Form 990 for tax year 2023

Totals

Total revenue

$3,500,565

Total expenses

$1,296,905

Contributions and grants received

$3,498,402

Grants paid

$21,400

Program service revenue

$0

Investment income

$2,163

Other revenue

$0

Total assets, end of year

$3,952,927

Total liabilities, end of year

$106,374

Net assets or fund balances, end of year

$3,846,553

Program services expenses (Part IX)

$1,038,865

Management and general expenses

$115,514

Fundraising expenses

$142,526

Program service expenses (Part III)

$1,038,865

Program services were 80.1% 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.

Mission and programs · 2023

• LITERACY: THE RICHMOND ED FOUNDATION INVESTED SIGNIFICANTLY IN THE UNIVERSITY OF FLORIDA LITERACY INSTITUTE (UFLI) CURRICULUM AND ADOPTED THE SCIENCE OF READING APPROACH TO IMPROVE EARLY LITERACY OUTCOMES ACROSS RICHMOND PUBLIC SCHOOLS (RPS). ALL K-2 TEACHERS ENGAGED IN ONGOING PROFESSIONAL DEVELOPMENT LED BY LITERACY COACHES, EQUIPPING THEM WITH EVIDENCE-BASED STRATEGIES TO SUPPORT YOUNG LEARNERS. THESE EFFORTS LED TO A 7-POINT INCREASE IN EARLY LITERACY RATES DISTRICT-WIDE, ENSURING MORE STUDENTS ARE ON TRACK TO READ PROFICIENTLY BY THIRD GRADE - A CRITICAL MILESTONE FOR FUTURE ACADEMIC SUCCESS.PRINCIPAL COACHING: THE RICHMOND ED FOUNDATION LAUNCHED THE RPS LEADERSHIP ACADEMY, A GROUNDBREAKING PRINCIPAL RESIDENCY PROGRAM THAT SUPPORTS ASSISTANT AND NOVICE PRINCIPALS IN BECOMING EXCEPTIONAL SCHOOL LEADERS. THE PROGRAM COMBINES MENTORSHIP, HANDS-ON LEADERSHIP EXPERIENCES, AND TARGETED PROFESSIONAL DEVELOPMENT TO EQUIP PARTICIPANTS WITH THE TOOLS AND KNOWLEDGE TO LEAD EFFECTIVELY. THIS INITIATIVE ADDRESSES A CRITICAL NEED FOR STRONG SCHOOL LEADERSHIP, ENSURING EVERY RPS STUDENT BENEFITS FROM A THRIVING AND WELL-MANAGED LEARNING ENVIRONMENT.EXTENDED SCHOOL YEAR: THE RICHMOND ED FOUNDATION EXPANDED LEARNING OPPORTUNITIES BY IMPLEMENTING THE RPS200 EXTENDED SCHOOL YEAR INITIATIVE AT FOUR ELEMENTARY SCHOOLS. THIS PILOT PROGRAM ADDED 20 ADDITIONAL SCHOOL DAYS TO THE ACADEMIC CALENDAR, PROVIDING MORE TIME FOR TARGETED INSTRUCTION AND ENRICHMENT ACTIVITIES. DESIGNED TO ADDRESS LEARNING LOSS AND SUPPORT DEEPER ENGAGEMENT, RPS200 HAS ALREADY SHOWN PROMISING EARLY OUTCOMES, PARTICULARLY FOR STUDENTS IN HISTORICALLY UNDERSERVED COMMUNITIES.

  Expenses $998,257

• THE FOUNDATION ALSO RAISES MONEY AND DISTRIBUTES SCHOLARSHIPS TO GRADUATING RPS SENIORS WITH OUTSTANDING ACADEMIC, EXTRACURRICULAR, AND COMMUNITY ACHIEVEMENTS. THE GOAL OF THE FOUNDATION'S SCHOLARSHIPS IS TO HELP BRIDGE FUNDING GAPS FOR STUDENTS WHO ARE NOT OTHERWISE RECEIVING SIGNIFICANT FINANCIAL ASSISTANCE.

  Expenses $40,608 · Grants $21,400

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

Listed in Part VII

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

3 February 2025

IRS schema version

2023v6.0

Source object

202530359349300318

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