Kea Educational Foundation INC FY2020 filing

Kodiak, AKUnknown exempt organizationEIN 27-0897796Revenue $190K in FY2020

On file with the IRSkodiakelectric.com/ed-foundationPo Box 787 · Kodiak, AK

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Charitable, educational, and scientific purposes

83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
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
4 of 5
filings with a surplus
Average surplus $36K a year · 38% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names 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
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$190K
Spent
$59K
To programs
83%
Net assets
$833K
By yearFY2020–FY2024
Revenue
$190K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$190K
FY2021$63K
FY2022$38K
FY2023$64K
FY2024$128K
Expenses
$59K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$59K
FY2021$58K
FY2022$76K
FY2023$52K
FY2024$56K
Net assets
$833K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$833K
FY2021$893K
FY2022$775K
FY2023$830K
FY2024$0

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $49K Management & general 17% · $10K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
See Kea Educational 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides charitable, educational, and scientific support.

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Provided by the organization

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1 program · $49K · in their own filed words · FY2020
01

The KEA Educational Foundation generated $189,685 in funds in 2020. This revenue was derived from three sources: 1) Contributions from Kodiak Electric Association members that elected to round up their monthly bill as a donation or elected to donate their capital credits to the KEA Educational Foundation. These donations totaled $19,670.

$49Kprogram 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
Total grants receivedfrom 1 funder$10K
Grants paid · 5 grants · $252K · 2020–2024
Unitemized GrantFY2024$46,667
Unitemized GrantFY2023$42,500
Unitemized GrantFY2022$65,582
Unitemized GrantFY2021$47,709
Unitemized GrantFY2020$49,458

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$190K
Ln 12
Investment incomeLn 3$150K
Gifts and grantsLn 1h$40K
Money outPt IX
$59K
Ln 25
Programscol B$49K
Managementcol C$10K
Owns and owesPt X
$833K
net assets · Ln 32
Cash and savingsLn 1–2$34K
Total assetsLn 16$833K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$40K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$150K
Gains on assetsLn 7$0
Total revenueLn 12$190K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$34K
Cash and savings togetherLn 1–2$34K
InvestmentsLn 11–13$799K
Total assetsLn 16$833K
LiabilitiesLn 26$0
Net assetsLn 32$833K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$17K$34K
InvestmentsLn 11–13$819K$799K
Total assetsLn 16$836K$833K
LiabilitiesLn 26$0$0
Net assetsLn 32$836K$833K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$49K$49K
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0$0$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$0$0$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$0$0$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$0$0$0$0
Accounting feesLn 11c$0$0$0$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$10K$0$10K$0
Other fees for servicesLn 11g$0$0$0$0
Advertising and promotionLn 12$0$0$0$0
Office expensesLn 13$0$0$0$0
Information technologyLn 14$0$0$0$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$0$0$0$0
TravelLn 17$0$0$0$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$0$0$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$0$0$0$0
InsuranceLn 23$0$0$0$0
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$59K$49K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $128K$56K$72K$0 990 PDF
FY2023 $64K$52K$12K$830K 990 PDF
FY2022 $38K$76K−$38K$775K 990 PDF
FY2021 $63K$58K$4K$893K 990 PDF
FY2020 Viewing $190K$59K$130K$833K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $189,686 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $57,202$39,697
I-9 Program service revenue$0
I-10 Investment incomePrior year $19,447$149,989
I-11 Other revenue$0
I-12 Total revenuePrior year $76,649$189,686
I-13 Grants and similar amounts paidPrior year $62,454$49,458
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $9,921$9,967
I-18 Total expensesPrior year $72,375$59,425
I-19 Revenue less expensesPrior year $4,274$130,261
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $189,686 across 14 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$39,697
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$39,697
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $149,989$149,989
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $149,989$189,686
Part IX · Statement of functional expenses $59,425 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $49,458$49,458
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$0
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $0 · Management $0 · Fundraising $0$0
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $9,967 · Fundraising $0$9,967
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-14 Information technologyPrograms $0 · Management $0 · Fundraising $0$0
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$0
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $0 · Management $0 · Fundraising $0$0
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$0
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$0
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $49,458 · Management $9,967 · Fundraising $0$59,425
Part X · Balance sheet $832,810 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $17,069$34,054
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $818,955$798,756
X-16 Total assetsStart of year $836,024$832,810
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $836,024$832,810
X-33 Total liabilities and net assetsStart of year $836,024$832,810
Part XI · Reconciliation of net assets $832,810 net assets at year end
XI-1 Total revenue$189,686
XI-2 Total expenses$59,425
XI-3 Revenue less expenses$130,261
XI-4 Net assets at start of year$836,024
XI-5 Net unrealized gains (losses) on investments−$133,475
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$832,810

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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