Gloucester Education Foundation
- Assets
- $2.7m
- Revenue
- $687.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Gloucester, MA
- Founding
- 04/2006
- Data as of
- 03/2022
- EIN
- 57-1224669
Organization Overview
Gloucester Education Foundation is located in Gloucester, MA. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 03/2022, Gloucester Education Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gloucester 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 03/2022, Gloucester Education Foundation generated $687.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $511.0k during the year ending 03/2022. 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
PROVIDE SUPPORT TO GLOUCESTER PUBLIC SCHOOLS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT PROGRAM SUPPORT TO GLOUCESTER, MASSACHUSETTS PUBLIC SCHOOLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aria Mcelehenny Executive Director | 0 | $32,692 | |
Emily Siegel Executive Director | Officer | 40 | $30,219 |
Serena Low President | OfficerTrustee | 1.25 | $0 |
Justine Laurie Treasurer | OfficerTrustee | 1.25 | $0 |
John Bjorlie Clerk | OfficerTrustee | 1 | $0 |
Joe Calomo Director | Trustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $583,044 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $603,044 |
| Total Program Service Revenue | $0 |
| Investment income | $84,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $687,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $373,353 |
| 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. | $70,427 |
| Compensation of current officers, directors, key employees. | $17,607 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,100 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $301 |
| Fees for services: Accounting | $75 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,189 |
| Fees for services: Other | $5,219 |
| Advertising and promotion | $2,512 |
| Office expenses | $0 |
| Information technology | $5,007 |
| Royalties | $0 |
| Occupancy | $10,336 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,185 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $672 |
| All other expenses | $1,925 |
| Total functional expenses | $510,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $722,831 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,000 |
| 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 | $2,600 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,945,044 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,682,475 |
| Accounts payable and accrued expenses | $4,249 |
| 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 | $4,249 |
| Net assets without donor restrictions | $2,435,648 |
| Net assets with donor restrictions | $242,578 |
| 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 | $2,682,475 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Gloucester Education Foundation has recieved totaling $1,834.
| Awarding Organization | Amount |
|---|---|
New England Biolabs Foundation Ipswich, MA PURPOSE: EXPANSION OF ENVIRONMENTAL SCIENCE AND BIOLAB PROGRAM AT O'MALEY INNOVATION MIDDLE SCHOOL | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $334 |
Endowment Analysis
| Beg. Balance | $1,844,123 |
| Earnings | $35,893 |
| Admin Expense | $10,189 |
| Net Contributions | $148,151 |
| Other Expense | $313,512 |
| Ending Balance | $1,704,466 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Trustees For Harvard University Cambridge, MA | $1,524,141,919 | $57,204,982 |
The University Of Rhode Island Foundation & Alumni Engagement Kingston, RI | $283,152,721 | $40,864,874 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
University Of New Hampshire Foundation Incorporated Durham, NH | $251,217,834 | $34,299,189 |
Harvard Private Capital Realty Inc Boston, MA | $2,527,458,180 | $415,073,812 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Massachusetts Foundation Inc Boston, MA | $842,030,994 | $57,111,837 |