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Beacon Education Foundation FY2022 filing

Tax-deductible

Virginia Bch, VA501(c)(3)EducationEIN 45-5433576Revenue $39K in FY2022

On file with the IRS5501 Greenwich Rd Ste 250, 23462-6540 · Virginia Bch, VATax-exempt since Sep 2012Publicly supported charity — 170(b)(1)(A)(vi)

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Increase access to higher education for students

501(c)(3) charity; gifts are tax-deductible.
45¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
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
3 of 5
filings with a surplus
Average deficit $3K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
45%
of spending
Concern: 45% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
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
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$39K
-74% vs prior year
Spent
$145K
To programs
45%
Net assets
$511K
By yearFY2020–FY2024
Revenue
$39K
FY2022▼ -74%
Tap a bar for its year
Revenue by fiscal year
FY2020$25K
FY2021$146K
FY2022$39K
FY2023$164K
FY2024$81K
Expenses
$145K
FY2022▲ +118%
Tap a bar for its year
Expenses by fiscal year
FY2020$119K
FY2021$67K
FY2022$145K
FY2023$65K
FY2024$75K
Net assets
$511K
FY2022▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2020$538K
FY2021$618K
FY2022$511K
FY2023$609K
FY2024$616K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 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 ruling in Sep 2012.

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

Where the money goes

45 cents of each dollar spent went to programs.

Program services 45% · $65K Management & general 55% · $80K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Jerrold L Miller
Pressecr Treas
$0Pt VII · Sec A
$0Pt VII · Sec A
See Beacon Education Foundation 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

Helps students get into college and succeed.

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Provided by the organization

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1 program · $65K · in their own filed words · FY2022
01

Scholarhip Program

for students who are pursuing educational opportunities in the fields of computers and technology, business & criminal justice, health sciences, culinary arts, and advanced trade skills.

$65Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Lenny Peters Foundation INCFY2024$5K
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$39K
Ln 12
Gifts and grantsLn 1h$29K
Investment incomeLn 3$10K
Money outPt IX
$145K
Ln 25
Programscol B$65K
Managementcol C$80K
Owns and owesPt X
$511K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$511K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29K
Investment incomeLn 3$10K
Total revenueLn 12$39K
Assets in detailPt X, end of year
CashLn 1$13K
Cash and savings togetherLn 1–2$13K
InvestmentsLn 11–13$498K
Total assetsLn 16$511K
LiabilitiesLn 26$0
Net assetsLn 32$511K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$5K$13K
InvestmentsLn 11–13$613K$498K
Total assetsLn 16$618K$511K
LiabilitiesLn 26$0$0
Net assetsLn 32$618K$511K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$65K$65K
Legal feesLn 11b$250$250
Investment management feesLn 11f$36$36
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$79K$79K
Total functional expensesLn 25$145K$65K$80K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $81K$75K$7K$616K 990 PDF
FY2023 $164K$65K$98K$609K 990 PDF
FY2022 Viewing $39K$145K−$107K$511K 990 PDF
FY2021 $146K$67K$80K$618K 990 PDF
FY2020 $25K$119K−$94K$538K 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 FY2022 990 (6 parts)
Part I · Summary $38,576 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,527$28,994
I-9 Program service revenue$0
I-10 Investment incomePrior year $133,642$9,582
I-11 Other revenue$0
I-12 Total revenuePrior year $146,169$38,576
I-13 Grants and similar amounts paidPrior year $57,005$65,179
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $9,605$80,082
I-18 Total expensesPrior year $66,610$145,261
I-19 Revenue less expensesPrior year $79,559−$106,685
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower 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
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $38,576 across 5 lines filed
VIII-1f All other contributions, gifts and grants$28,994
VIII-1h Total contributions, gifts and grants$28,994
VIII-3 Investment incomeRelated to mission $9,582$9,582
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $9,582$38,576
Part IX · Statement of functional expenses $145,261 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $65,179$65,179
IX-11b Legal feesManagement $250$250
IX-11f Investment management feesManagement $36$36
IX-23 InsuranceManagement $1,002$1,002
IX-24 Other expenses (24a–d)Management $78,794$78,794
IX-25 Total functional expensesPrograms $65,179 · Management $80,082 · Fundraising $0$145,261
Part X · Balance sheet $511,104 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $4,804$13,156
X-11 Publicly traded securitiesStart of year $612,985$497,948
X-16 Total assetsStart of year $617,789$511,104
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $617,789$511,104
X-32 Total net assets or fund balancesStart of year $617,789$511,104
X-33 Total liabilities and net assetsStart of year $617,789$511,104
Part XI · Reconciliation of net assets $511,104 net assets at year end
XI-1 Total revenue$38,576
XI-2 Total expenses$145,261
XI-3 Revenue less expenses−$106,685
XI-4 Net assets at start of year$617,789
XI-10 Net assets at end of year$511,104

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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