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Nonprofiteer
← ALBANY ISD EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by ALBANY ISD EDUCATION FOUNDATION INC.

Totals

Total revenue
$499,974
Total expenses
$396,827
Contributions and grants received
$2,500
Grants paid
$389,738
Program service revenue
$0
Investment income
$497,474
Other revenue
$0
Total assets, end of year
$4,384,953
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$4,384,953
Program services expenses (Part IX)
$389,738
Management and general expenses
$7,089
Fundraising expenses
$0
Program service expenses (Part III)
$389,738

Program services were 98.2% 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.

  • 1f · All other contributions, gifts and grants

    $2,500

  • 3 · Investment income

    total $497,474 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $341,738 · program services $341,738

  • 2 · Grants to domestic individuals

    total $48,000 · program services $48,000

  • 11b · Fees: legal

    total $3,062 · program services $0 · management and general $3,062 · fundraising $0

  • 11c · Fees: accounting

    total $2,000 · program services $0 · management and general $2,000 · fundraising $0

  • 24a · Other expenses: SUPPLIES

    total $2,027 · program services $0 · management and general $2,027 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $112,508 · end of year $42,801

  • 11 · Investments: publicly traded securities

    beginning of year $4,194,678 · end of year $4,342,152

  • 17 · Accounts payable and accrued expenses

    beginning of year $760 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,306,426 · end of year $4,384,953

Mission and programs · 2023

Mission

The organization acts as a supporting organization to Albany Independent School District (a public school district in Texas). Receipts of charitable donations are used for providing grants and aids for the

  • Scholarship grants are paid on-behalf of Albany Independent School District to Albany ISD seniors attending college in the amount of $500 per semesters for 8 semesters. Recipients may also receive additional amounts based on number of applicants each year.

    Expenses $48,000 · Grants $48,000

  • Grants paid to or on-behalf of Albany Independent School District for operating subsidy. This cost saved the school district from directly having to use other school district funds; those saved funds were used by the district for further educational needs of the district.

    Expenses $341,738 · Grants $341,738

As filed on the 2023 return.

Listed in Part VII

  • Robert Montgomery

    President

    Total calculated
    $0
    Hours/week
    1

  • Kalico Leech

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Ginny Ivy

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Kim Neece Fuentes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joe Tidwell

    Director

    Total calculated
    $0
    Hours/week
    1

  • Matt Bellah

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Reggy Spencer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
19 February 2025
IRS schema version
2023v6.0
Source object
202530519349301613

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