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Polk County Education Foundation

Tax-deductible

Chattanooga, TN501(c)(3)Education EIN 20-0748971Revenue $54K in FY2024

On file with the IRS182 N Crest Rd, 37404-1733 · Chattanooga, TNTax-exempt since Jan 2005Publicly supported charity — 170(b)(1)(A)(vi)

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To provide worthy Polk County high school graduates of high character and integrity with financial assistance for post secondary school Education.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $32K a year · 70% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
287 mo
of spending, in cash
Looks good: 287.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 26 voting members
Looks good: 26 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54K
+41% vs prior year
Spent
$20K
To programs
65%
Net assets
$482K
By yearFY2021–FY2024
Revenue
$54K
FY2024▲ +41%
Tap a bar for its year
Revenue by fiscal year
FY2021$63K
FY2022$15K
FY2023$39K
FY2024$54K
Expenses
$20K
FY2024▲ +150%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$8K
FY2024$20K
Net assets
$482K
FY2024▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2021$436K
FY2022$418K
FY2023$448K
FY2024$482K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2005.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $13K Management & general 35% · $7K

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

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Who runs it and what they're paid

26 people listed on the 990.

Part VII, Section A · reportable compensation
Ray Beckler
Vice Preside
$0Pt VII · Sec A
Brandon Calhoun
Board Member
$0Pt VII · Sec A
Kenneth Cloud
Officer at L
$0Pt VII · Sec A
Larry Cross
Board Member
$0Pt VII · Sec A
Dr Roger Crouch
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Charles Edwards
Officer at L
$0Pt VII · Sec A
Carolyn Guerry
Board Member
$0Pt VII · Sec A
See Polk County Education Foundation executive salaries →

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Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps deserving high school graduates fund their college education.

Questions for Polk County Education Foundation

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Provided by the organization

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1 program · $13K · in their own filed words · FY2024
01

Educational awards for scholarship

$13Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Golotko Foundation INCFY2023$9K
The McReynolds Family FoundationFY2023$500
Total grants receivedfrom 2 funders$10K
Grants paid · 1 grant · $13K · 2024–2024
Unitemized GrantFY2024$13,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$54K
Ln 12
Investment incomeLn 3$28K
Gifts and grantsLn 1h$26K
Money outPt IX
$20K
Ln 25
Programscol B$13K
Managementcol C$7K
Owns and owesPt X
$482K
net assets · Ln 32
Cash and savingsLn 1–2$482K
Total assetsLn 16$482K
LiabilitiesLn 26$0
PeoplePt VI, VII
26
listed · VII A
PaidVII A0
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$26K
Investment incomeLn 3$28K
Gains on assetsLn 7$13K
Total revenueLn 12$54K
Assets in detailPt X, end of year
CashLn 1$482K
Cash and savings togetherLn 1–2$482K
Total assetsLn 16$482K
LiabilitiesLn 26$0
Net assetsLn 32$482K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$448K$482K
Total assetsLn 16$448K$482K
LiabilitiesLn 26$0$0
Net assetsLn 32$448K$482K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$13K$13K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$590$590
InsuranceLn 23$698$698
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$20K$13K$7K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $54K$20K$34K$482K 990 PDF
FY2023 $39K$8K$30K$448K 990 PDF
FY2022 $15K$418K 990 PDF
FY2021 $63K$436K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $54,219 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $18,280$26,369
I-9 Program service revenue$0
I-10 Investment incomePrior year $20,229$27,850
I-11 Other revenue$0
I-12 Total revenuePrior year $38,509$54,219
I-13 Grants and similar amounts paidPrior year $4,000$13,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,048$7,150
I-18 Total expensesPrior year $8,048$20,150
I-19 Revenue less expensesPrior year $30,461$34,069
Part VI · Governance 26 of 26 board members independent, 4 to look at
VI-1a Voting members of the governing body26
VI-1b Independent voting members26
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $54,219 across 5 lines filed
VIII-1f All other contributions, gifts and grants$26,369
VIII-1h Total contributions, gifts and grants$26,369
VIII-3 Investment incomeRelated to mission $14,383$14,383
VIII-7 Net gain or loss on sales of assetsRelated to mission $13,467$13,467
VIII-12 Total revenueRelated to mission $27,850$54,219
Part IX · Statement of functional expenses $20,150 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $13,000$13,000
IX-11c Accounting feesManagement $1,730$1,730
IX-13 Office expensesManagement $590$590
IX-23 InsuranceManagement $698$698
IX-24 Other expenses (24a–d)Management $4,132$4,132
IX-25 Total functional expensesPrograms $13,000 · Management $7,150 · Fundraising $0$20,150
Part X · Balance sheet $482,182 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $448,113$482,182
X-16 Total assetsStart of year $448,113$482,182
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $448,113$482,182
X-33 Total liabilities and net assetsStart of year $448,113$482,182
Part XI · Reconciliation of net assets $482,182 net assets at year end
XI-1 Total revenue$54,219
XI-2 Total expenses$20,150
XI-3 Revenue less expenses$34,069
XI-4 Net assets at start of year$448,113
XI-10 Net assets at end of year$482,182

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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