Colorado Restaurant Association Education Fund
- Assets
- $1.3m
- Revenue
- $873.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 05/1988
- Data as of
- 12/2023
- EIN
- 74-2488379
Organization Overview
Colorado Restaurant Association Education Fund, operating under the name Colorado Restaurant Association Education Foundation, is located in Denver, CO. The organization was established in 1988. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Colorado Restaurant Association 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 12/2023, Colorado Restaurant Association Education Foundation generated $873.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 20.3% 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.
Since 2017, Colorado Restaurant Association Education Foundation has awarded 282 individual grants totaling $2,406,354. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COLORADO RESTAURANT FOUNDATION IS DEDICATED TO ENHANCING THE INDUSTRY'S TRAINING AND EDUCATION, CAREER DEVELOPMENT AND THE OVERALL WELL-BEING OF THE INDUSTRY AND ITS WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROSTART AND APPRENTICESHIP PROGRAMS: PROSTART IS A HIGH SCHOOL EDUCATION PROGRAM THAT OFFERS RESTAURANT/HOSPITALITY MANAGEMENT, CULINARY ARTS, AND BUSINESS ECONOMICS CURRICULUM AND PROVIDES HIGH SCHOOL AND COLLEGE ACADEMIC CREDIT, SCHOLARSHIPS, AND PAID WORK EXPERIENCE OPPORTUNITIES. APPRENTICESHIP PROGRAMS ARE COMPETENCY-BASED APPRENTICESHIPS DESIGNED FOR PEOPLE OF ALL AGES COMMITTED TO CAREERS IN THE RESTAURANT INDUSTRY. APPRENTICES LEARN ON-THE-JOB TRAINING IN SPECIFIC CULINARY OR MANAGEMENT COMPETENCIES COUPLED WITH CLASSROOM AND/OR SELF-PACED INSTRUCTION.
SCHOLARSHIPS:THE SCHOLARSHIP PROGRAM PROVIDES SCHOLARSHIPS TO COLORADO PROSTART GRADUATES AND POST-SECONDARY UNDERGRADUATES THAT ARE PURSUING A COLLEGE EDUCATION IN THE FOODSERVICE AND HOSPITALITY INDUSTRIES.
ASSISTANCE: THE ASSISTANCE PROGRAM PROVIDES FINANCIAL ASSISTANCE TO INDUSTRY EMPLOYEES FOR UNEXPECTED ILLNESS, INJURY, NATRUAL DISASTER, AND MENTAL HEALTH CARE.
SPECIAL EVENTS:SPECIAL EVENTS ARE HELD TO RECOGNIZE THE ACCOMPLISHMENTS OF PROGRAM PARTICIPANTS. PRIMARY EVENTS HELD EACH YEAR ARE THE SCHOLARSHIP AWARDS AND PROSTART STUDENT INVITATIONAL. THE SCHOLARSHIP AWARD EVENT IS HELD TO RECOGNIZE SCHOLARSHIP RECIPIENTS IN THE PROSTART PROGRAMS WHO ARE PURSUING SECONDARY EDUCATION IN THE FIELD. THE COLORADO PROSTART STUDENT INVITATIONAL AND NATIONAL PROSTART STUDENT INVITATIONAL) ARE COMPETITIONS WHERE PROSTART STUDENTS COMPETE WITH THEIR PEERS IN OTHER COLORADO HIGH SCHOOLS AND WITH STATE WINNING TEAMS FROM OTHER STATES, RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Steron Chairman | OfficerTrustee | 2 | $0 |
Daniel Ramirez Chairman (thru 10/23) | OfficerTrustee | 2 | $0 |
Lauren Roberts Controller (thru 10/23) | OfficerTrustee | 2 | $0 |
Luis Ramirez Director/treasurer | OfficerTrustee | 2 | $0 |
Emily Biederman Treasurer (thru 10/23)/controller | OfficerTrustee | 2 | $0 |
Mallory Cullen VP At Large | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $29,074 |
| Related organizations | $0 |
| Government grants | $413,364 |
| All other contributions, gifts, grants, and similar amounts not included above | $291,438 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $733,876 |
| Total Program Service Revenue | $51,086 |
| Investment income | $24,263 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,997 |
| Net Income from Fundraising Events | $54,977 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $873,186 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $279,089 |
| Grants and other assistance to domestic individuals. | $34,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $201,787 |
| Compensation of current officers, directors, key employees. | $46,683 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $396,116 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,484 |
| Payroll taxes | $50,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $817 |
| Fees for services: Accounting | $24,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $18,000 |
| Fees for services: Investment Management | $7,005 |
| Fees for services: Other | $14,658 |
| Advertising and promotion | $0 |
| Office expenses | $60,994 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,351 |
| Travel | $11,381 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,048 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,545 |
| All other expenses | $0 |
| Total functional expenses | $1,585,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $81,607 |
| 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 | $93 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,057,627 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,310,788 |
| Accounts payable and accrued expenses | $70,578 |
| 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 | $381,016 |
| Total liabilities | $451,594 |
| Net assets without donor restrictions | $402,536 |
| Net assets with donor restrictions | $456,658 |
| 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 | $1,310,788 |
Grants Awarded
Over the last fiscal year, Colorado Restaurant Association Education Fund has awarded $164,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
THE PLIMOTH PURPOSE: APPRENTICESHIP PROGRAM SUPPORT | $6,000 |
CHARLES A SAENZ DBA WHEELS ON FIRE LLC PURPOSE: APPRENTICESHIP PROGRAM SUPPORT | $6,000 |
DENVER MUSEUM OF NATURAL HISTORY DBA DENVER MUSEUM OF SCIENCE AND NATURE PURPOSE: APPRENTICESHIP PROGRAM SUPPORT | $6,000 |
DASH AND A TWIST LLC DBA NOCTURNE PURPOSE: APPRENTICESHIP PROGRAM SUPPORT | $6,000 |
CULINARY HELPING ENTREPRENEURIAL FOLKS CHEF INC PURPOSE: APPRENTICESHIP PROGRAM SUPPORT | $9,000 |
SKILLS VOCATIONAL ACADEMY PURPOSE: APPRENTICESHIP PROGRAM SUPPORT | $13,500 |