Form 990 for tax year 2024
Filed by EAST ALABAMA RURAL INNOVATION AND TRAINING HUB FOUNDATION.
Totals
- Total revenue
- $2,233,463
- Total expenses
- $21,477,709
- Contributions and grants received
- $1,336,439
- Grants paid
- $20,384,500
- Program service revenue
- $0
- Investment income
- $884,187
- Other revenue
- $12,837
- Total assets, end of year
- $34,322,144
- Total liabilities, end of year
- $28,280,000
- Net assets or fund balances, end of year
- $6,042,144
- Program services expenses (Part IX)
- $21,473,257
- Management and general expenses
- $4,452
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $21,473,257
Program services were 100.0% 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
$1,336,439
-
3 · Investment income
total $884,187 · excluded $884,187
-
11a · Other revenue: OTHER INCOME
total $12,837 · related or exempt $12,837
-
11e · Other revenue, total
$12,837
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $20,384,500 · program services $20,384,500
-
7 · Other salaries and wages
total $79,544 · program services $79,544
-
9 · Other employee benefits
total $5,348 · program services $5,348
-
11c · Fees: accounting
total $938,467 · program services $938,467
-
12 · Advertising and promotion
total $1,170 · management and general $1,170
-
13 · Office expenses
total $5,381 · program services $5,204 · management and general $177
-
16 · Occupancy
total $363 · program services $339 · management and general $24
-
17 · Travel
total $2,077 · program services $1,869 · management and general $208
-
20 · Interest
total $29,386 · program services $29,386
-
22 · Depreciation, depletion and amortization
total $2,742 · program services $2,742
-
23 · Insurance
total $28,731 · program services $25,858 · management and general $2,873
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $23,752,805 · end of year $23,062,656
-
4 · Accounts receivable
beginning of year $104,633 · end of year $5,781,136
-
10a · Land, buildings and equipment: cost or other basis
$3,858,581
-
10b · Land, buildings and equipment: accumulated depreciation
$4,956
-
10c · Land, buildings and equipment, net
beginning of year $1,428,952 · end of year $3,853,625
-
15 · Other assets
beginning of year $0 · end of year $1,624,727
-
23 · Secured mortgages and notes payable
end of year $28,280,000
-
28 · Net assets with donor restrictions
beginning of year $25,286,390 · end of year $6,042,144
Mission and programs · 2024
Mission
EAST ALABAMA RURAL INNOVATION AND TRAINING HUB MISSION IS TO PROVIDE EAST ALABAMA AN EFFICIENT AND EFFECTIVE WORKFORCE DEVELOPMENT SYSTEM THAT IS RESPONSIVE TO CURRENT NEEDS OF INDIVIDUALS AND BUSINESSES WHILE ALSO LOOKING FORWARD TO FUTURE ECONOMIC DEVELOPMENT INITIATIVES.
-
THE EAST ALABAMA RURAL INNOVATION AND TRAINING HUB IS AN ECONOMIC DEVELOPMENT SOLUTION THAT INCLUDES INCUBATION AND INNOVATION OF RURAL IDEAS WHILE FOCUSING ON KNOWLEDGE-BASED SKILLS AND EDUCATION, TECHNOLOGY GROWTH, AND ENTREPRENEURSHIP ACROSS THE LIFESPAN. THE MODEL FOR THIS PROJECT WILL PROVIDE A COMPREHENSIVE APPROACH TO DEVELOP HUMAN CAPITAL, FOSTER INNOVATION, CREATE JOBS, LEVERAGE LOCAL RESOURCES AND INFRASTRUCTURE, AND EXPAND COMMUNITY, COUNTY, AND REGIONAL ENGAGEMENT.THE CAMPUS WILL BE EXPANSIVE, FOCUSING ON INCUBATION, PREPARING OUR WORKFORCE FOR ON-DEMAND JOBS, K-12 EDUCATION, AGRICULTURE, HOSPITALITY TRAINING, HEALTHCARE, AND INFORMATION TECHNOLOGY. EARTH TAKE A REGIONAL APPROACH TO CREATING ECONOMIC CHANGE BY CAPITALIZING ON UNIQUE ASSETS OF OUR COMMUNITY.
Expenses $21,473,257 · Grants $20,384,500
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jesse ClevelandJESSE CLEVELAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Avery EmbryAVERY EMBRY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Linda HardyLINDA HARDY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Drew HoneycuttDREW HONEYCUTT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Jason IsbellJASON ISBELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Gaines LivingstonGAINES LIVINGSTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Jeff LynnJEFF LYNN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Caitlyn McTierCAITLYN MCTIER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
John ParrishJOHN PARRISH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Adam PonderADAM PONDER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Lori SokolLORI SOKOL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Dr Steven TaylorDR STEVEN TAYLOR
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0
-
Margaret MortonMARGARET MORTON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Glenn SiskGLENN SISK
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Melva TateMELVA TATE
TREASURER
- Total calculated
- $0
- Hours/week
- 0
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
-
SYLACAUGA ALLIANCE FOR FAMILY ENHANCEMENT
$20,384,500
SUPPORT
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 August 2026
- IRS schema version
- 2024v5.5
- Source object
- 202632299349302133
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