Form 990 for tax year 2024
Filed by EDUCATIONAL FOUNDATION OF LAKE COUNTY INC.
Totals
- Total revenue
- $2,178,677
- Total expenses
- $1,668,680
- Contributions and grants received
- $1,048,126
- Grants paid
- $0
- Program service revenue
- $423,995
- Investment income
- $30,824
- Other revenue
- $675,732
- Total assets, end of year
- $5,780,541
- Total liabilities, end of year
- $250,425
- Net assets or fund balances, end of year
- $5,530,116
- Program services expenses (Part IX)
- $1,477,583
- Management and general expenses
- $95,549
- Fundraising expenses
- $95,548
- Program service expenses (Part III)
- $1,477,583
Program services were 88.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1a · Federated campaigns
$21,064
-
1f · All other contributions, gifts and grants
$1,027,062
-
1g · Noncash contributions included above
$302,022
-
2a · Program service revenue: PROGRAMRECOGNITION
total $423,995 · related or exempt $423,995
-
3 · Investment income
total $30,824 · related or exempt $30,824
-
8a · Fundraising events: gross income
$1,210,388
-
8b · Fundraising events: direct expenses
$534,656
-
8c · Net income from fundraising events
total $675,732 · excluded $675,732
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $126,732 · program services $63,366 · management and general $31,683 · fundraising $31,683
-
7 · Other salaries and wages
total $72,965 · program services $36,483 · management and general $18,241 · fundraising $18,241
-
8 · Pension plan contributions
total $28,954 · program services $14,477 · management and general $7,239 · fundraising $7,238
-
9 · Other employee benefits
total $25,638 · program services $13,266 · management and general $6,186 · fundraising $6,186
-
10 · Payroll taxes
total $21,737 · program services $10,869 · management and general $5,434 · fundraising $5,434
-
11c · Fees: accounting
total $8,200 · program services $4,100 · management and general $2,050 · fundraising $2,050
-
13 · Office expenses
total $27,940 · program services $13,970 · management and general $6,985 · fundraising $6,985
-
17 · Travel
total $3,904 · program services $1,952 · management and general $976 · fundraising $976
-
22 · Depreciation, depletion and amortization
total $3,084 · program services $1,542 · management and general $771 · fundraising $771
-
23 · Insurance
total $9,363 · program services $4,681 · management and general $2,341 · fundraising $2,341
-
24a · Other expenses: STUDENT AND TEACHER SUPPORT
total $919,710 · program services $919,710
-
24b · Other expenses: SCHOLARSHIPS
total $365,879 · program services $365,879
-
24c · Other expenses: CONTRACT LABOR
total $705 · program services $353 · management and general $176 · fundraising $176
-
24d · Other expenses: BOARD MEETINGS
total $6,176 · program services $3,088 · management and general $1,544 · fundraising $1,544
-
24e · All other expenses
total $47,693 · program services $23,847 · management and general $11,923 · fundraising $11,923
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $187 · end of year $187
-
2 · Savings and temporary cash investments
beginning of year $2,028,629 · end of year $2,111,441
-
4 · Accounts receivable
beginning of year $24,857 · end of year $26,194
-
8 · Inventories for sale or use
beginning of year $159,000 · end of year $51,000
-
10a · Land, buildings and equipment: cost or other basis
$81,433
-
10b · Land, buildings and equipment: accumulated depreciation
$79,407
-
10c · Land, buildings and equipment, net
beginning of year $5,110 · end of year $2,026
-
11 · Investments: publicly traded securities
beginning of year $930,261 · end of year $1,706,679
-
15 · Other assets
beginning of year $2,107,582 · end of year $1,883,014
-
17 · Accounts payable and accrued expenses
beginning of year $223,799 · end of year $199,227
-
25 · Other liabilities
beginning of year $11,925 · end of year $51,198
-
27 · Net assets without donor restrictions
beginning of year $2,877,709 · end of year $2,223,303
-
28 · Net assets with donor restrictions
beginning of year $2,142,193 · end of year $3,306,813
Mission and programs · 2024
Mission
THE EDUCATIONAL FOUNDATION IS THE DIRECT SUPPORT ORGANIZATION FOR LAKE COUNTY PUBLIC SCHOOLS. OUR MISSION IS TO SERVE AS THE CONNECTION BETWEEN OUR COMMUNITY AND PUBLIC EDUCATION, EVALUATING NEEDS AND SECURING RESOURCES TO ENHANCE THE QUALITY OF EDUCATION.
-
DIRECT SUPPORT OF STUDENTS AND TEACHERS IN LAKE COUNTY THROUGH THE PROVISION OF GRANTS, SCHOLARSHIPS AND RECOGNITION EVENTS TO ENCOURAGE EXCELLENCE IN EDUCATION.
Expenses $1,477,583
As filed on the 2024 return.
Listed in Part VII
-
Kristy ParsonsKRISTY PARSONS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Be ThompsonBE THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lyndsi JohnsonLYNDSI JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Meeghan MoldofMEEGHAN MOLDOF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rosanne BrandenburgROSANNE BRANDENBURG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bobby RhodesBOBBY RHODES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth JohnsonELIZABETH JOHNSON
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 40
-
Diane KornegayDIANE KORNEGAY
DIRECTOR - EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie LukeSTEPHANIE LUKE
DIRECTOR - EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Ellsabeth EmeryELLSABETH EMERY
DIRECTOR EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Lee WoodsLEE WOODS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peyton GrinnellPEYTON GRINNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Don MarxDON MARX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jimmy AdamsJIMMY ADAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marc Robertz-SchwartzMARC ROBERTZ-SCHWARTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Doris Jackson-ShazierDORIS JACKSON-SHAZIER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Erika CorleyERIKA CORLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joe MacLarenJOE MACLAREN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rich BillingsRICH BILLINGS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Lori BakerLORI BAKER
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Matthew HacklerMATTHEW HACKLER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Kasey HobbsKASEY HOBBS
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
MIKE DeGRAW
EXECUTIVE ADVISOR
- Total calculated
- $0
- Hours/week
- 1
-
Loren VasquezLOREN VASQUEZ
EXECUTIVE ADVISOR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin StoneKEVIN STONE
BOARD ATTORNEY
- Total calculated
- $0
- Hours/week
- 1
-
Cindi FalangaCINDI FALANGA
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 July 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543469349300124
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