Polk County Education Foundation EIN 20-0748971 Form 990 (PDF) Claim this org

Polk County Education Foundation

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Helps deserving high school graduates fund their college education. For fiscal year 2024 it reported $54K in revenue, $20K in expenses, and $482K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Chattanooga, TN
Filings
4 on file (2021–2024)
Revenue
$54KFY2024
Expenses
$20K
Net assets
$482K
People
26
Filings
4
Updates
0
More identity details & actions ⌄
EIN  20-0748971 Public charity (501(c)(3)) Chattanooga, TN
Form 990 (PDF)
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Size
<$100K
What they do
Helps deserving high school graduates fund their college education.
Leadership
Ray Beckler · Vice Preside
Money in and out
$54K revenue, $20K expenses
Bottom line
65% program efficiency
Where the money goes · FY2024
Total revenue
$54K
Pt VIII · Ln 12
Total expenses
$20K
Pt IX · Ln 25
Net assets
$482K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $34K
Where spending went · Part IX cols B–D
Program services $0.65 Management & general $0.35
Program efficiency
65%
of spending reaches programs▲ +30% vs prior filing year
Operating runway
287.2mo
months of highly liquid reserves at operating expense rate▼ -57% vs prior filing year
Surplus margin
+63%
revenue over expenses, this year▼ -21% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$54K
FY2024▲ +41%
Expenses
$20K
FY2024▲ +150%
Total assets
$482K
FY2024▲ +8%
Total liabilities
$0
FY2024
Total revenue
$54K
Pt VIII · Ln 12
Total expenses
$20K
Pt IX · Ln 25
Net assets
$482K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$34K
Total assetsPt X · Ln 16$482K
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 326
Independent voting membersPt I · Ln 426

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPolk County Education Foundation
EINHdr · item D20-0748971
Principal addressHdr · item CChattanooga, TN
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFJan 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a26
Independent voting membersPt VI · Ln 1b26
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Vice Preside
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Officer at L
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Officer at L
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $13K of program spending, described in the organization's own filed words · FY2024.
01

Educational awards for scholarship

$13Kprogram expense

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Statement of Revenue

Part VIII
Investment income$28K · 51%
Contributions & grants$26K · 49%
Investment income51%$28K
Contributions & grants49%$26K
Total revenueLn 12$54K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65 Management & general $0.35
Program services65%$13K
Management & general35%$7K
Total functional expensesLn 25$20K

Balance Sheet

Part X · end of year
CashLn 1$482K
Total assetsLn 16$482K
Total liabilitiesLn 26$0
Total net assetsLn 32$482K
Months of cash on handcomputed287.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $482K · Operating expenses/yr $20K
287.2 months
Where the money goes
Program services
Program services $13K · Total expenses $20K
65%
Management & General
Management & general $7K · Total expenses $20K
35%
Fundraising
Fundraising $0 · Total expenses $20K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $22K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $26K · Total revenue $54K
49%
Government reliance
Government grants — · Total revenue $54K
Earned-income share
Program service revenue $0 · Total revenue $54K
0%
Investment reliance
Investment income $28K · Total revenue $54K
+51%
Program self-sufficiency
Program service revenue $0 · Total expenses $20K
0%
Growth & trend
Revenue growth (YoY)
This year $54K · Prior year $39K
+41%
Net-asset trend (YoY)
End of year $482K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $54K · Expenses $20K
+63%
Liabilities-to-Assets
Total liabilities — · Total assets $482K
Net-asset ratio
Net assets $482K · Total assets $482K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $482K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ray Beckler · Reported title VICE PRESIDE · Highest reported compensation $0 · Total expenses $20K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $20K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 65%
Overhead ratio 35%
Fundraising cost ratio 0%
Revenue growth 41%
Accounting fee ratio 9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 2 funders$10K
Grants paid · 1 grant · $13K · 2024–2024
Unitemized GrantFY2024$13,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$54K revenue · viewing · ⤓ 990 PDF
FY2023$39K revenue · ⤓ 990 PDF
FY2022$15K revenue · ⤓ 990 PDF
FY2021$63K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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