Coastal Educational Foundation Incorporated
- Assets
- $66.7m
- Revenue
- $7.3m
- Investments
- $3.2m
- Employees
- 0
- Location
- Conway, SC
- Founding
- 05/1958
- Data as of
- 06/2022
- EIN
- 57-0354696
Organization Overview
Coastal Educational Foundation Incorporated is located in Conway, SC. The organization was established in 1958. 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. Coastal Educational Foundation Incorporated 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, Coastal Educational Foundation Incorporated generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $6.8m during the year ending 06/2022. While expenses have increased by 13.9% 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
SUPPORT COASTAL CAROLINA UNIVERSITY THROUGH SCHOLARSHIPS AND PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY SUPPORT - THE FOUNDATION PROVIDES SALARY ENRICHMENT AND BENEFITS TO ATTRACT AND RETAIN TOP ADMINISTRATION.
PROGRAM SUPPORT - THE FOUNDATION FUNDS CHAIRS AND PROFESSORSHIPS FOR THE VARIOUS COLLEGES AND PROVIDES FUNDING FOR MANY OF THE RENOWNED PROGRAMS THAT HAVE LED COASTAL CAROLINA UNIVERSITY TO BE RECOGNIZED AS ONE OF "AMERICA'S 100 BEST COLLEGE BUYS" FOR ELEVEN CONSECUTIVE YEARS. ALSO, COASTAL CAROLINA UNIVERSITY IS RANKED SIXTH IN THE BEST VALUE CATEGORY FOR SOUTHERN REGIONAL UNIVERSITIES IN THE 2021 EDITION OF THE U.S. NEWS AND WORLD REPORT "BEST COLLEGE" ANNUAL RANKINGS.
SCHOLARSHIPS - THE FOUNDATION IS ABLE TO PROVIDE SCHOLARSHIP ASSISTANCE TO STUDENTS MEETING VARYING CRITERIA THROUGH BOTH ENDOWMENTS AND ANNUAL CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Johnson Executive Director | Officer | 40 | $146,372 |
Michael F Hagg Vice-Chairman | OfficerTrustee | 0.3 | $0 |
Tony K Cox Chairman | OfficerTrustee | 0.3 | $0 |
Christopher St John Secretary/treasurer | OfficerTrustee | 0.3 | $0 |
David D Douglas Member | Trustee | 0.3 | $0 |
Edgar L Dyer Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,005 |
| Fundraising events | $15,757 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,355,767 |
| Noncash contributions included in lines 1a–1f | $43,261 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,372,529 |
| Total Program Service Revenue | $0 |
| Investment income | $207,976 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,568 |
| Net Rental Income | $388,510 |
| Net Gain/Loss on Asset Sales | $3,230,731 |
| Net Income from Fundraising Events | $69,821 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,277,731 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,159,348 |
| 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 | $24 |
| Fees for services: Legal | $6,329 |
| Fees for services: Accounting | $20,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,736 |
| Fees for services: Other | $24,136 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,666 |
| Insurance | $21,731 |
| All other expenses | $0 |
| Total functional expenses | $6,753,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,044,186 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,273,674 |
| Accounts receivable, net | $10,601 |
| 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 | $4,552,107 |
| Investments—publicly traded securities | $51,254,676 |
| Investments—other securities | $3,244,450 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $333,042 |
| Total assets | $66,712,736 |
| Accounts payable and accrued expenses | $2,033,968 |
| Grants payable | $0 |
| Deferred revenue | $28,333 |
| 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 | $2,062,301 |
| Net assets without donor restrictions | $8,679,857 |
| Net assets with donor restrictions | $55,970,578 |
| 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 | $66,712,736 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Coastal Educational Foundation Incorporated has recieved totaling $265,240.
| Awarding Organization | Amount |
|---|---|
Gupta Family Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $200,000 |
Waccamaw Community Foundation Inc Murrells Inlet, SC PURPOSE: GRANTS TO SUPPORT MULTIPLE EDUCATIONAL PROGRAMS | $25,030 |
Ocean View Memorial Foundation Inc Myrtle Beach, SC PURPOSE: EDUCATIONAL | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $6,500 |
New Canaan Community Foundation Inc New Canaan, CT PURPOSE: SCHOLARSHIP GRANT | $6,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,426 |
Endowment Analysis
| Beg. Balance | $50,836,785 |
| Earnings | -$7,108,687 |
| Net Contributions | $2,151,358 |
| Other Expense | $1,463,911 |
| Ending Balance | $44,415,545 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
The Foundation Of The University Of North Carolina At Charlotte Inc Charlotte, NC | $296,107,277 | $34,157,132 |
College Of Charleston Foundation Charleston, SC | $165,475,152 | $11,402,265 |
Medical College Of Georgia Foundation Inc Augusta, GA | $352,081,028 | $12,607,438 |
East Carolina University Foundation Inc Greenville, NC | $186,990,398 | $28,752,906 |
Crossnore School Childrens Foundation Crossnore, NC | $37,541,780 | $0 |
James B Hunt Jr Institute For Educational Leadership And Policy Cary, NC | $11,369,627 | $8,988,543 |