Rural Education Foundation
- Assets
- $9.7m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 137
- Location
- Farmville, VA
- Founding
- 08/1993
- Data as of
- 07/2023
- EIN
- 54-1673028
Organization Overview
Rural Education Foundation is located in Farmville, VA. The organization was established in 1993. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 07/2023, Rural Education Foundation employed 137 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural 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 07/2023, Rural Education Foundation generated $4.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $4.2m during the year ending 07/2023. While expenses have increased by 0.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE RURAL EDUCATION FOUNDATION IS TO CREATE A SAFE AND SUPPORTIVE LEARNING ENVIRONMENT WHICH FOSTERS THE DEVELOPMENT OF BOUNDLESS INDIVIDUAL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RURAL EDUCATION FOUNDATION OPERATES AN ACCREDITED PRIVATE SCHOOL WHERE ALL INCOME GENERATED IS IN CONNECTION WITH THE EDUCATIONAL PROGRAM OFFERED BY THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Eggleston Chairperson | Trustee | 5 | $0 |
Kathy Andrews Board Member | Trustee | 5 | $0 |
Robert Atkinson Board Member | Trustee | 5 | $0 |
Jason Ferguson Board Member | Trustee | 5 | $0 |
John Gantt Board Member | Trustee | 5 | $0 |
Shawn Haney Board Member | Trustee | 5 | $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 | $995,919 |
| Noncash contributions included in lines 1a–1f | $20,281 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $995,919 |
| Total Program Service Revenue | $3,118,016 |
| Investment income | $157,731 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,450 |
| Net Gain/Loss on Asset Sales | $35,517 |
| Net Income from Fundraising Events | $4,761 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,398,187 |
| 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. | $129,453 |
| Compensation of current officers, directors, key employees. | $25,891 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,123,458 |
| Pension plan accruals and contributions | $15,090 |
| Other employee benefits | $140,434 |
| Payroll taxes | $162,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,504 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $69,410 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $165,613 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,202,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,403,415 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,197 |
| 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 | $36,119 |
| Net Land, buildings, and equipment | $3,199,083 |
| Investments—publicly traded securities | $4,973,810 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,019 |
| Total assets | $9,704,643 |
| Accounts payable and accrued expenses | $169,751 |
| Grants payable | $0 |
| Deferred revenue | $360,517 |
| 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 | $1,490,540 |
| Other liabilities | $0 |
| Total liabilities | $2,020,808 |
| Net assets without donor restrictions | $2,022,203 |
| Net assets with donor restrictions | $5,661,632 |
| 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 | $9,704,643 |