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Rocky River Educational Foundation INC FY2021 filing

Tax-deductible

Rocky River, OH501(c)(3)EIN 34-1428131Revenue $316K in FY2021

On file with the IRSrredfoundation.org1101 Morewood Pkwy, 44116-1439 · Rocky River, OHTax-exempt since Jun 1984Publicly supported charity — 170(b)(1)(A)(vi)

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To enrich and provide added quality to the Educational experience in our community; to encourage further development of specialized talent, skills and academic achievements for the individual students, faculty or administrators; to continue the Educational traditions that have contributed to Rocky river's reputation as an outstanding suburban community.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $98K a year · 25% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.1 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
$160K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 27 voting members
Looks good: 27 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$316K
Spent
$342K
To programs
91%
Net assets
$1.9M
By yearFY2021–FY2025
Revenue
$316K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$316K
FY2022$465K
FY2023$323K
FY2024$354K
FY2025$526K
Expenses
$342K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$342K
FY2022$249K
FY2023$303K
FY2024$274K
FY2025$326K
Net assets
$1.9M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$1.9M
FY2022$1.7M
FY2023$1.8M
FY2024$2.1M
FY2025$2.3M

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1984.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $313K Management & general 9% · $29K

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

27 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Anne Banas
Board Member
$0Pt VII · Sec A
Tara Biscardi
Board Member
$0Pt VII · Sec A
James Broderick
Board Member
$0Pt VII · Sec A
Jen Davis
Board Member
$0Pt VII · Sec A
Paula Fitzgibbon
Board Member
$0Pt VII · Sec A
Breda Hill-King
Board Member
$0Pt VII · Sec A
Megan Maher
Board Member
$0Pt VII · Sec A
Mason Oatey
Board Member
$0Pt VII · Sec A
See Rocky River 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

Enriching education and developing student talent to uphold community academic traditions.

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Provided by the organization

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2 programs · $313K · in their own filed words · FY2020
01

College scholarships to rocky river high school graduating seniors under guidelines of various temporarily restricted funds.

$233Kprogram expense
02

Award grants to faculty and staff for new and creative educational programs.

$80Kprogram 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
Gavin Gill Scholarship FoundationFY2024$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 7 grants · $761K · 2020–2024
Unitemized GrantFY2024$182,050
Rocky River City SchoolsFY2024$65,375
Unitemized GrantFY2023$134,347
Rocky River City SchoolsFY2023$96,953
Unitemized GrantFY2021$122,950
Unitemized GrantFY2020$79,900
Rocky River City SchoolsFY2020$79,900

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$316K
Ln 12
Investment incomeLn 3$138K
Other incomeLn 4–11$94K
Gifts and grantsLn 1h$84K
Money outPt IX
$342K
Ln 25
Programscol B$313K
Managementcol C$29K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$116K
Total assetsLn 16$2.1M
LiabilitiesLn 26$160K
PeoplePt VI, VII
27
listed · VII A
PaidVII A0
Voting boardVI 1a27
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$84K
Fundraising eventsLn 1c$10K
Investment incomeLn 3$138K
Other incomeLn 4–11$94K
Gains on assetsLn 7$101K
Total revenueLn 12$316K
Assets in detailPt X, end of year
CashLn 1$116K
Cash and savings togetherLn 1–2$116K
InvestmentsLn 11–13$2.0M
Other assetsLn 15$798
Total assetsLn 16$2.1M
LiabilitiesLn 26$160K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$156K$116K
InvestmentsLn 11–13$1.5M$2.0M
Total assetsLn 16$1.6M$2.1M
LiabilitiesLn 26$0$160K
Net assetsLn 32$1.6M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$233K$233K
Grants to domestic individualsLn 2$80K$80K
Legal feesLn 11b$4K$4K
Investment management feesLn 11f$8K$8K
Office expensesLn 13$4K$4K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$12K$12K
Total functional expensesLn 25$342K$313K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $526K$326K$199K$2.3M 990 PDF
FY2024 $354K$274K$80K$2.1M 990 PDF
FY2023 $323K$303K$21K$1.8M 990 PDF
FY2022 $465K$249K$215K$1.7M 990 PDF
FY2021 Viewing $316K$342K−$27K$1.9M 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 FY2021 990 (6 parts)
Part I · Summary $315,829 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $242,641$84,262
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $46,594$137,616
I-11 Other revenuePrior year $61,829$93,951
I-12 Total revenuePrior year $351,064$315,829
I-13 Grants and similar amounts paidPrior year $136,738$313,149
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 $26,381$29,195
I-18 Total expensesPrior year $163,119$342,344
I-19 Revenue less expensesPrior year $187,945−$26,515
Part VI · Governance 27 of 27 board members independent, 3 to look at
VI-1a Voting members of the governing body27
VI-1b Independent voting members27
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 $315,829 across 7 lines filed
VIII-1c Fundraising events$10,300
VIII-1f All other contributions, gifts and grants$73,962
VIII-1h Total contributions, gifts and grants$84,262
VIII-3 Investment incomeExcluded from tax $36,781$36,781
VIII-7 Net gain or loss on sales of assetsRelated to mission $100,835$100,835
VIII-8 Net income from fundraising eventsExcluded from tax $93,951$93,951
VIII-12 Total revenueRelated to mission $100,835 · Unrelated business $0 · Excluded from tax $130,732$315,829
Part IX · Statement of functional expenses $342,344 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $233,249$233,249
IX-2 Grants to domestic individualsPrograms $79,900$79,900
IX-11b Legal feesManagement $3,609$3,609
IX-11f Investment management feesManagement $8,348$8,348
IX-13 Office expensesManagement $3,596$3,596
IX-23 InsuranceManagement $1,235$1,235
IX-24 Other expenses (24a–d)Management $12,407$12,407
IX-25 Total functional expensesPrograms $313,149 · Management $29,195 · Fundraising $0$342,344
Part X · Balance sheet $2,088,965 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $155,756$116,062
X-11 Publicly traded securitiesStart of year $1,485,627$1,972,105
X-15 Other assetsStart of year $1,153$798
X-16 Total assetsStart of year $1,642,536$2,088,965
X-18 Grants payable$160,000
X-26 Total liabilitiesStart of year $0$160,000
X-27 Net assets without donor restrictionsStart of year $570,245$579,090
X-28 Net assets with donor restrictionsStart of year $1,072,291$1,349,875
X-32 Total net assets or fund balancesStart of year $1,642,536$1,928,965
X-33 Total liabilities and net assetsStart of year $1,642,536$2,088,965
Part XI · Reconciliation of net assets $1,928,965 net assets at year end
XI-1 Total revenue$315,829
XI-2 Total expenses$342,344
XI-3 Revenue less expenses−$26,515
XI-4 Net assets at start of year$1,642,536
XI-9 Other changes in net assets$312,944
XI-10 Net assets at end of year$1,928,965

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

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