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Nonprofiteer
← PINELLAS COUNTY EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by PINELLAS COUNTY EDUCATION FOUNDATION INC.

Totals

Total revenue
$9,774,915
Total expenses
$7,899,613
Contributions and grants received
$8,473,323
Grants paid
$2,998,286
Program service revenue
$0
Investment income
$1,323,207
Other revenue
-$21,615
Total assets, end of year
$51,103,915
Total liabilities, end of year
$844,462
Net assets or fund balances, end of year
$50,259,453
Program services expenses (Part IX)
$7,165,878
Management and general expenses
$510,234
Fundraising expenses
$223,501
Program service expenses (Part III)
$7,165,878

Program services were 90.7% 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

    $106,038

  • 1c · Fundraising events

    $86,240

  • 1e · Government grants (contributions)

    $1,238,127

  • 1f · All other contributions, gifts and grants

    $7,042,918

  • 1g · Noncash contributions included above

    $1,285,297

  • 3 · Investment income

    total $817,901 · excluded $817,901

  • 7a · Gross sales of assets other than inventory

    securities $4,017,372

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

    securities $3,510,026 · other assets $2,040

  • 7c · Gain or loss

    securities $507,346 · other assets -$2,040

  • 7d · Net gain or loss

    total $505,306 · excluded $505,306

  • 8a · Fundraising events: gross income

    $7,600

  • 8a · Fundraising events: contributions included on line 1c

    $86,240

  • 8b · Fundraising events: direct expenses

    $29,215

  • 8c · Net income from fundraising events

    total -$21,615 · excluded -$21,615

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $431,231 · program services $431,231

  • 2 · Grants to domestic individuals

    total $2,567,055 · program services $2,567,055

  • 5 · Compensation of officers, directors and key employees

    total $333,216 · program services $231,932 · management and general $89,409 · fundraising $11,875

  • 7 · Other salaries and wages

    total $1,400,929 · program services $1,201,265 · management and general $115,014 · fundraising $84,650

  • 8 · Pension plan contributions

    total $29,848 · program services $29,026 · fundraising $822

  • 9 · Other employee benefits

    total $131,467 · program services $125,965 · management and general $1,563 · fundraising $3,939

  • 10 · Payroll taxes

    total $129,130 · program services $106,329 · management and general $15,707 · fundraising $7,094

  • 11b · Fees: legal

    total $30,469 · program services $21,018 · management and general $2,697 · fundraising $6,754

  • 11c · Fees: accounting

    total $57,000 · program services $39,330 · management and general $10,830 · fundraising $6,840

  • 11f · Fees: investment management

    total $129,009 · management and general $129,009

  • 11g · Fees: other

    total $1,147,720 · program services $1,088,284 · management and general $41,686 · fundraising $17,750

  • 12 · Advertising and promotion

    total $29,017 · program services $20,453 · management and general $765 · fundraising $7,799

  • 13 · Office expenses

    total $822,814 · program services $781,998 · management and general $22,913 · fundraising $17,903

  • 14 · Information technology

    total $185,955 · program services $108,407 · management and general $50,211 · fundraising $27,337

  • 16 · Occupancy

    total $6,000 · program services $4,140 · management and general $1,140 · fundraising $720

  • 17 · Travel

    total $39,931 · program services $37,739 · management and general $723 · fundraising $1,469

  • 19 · Conferences, conventions and meetings

    total $380,248 · program services $342,445 · management and general $15,557 · fundraising $22,246

  • 22 · Depreciation, depletion and amortization

    total $12,903 · program services $4,142 · management and general $6,692 · fundraising $2,069

  • 23 · Insurance

    total $35,671 · program services $25,119 · management and general $6,318 · fundraising $4,234

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $842,640 · end of year $490,697

  • 2 · Savings and temporary cash investments

    beginning of year $1,415,616 · end of year $765,528

  • 3 · Pledges and grants receivable

    beginning of year $2,318,752 · end of year $3,762,719

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,814 · end of year $51,518

  • 10a · Land, buildings and equipment: cost or other basis

    $163,050

  • 10b · Land, buildings and equipment: accumulated depreciation

    $112,872

  • 10c · Land, buildings and equipment, net

    beginning of year $29,787 · end of year $50,178

  • 11 · Investments: publicly traded securities

    beginning of year $22,937,317 · end of year $26,001,245

  • 12 · Investments: other securities

    beginning of year $1,157,361 · end of year $1,262,567

  • 15 · Other assets

    beginning of year $19,309,824 · end of year $18,719,463

  • 17 · Accounts payable and accrued expenses

    beginning of year $371,177 · end of year $377,329

  • 19 · Deferred revenue

    beginning of year $695,500 · end of year $308,860

  • 25 · Other liabilities

    beginning of year $182,745 · end of year $158,273

  • 27 · Net assets without donor restrictions

    beginning of year $3,540,527 · end of year $4,224,963

  • 28 · Net assets with donor restrictions

    beginning of year $43,281,162 · end of year $46,034,490

Mission and programs · 2023

Mission

WE ACCELERATE ACADEMIC ACHIEVEMENT FOR ALL STUDENTS. WE BELIEVE IN EQUITY FOR ALL STUDENTS, REGARDLESS OF ECONOMIC STATUS. WE CREATE DIVERSE PATHWAYS FOR STUDENTS AFTER HIGH SCHOOL, WHETHER THEY PURSUE FURTHER EDUCATION OR ENTER THE WORKFORCE.

Activities or mission (Part I)

WE ACCELERATE EDUCATIONAL ACHIEVEMENT FOR ALL STUDENTS.

  • WE STRATEGICALLY FOCUS ON LITERACY ACHIEVEMENT BECAUSE RESEARCH CONSISTENTLY SHOWS THAT READING AT GRADE LEVEL BY THIRD GRADE IS A STRONG PREDICTOR OF A STUDENT'S LONG-TERM ACADEMIC SUCCESS, LAYING A SOLID FOUNDATION FOR THEIR ENTIRE EDUCATIONAL JOURNEY. WE HAVE TWO KEY PROGRAMS COMMITTED TO IMPROVING LITERACY OUTCOMES: THE PINELLAS EARLY LITERACY INITIATIVE (PELI) AND CLOSING THE GAP. (CONTINUED ON SCHEDULE O)PELI FOCUSES ON INCREASING PROFESSIONAL DEVELOPMENT AND COACHING FOR PRE-K THROUGH 2ND-GRADE TEACHERS. NOW ENTERING ITS FOURTH YEAR IN OUR SCHOOL DISTRICT, PELI AIMS TO INCREASE THE NUMBER OF STUDENTS READING AT GRADE LEVEL BY THIRD GRADE THROUGH TARGETED PROFESSIONAL DEVELOPMENT AND COACHING. THIS PAST SCHOOL YEAR, 89% OF PARTICIPATING PELI SCHOOLS HAD GAINS IN ENGLISH LANGUAGE ARTS PROFICIENCY, AND OVER 800 TEACHERS PARTICIPATED IN PROFESSIONAL DEVELOPMENT FOCUSED ON LITERACY AND IMPROVING INSTRUCTIONAL STRATEGIES. CLOSING THE GAP ADDRESSES THE GENDER ACHIEVEMENT GAP IN LITERACY WITHOUT OUR SCHOOLS. THIS INITIATIVE PROVIDES PROFESSIONAL DEVELOPMENT FOR TEACHERS AND ADMINISTRATORS, EQUIPPING THEM WITH RESEARCH-BASED PRACTICES TO HELP MALE STUDENTS IMPROVE THEIR FOCUS AND COMPREHENSION. WE HAVE 21 SCHOOLS PARTICIPATING AND 8 OF THOSE SCHOOLS HAVE CLOSED THE GENDER ACHIEVEMENT LITERACY GAP.

    Expenses $2,744,987 · Grants $620,113

  • OUR TAKE STOCK IN CHILDREN (TSIC) PROGRAM IS A LONG-TERM INITIATIVE THAT PAIRS LOW-INCOME STUDENTS WITH CARING MENTORS, COLLEGE SUCCESS COACHES AND GIVES THEM A COMMITMENT OF A COLLEGE SCHOLARSHIP. STUDENTS ENTER THE PROGRAM BETWEEN THE GRADES OF 6-9 AND WE CONTINUE TO SUPPORT THEM THROUGH THEIR HIGH SCHOOL GRADUATION. STUDENTS MUST MAINTAIN AT LEAST A 'C' AVERAGE IN ALL CLASSES, MEET REGULARLY WITH THEIR MENTOR, REMAIN DRUG AND CRIME-FREE, ATTEND COLLEGE SUCCESS PLANNING MEETINGS, AND GRADUATE FROM HIGH SCHOOL. WE PROVIDE RESOURCES AND SUPPORT FROM THE TIME STUDENTS ENTER THE PROGRAM THROUGH THEIR POSTSECONDARY ATTAINMENT, SERVING APPROXIMATELY 1,100 STUDENTS ANNUALLY. SINCE ITS INCEPTION, TSIC HAS MAINTAINED A HIGH SCHOOL GRADUATION RATE OF 96% OR HIGHER. IN THE 23-24 SCHOOL YEAR, TSIC HAD A 99% GRADUATION RATE.

    Expenses $2,227,467 · Grants $1,481,423

  • WE MANAGE OVER 200 SCHOLARSHIPS ENTRUSTED TO US BY THE COMMUNITY TO AWARD GRADUATING HIGH SCHOOL SENIORS. THESE SCHOLARSHIPS VARY IN AMOUNT BASED ON THE CRITERIA SET BY DONORS WHO FUND THEM, WHO MAY FOCUS ON SPECIFIC MAJORS, VOLUNTEER HOURS, ACADEMIC ACHIEVEMENTS, SPORTS, OR FINANCIAL NEEDS. STUDENTS APPLY FOR THESE SCHOLARSHIPS THROUGH OUR WEBSITE, WHERE A SINGLE APPLICATION IS PROCESSED FOR ALL SCHOLARSHIPS THAT THE STUDENT MEETS THE CRITERIA. SCHOLARSHIPS CAN BE EITHER ONE-TIME AWARDS OR RENEWABLE FOR STUDENTS WHO CONTINUE TO MEET QUALIFICATIONS THROUGHOUT THEIR POST-SECONDARY EDUCATION. STUDENTS MUST BE ENROLLED AS SENIORS IN PINELLAS COUNTY SCHOOLS, AND THESE SCHOLARSHIPS ARE SEPARATE FROM OUR TAKE STOCK IN CHILDREN MENTORING PROGRAM SCHOLARSHIPS.

    Expenses $923,921 · Grants $775,091

  • OTHER PROGRAMS AND DISTRICT SUPPORT: WE HOST EVENTS LIKE THE EVENING OF EXCELLENCE, OUR ANNUAL TEACHER OF THE YEAR CELEBRATION, AND WALKER'S RISING STARS SCHOLARSHIP PROGRAM, A COMPETITION HONORING THE DISTRICT'S TOP STUDENT PERFORMERS IN THE ARTS, INCLUDING VISUAL AND CULINARY ARTISTS.

    Expenses $830,878 · Grants $76,808

  • CURRICULUM ENRICHMENTS:WE ENRICH THE LEARNING EXPERIENCE OF STUDENTS AND TEACHERS BY AWARDING GRANTS THAT FUND INNOVATIVE CLASSROOM PROJECTS BEYOND THE STANDARD CURRICULUM, HANDS ON LEARNING OPPORTUNITIES THAT INCREASE LEARNING AS WELL AS FOSTER AND DEVELOP ESSENTIAL LIFE SKILLS.ONE OF OUR SIGNATURE INITIATIVES, ENTERPRISE VILLAGE, HELPS FIFTH-GRADE STUDENTS DEVELOP BASIC ECONOMIC CONCEPTS AND UNDERSTAND THE PROCESS BETWEEN BUSINESSES AND CONSUMERS. DURING A ONE-DAY FIELD TRIP, STUDENTS CAN WORK IN ONE OF 20+ PROFESSIONS, TAKE BREAKS, RECEIVE PAYCHECKS AND MAKE PURCHASES. EVERY FIFTH-GRADE STUDENT IN PINELLAS COUNTY SCHOOLS VISITS ENTERPRISE VILLAGE. FINANCE PARK IS A SIMILAR REALITY-BASED PROGRAM DESIGNED TO TEACH PERSONAL FINANCIAL MANAGEMENT AND INTRODUCE MONETARY DECISION-MAKING. EVERY EIGHTH-GRADE STUDENT IN PINELLAS COUNTY SCHOOLS VISITS FINANCE PARK.

    Expenses $232,163 · Grants $13,386

  • COLLEGE AND CAREER READINESS:WE STRATEGICALLY INVEST IN PROGRAMS THAT PREPARE STUDENTS FOR POST-SECONDARY EDUCATION OR EQUIP THEM WITH THE SKILLS THEY NEED TO ENTER THE WORKFORCE. COLLEGE AND CAREER CENTERS ARE LOCATED IN EVERY HIGH SCHOOL IN PINELLAS COUNTY AND SERVE AS SUPPORT HUBS FOR STUDENTS AND FAMILIES TO PROVIDE INDIVIDUALIZED AND TARGETED ASSISTANCE TO NAVIGATE THE COLLEGE ADMISSIONS PROCESS. THIS INCLUDES CAREER EXPLORATION, COLLEGE EXPLORATION, APPLICATION SUBMISSION, SAT/ACT PREPARATION, COLLEGE FAIRS AND EVENTS, AND FINANCIAL AND SCHOLARSHIP PLANNING.

    Expenses $206,462 · Grants $31,466

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tash Elwyn

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Robert Byelick

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Pierre Caramazza

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Susan Johnson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Charles Harris

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Douglas Bishop

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Josh Bomstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Johnny Boykins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cathy Collins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Richard Crippen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Dan Doherty

    DIRECTOR (TERM START 1/25/24)

    Total calculated
    $0
    Hours/week
    0.25

  • Mark Fernandez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Rene Flowers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Jennifer Galley

    DIRECTOR (TERM START 9/5/23)

    Total calculated
    $0
    Hours/week
    0.25

  • Bill Goede

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Michael Harpole

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Kevin Hendrick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Laura Hine

    DIRECTOR (TERM START 11/7/23)

    Total calculated
    $0
    Hours/week
    0.25

  • Mitchell Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Robert McIntyre

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve McMullen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Myers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Nelson

    DIRECTOR (TERM START 9/5/23)

    Total calculated
    $0
    Hours/week
    0.25

  • Irwin Novack

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • William Pingleton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Amy Rettig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Wg Spoor

    DIRECTOR (TERM START 1/25/24)

    Total calculated
    $0
    Hours/week
    0.25

  • Ellen Stavros

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Jeffrey Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Danielle Weitlauf

    DIRECTOR (TERM START 5/20/24)

    Total calculated
    $0
    Hours/week
    0.25

  • Ben Wieder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Lisa Cane

    DIRECTOR (TERM END 11/7/23)

    Total calculated
    $0
    Hours/week
    0.25

  • William Carlson

    DIRECTOR (TERM END 5/20/24)

    Total calculated
    $0
    Hours/week
    0.25

  • Sebastian Dortch

    DIRECTOR (TERM END 12/31/23)

    Total calculated
    $0
    Hours/week
    1

  • Gary Regoli

    DIRECTOR (TERM END 7/1/23)

    Total calculated
    $0
    Hours/week
    0.25

  • Craig Sher

    DIRECTOR (TERM END 5/20/24)

    Total calculated
    $0
    Hours/week
    1

  • Kim Jowell

    CEO (AS OF 9/25/23)

    Total calculated
    $60,836
    From this org
    $59,992
    From related orgs
    $0
    Other
    $844
    Hours/week
    40

  • Terry Boehm

    INTERIM CEO (THRU 9/8/23)

    Total calculated
    $70,875
    From this org
    $70,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Anita Samaroo

    CONTROLLER (THRU 11/3/23)

    Total calculated
    $107,231
    From this org
    $95,528
    From related orgs
    $0
    Other
    $11,703
    Hours/week
    40

  • Jane Soltys

    CFO (11/27/23-1/8/24)

    Total calculated
    $8,846
    From this org
    $8,846
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Tammy Morrow Himes

    CONTROLLER (AS OF 4/1/24)

    Total calculated
    $0
    Hours/week
    40

  • Lisa Fasting

    VP OF PROGRAMS

    Total calculated
    $119,585
    From this org
    $107,831
    From related orgs
    $0
    Other
    $11,754
    Hours/week
    40

  • Stacy Baier

    FORMER CEO (THRU 5/26/23)

    Total calculated
    $152,422
    From this org
    $136,990
    From related orgs
    $0
    Other
    $15,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,340
    Bonus
    $27,650
    Other
    $0
    Deferred
    $4,224
    Nontaxable benefits
    $11,208
    Filer's total
    $152,422

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 · Form 990 of other organizations
  • 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

    $288,343

    CLASSROOM & SCHOOL GRANTS (SEE PROGRAM SERVICE DESCRIPTIONS)

  • CONNECT-IT 360 INC

    $15,000

    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

Provenance

Return type
form_990
Tax year
2023
Filed
30 January 2025
IRS schema version
2023v6.0
Source object
202500349349300925

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