Langston Foundation INC EIN 26-0352176 Form 990 (PDF) Claim this org

Langston Foundation INC

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Funds campus improvements and property upgrades for a charter middle school. For fiscal year 2024 it reported $507K in revenue, $234K in expenses, and $2.2M in net assets.Pt I

Founded
2007
Type
Public charity (501(c)(3)) · Education
Location
Greenville, SC
Filings
4 on file (2021–2024)
Revenue
$507KFY2024
Expenses
$234K
Net assets
$2.2M
People
7
Filings
4
Updates
0
More identity details & actions ⌄
EIN  26-0352176 Public charity (501(c)(3)) Greenville, SC Founded 2007
Form 990 (PDF)
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Size
$100K–1M
What they do
Funds campus improvements and property upgrades for a charter middle school.
Leadership
Alison Thompson · Executive Di
Money in and out
$507K revenue, $234K expenses
Bottom line
94% program efficiency
Where the money goes · FY2024
Total revenue
$507K
Pt VIII · Ln 12
Total expenses
$234K
Pt IX · Ln 25
Net assets
$2.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $273K
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06 Fundraising $0.01
Program efficiency
94%
of spending reaches programs▲ +0.9% vs prior filing year
Operating runway
34.0mo
months of highly liquid reserves at operating expense rate▲ +31% vs prior filing year
Surplus margin
+54%
revenue over expenses, this year▲ +11% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$507K
FY2024▼ -11%
Expenses
$234K
FY2024▼ -21%
Total assets
$4.2M
FY2024▼ -23%
Total liabilities
$2.0M
FY2024▼ -12%
Total revenue
$507K
Pt VIII · Ln 12
Total expenses
$234K
Pt IX · Ln 25
Net assets
$2.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$273K
Total assetsPt X · Ln 16$4.2M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $219K of program spending, described in the organization's own filed words · FY2024.
01

The foundation advanced its exempt purpose of supporting langston middle school through three principal activities: funding capital improvements to school facilities and classroom technology infrastructure; underwriting professional development for teachers and administrative staff to elevate instructional quality; and providing partial…

$219Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLangston Foundation INC
EINHdr · item D26-0352176
Principal addressHdr · item CGreenville, SC
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2007
State of legal domicileHdr · item MSC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B21)
Ruling yearIRS BMFJun 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
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
Executive Di
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$325K · 64%
Other revenue$85K · 17%
Contributions & grants$64K · 13%
Investment income$33K · 6%
Program service revenue64%$325K
Other revenue17%$85K
Contributions & grants13%$64K
Investment income6%$33K
Total revenueLn 12$507K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06 Fundraising $0.01
Program services94%$219K
Management & general6%$13K
Fundraising1%$2K
Total functional expensesLn 25$234K

Balance Sheet

Part X · end of year
CashLn 1$664K
Total assetsLn 16$4.2M
Total liabilitiesLn 26$2.0M
Total net assetsLn 32$2.2M
Months of cash on handcomputed34.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $664K · Operating expenses/yr $234K
34.0 months
Where the money goes
Program services
Program services $219K · Total expenses $234K
94%
Management & General
Management & general $13K · Total expenses $234K
6%
Fundraising
Fundraising $2K · Total expenses $234K
0.7%
Cost to raise $1
Fundraising expense (3-yr avg) $11K · Solicited contributions (3-yr avg) $172K
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $64K · Total revenue $507K
13%
Government reliance
Government grants — · Total revenue $507K
Earned-income share
Program service revenue $325K · Total revenue $507K
64%
Investment reliance
Investment income $33K · Total revenue $507K
+6%
Program self-sufficiency
Program service revenue $325K · Total expenses $234K
139%
Growth & trend
Revenue growth (YoY)
This year $507K · Prior year $573K
-11%
Revenue CAGR
FY2020 $583K · FY2024 $507K
-3%
Net-asset trend (YoY)
End of year $2.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $507K · Expenses $234K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $4.2M
Net-asset ratio
Net assets $2.2M · Total assets $4.2M
52%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $4.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Alison Thompson · Reported title EXECUTIVE DI · Highest reported compensation $0 · Total expenses $234K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $234K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Fundraising cost ratio 3%
Revenue growth -11%

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 · FY2024
GE FoundationFY2024$2K
Total grants receivedfrom 1 funder$2K
Grants paid · 5 grants · $194K · 2020–2024

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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$573K revenue · ⤓ 990 PDF
FY2023$586K revenue · ⤓ 990 PDF
FY2022$621K revenue · ⤓ 990 PDF
FY2021$583K 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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