Foundation For Educational Exchange Between Canada & The U S A
- Assets
- $14.3m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Founding
- 02/1992
- Data as of
- 08/2022
- EIN
- 98-0118943
Organization Overview
Foundation For Educational Exchange Between Canada & The U S A is located in null. The organization was established in 1992. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Educational Exchange Between Canada & The U S A 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 08/2022, Foundation For Educational Exchange Between Canada & The U S A generated $5.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $4.6m during the year ending 08/2022. While expenses have increased by 7.2% 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
INCREASE UNDERSTANDING B/W CANADA & USA BY PROVIDING OPPORTUNITIES FOR EDUCATIONAL EXCHANGE FOR BOTH US AND CDN. SCHOLARS TO FACILITATE COMMUNICATIONS BETWEEN THE TWO COUNTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ATTACHED.
SEE ATTACHED.
SEE ATTACHED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael Hawes CEO | Officer | 60 | $338,142 |
Mr Obie Mckenzie Board Member | Trustee | 1 | $0 |
Dr Walter Schindler Board Member | Trustee | 1 | $0 |
Mr Daniel Mccarthy Board Chair | Trustee | 3 | $0 |
Mr Ajay Royan Board Member | Trustee | 2 | $0 |
Mr Emmanuel Kamarianakis Board Member | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,950,752 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,029,374 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,980,126 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $4,981,444 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,724,547 |
| Grants and other assistance to Foreign Orgs/Individuals | $972,855 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $338,142 |
| Compensation of current officers, directors, key employees. | $338,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $580,804 |
| Pension plan accruals and contributions | $76,589 |
| Other employee benefits | $56,802 |
| Payroll taxes | $35,533 |
| Fees for services: Management | $185,142 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,262 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,575 |
| Office expenses | $10,391 |
| Information technology | $8,914 |
| Royalties | $0 |
| Occupancy | $133,895 |
| Travel | $200,028 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $94,184 |
| Interest | $3,185 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,479 |
| Insurance | $5,018 |
| All other expenses | $533 |
| Total functional expenses | $4,571,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,818,115 |
| Savings and temporary cash investments | $11,853,149 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $356,581 |
| 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 | $17,187 |
| Net Land, buildings, and equipment | $31,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $239,019 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,315,683 |
| Accounts payable and accrued expenses | $76,683 |
| Grants payable | $0 |
| Deferred revenue | $1,227,899 |
| 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 | $174,248 |
| Total liabilities | $1,478,830 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $12,836,853 |
| Total liabilities and net assets/fund balances | $14,315,683 |
Endowment Analysis
| Beg. Balance | $248,378 |
| Earnings | $5,641 |
| Grants | $15,000 |
| Ending Balance | $239,019 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Luso-American Development Foundation | $182,222,263 | $19,932,627 |
Alliance Cooperative Internationale | $7,111,802 | $6,330,982 |
Foundation For Educational Exchange Between Canada & The U S A | $14,315,683 | $4,981,444 |
Fundy Community Foundation | $8,939,309 | $1,416,669 |
Caribbean Anti-Poverty Relieffoundation | $19,048 | $0 |