Form 990 for tax year 2022
Filed by PINELLAS COUNTY EDUCATION FOUNDATION INC.
Totals
- Total revenue
- $9,197,386
- Total expenses
- $8,151,765
- Contributions and grants received
- $8,212,179
- Grants paid
- $3,987,297
- Program service revenue
- $0
- Investment income
- $1,005,844
- Other revenue
- -$20,637
- Total assets, end of year
- $48,071,111
- Total liabilities, end of year
- $1,249,422
- Net assets or fund balances, end of year
- $46,821,689
- Program services expenses (Part IX)
- $7,434,399
- Management and general expenses
- $591,553
- Fundraising expenses
- $125,813
- Program service expenses (Part III)
- $7,434,399
Program services were 91.2% 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.
-
1a · Federated campaigns
$105,000
-
1c · Fundraising events
$83,484
-
1e · Government grants (contributions)
$2,544,079
-
1f · All other contributions, gifts and grants
$5,479,616
-
1g · Noncash contributions included above
$2,458,113
-
3 · Investment income
total $606,557 · excluded $606,557
-
7a · Gross sales of assets other than inventory
securities $7,060,842
-
7b · Less cost or other basis and sales expenses
securities $6,661,555
-
7c · Gain or loss
securities $399,287
-
7d · Net gain or loss
total $399,287 · excluded $399,287
-
8a · Fundraising events: gross income
$2,940
-
8a · Fundraising events: contributions included on line 1c
$83,484
-
8b · Fundraising events: direct expenses
$23,577
-
8c · Net income from fundraising events
total -$20,637 · excluded -$20,637
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $981,098 · program services $981,098
-
2 · Grants to domestic individuals
total $3,006,199 · program services $3,006,199
-
5 · Compensation of officers, directors and key employees
total $427,174 · program services $349,293 · management and general $65,482 · fundraising $12,399
-
7 · Other salaries and wages
total $1,352,003 · program services $1,262,477 · management and general $36,885 · fundraising $52,641
-
8 · Pension plan contributions
total $36,566 · program services $34,242 · management and general $890 · fundraising $1,434
-
9 · Other employee benefits
total $201,589 · program services $186,110 · management and general $7,798 · fundraising $7,681
-
10 · Payroll taxes
total $122,607 · program services $111,350 · management and general $6,750 · fundraising $4,507
-
11b · Fees: legal
total $1,017 · management and general $1,017
-
11c · Fees: accounting
total $63,000 · management and general $63,000
-
11f · Fees: investment management
total $103,758 · management and general $103,758
-
11g · Fees: other
total $875,372 · program services $776,846 · management and general $96,260 · fundraising $2,266
-
12 · Advertising and promotion
total $7,013 · program services $610 · management and general $6,111 · fundraising $292
-
13 · Office expenses
total $373,152 · program services $319,013 · management and general $45,637 · fundraising $8,502
-
14 · Information technology
total $142,328 · program services $32,750 · management and general $80,082 · fundraising $29,496
-
16 · Occupancy
total $6,000 · management and general $6,000
-
17 · Travel
total $30,464 · program services $19,618 · management and general $10,157 · fundraising $689
-
19 · Conferences, conventions and meetings
total $366,951 · program services $349,377 · management and general $12,283 · fundraising $5,291
-
22 · Depreciation, depletion and amortization
total $15,166 · program services $3,593 · management and general $10,958 · fundraising $615
-
23 · Insurance
total $36,883 · program services $880 · management and general $36,003
-
24a · Other expenses: BUSINESS RELATIONS
total $3,425 · program services $943 · management and general $2,482
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,572,688 · end of year $842,640
-
2 · Savings and temporary cash investments
beginning of year $882,494 · end of year $1,415,616
-
3 · Pledges and grants receivable
beginning of year $2,827,817 · end of year $2,318,752
-
9 · Prepaid expenses and deferred charges
beginning of year $70,774 · end of year $59,814
-
10a · Land, buildings and equipment: cost or other basis
$155,628
-
10b · Land, buildings and equipment: accumulated depreciation
$125,841
-
10c · Land, buildings and equipment, net
beginning of year $38,125 · end of year $29,787
-
11 · Investments: publicly traded securities
beginning of year $20,112,213 · end of year $22,937,317
-
12 · Investments: other securities
beginning of year $1,553,681 · end of year $1,157,361
-
15 · Other assets
beginning of year $18,162,004 · end of year $19,309,824
-
17 · Accounts payable and accrued expenses
beginning of year $269,661 · end of year $371,177
-
19 · Deferred revenue
beginning of year $876,181 · end of year $695,500
-
25 · Other liabilities
beginning of year $150,303 · end of year $182,745
-
27 · Net assets without donor restrictions
beginning of year $3,424,499 · end of year $3,540,527
-
28 · Net assets with donor restrictions
beginning of year $41,499,152 · end of year $43,281,162
Mission and programs · 2022
Mission
TO ACCELERATE EDUCATIONAL ACHIEVEMENT FOR ALL STUDENTS THROUGH THE EFFECTIVE MOBILIZATION OF INNOVATION, RELATIONSHIPS, AND RESOURCES.
Activities or mission (Part I)
TO ACCELERATE EDUCATIONAL ACHIEVEMENT FOR ALL STUDENTS
-
TAKE STOCK IN CHILDREN (TSIC) IS A LONG-TERM INITIATIVE THAT AWARDS LOW-INCOME 6-9TH GRADERS WITH A COLLEGE SCHOLARSHIP AT HIGH SCHOOL GRADUATION, PAIRS THEM WITH A CARING MENTOR AND CONNECTS THEM TO COLLEGE AND CAREER COUNSELING AND SUPPORTS. BY MAINTAINING AT LEAST A "C" IN ALL CLASSES, MEETING WITH THEIR MENTOR, REMAINING DRUG AND CRIME FREE, ATTENDING COLLEGE SUCCESS PLANNING MEETINGS AND GRADUATING FROM HIGH SCHOOL, STUDENTS EARN THEIR SCHOLARSHIPS. WE PROVIDE RESOURCES AND SUPPORT FROM THE TIME THE STUDENT ENTERS THE PROGRAM THROUGH THEIR POSTSECONDARY ATTAINMENT FOR APPROXIMATELY 1,000 STUDENTS. SINCE ITS INCEPTION, TSIC HAS MAINTAINED A HIGH SCHOOL GRADUATION RATE OF 96% OR HIGHER.
Expenses $2,682,408 · Grants $2,034,566
-
WE HAVE THREE INITIATIVES THAT FOCUS ON IMPROVING READING PROFICIENCY FOR STUDENTS ARE OUR PINELLAS EARLY LITERACY INITIATIVE (PELI), READING RECOVERY, AND CLOSING THE GAP PROGRAMS. PELI STRATEGICALLY FOCUSES ON PRIORITIZING IMPROVEMENTS IN LITERACY INSTRUCTION FOR PRE-K AND K-2 STUDENTS. AND TEACHERS IN EIGHT PINELLAS COUNTY SCHOOLS AND FIVE COMMUNITY-BASED PRE-K'S. RECOGNIZING THAT A KINDERGARTEN READINESS GAP EXISTS FOR VOLUNTARY PREKINDERGARTEN (VPK) PARTICIPANTS, PARTICULARLY LOW-INCOME AND MINORITY STUDENTS, THIS INITIATIVE CONNECTS PUBLIC AND PRIVATE PRE-K PROVIDERS TO DEVELOPMENTALLY APPROPRIATE LITERACY TRAINING AND COACHING. (CONTINUED ON SCHEDULE O)BY LEVERAGING HIGH QUALITY PROFESSIONAL DEVELOPMENT WITH INSTRUCTIONAL COACHING FOR BOTH PRE-K AND K-2 TEACHERS, EARLY STUDENT LITERACY GAPS WILL DISSIPATE MORE RAPIDLY, EFFECTIVELY PREPARING STUDENTS FOR THE MORE RIGOROUS CONTENT OF GRADES 3-5. READING RECOVERY IS A HIGHLY EFFECTIVE SHORT-TERM INTERVENTION OF ONE-TO-ONE TUTORING FOR LOW-ACHIEVING FIRST GRADERS WHO ARE NOT CATCHING ON TO THE COMPLEX SET OF CONCEPTS THAT MAKE READING AND WRITING POSSIBLE. READING RECOVERY IS CURRENTLY IN 17 SCHOOLS THAT HAVE SOME OF THE LOWEST READING ASSESSMENT SCORES IN THE DISTRICT. INDIVIDUAL STUDENTS RECEIVE A HALF-HOUR LESSON EACH SCHOOL DAY FOR 12 TO 20 WEEKS WITH A SPECIALLY TRAINED READING RECOVERY TEACHER. CLOSING THE GAP GREW OUT OF RESEARCH THAT BOYS WERE LAGGING BEHIND GIRLS IN LITERACY ACHIEVEMENT ACROSS THE NATION AND IN PINELLAS COUNTY. TEACHERS ARE TRAINED IN BRAIN-BASED, RESEARCH-DRIVEN INSTRUCTIONAL STRATEGIES THAT ARE RESULTING IN HIGHER ACHIEVEMENT FOR BOTH BOYS AND GIRLS. OVER 280 TEACHERS HAVE BEEN PROVIDED WITH THIS TRAINING IMPACTING 4,264 STUDENTS.
Expenses $2,406,612 · Grants $546,866
-
WE AWARD MORE THAN 200 SCHOLARSHIPS TO GRADUATING PINELLAS COUNTY SCHOOL STUDENTS. THE SCHOLARSHIPS ARE AS VARIED AS THE SPONSORS WHO FUND THEM. DONORS CHOOSE THEIR CRITERIA AND FOCUS AREAS SUCH AS SPECIFIC MAJORS, VOLUNTEER HOURS, ACADEMIC ACHIEVEMENT, SPORTS, OR FINANCIAL NEED. STUDENTS APPLY FOR THESE SCHOLARSHIPS THROUGH THE FOUNDATION'S WEBSITE WHEREBY ONE APPLICATION RUNS THROUGH A SORTING PROCESS FOR ALL THE AVAILABLE SCHOLARSHIP FUNDS. SCHOLARSHIPS MAY BE EITHER ONE-TIME AWARDS OR RENEWABLE SCHOLARSHIPS FOR STUDENTS WHO CONTINUE TO MEET THE SCHOLARSHIP QUALIFICATIONS THROUGHOUT COLLEGE.
Expenses $1,029,490 · Grants $929,048
-
Withheld by Nonprofiteer: this text may name a private individual.
Expenses $535,773 · Grants $123,633
-
STAVROS INSTITUTE:THE GUS STAVROS INSTITUTE IS A STATE-OF-THE-ART LEARNING COMPLEX DEDICATED TO EDUCATING STUDENTS IN THE FREE ENTERPRISE SYSTEM. THE INSTITUTE HOUSES TWO SEPARATE AND DISTINCT PROGRAMS:(1) ENTERPRISE VILLAGE TEACHES FIFTH-GRADE STUDENTS ABOUT AMERICA'S ECONOMIC SYSTEM THROUGH HANDS-ON BUSINESS SIMULATIONS. EACH YEAR, MORE THAN 12,000 FIFTH GRADE STUDENTS HAVE THE OPPORTUNITY TO RUN A RADIO STATION, PUBLISH A NEWSPAPER, WORK IN A BANK, OR MANAGE A UTILITIES CORPORATION AND MANY OTHER TYPES OF BUSINESSES.(2) FINANCE PARK TEACHES EIGHTH-GRADE STUDENTS PERSONAL FINANCIAL MANAGEMENT IN A REALITY-BASED CENTER. EACH YEAR, MORE THAN 10,000 EIGHTH GRADE STUDENTS LEARN LESSONS IN PERSONAL FINANCE MANAGEMENT--AN INTRODUCTION TO THE WORLD OF MONETARY DECISION-MAKING.
Expenses $283,295 · Grants $20,116
-
SCHOOL-BASED PROJECTS:SCHOOL-BASED PROJECTS INCLUDE PROGRAMS THAT DIRECTLY BENEFIT INDIVIDUAL SCHOOLS SUCH AS THE PINELLAS COUNTY CENTER FOR THE ARTS PROGRAM AT GIBBS HIGH SCHOOL, ST. PETERSBURG HIGH SCHOOL'S GREEN DEVIL ALUMNI FUND, THE ACADEMY OF FINANCE PROGRAM AT NORTHEAST HIGH SCHOOL, AND THE JACOBSON CULINARY ARTS ACADEMY AT TARPON SPRINGS HIGH SCHOOL.
Expenses $348,445 · Grants $221,038
-
DISTRICT-WIDE INITIATIVES:SCHOOL ENHANCEMENT GRANTS AND DISTRICT-WIDE INITIATIVES PROVIDES FINANCIAL RESOURCES DIRECTLY TO PINELLAS COUNTY SCHOOLS TO ENHANCE THEIR PROGRAMS AND CURRICULUM.
Expenses $148,376 · Grants $112,030
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.
Listed in Part VII
-
Tash ElwynTASH ELWYN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Robert ByelickROBERT BYELICK
VICE CHARIMAN
- Total calculated
- $0
- Hours/week
- 1
-
Pierre CaramazzaPIERRE CARAMAZZA
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Susan JohnsonSUSAN JOHNSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Charles HarrisCHARLES HARRIS
IMMEDIATE PAST CHARIMAN
- Total calculated
- $0
- Hours/week
- 1
-
Joseph BakerJOSEPH BAKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Douglas BishopDOUGLAS BISHOP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Josh BomsteinJOSH BOMSTEIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Johnny BoykinsJOHNNY BOYKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa CaneLISA CANE
DIRECTOR (JOINED 11/7/22)
- Total calculated
- $0
- Hours/week
- 0.25
-
William CarlsonWILLIAM CARLSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Cathy CollinsCATHY COLLINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Richard CrippenRICHARD CRIPPEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Sebastian DortchSEBASTIAN DORTCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Mark FernandezMARK FERNANDEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Rene FlowersRENE FLOWERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Bill GoedeBILL GOEDE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Michael HarpoleMICHAEL HARPOLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Mitchell LeeMITCHELL LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Robert McIntyreROBERT MCINTYRE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steven McMullenSTEVEN MCMULLEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James MyersJAMES MYERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Irwin NovackIRWIN NOVACK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
William PingletonWILLIAM PINGLETON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Gary RegoliGARY REGOLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Amy RettigAMY RETTIG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Craig SherCRAIG SHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Ellen StavrosELLEN STAVROS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Jeffrey WalkerJEFFREY WALKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Ben WeiderBEN WEIDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Eileen LongEILEEN LONG
DIRECTOR (THRU 11/6/22)
- Total calculated
- $0
- Hours/week
- 0.25
-
Teresa RooneyTERESA ROONEY
DIRECTOR (THRU 11/16/22)
- Total calculated
- $0
- Hours/week
- 1
-
Stacy BaierSTACY BAIER
CEO (THRU 5/2023)
- Total calculated
- $307,180
- From this org
- $262,897
- From related orgs
- $0
- Other
- $44,283
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $236,230
- Bonus
- $26,322
- Other
- $345
- Deferred
- $8,209
- Nontaxable benefits
- $36,074
- Filer's total
- $307,180
-
Terry BoehmTERRY BOEHM
INTERIM CEO
- Total calculated
- $0
- Hours/week
- 40
-
Anita SamarooANITA SAMAROO
CONTROLLER
- Total calculated
- $112,290
- From this org
- $101,167
- From related orgs
- $0
- Other
- $11,123
- Hours/week
- 40
-
Julie PerrelliJULIE PERRELLI
VP OF ADVANCEMENT
- Total calculated
- $142,167
- From this org
- $113,487
- From related orgs
- $0
- Other
- $28,680
- Hours/week
- 40
-
Lisa FastingLISA FASTING
VP OF PROGRAMS
- Total calculated
- $109,763
- From this org
- $106,204
- From related orgs
- $0
- Other
- $3,559
- Hours/week
- 40
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 · Independent compensation consultant
- 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
- PER EMPLOYMENT AGREEMENT, THE CEO CAN EARN AN ANNUAL BONUS OF UP TO 20% OF BASE SALARY, BASED UPON THE ACHIEVEMENT OF ANNUAL PERFORMANCE GOALS ESTABLISHED BY THE BOARD. THE NUMBER OF EXCEEDED OR MET GOALS AS A PERCENTAGE OF TOTAL GOALS IS THE BASELINE FOR CEO'S MAXIMUM BONUS OF 20% BASE SALARY.
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
-
PINELLAS COUNTY SCHOOLS
$701,032
CLASSROOM & SCHOOL GRANTS (SEE PROGRAM SERVICE DESCRIPTIONS)
-
PROGRAM SUPPORT (SEE PROGRAM SERVICE DESCRIPTIONS)
-
$30,000
PROGRAM SUPPORT (SEE PROGRAM SERVICE DESCRIPTIONS)
-
PINELLAS COUNTY SHERIFF'S OFFICE
$10,000
PROGRAM SUPPORT (SEE PROGRAM SERVICE DESCRIPTIONS)
-
PROGRAM SUPPORT (SEE PROGRAM SERVICE DESCRIPTIONS)
-
$6,000
PROGRAM SUPPORT (SEE PROGRAM SERVICE DESCRIPTIONS)
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER UNITRUST (1)
INVESTMENTS · FL · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202401369349303220
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