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← FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION INC

Form 990 for tax year 2023

Filed by FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION INC.

What the amendment changed

Compared with the return it replaced , filed 31 August 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$7,899,396
Total expenses
$10,284,802
Contributions and grants received
$7,790,410
Grants paid
$9,697,402
Program service revenue
$0
Investment income
$108,986
Other revenue
$0
Total assets, end of year
$13,285,530
Total liabilities, end of year
$6,619,239
Net assets or fund balances, end of year
$6,666,291
Program services expenses (Part IX)
$10,019,640
Management and general expenses
$167,716
Fundraising expenses
$97,446
Program service expenses (Part III)
$10,019,640

Program services were 97.4% 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

    $7,790,410

  • 3 · Investment income

    total $108,986 · excluded $108,986

  • 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

  • 7d · Net gain or loss

    total $0

  • 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 $6,018,495 · program services $6,018,495

  • 2 · Grants to domestic individuals

    total $350,907 · program services $350,907

  • 3 · Grants to foreign organizations and individuals

    total $3,328,000 · program services $3,328,000

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $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 $380,793 · program services $217,996 · management and general $99,921 · fundraising $62,876

  • 11b · Fees: legal

    total $3,850 · management and general $3,850

  • 11c · Fees: accounting

    total $31,850 · management and general $30,650 · fundraising $1,200

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $2,377 · management and general $2,377

  • 11g · Fees: other

    total $16,000 · program services $16,000

  • 12 · Advertising and promotion

    total $3,456 · program services $2,461 · fundraising $995

  • 13 · Office expenses

    total $24,409 · program services $133 · management and general $7,336 · fundraising $16,940

  • 14 · Information technology

    total $22,767 · program services $240 · management and general $19,288 · fundraising $3,239

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $95,381 · program services $80,369 · management and general $2,816 · fundraising $12,196

  • 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 $1,478 · management and general $1,478

  • 24a · Other expenses: RESEARCH

    total $5,039 · program services $5,039

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $167,530 · end of year $78,410

  • 2 · Savings and temporary cash investments

    beginning of year $2,386,473 · end of year $3,104,748

  • 3 · Pledges and grants receivable

    beginning of year $11,872,846 · end of year $10,102,372

  • 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 $0 · 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 $4,429 · end of year $1,972

  • 18 · Grants payable

    beginning of year $5,843,992 · end of year $6,617,267

  • 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 -$3,740,769 · end of year -$4,093,748

  • 28 · Net assets with donor restrictions

    beginning of year $12,319,197 · end of year $10,760,039

Mission and programs · 2023

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 2022-23 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 $10,019,640 · Grants $9,697,402

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

Listed in Part VII

  • Francis Hager

    CHAIRMAN - FROM 02/2023

    Total calculated
    $0
    Hours/week
    1

  • Luis Tellez

    PRESIDENT

    Total calculated
    $0
    Hours/week
    30

  • Donald Readlinger

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • G David Bednar

    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

  • Boyd Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas Trkla

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Binckerhoff

    TREASURER - THRU 02/2023

    Total calculated
    $0
    Hours/week
    1

  • Thalia Considine

    TRUSTEE - THRU 11/2023

    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

  • Russell Snell

    PROGRAM COMMITTEE MEMBER

    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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
31 August 2024
IRS schema version
2023v5.1
Source object
202403479349301710

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.