Form 990 for tax year 2022
Filed by FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION INC.
Totals
- Total revenue
- $12,619,382
- Total expenses
- $8,866,364
- Contributions and grants received
- $12,579,199
- Grants paid
- $8,298,749
- Program service revenue
- $0
- Investment income
- $40,183
- Other revenue
- $0
- Total assets, end of year
- $14,426,849
- Total liabilities, end of year
- $5,848,421
- Net assets or fund balances, end of year
- $8,578,428
- Program services expenses (Part IX)
- $8,588,963
- Management and general expenses
- $182,446
- Fundraising expenses
- $94,955
- Program service expenses (Part III)
- $8,588,963
Program services were 96.9% 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
$12,579,199
-
1g · Noncash contributions included above
$574
-
3 · Investment income
total $23,593 · excluded $23,593
-
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 $1,370,879
-
7b · Less cost or other basis and sales expenses
securities $1,354,289
-
7c · Gain or loss
securities $16,590
-
7d · Net gain or loss
total $16,590 · excluded $16,590
-
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
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $5,157,132 · program services $5,157,132
-
2 · Grants to domestic individuals
total $297,454 · program services $297,454
-
3 · Grants to foreign organizations and individuals
total $2,844,163 · program services $2,844,163
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0 · program services $0 · management and general $0 · fundraising $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $394,296 · program services $222,658 · management and general $113,923 · fundraising $57,715
-
11b · Fees: legal
total $374 · management and general $374
-
11c · Fees: accounting
total $19,946 · management and general $19,346 · fundraising $600
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $7,103 · management and general $7,103
-
11g · Fees: other
total $16,000 · program services $16,000
-
12 · Advertising and promotion
total $500 · program services $500
-
13 · Office expenses
total $26,105 · program services $299 · management and general $7,109 · fundraising $18,697
-
14 · Information technology
total $5,680 · program services $556 · management and general $5,124 · fundraising $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $66,868 · program services $48,902 · management and general $23 · fundraising $17,943
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $1,444 · management and general $1,444
-
24a · Other expenses: RESEARCH
total $1,299 · program services $1,299
-
24b · Other expenses: BAD DEBT EXPENSES
total $28,000 · management and general $28,000
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $50,956 · end of year $167,530
-
2 · Savings and temporary cash investments
beginning of year $2,186,901 · end of year $2,386,473
-
3 · Pledges and grants receivable
beginning of year $7,297,004 · end of year $11,872,846
-
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
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $1,370,879 · end of year $0
-
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 $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $21,457 · end of year $4,429
-
18 · Grants payable
beginning of year $5,904,114 · end of year $5,843,992
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
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 $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year -$2,489,304 · end of year -$3,740,769
-
28 · Net assets with donor restrictions
beginning of year $7,469,473 · end of year $12,319,197
Mission and programs · 2022
Mission
Established in 2012 as an independent, non-partisan, grant-making organization, The Foundation for Excellence in Higher Education, Inc. ("FEHE") funds and advises programs at elite universities where the next generation of cultural leaders are formed. We advance our mission of academic and cultural renewal by building internal university programs supported by external institutes, forming exceptional students in character and virtue through close mentorship and intellectual friendship, networking these students with select faculty, industry leaders, and with each other, and multiplying their impact across industries, geographies, and generations.
Activities or mission (Part I)
FEHE Funds and advises programs at elite universities where the next generation of cultural leaders are formed.
-
In the 2021-22 academic year alone, our network sponsored 53 for-credit courses for over 1,500 students, and hosted over 1,000 seminars, lectures, and conferences with over 18,000 attendees. FEHE currently supports twenty-seven institutes and programs at fourteen elite universities. These programs are forming exceptional students through intellectual friendship, connecting them with each other, and positioning them at key points of cultural influence in academia, law, politics, business, media, finance, and medicine. FEHE's impact on elite universities and the broader culture is significant and growing. In the past five years alone, our grantees have reached approximately 100,000 students and young scholars through 5,000 events and 217 for-credit courses. The growth of each of these metrics (students and attendees up 177 percent; events up 88 percent; for-credit courses up 400 percent) demonstrates FEHE's success in advancing its goals of forming students and supporting the next generation of scholars and leaders.
Expenses $8,588,963 · Grants $8,298,749
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Boyd Smith
Chairman, Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Luis Tellez
President, Trustee
- Total calculated
- $0
- Hours/week
- 30
-
Peter Brinckerhoff
Treasurer, Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Donald Readlinger
Secretary, Trustee
- Total calculated
- $0
- Hours/week
- 1
-
G David Bednar
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Thalia Considine
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Francis Hager
trustee
- Total calculated
- $0
- Hours/week
- 1
-
Robert George
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Steven Justice
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Thomas Trkla
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Kelly Hanlon
Director of Operations
- Total calculated
- $0
- Hours/week
- 28
-
John Doherty
Assistant Treasurer
- Total calculated
- $0
- Hours/week
- 18
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
-
$1,036,250
Scholarship, general, human flourishing program
-
$844,615
General Operations
-
$490,000
General operations
-
$410,000
Paul Mchugh program for human flourishing
-
$325,000
General operations
-
$301,577
general operations
-
$275,000
General operations
-
$250,000
General operations
-
$250,000
General operations
-
$233,695
General operations, barry center
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202302859349301025
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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