National Career Technical Education Foundation Inc
- Assets
- $4.2m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Silver Spring, MD
- Founding
- 06/1991
- Data as of
- 06/2022
- EIN
- 73-1086246
Organization Overview
National Career Technical Education Foundation Inc, operating under the name The Center To Advance Cte, is located in Silver Spring, MD. The organization was established in 1991. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. Center To Advance Cte 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, Center To Advance Cte generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.9% each year . All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 29.9% 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
TO FOSTER THE SUPPORTS, RESOURCES AND PERSPECTIVES NECESSARY TO ENSURE HIGH-QUALITY CTE IS ADVANCED THROUGHOUT THE COUNTRY, LEADING TO A HIGHLY-SKILLED WORKFORCE AND PRODUCTIVE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RECEIVES GRANTS/CONTRACTS AND PARTNERS WITH OTHERORGANIZATIONS TO DEVELOP THE RESOURCES AND SUPPORTS NECESSARY TO ENSUREHIGH-QUALITY CAREER TECHNICAL EDUCATION IS ADVANCED THROUGHOUT THECOUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Sarah Heath Past President | OfficerTrustee | 0.5 | $0 |
Katie Graham Secretary-Treasurer | OfficerTrustee | 0.5 | $0 |
Kimberly A Green Executive Director | Officer | 29 | $0 |
Wendi Safstrom Director | Trustee | 0.3 | $0 |
Dr Nicole Smith Director | Trustee | 0.3 | $0 |
Alex Harris Director | Trustee | 0.3 | $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 | $2,716,460 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,716,460 |
| Total Program Service Revenue | $3,114 |
| Investment income | $52,425 |
| 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 | $2,771,999 |
| 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. | $259,655 |
| Compensation of current officers, directors, key employees. | $9,828 |
| Compensation to disqualified persons | $641,634 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $247,763 |
| Payroll taxes | $72,976 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,256 |
| Fees for services: Accounting | $23,792 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,436 |
| Fees for services: Other | $906,298 |
| Advertising and promotion | $0 |
| Office expenses | $6,811 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $131,366 |
| Travel | $50,352 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,954 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,178 |
| Insurance | $5,857 |
| All other expenses | $3,575 |
| Total functional expenses | $2,472,230 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,046,105 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $442,501 |
| 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 | $384 |
| Net Land, buildings, and equipment | $13,308 |
| Investments—publicly traded securities | $2,686,133 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,188,431 |
| Accounts payable and accrued expenses | $278,299 |
| 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 | $122,886 |
| Total liabilities | $401,185 |
| Net assets without donor restrictions | $1,553,021 |
| Net assets with donor restrictions | $2,234,225 |
| 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 | $4,188,431 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that National Career Technical Education Foundation Inc has recieved totaling $6,486,582.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $3,000,000 |
Ecmc Foundation Minneapolis, MN PURPOSE: Career Readiness | $1,261,582 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF CREATING ECONOMIC MOBILITY AND CAREER PATHWAYS | $1,000,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: POSTSECONDARY EDUCATION | $500,000 |
Annie E Casey Foundation Baltimore, MD PURPOSE: SUPPORT FOR IMPLEMENTATION OF STIMULUS TO SYSTEMS | $200,000 |
Annie E Casey Foundation Baltimore, MD PURPOSE: SUPPORT FOR IMPLEMENTATION OF STIMULUS TO SYSTEMS | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Achieving The Dream Inc Silver Spring, MD | $48,979,373 | $23,156,070 |
Camc Health Education And Research Institute Inc Charleston, WV | $10,132,150 | $15,955,209 |
Us Ignite Inc Washington, DC | $5,718,790 | $15,311,234 |
Washington Yu Ying Public Charter School Washington, DC | $27,086,728 | $12,170,772 |
National Association For College Admission Counseling Inc Arlington, VA | $22,607,858 | $9,863,408 |
Families For Excellent Schools Inc Wilmington, DE | $10,176 | $5,945,808 |
National Alliance For Public Charter Schools Washington, DC | $20,433,842 | $17,753,309 |
Ecumenical Community Hershey, PA | $4,358,759 | $9,348,993 |
American Federation For Children Growth Fund Inc Columbia, MD | $9,265,288 | $14,325,717 |
Mcelhattan Foundation Pittsburgh, PA | $120,280,311 | $4,922,440 |
Mid-Atlantic Region Commission On Higher Education Wilmington, DE | $17,355,711 | $12,036,917 |
A Wider Circle Inc Silvers Spring, MD | $9,165,754 | $9,301,796 |