Buncombe County Schools Foundation Incorporated
- Assets
- $5.0m
- Revenue
- $749.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 08/1987
- Data as of
- 06/2023
- EIN
- 58-1685536
Organization Overview
Buncombe County Schools Foundation Incorporated is located in Asheville, NC. The organization was established in 1987. 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. Buncombe County Schools 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 06/2023, Buncombe County Schools Foundation Incorporated generated $749.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $832.4k during the year ending 06/2023. 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
TO ESTABLISH PARTNERSHIPS WITH LOCAL INDIVIDUALS, BUSINESSES, CORPORATIONS AND OTHER FOUNDATIONS FOR THE PURPOSE OF SUPPORTING EDUCATION IN THE BUNCOMBE COUNTY SCHOOL SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUNCOMBE COUNTY SCHOOLS FOUNDATION HAS THREE FUNDING INITIATIVES THAT FULFILL OUR MISSION AND MAKE AN IMMEDIATE AND IMPACTFUL DIFFERENCE IN OUR SCHOOLS. THE THREE INITIATIVES ARE: 1) TEACHER INNOVATION GRANTS - EXPANDING TEACHER'S CLASSROOMS THROUGH ENHANCEMENTS AND CREATIVITY BY PROVIDING CURRICULUM FOCUSED GRANTS. ADDITIONALLY, THE FOUNDATION ALLOCATES FUNDS TO IMPORTANT CURRICULUM ENHANCEMENTS ACROSS THE DISTRICT IN GRADES K-13. MORE THAN $42,000 WAS DISTRIBUTED TO 75 EDUCATORS DURING THE SCHOOL YEAR.
2) THE BOOKMOBILE - THE BOOKMOBILE PROVIDES READING OPPORTUNITIES TO YOUNG CHILDREN IN THE COMMUNITY. THE BOOKMOBILE RECEIVED A FACELIFT AND MAKEOVER IN 2021 AND BEGAN TO PROVIDED CAREER INFORMATION FOR PARENTS. ONGOING FUNDS ARE NEEDED TO KEEP THIS PROGRAM UP AND RUNNING.
3) THE FOUNDATION SUPPORTED SCHOLARSHIPS FOR THE GRADUATING SENIORS AT THE SIX TRADITIONAL HIGH SCHOOLS IN THE BUNCOMBE COUNTY SCHOOLS SYSTEM, AND AT EARLY COLLEGE AND COMMUNITY HIGH SCHOOLS. THE TOTAL AMOUNT OF SCHOLARSHIP DOLLARS AWARDED FOR 2022-23 WAS $290,013 FOR 193 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christy Cheek Executive Director | Officer | 29 | $0 |
Alex Diez President | OfficerTrustee | 2 | $0 |
Dana Jones Vice-President | OfficerTrustee | 2 | $0 |
Kim Plemmons Treasurer | OfficerTrustee | 2 | $0 |
Fairley Patton Secretary | OfficerTrustee | 2 | $0 |
Dan Anderson Past President | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,446 |
| Related organizations | $0 |
| Government grants | $34,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $573,053 |
| Noncash contributions included in lines 1a–1f | $44,487 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $643,999 |
| Total Program Service Revenue | $15,514 |
| Investment income | $119,774 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$29,490 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $749,797 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,721 |
| Grants and other assistance to domestic individuals. | $290,013 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,713 |
| Fees for services: Other | $0 |
| Advertising and promotion | $49,388 |
| Office expenses | $16,679 |
| Information technology | $3,052 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $2,512 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,173 |
| All other expenses | $3,520 |
| Total functional expenses | $832,389 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,937 |
| Savings and temporary cash investments | $1,095,555 |
| Pledges and grants receivable | $14,750 |
| 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 | $3,711,223 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,950,465 |
| Accounts payable and accrued expenses | $21,190 |
| 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 | $21,190 |
| Net assets without donor restrictions | $171,540 |
| Net assets with donor restrictions | $4,757,735 |
| 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 | $4,950,465 |