Charlottesville-Albermarle Technical Education Foundation Inc
- Assets
- $584.2k
- Revenue
- $45.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 11/1982
- Data as of
- 06/2023
- EIN
- 54-1035156
Organization Overview
Charlottesville-Albermarle Technical Education Foundation Inc is located in Charlottesville, VA. The organization was established in 1982. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, 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. Charlottesville-Albermarle Technical Education 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 06/2023, Charlottesville-Albermarle Technical Education Foundation Inc generated $45.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $27.4k during the year ending 06/2023. 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
THE ORGANIZATION PROVIDES SUPPORT TO THE CHARLOTTESVILLE-ALBEMARLE TECHNICAL EDUCATION CENTER TO IMPROVE ITS FACILITIES, TRAIN ITS STAFF AND PROVIDE SCHOLARSHIPS FOR STUDENTS ENROLLED IN THE CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SUPPORT TO THE CHARLOTTESVILLE-ALBEMARLE TECHNICAL EDUCATION CENTER TO IMPROVE ITS FACILITIES, SUPPORT ITS STAFF, AND PROVIDE SCHOLARSHIPS TO ITS STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Brewer Vice Chair | OfficerTrustee | $0 | |
Russell Madison Cummings Director | Trustee | $0 | |
Laura Fonner Director | Trustee | $0 | |
Devy Goradia Treasurer | OfficerTrustee | $0 | |
Joseph Hughes Director | Trustee | $0 | |
Eric Irizarry Director | Trustee | $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 | $25,568 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,568 |
| Total Program Service Revenue | $0 |
| Investment income | $12,430 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,249 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $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 | $35 |
| Fees for services: Accounting | $5,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $120 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $1,040 |
| All other expenses | $0 |
| Total functional expenses | $27,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,679 |
| Savings and temporary cash investments | $592 |
| 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 | $559,935 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $584,206 |
| 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 |
| Net assets without donor restrictions | $584,206 |
| Net assets with donor restrictions | $0 |
| 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 | $584,206 |
Grants Awarded
Over the last fiscal year, Charlottesville-Albermarle Technical Education Foundation Inc has awarded $12,495 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ALYYSA GIBSON PURPOSE: SCHOLARSHIP AWARD | $1,000 |
AMANDA GIMBERT PURPOSE: SCHOLARSHIP RECIPIENT | $1,000 |
REBECCA GIMBERT PURPOSE: SCHOLARSHIP RECIPIENT | $1,000 |
KENLEY WOODS PURPOSE: SCHOLARSHIP RECIPIENT | $1,000 |
FATEMA DOST PURPOSE: SCHOLARSHIP RECIPIENT | $1,500 |
LIAM MATHER KIDD PURPOSE: SCHOLARSHIP RECIPIENT | $1,000 |