Millburn Education Foundation INC: FY2021 Nonprofit Profile & Form 990 (EIN 22-3242516)

Revenue by fiscal year
FY2020	$230K
FY2021	$239K
FY2022	$179K
FY2023	$273K
FY2024	$180K
FY2025	$234K

Expenses by fiscal year
FY2020	$113K
FY2021	$342K
FY2022	$172K
FY2023	$493K
FY2024	$220K
FY2025	$179K

Net assets by fiscal year
FY2020	$572K
FY2021	$463K
FY2022	$440K
FY2023	$210K
FY2024	$170K
FY2025	$225K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1993.

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

Where the money goes

89 cents of each dollar spent went to programs.

89%

Program services 89% · $304K Management & general 8% · $27K Fundraising 3% · $11K

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

21 people listed on the 990.

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

Abigail Speltz

Co-Chair

$0Pt VII · Sec A

Sharyn Stein-Berezin

Co-Chair

$0Pt VII · Sec A

Christine Cofer

Secretary

$0Pt VII · Sec A

Heather Jenquine

Treasurer

$0Pt VII · Sec A

Sylvia Akwaboah

Trustee

$0Pt VII · Sec A

Roger Chinchilla

Trustee

$0Pt VII · Sec A

Katie Foster

Trustee

$0Pt VII · Sec A

Jordana Horn-Gordon

Trustee

$0Pt VII · Sec A

See Millburn Education Foundation INC 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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports and improves educational excellence in Millburn public schools.

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Provided by the organization

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1 program · $304K · in their own filed words · FY2020

01

Awarded grants to the millburn board of education and teachers in the millburn township school district to fund specific projects which enhance student's learning EXPERIENCE.FOR the year ended july 31, 2021, $140,525 was awarded to teachers in the district for distance learning enhancement in response to the COVID-19 pandemic.

$304Kprogram 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 · FY2024

Millburn Institute of TalentFY2024$3K

Chubb Charitable FoundationFY2024$500

Citizens Charitable FoundationFY2024$52

Total grants receivedfrom 3 funders$3K

See all 3 funders →

Grants paid · 6 grants · $1.2M · 2019–2024

Millburn Township Board of EducationFY2024$153,408

Millburn Township Board of EducationFY2023$160,104

Millburn Township Board of EducationFY2022$419,798

Millburn Township Board of EducationFY2021$142,596

Millburn Township Board of EducationFY2020$303,675

Millburn Township Board of EducationFY2019$63,694

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$239K

Ln 12

Gifts and grantsLn 1h$181K

Other incomeLn 4–11$52K

Investment incomeLn 3$5K

Money outPt IX

$342K

Ln 25

Programscol B$304K

Managementcol C$27K

Fundraisingcol D$11K

Owns and owesPt X

$463K

net assets · Ln 32

Cash and savingsLn 1–2$290K

Total assetsLn 16$543K

LiabilitiesLn 26$79K

PeoplePt VI, VII

21

listed · VII A

PaidVII A0

Voting boardVI 1a21

IndependentVI 1b21

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$181K

Fundraising eventsLn 1c$14K

Investment incomeLn 3$5K

Other incomeLn 4–11$52K

Gains on assetsLn 7$583

Total revenueLn 12$239K

Assets in detailPt X, end of year

SavingsLn 2$290K

Cash and savings togetherLn 1–2$290K

InvestmentsLn 11–13$249K

Total assetsLn 16$543K

LiabilitiesLn 26$79K

Net assetsLn 32$463K

OperationsPt I, VI

EmployeesI 50

VolunteersI 675

Fiscal year endsHeaderJuly

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

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	$399K	$290K
InvestmentsLn 11–13	$172K	$249K
Total assetsLn 16	$579K	$543K
LiabilitiesLn 26	$7K	$79K
Net assetsLn 32	$572K	$463K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$304K	$304K
Management feesLn 11a	$100			$100
Accounting feesLn 11c	$11K		$11K
Investment management feesLn 11f	$1K		$1K
Other fees for servicesLn 11g	$8K		$5K	$3K
Advertising and promotionLn 12	$626			$626
Office expensesLn 13	$398		$398
Information technologyLn 14	$7K		$3K	$4K
InsuranceLn 23	$1K		$1K
Other expenses (24a–d)Ln 24	$8K	$0	$5K	$3K
Total functional expensesLn 25	$342K	$304K	$27K	$11K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$234K	$179K	$55K	$225K	990 PDF
FY2024	$180K	$220K	−$40K	$170K	990 PDF
FY2023	$273K	$493K	−$219K	$210K	990 PDF
FY2022	$179K	$172K	$7K	$440K	990 PDF
FY2021 Viewing	$239K	$342K	−$103K	$463K	990 PDF
FY2020	$230K	$113K	$117K	$572K	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 FY2021 990 (6 parts)

Part I · Summary $238,678 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $182,466$181,132

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $9,287$5,356

I-11 Other revenuePrior year $38,030$52,190

I-12 Total revenuePrior year $229,783$238,678

I-13 Grants and similar amounts paidPrior year $63,694$303,675

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 $49,208$38,071

I-18 Total expensesPrior year $112,902$341,746

I-19 Revenue less expensesPrior year $116,881−$103,068

Part VI · Governance 21 of 21 board members independent, 2 to look at

VI-1a Voting members of the governing body21

VI-1b Independent voting members21

VI-2 Family or business relationship among officers or directorsYes

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

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $238,678 across 7 lines filed

VIII-1c Fundraising events$13,715

VIII-1f All other contributions, gifts and grants$167,417

VIII-1h Total contributions, gifts and grants$181,132

VIII-3 Investment incomeExcluded from tax $4,773$4,773

VIII-7 Net gain or loss on sales of assetsRelated to mission $583$583

VIII-8 Net income from fundraising eventsExcluded from tax $52,190$52,190

VIII-12 Total revenueRelated to mission $583 · Unrelated business $0 · Excluded from tax $56,963$238,678

Part IX · Statement of functional expenses $341,746 across 10 lines filed

IX-1 Grants to domestic organizationsPrograms $303,675$303,675

IX-11a Management feesFundraising $100$100

IX-11c Accounting feesManagement $11,000$11,000

IX-11f Investment management feesManagement $1,335$1,335

IX-11g Other fees for servicesManagement $5,088 · Fundraising $2,987$8,075

IX-12 Advertising and promotionFundraising $626$626

IX-13 Office expensesManagement $398$398

IX-14 Information technologyManagement $3,013 · Fundraising $4,227$7,240

IX-23 InsuranceManagement $1,371$1,371

IX-24 Other expenses (24a–d)Programs $0 · Management $4,520 · Fundraising $3,406$7,926

IX-25 Total functional expensesPrograms $303,675 · Management $26,725 · Fundraising $11,346$341,746

Part X · Balance sheet $542,938 assets, 11 lines filed

X-2 Savings and temporary cash investmentsStart of year $399,073$290,462

X-4 Accounts receivableStart of year $3,666$0

X-9 Prepaid expenses and deferred chargesStart of year $3,541$3,575

X-11 Publicly traded securitiesStart of year $172,231$248,901

X-16 Total assetsStart of year $578,511$542,938

X-17 Accounts payable and accrued expensesStart of year $925$8,470

X-18 Grants payableStart of year $5,919$71,000

X-26 Total liabilitiesStart of year $6,844$79,470

X-27 Net assets without donor restrictionsStart of year $571,667$463,468

X-32 Total net assets or fund balancesStart of year $571,667$463,468

X-33 Total liabilities and net assetsStart of year $578,511$542,938

Part XI · Reconciliation of net assets $463,468 net assets at year end

XI-1 Total revenue$238,678

XI-2 Total expenses$341,746

XI-3 Revenue less expenses−$103,068

XI-4 Net assets at start of year$571,667

XI-5 Net unrealized gains (losses) on investments−$5,131

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$463,468

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

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Millburn Education Foundation INC FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Millburn Education Foundation INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV