Suffolk Education Foundation
- Assets
- $642.2k
- Revenue
- $97.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Suffolk, VA
- Founding
- 11/1993
- Data as of
- 06/2022
- EIN
- 54-1657674
Organization Overview
Suffolk Education Foundation is located in Suffolk, VA. The organization was established in 1993. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Suffolk Education Foundation 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, Suffolk Education Foundation generated $97.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $93.4k during the year ending 06/2022. 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
IS TO SUPPORT SUFFOLK PUBLIC SCHOOLS BY CONNECTING THE COMMUNITY'S TALENTS AND RESOURCES TO EXPAND EDUCATIONAL OPPORTUNITIES FOR STUDENTS AND STAFF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT CITY OF SUFFOLK VIRGINIA PUBLIC SCHOOLS BY RAISING FUNDS TO PROVIDE SPECIAL PROGRAMS, PERSONNEL TRAINING & RECOGNITION, TUITION ASSISTANCE AND SCHOLARSHIPS OR ANY OTHER FORM OF ASSISTANCE DEEMED APPROPRIATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Belcher President | OfficerTrustee | 1 | $0 |
Susan Sumner Vice President | OfficerTrustee | 1 | $0 |
David Miles Treasurer | OfficerTrustee | 1 | $0 |
Lesa Mcnamara Director | Trustee | 1 | $0 |
Karen Brickey Director | Trustee | 1 | $0 |
Sid Neighbours Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $277 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,516 |
| Noncash contributions included in lines 1a–1f | $1,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,793 |
| Total Program Service Revenue | $0 |
| Investment income | $50,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $19,823 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $97,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,804 |
| Grants and other assistance to domestic individuals. | $23,900 |
| 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 | $12,671 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $969 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,979 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,448 |
| Fees for services: Other | $0 |
| Advertising and promotion | $167 |
| Office expenses | $404 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $445 |
| All other expenses | $2,830 |
| Total functional expenses | $93,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,227 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $620,945 |
| Total assets | $642,172 |
| 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 | $61 |
| Total liabilities | $61 |
| Net assets without donor restrictions | $640,618 |
| Net assets with donor restrictions | $1,493 |
| 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 | $642,172 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Suffolk Education Foundation has recieved totaling $38,300.
| Awarding Organization | Amount |
|---|---|
Suffolk Foundation Suffolk, VA | | $38,300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
National Association Of Student Financial Aid Administrators Washington, DC | $22,189,727 | $10,008,615 |
Cobell Board Of Trustees Washington, DC | $177,171,131 | $17,842,265 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
Student Freedom Initiative Inc Washington, DC | $132,770,538 | $15,285,825 |
Meor Inc Silver Spring, MD | $283,304 | $5,067,456 |