Foundation for Continuing Education INC: FY2021 Nonprofit Profile & Form 990 (EIN 04-2629472)

Revenue by fiscal year
FY2021	$242K
FY2022	−$19K
FY2023	$58K
FY2024	$63K

Expenses by fiscal year
FY2021	$23K
FY2022	$28K
FY2023	$46K
FY2024	$76K

Net assets by fiscal year
FY2021	$789K
FY2022	$742K
FY2023	$754K
FY2024	$741K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

85%

15%

Program services 85% · $19K Management & general 15% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to fix it

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Richard Solano CPA

Pres. Treas & Director

$0Pt VII · Sec A

Earle Solano ESQ.

Sec/Clerk & Director

$0Pt VII · Sec A

See Foundation for Continuing Education INC executive salaries →

On this list? Claim this org

Something off? Claim to fix it

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo
Loans to or from officersSch L · Pt II1 listed

Programs and updates

Educates business and legal professionals through seminars, workshops, and training on important tax and legal matters.

Questions for Foundation for Continuing Education INC

Tap to ask. Foundation for Continuing Education INC sees how many people are interested.

Your first name shows with your question. Foundation for Continuing Education INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $23K · in their own filed words · FY2020

01

Conducts seminars, workshops, meetings, training events,team building activities & provides the program materials to the Professional Tax, Legal, Accounting and Business communityincluding the Massachusetts Law Libraries.

$23Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$242K

Ln 12

Gifts and grantsLn 1h$220K

Investment incomeLn 3$11K

Fees for servicesLn 2g$11K

Money outPt IX

$23K

Ln 25

Programscol B$19K

Managementcol C$3K

Owns and owesPt X

$789K

net assets · Ln 32

Cash and savingsLn 1–2$251K

Total assetsLn 16$1.0M

LiabilitiesLn 26$259K

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$220K

Fees for servicesLn 2g$11K

Investment incomeLn 3$11K

Gains on assetsLn 7$11K

Total revenueLn 12$242K

Assets in detailPt X, end of year

CashLn 1$32K

SavingsLn 2$219K

Cash and savings togetherLn 1–2$251K

InvestmentsLn 11–13$199K

Land, buildings, equipmentLn 10c$593K

Other assetsLn 15$6K

Total assetsLn 16$1.0M

LiabilitiesLn 26$259K

Net assetsLn 32$789K

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderOctober

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$44K	$251K
InvestmentsLn 11–13	$188K	$199K
Land, buildings, equipmentLn 10c	$591K	$593K
Total assetsLn 16	$829K	$1.0M
LiabilitiesLn 26	$259K	$259K
Net assetsLn 32	$569K	$789K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Office expensesLn 13	$296	$252	$44
OccupancyLn 16	$11K	$10K	$2K
Depreciation, depletion and amortizationLn 22	$5K	$4K	$745
Other expenses (24a–d)Ln 24	$6K	$5K	$938
Total functional expensesLn 25	$23K	$19K	$3K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$63K	$76K	−$13K	$741K	990 PDF
FY2023	$58K	$46K	$12K	$754K	990 PDF
FY2022	−$19K	$28K	−$47K	$742K	990 PDF
FY2021 Viewing	$242K	$23K	$219K	$789K	990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (6 parts)

Part I · Summary $242,195 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $30,000$220,220

I-9 Program service revenuePrior year $15,409$10,926

I-10 Investment incomePrior year $39,280$11,049

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $84,689$242,195

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $35,037$22,728

I-18 Total expensesPrior year $35,037$22,728

I-19 Revenue less expensesPrior year $49,652$219,467

Part VI · Governance 0 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members0

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $242,195 across 5 lines filed

VIII-1f All other contributions, gifts and grants$220,220

VIII-1h Total contributions, gifts and grants$220,220

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,926$10,926

VIII-7 Net gain or loss on sales of assetsRelated to mission $11,049$11,049

VIII-12 Total revenueRelated to mission $21,975 · Unrelated business $0 · Excluded from tax $0$242,195

Part IX · Statement of functional expenses $22,728 across 4 lines filed

IX-13 Office expensesPrograms $252 · Management $44$296

IX-16 OccupancyPrograms $9,528 · Management $1,681$11,209

IX-22 Depreciation, depletion and amortizationPrograms $4,226 · Management $745$4,971

IX-24 Other expenses (24a–d)Programs $5,314 · Management $938$6,252

IX-25 Total functional expensesPrograms $19,320 · Management $3,408 · Fundraising $0$22,728

Part X · Balance sheet $1,048,024 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $43,990$31,661

X-2 Savings and temporary cash investments$219,220

X-10c Land, buildings and equipment, netStart of year $590,673$592,646

X-11 Publicly traded securitiesStart of year $188,305$198,922

X-15 Other assetsStart of year $5,575$5,575

X-16 Total assetsStart of year $828,543$1,048,024

X-26 Total liabilitiesStart of year $259,161$259,161

X-32 Total net assets or fund balancesStart of year $569,382$788,863

X-33 Total liabilities and net assetsStart of year $828,543$1,048,024

Part XI · Reconciliation of net assets $788,863 net assets at year end

XI-1 Total revenue$242,195

XI-2 Total expenses$22,728

XI-3 Revenue less expenses$219,467

XI-4 Net assets at start of year$569,382

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$788,863

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

Foundation for Continuing Education INC FY2021 filing

Before you give