Rackspace Foundation EIN 26-3332818 Form 990 (PDF) Claim this org

Rackspace Foundation FY2021 filing

Not yet claimed Claim this org →

Funds music education programs for San Antonio youth, providing instruments, lessons, and scholarships to build world-class orchestra programs. For fiscal year 2021 it reported $480K in revenue, $483K in expenses, and $1.1M in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
San Antonio, TX
Website
www.rackspacefoundation.com
Filings
5 on file (2020–2021)
Revenue
$480KFY2021
Expenses
$483K
Net assets
$1.1M
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-3332818 Public foundation / grantmaker San Antonio, TX
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Rackspace Foundation claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Funds music education programs for San Antonio youth, providing instruments, lessons, and scholarships to build world-class orchestra programs.
Leadership
Lisa McLin · President
Money in and out
$480K revenue, $483K expenses
Bottom line
100% program efficiency
Grants paid & assets · FY2021
Total revenue
$480K
Pt VIII · Ln 12
Total expenses
$483K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$3K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs
Operating runway
26.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-0.6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$480K
FY2021▼ -10%
Expenses
$483K
FY2021▼ -7%
Total assets
$1.1M
FY2021-0.3%
Total liabilities
$0
FY2021
Total revenue
$480K
Pt VIII · Ln 12
Total expenses
$483K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$3K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $371K of program spending, described in the organization's own filed words · FY2021.
01

Communities in Schools (cis) of San Antonio, INC

Funds were granted to provide a case manager to walzem elementary, camelot elementary and windcrest elementary. The cis managers provided comprehensive case management services to K-5TH grade students. They referred for problems in academics, behavior, or attendance.

$245Kprogram expense
02

Ne Educational Foundation

Funds were granted through the north east independent school district for each of the magnificent 7 cluster schools to have an allocation of discretionary funds. These funds are restricted to benefiting students in either family engagement activities, participation in extracurricular activities, team support, staff engagement and…

$66Kprogram expense
03

Girlstart funding was granted for weekly afterschool stem programming and two elementary student summer camps for walzem elementary and the additional campus of montgomery elementary. Girlstart is an educational outreach program that encourages girls to believe in themselves, pursue paths to higher education and discover greater career…

$60Kprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRackspace Foundation
EINHdr · item D26-3332818
Principal addressHdr · item CSan Antonio, TX
WebsiteHdr · item Jwww.rackspacefoundation.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T21)
Ruling yearIRS BMFMar 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 14Yes
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
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Memeber
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Rackspace Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants100%$480K
Total revenueLn 12$480K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$483K
Total functional expensesLn 25$483K

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$1.1M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.1M
Months of cash on handcomputed26.8

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1M · Operating expenses/yr $483K
26.8 months
Where the money goes
Program services
Program services $483K · Total expenses $483K
100%
Management & General
Management & general $0 · Total expenses $483K
0%
Fundraising
Fundraising $0 · Total expenses $483K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $507K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $480K · Total revenue $480K
100%
Government reliance
Government grants — · Total revenue $480K
Earned-income share
Program service revenue $0 · Total revenue $480K
0%
Investment reliance
Investment income $0 · Total revenue $480K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $483K
0%
Growth & trend
Revenue growth (YoY)
This year $480K · Prior year $533K
-10%
Net-asset trend (YoY)
End of year $1.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $480K · Expenses $483K
-0.6%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
Net-asset ratio
Net assets $1.1M · Total assets $1.1M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.1M
0%
People & payroll
Highest Reported Total Compensation
Individual Lisa McLin · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $483K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $483K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth -10%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

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 1 funder$15K
Grants paid · 37 grants · $2.0M · 2020–2024
Ne Educational FoundationFY2024$61,500
Gemini Series INCTX · FY2024$35,000
Township of Union Public SchoolsFY2024$25,000
GirlstartTX · FY2024$25,000
Youth Code Jam San AntonioTX · FY2024$14,000
Ne Educational FoundationFY2023$64,500
GirlstartTX · FY2023$37,500
Gemini Series INCTX · FY2023$35,000
Youth Code Jam San AntonioTX · FY2023$28,000
Township of Union Public SchoolsFY2023$25,000
See all 37 grants →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

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)$149K revenue · ⤓ 990 PDF
FY2023$189K revenue · ⤓ 990 PDF
FY2022$235K revenue · ⤓ 990 PDF
FY2021$480K revenue · viewing · ⤓ 990 PDF
FY2020$533K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS 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.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.