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← HEALEY EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by HEALEY EDUCATION FOUNDATION INC.

Totals

Total revenue
$3,824,167
Total expenses
$3,903,785
Contributions and grants received
$3,820,663
Grants paid
$3,089,486
Program service revenue
$2,000
Investment income
$1,504
Other revenue
$0
Total assets, end of year
$2,645,023
Total liabilities, end of year
$2,166,999
Net assets or fund balances, end of year
$478,024
Program services expenses (Part IX)
$3,720,845
Management and general expenses
$121,960
Fundraising expenses
$60,980
Program service expenses (Part III)
$3,720,845

Program services were 95.3% 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.

  • 1e · Government grants (contributions)

    $133,000

  • 1f · All other contributions, gifts and grants

    $3,687,663

  • 2f · All other program service revenue

    total $2,000 · related or exempt $2,000

  • 3 · Investment income

    total $1,504 · related or exempt $1,504

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,089,486 · program services $3,089,486

  • 5 · Compensation of officers, directors and key employees

    total $320,348 · program services $224,243 · management and general $64,070 · fundraising $32,035

  • 7 · Other salaries and wages

    total $190,043 · program services $133,031 · management and general $38,008 · fundraising $19,004

  • 8 · Pension plan contributions

    total $22,702 · program services $15,892 · management and general $4,540 · fundraising $2,270

  • 9 · Other employee benefits

    total $35,027 · program services $24,518 · management and general $7,006 · fundraising $3,503

  • 10 · Payroll taxes

    total $41,682 · program services $29,178 · management and general $8,336 · fundraising $4,168

  • 11g · Fees: other

    total $50,755 · program services $50,755

  • 13 · Office expenses

    total $1,184 · program services $1,184

  • 14 · Information technology

    total $24,564 · program services $24,564

  • 16 · Occupancy

    total $33,786 · program services $33,786

  • 17 · Travel

    total $14,313 · program services $14,313

  • 19 · Conferences, conventions and meetings

    total $1,118 · program services $1,118

  • 22 · Depreciation, depletion and amortization

    total $3,543 · program services $3,543

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $56,843 · program services $56,843

  • 24b · Other expenses: TELEPHONE

    total $7,272 · program services $7,272

  • 24c · Other expenses: PRINTING AND COPYING

    total $3,866 · program services $3,866

  • 24d · Other expenses: SUPPLIES

    total $2,570 · program services $2,570

  • 24e · All other expenses

    total $4,683 · program services $4,683

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $396,270 · end of year $96,006

  • 3 · Pledges and grants receivable

    beginning of year $161,000 · end of year $2,241,998

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,776 · end of year $2,579

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

    $23,827

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

    $19,387

  • 10c · Land, buildings and equipment, net

    beginning of year $29,700 · end of year $4,440

  • 11 · Investments: publicly traded securities

    end of year $300,000

  • 15 · Other assets

    beginning of year $31,027

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,544 · end of year $5,314

  • 18 · Grants payable

    end of year $2,153,215

  • 25 · Other liabilities

    beginning of year $31,027 · end of year $8,470

  • 27 · Net assets without donor restrictions

    beginning of year $447,216 · end of year $478,024

  • 28 · Net assets with donor restrictions

    beginning of year $100,986 · end of year $0

Mission and programs · 2023

Mission

THE HEALEY EDUCATION FOUNDATION INVESTS IN PK-12 CATHOLIC SCHOOLS. WORKING IN PARTNERSHIP WITH SCHOOLS, ARCHDIOCESES AND DIOCESES, AND FELLOW PHILANTHROPISTS, THE FOUNDATION IS A CATALYST FOR CHANGE TO ENSURE THE FUTURE OF CATHOLIC EDUCATION.

  • THE HEALEY EDUCATION FOUNDATION'S INNOVATIVE BUSINESS MODEL RESULTS IN PK-12 CATHOLIC SCHOOLS THAT ARE MISSION DRIVEN, FINANCIALLY SOUND, AND ORGANIZATIONALLY SUSTAINABLE. TO SCALE THE IMPACT OF THE FOUNDATION'S 18 YEARS OF WORK AND SEED THE CONTINUED GROWTH OF THE PROGRAM INTO THE FUTURE,HEF PROVIDED A FIVE- YEAR GRANT TO BOSTON COLLEGE ROCHE CENTER FOR CATHOLIC EDUCATION (BCRCE).THE PURPOSE IS TO ESTABLISH THE FIRST NATIONAL PROGRAM AT BCRCE FOR CATHOLIC SCHOOL BOARD BUILDING AND TRAINING SECURING THE FUTURE OF THIS EDUCATION SYSTEM.

    Expenses $3,720,845 · Grants $3,089,486 · Revenue $2,000

  • THE HEALEY EDUCATION FOUNDATION, IN PARTNERSHIP WITH A GRANT FROM THE GHR FOUNDATION,PROVIDED DIRECT SERVICES TO ASCENSION CATHOLIC ACADEMY NETWORK HTTPS://ACAMN.ORG/SCHOOLS/. THIS NETWORK OF FOUR INNER CITY SCHOOLS SERVING CHILDREN IN ONE OF THE MOST VIOLENT AREAS OF MINNEAPOLIS AND ONE OF THE LOWEST PERFORMING SCHOOL DISTRICTS IN THE COUNTRY. THE SCHOOL LEADERSHIP SOUGHT STRATEGIES TO STRENGTHEN THEIR GOVERNANCE STRUCTURE,OPERATING MODEL AND LEADERSHIP SUCCESSION PLAN.

  • HEF SUPPORTS THE CATHOLIC PARTNERSHIP SCHOOLS (CPS) BY HELPING THE NEEDIEST CHILDREN RECEIVE A QUALITY EDUCATION IN CAMDEN, NJ, ONE OF THE MOST VIOLENT CITIES IN THE UNITED STATES. THE CPS SERVES 1,000 CHILDREN IN FIVE ELEMENTARY SCHOOLS THAT ARE AT RISK FOR CLOSING DUE TO TUITION AFFORDABILITY. HEF'S CONTRIBUTION SUPPORTS THE DEVELOPMENT OF THIS NEW MODEL FOR URBAN CATHOLIC EDUCATION CALLED THE CATHOLIC PARTNERSHIP SCHOOLS.

As filed on the 2023 return.

Listed in Part VII

  • Robert T Healey Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Harry Bell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Christine Healey

    PRESIDENT

    Total calculated
    $238,307
    From this org
    $218,698
    From related orgs
    $0
    Other
    $19,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,698
    Bonus
    $0
    Other
    $0
    Deferred
    $11,757
    Nontaxable benefits
    $7,852
    Filer's total
    $238,307

  • Jerry Kelly

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Megan M Famular

    ADMINISTRATION

    Total calculated
    $112,343
    From this org
    $101,650
    From related orgs
    $0
    Other
    $10,693
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $101,650
    Bonus
    $0
    Other
    $0
    Deferred
    $5,174
    Nontaxable benefits
    $5,519
    Filer's total
    $112,343

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 · Compensation survey or study

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349300510

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