Form 990 for tax year 2022
Filed by SOUTHERN EDUCATION FOUNDATION INC.
Totals
- Total revenue
- $8,861,264
- Total expenses
- $4,267,510
- Contributions and grants received
- $7,556,460
- Grants paid
- $150,000
- Program service revenue
- $0
- Investment income
- $1,226,149
- Other revenue
- $78,655
- Total assets, end of year
- $30,404,725
- Total liabilities, end of year
- $1,182,294
- Net assets or fund balances, end of year
- $29,222,431
- Program services expenses (Part IX)
- $3,293,250
- Management and general expenses
- $789,732
- Fundraising expenses
- $184,528
- Program service expenses (Part III)
- $3,293,250
Program services were 77.2% 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.
-
1e · Government grants (contributions)
$306,213
-
1f · All other contributions, gifts and grants
$7,250,247
-
1g · Noncash contributions included above
$430,305
-
3 · Investment income
total $768,331 · excluded $768,331
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $850,116
-
7b · Less cost or other basis and sales expenses
securities $392,298
-
7c · Gain or loss
securities $457,818
-
7d · Net gain or loss
total $457,818 · excluded $457,818
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: OTHER INCOME
total $78,655 · excluded $78,655
-
11e · Other revenue, total
$78,655
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $150,000 · program services $150,000
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $816,683 · program services $653,346 · management and general $98,002 · fundraising $65,335
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $973,270 · program services $778,616 · management and general $116,792 · fundraising $77,862
-
8 · Pension plan contributions
total $56,275 · program services $45,020 · management and general $6,753 · fundraising $4,502
-
9 · Other employee benefits
total $73,051 · program services $58,441 · management and general $8,766 · fundraising $5,844
-
10 · Payroll taxes
total $123,770 · program services $99,016 · management and general $14,852 · fundraising $9,902
-
11a · Fees: management
total $1,090,214 · program services $955,916 · management and general $117,620 · fundraising $16,678
-
11b · Fees: legal
total $54,337 · program services $5,944 · management and general $48,393
-
11c · Fees: accounting
total $47,075 · management and general $47,075
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $128,281 · management and general $128,281
-
11g · Fees: other
total $74,564 · program services $74,564
-
12 · Advertising and promotion
total $40,477 · program services $27,054 · management and general $13,423
-
13 · Office expenses
total $80,881 · program services $45,887 · management and general $34,048 · fundraising $946
-
14 · Information technology
total $10,731 · program services $1,530 · management and general $9,201
-
15 · Royalties
total $0
-
16 · Occupancy
total $193,613 · program services $174,252 · management and general $19,361
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $197,237 · program services $113,613 · management and general $81,190 · fundraising $2,434
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $63,933 · program services $63,933
-
23 · Insurance
total $3,737 · management and general $3,737
-
24a · Other expenses: DUES AND SUBSCRIPTIONS
total $57,408 · program services $26,618 · management and general $29,765 · fundraising $1,025
-
24b · Other expenses: HONORARIA
total $27,000 · program services $19,500 · management and general $7,500
-
24c · Other expenses: TAXES & LICENSES
total $4,973 · management and general $4,973
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $1,981,934 · end of year $169,925
-
3 · Pledges and grants receivable
beginning of year $2,000,000 · end of year $1,278,450
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$478,694
-
10b · Land, buildings and equipment: accumulated depreciation
$318,761
-
10c · Land, buildings and equipment, net
beginning of year $223,866 · end of year $159,933
-
11 · Investments: publicly traded securities
beginning of year $27,761,743 · end of year $28,159,369
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $730,073 · end of year $637,048
-
17 · Accounts payable and accrued expenses
beginning of year $75,923 · end of year $280,085
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $200,000
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $1,106,005 · end of year $702,209
-
27 · Net assets without donor restrictions
beginning of year $17,831,927 · end of year $16,517,736
-
28 · Net assets with donor restrictions
beginning of year $13,683,761 · end of year $12,704,695
Mission and programs · 2022
Mission
THE SOUTHERN EDUCATION FOUNDATION'S MISSION IS TO ADVANCE EQUITY AND EXCELLENCE IN EDUCATION FOR ALL STUDENTS IN THE SOUTH, PARTICULARLY LOW-INCOME STUDENTS AND STUDENTS OF COLOR. SEF USES COLLABORATION, ADVOCACY, AND RESEARCH TO IMPROVE OUTCOMES FROM EARLY CHILDHOOD TO ADULTHOOD. OUR CORE BELIEF IS THAT EDUCATION IS THE VEHICLE BY WHICH ALL STUDENTS GET FAIR CHANCES TO DEVELOP THEIR TALENTS AND CONTRIBUTE TO THE COMMON GOOD. SEF STRIVES TO FULFILL ITS MISSION THROUGH THE FOLLOWING CORE PROGRAM AREAS: EXPANDING EARLY LEARNING OPPORTUNITIES, ADVANCING PUBLIC EDUCATION AND IMPROVING COLLEGE ACCESS AND COMPLETION. SEF EXECUTES FIVE PRIMARY STRATEGIES ACROSS OUR PROGRAMS: LEVERAGING KNOWLEDGE OF THE FIELD: BY ESTABLISHING AND OPERATING TASK FORCES, WORK GROUPS, AND LEARNING COMMUNITIES TO ORGANIZE KNOWLEDGE AND ADVANCE NEW SOLUTIONS TO LONG STANDING PROBLEMS; PUTTING GOOD IDEAS TO A FAIR TEST: PROMOTING, CONDUCTING, AND USING DEMONSTRATIONS, PILOTS, AND EVALUATIONS TO SHAPE POLICY AND PRAC
Activities or mission (Part I)
TO IMPROVE THE QUALITY OF LIFE FOR DISADVANTAGED RESIDENTS IN THE SOUTHERN UNITED STATES BY PROMOTING EQUITY AND EXCELLENCE IN EDUCATION.
-
For a summary of our strategies, activities and accomplishments in 2022 follows for each program area, please see continuation on Schedule O.
Expenses $3,293,250 · Grants $150,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Raymond Pierce
President
- Total calculated
- $386,148
- From this org
- $335,175
- From related orgs
- $0
- Other
- $50,973
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $308,175
- Bonus
- $15,000
- Other
- $12,000
- Deferred
- $44,300
- Nontaxable benefits
- $8,646
- Filer's total
- $388,121
-
Kenita Williams
Chief Operating Officer
- Total calculated
- $246,673
- From this org
- $210,000
- From related orgs
- $0
- Other
- $36,673
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $200,000
- Bonus
- $10,000
- Other
- $0
- Deferred
- $30,000
- Nontaxable benefits
- $8,361
- Filer's total
- $248,361
-
Leighton O'Sullivan
Chief Financial Officer
- Total calculated
- $178,632
- From this org
- $150,834
- From related orgs
- $0
- Other
- $27,798
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,834
- Bonus
- $10,000
- Other
- $0
- Deferred
- $21,125
- Nontaxable benefits
- $8,242
- Filer's total
- $180,201
-
Fred Jones Jr
Senior Director of Public Poli
- Total calculated
- $158,341
- From this org
- $124,370
- From related orgs
- $0
- Other
- $33,971
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $116,870
- Bonus
- $7,500
- Other
- $0
- Deferred
- $18,428
- Nontaxable benefits
- $17,142
- Filer's total
- $159,940
-
Max Altman
Director of Research and Polic
- Total calculated
- $141,931
- From this org
- $130,833
- From related orgs
- $0
- Other
- $11,098
- Hours/week
- 40
-
Dr Michael Nettles
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Dr Hakim Lucas
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
-
Kenneth Jones II
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Judith Leonard
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Larry Berger
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Ajay Mehrota
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Michelle Warman
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Careshia Moore
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Charlotte Morris
Trustee
- 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 7
- BONUSES WERE BASED ON PERFORMANCE EVALUATIONS.
- PART II COLUMN (B)(III)
- AUTOMOBILE EXPENSE
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
Fulton County Schools
$75,000
Support
-
The Duval County School Board
$65,000
Support
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323179349312207
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