Virginia Beach City Public Schools Education Foundation Inc

Organization Overview

Virginia Beach City Public Schools Education Foundation Inc is located in Virginia Beach, VA. The organization was established in 1993. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Virginia Beach City Public Schools 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 06/2022, Virginia Beach City Public Schools Education Foundation Inc generated $475.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $347.5k during the year ending 06/2022. While expenses have increased by 0.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO MAKE A DIFFERENCE IN THE EPUBLIC SCHOOLS OF VIRGINIA BEACH BY RAISING PRIVATE SECTOR SUPPORT TO FUND INNOVATIVE AND CREATIVE LEARNING PROGRAMS AND TO REWARD EDUCATIONAL EXELLENCE USING GRANTS TO HELP SUPPORT PILOT PROGRAMS RUN BY THE SCHOOL SYSTEM EDUCATORS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION AWARDED 70 GRANTS IN THE CURRENT YEAR. THE GRANTS WERE AWARDED TO SCHOOLS FOR PROJECTS THAT TEACHERS HAVE DESIGNED TO ENHANCE STUDENT ACHIEVEMENT. GRANTS ARE AWARDED UP TO 20,000 EACH.


THE VIRGINIA BEACH EDUCATION FOUNDATION (VBEF) MANGES A FEW RESTRICTED FUNDS FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO GRADUATING SENIORS IN VIRGINIA BEACH CITY PUBLIC SCHOOLS (VBCPS). THERE ARE A FEW SCHOLARSHIPS AVAILABLE TO VBCPS TEACHERS, AS WELL, THROUGH VBEF. IN THE CURRENT YEAR 9 SCHOLARSHIPS WERE AWARDED.


THE BEACH BAGS PROGRAM, WHICH PROVIDEDS SHELF-STABLE FOOD TO VBCPS STUDENTS IN NEED OF FOOD DURING WEEKENDS AND HOLIDAYS, IS A PROGRAM FOR WHICH FUNDS ARE RESTRICTED THROUGH THE VBEF. ADDITIONAL RESTRICTED FUNDING DESIGNATED BY DONORS ARE ALSO MADE TO VBEF TO BENEFIT VBCPS STUDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Kevin Hill
President
$0
Will Moralez
President El
$0
John Mazach
Treasurer
$0
Monica Curry
Secretary
$0
Robert Broermann
Past Preside
$0
Debbie Hughes
Coordinator
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$137,500
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$161,114
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$298,614
Total Program Service Revenue$0
Investment income $41,004
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $191,528
Net Income from Fundraising Events -$55,261
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $475,885

Grants Awarded

Over the last fiscal year, Virginia Beach City Public Schools Education Foundation Inc has awarded $27,046 in support to 3 organizations.

Grant RecipientAmount

DEY ELEMENTARY SCHOOL

PURPOSE: EDUCATIONAL

$13,835

FAIRFIELD ELEMENTARY SCHOOL

PURPOSE: EDUCATIONAL

$6,699

NEW CASTLE ELEMENTARY SCHOOL

PURPOSE: EDUCATIONAL

$6,512
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Virginia Beach City Public Schools Education Foundation Inc has recieved totaling $39,158.

Awarding OrganizationAmount
United Way Of South Hampton Roads

Norfolk, VA

PURPOSE: GRANTS AWARDED

$15,000
Vb Home Now Inc

Virginia Beach, VA

PURPOSE: Provide meals to homeless and needy school students. See Part III 4 for further description.

$14,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$10,158
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$2,248,764
Earnings-$211,838
Ending Balance$2,236,926

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