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Nonprofiteer
← R E B FOUNDATION

Form 990 for tax year 2023

Filed by R E B FOUNDATION.

Totals

Total revenue
$4,402,735
Total expenses
$3,390,408
Contributions and grants received
$0
Grants paid
$2,913,628
Program service revenue
$0
Investment income
$4,392,512
Other revenue
$10,223
Total assets, end of year
$65,437,212
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$65,437,212
Program services expenses (Part IX)
$2,919,887
Management and general expenses
$470,521
Fundraising expenses
$0
Program service expenses (Part III)
$2,919,887

Program services were 86.1% 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.

  • 3 · Investment income

    total $871,525 · unrelated business -$36,654 · excluded $908,179

  • 7a · Gross sales of assets other than inventory

    securities $3,520,987

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $3,520,987

  • 7d · Net gain or loss

    total $3,520,987 · unrelated business $171,309 · excluded $3,349,678

  • 11a · Other revenue: TAX REFUNDS

    total $10,223 · excluded $10,223

  • 11e · Other revenue, total

    $10,223

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,913,628 · program services $2,913,628

  • 11b · Fees: legal

    total $500 · management and general $500

  • 11c · Fees: accounting

    total $15,565 · management and general $15,565

  • 11f · Fees: investment management

    total $300,414 · management and general $300,414

  • 13 · Office expenses

    total $7,631 · program services $4,579 · management and general $3,052

  • 19 · Conferences, conventions and meetings

    total $140 · program services $70 · management and general $70

  • 24a · Other expenses: UBI TAXES

    total $150,870 · management and general $150,870

  • 24b · Other expenses: PROGRAM EXPENSES

    total $1,610 · program services $1,610

  • 24c · Other expenses: OTHER TAX/LICENSE/FEES

    total $50 · management and general $50

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $977,134 · end of year $2,546,664

  • 12 · Investments: other securities

    beginning of year $64,101,629 · end of year $62,890,548

  • 17 · Accounts payable and accrued expenses

    beginning of year $699 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $65,078,064 · end of year $65,437,212

Mission and programs · 2023

Mission

SUPPORTS AWARDS FOR TEACHING EXCELLENCE AND DISTINGUISHED EDUCATIONAL LEADERSHIP AS WELL AS ANNUAL GRANTS TO EDUCATIONAL, CULTURAL, AND SOCIAL SERVICE PROGRAMS.

  • ANNUAL GRANTS MADE TO THE COMMUNITY FOUNDATION, INC. FOR DISBURSEMENT TO EDUCATIONAL, CULTURAL, AND SOCIAL SERVICE PROGRAMS.

    Expenses $2,087,723 · Grants $2,081,464

  • GRANTS MADE TO THE COMMUNITY FOUNDATION, INC. TO FUND THE R.E.B. AWARDS FOR DISTINGUISHED EDUCATIONAL LEADERSHIP, WHICH RECOGNIZES PRINCIPALS WHO GO BEYOND THE DAY-TO-DAY DEMANDS OF THEIR POSITION TO CREATE AN EXCEPTIONAL EDUCATIONAL ENVIRONMENT. FOUR PRINCIPALS WERE PUBLICLY RECOGNIZED, ONE EACH FROM LOCAL SCHOOL DISTRICTS IN CHESTERFIELD, HANOVER, HENRICO, AND CITY OF RICHMOND IN 2023. EACH PRINCIPAL RECEIVED A $10,000 CASH GRANT FOR PERSONAL USE AND AN ADDITIONAL $20,000 FOR THEIR PROPOSED SCHOOL PROJECT. FOUR RUNNER-UP PRINCIPALS WERE ALSO RECOGNIZED AND RECEIVED $10,000 AWARDS TO SUPPORT THEIR PROPOSED SCHOOL PROJECTS.

    Expenses $160,000 · Grants $160,000

  • GRANTS MADE TO THE COMMUNITY FOUNDATION, INC. TO FUND THE R.E.B. AWARDS FOR TEACHING EXCELLENCE, WHICH RECOGNIZES PUBLIC SCHOOL TEACHERS WHO DISTINGUISH THEMSELVES BY THEIR INSPIRING CLASSROOM PERFORMANCE. THE PROGRAM IS BASED ON THE BELIEF THAT A POSITIVE EDUCATIONAL EXPERIENCE AT THE ELEMENTARY, MIDDLE, AND HIGH SCHOOL LEVELS HELPS CHILDREN FORM POSITIVE LIFELONG HABITS TOWARD LEARNING AND DISCIPLINE. THROUGH A NOMINATION PROCESS, 31 OUTSTANDING TEACHERS WERE SELECTED IN 2023 TO RECEIVE CASH GRANTS TO SUPPORT PROFESSIONAL DEVELOPMENT ACTIVITIES.

    Expenses $233,800 · Grants $233,800

  • R.E.B EDUCATIONAL IMPACT GRANT AWARDS - IN 2023, THE FOUNDATION AWARDED GRANTS (THROUGH THE COMMUNITY FOUNDATION, INC.) TO THE UNIVERSITY OF RICHMOND AND VIRGINIA COMMONWEALTH UNIVERSITY (VCU) FOUNDATION TO RECRUIT, SUPPORT, AND RETAIN TEACHERS IN THE AREA. THE GRANT TO THE UNIVERSITY OF RICHMOND WILL HELP THEM IMPLEMENT A SCHOOL-BASED TEACHER EDUCATION PROGRAM TO ADDRESS INEXPERIENCED AND UNDERQUALIFIED TEACHERS. THE GRANT TO VCU FOUNDATION WILL HELP THEM RECRUIT, PREPARE, AND SUPPORT QUALITY TEACHERS THROUGH THEIR TEACHER RESIDENCY PROGRAM; THEY WILL ALSO CREATE A PIPELINE OF HIGHLY-SKILLED, FULLY LICENSED K-12 LEADERS (INCLUDING PRINCIPALS & ASSISTANT PRINCIPALS) THROUGH THEIR LEADER RESIDENCY PROGRAM.

    Expenses $438,364 · Grants $438,364

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Susanne B Crump

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Carol B Showker

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • William Ls Rowe

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • E Bryson Powell

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Robert L Burrus Jr

    DIRECTOR

    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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202443119349303069

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