRACTORS IN SPECIFIC TRADE AREAS. IN JUNE 2022, LOT 10 WAS SOLD. IN APRIL 2021, THE FOUNDATION SOLD A TINY HOUSE.
SCHOLARSHIPS: THE FOUNDATION AWARDED 10 SCHOLARSHIPS IN THE 2020/2021 FISCAL YEAR. THE $15,978 IN SCHOLARSHIP DISBURSEMENTS REPRESENTS BOTH NEWLY AWARDED ACADEMIC SCHOLARSHIPS AND RENEWALS IN THE SECOND YEAR THAT ARE APPROVED BY THE FOUNDATION BOARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Neumaier Vice President | OfficerTrustee | 0.3 | $0 |
Kayvan Jaboori President | OfficerTrustee | 1 | $0 |
Natalie Anzzolin Co-Secretary/co-Treasurer | OfficerTrustee | 1 | $0 |
Nathan S White IV Co-Secretary/co-Treasurer | OfficerTrustee | 1 | $0 |
William Lange Director | Trustee | 0.3 | $0 |
Michael R Kieffer Board Counsel | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $299,621 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,100 |
| Noncash contributions included in lines 1a–1f | $299,621 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,721 |
| Total Program Service Revenue | $0 |
| Investment income | $5,087 |
| 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 | $202,262 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $512,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $307,217 |
| Grants and other assistance to domestic individuals. | $15,978 |
| 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 | $0 |
| Fees for services: Accounting | $23,832 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15 |
| Advertising and promotion | $0 |
| Office expenses | $227 |
| Information technology | $0 |
| 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 | $5,580 |
| Insurance | $2,949 |
| All other expenses | $0 |
| Total functional expenses | $431,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,741 |
| Savings and temporary cash investments | $1,494,835 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,220 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,119,025 |
| Prepaid expenses and deferred charges | $18,035 |
| Net Land, buildings, and equipment | $7,440 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,659,296 |
| Accounts payable and accrued expenses | $53,522 |
| 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 | $1,560,667 |
| Total liabilities | $1,614,189 |
| Net assets without donor restrictions | $2,026,287 |
| Net assets with donor restrictions | $18,820 |
| 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 | $3,659,296 |
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