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Nonprofiteer
← FRIENDS OF EDUCATION

Form 990 for tax year 2023

Filed by FRIENDS OF EDUCATION.

Totals

Total revenue
$3,078,804
Total expenses
$1,133,552
Contributions and grants received
$2,129,581
Grants paid
$83,419
Program service revenue
$0
Investment income
$949,223
Other revenue
$0
Total assets, end of year
$4,911,760
Total liabilities, end of year
$21,289
Net assets or fund balances, end of year
$4,890,471
Program services expenses (Part IX)
$1,084,052
Management and general expenses
$37,110
Fundraising expenses
$12,390
Program service expenses (Part III)
$1,084,052

Program services were 95.6% 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.

  • 1f · All other contributions, gifts and grants

    $2,129,581

  • 3 · Investment income

    total $60,188 · excluded $60,188

  • 7a · Gross sales of assets other than inventory

    securities $1,727,394

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

    securities $838,359

  • 7c · Gain or loss

    securities $889,035

  • 7d · Net gain or loss

    total $889,035 · excluded $889,035

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $83,419 · program services $83,419

  • 11a · Fees: management

    total $520,905 · program services $511,343 · management and general $9,562

  • 11b · Fees: legal

    total $8,268 · program services $8,268

  • 11c · Fees: accounting

    total $28,073 · program services $28,073

  • 11g · Fees: other

    total $452,745 · program services $452,745

  • 12 · Advertising and promotion

    total $16,690 · management and general $16,690

  • 13 · Office expenses

    total $3,359 · management and general $3,359

  • 19 · Conferences, conventions and meetings

    total $204 · program services $204

  • 24a · Other expenses: FUNDRAISING

    total $12,390 · fundraising $12,390

  • 24b · Other expenses: MEMBERSHIPS

    total $6,979 · management and general $6,979

  • 24c · Other expenses: BANK CHARGES

    total $520 · management and general $520

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $80,426 · end of year $118,270

  • 2 · Savings and temporary cash investments

    beginning of year $311,426 · end of year $315,412

  • 9 · Prepaid expenses and deferred charges

    end of year $76,865

  • 11 · Investments: publicly traded securities

    beginning of year $2,682,755 · end of year $4,401,213

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,438 · end of year $21,289

  • 27 · Net assets without donor restrictions

    beginning of year $3,060,169 · end of year $4,890,471

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO IMPROVE THE EDUCATION OF CHILDREN.

  • TO AUTHORIZE CHARTER SCHOOLS.

    Expenses $725,205

  • TO SUPPORT PROGRAMS WHICH IMPROVE STUDENT ACHIEVEMENT.

    Expenses $358,847 · Grants $83,419

As filed on the 2023 return.

Listed in Part VII

  • Edward Flaherty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • James Kopp

    DIRECTOR/CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Mike Frey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Beth Topoluk

    DIRECTOR/SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Darin Opperman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Bendt

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    2

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • STUDENT ACHIEVEMENT MINNESOTA LLC

    SPONSOR CHARTER SCHOOLS · MN · income $57,104 · assets $52,261

    Directly controlled by FRIENDS OF EDUCATION

Provenance

Return type
form_990
Tax year
2023
Filed
22 January 2025
IRS schema version
2023v6.0
Source object
202530589349300013

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