School Foundation INC FY2021 filing

Tax-deductible

Florence, SC501(c)(3)Foundations & GrantmakersEIN 57-1092759

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The School Foundation, INC. ("association") is a voluntary association of individuals operated collectively to serve the needs and interests and advance the general welfare to florence 1 schools.the School Foundation promotes educational excellence in florence, SC School district 1 through grants for innovative learning and through high impact initiatives designed to prepare all students for success.the organization achieves its goals by contributions to schools, School programs and advocacy of quality public education.the association welcomes everyone in florence 1 schools which is a public School system, regardless of age, race, sex, ethnicity, ability or religion.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$72K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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 6
filings with a surplus
Average surplus $131K a year · 31% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$72K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $22K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$166K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$333K
+68% vs prior year
Spent
$365K
To programs
70%
Net assets
$2.6M
By yearFY2020–FY2025
Revenue
$333K
FY2021▲ +68%
Revenue by fiscal year
FY2020$198K
FY2021$333K
FY2022$526K
FY2023$213K
FY2024$349K
FY2025$954K
Expenses
$365K
FY2021▲ +224%
Expenses by fiscal year
FY2020$113K
FY2021$365K
FY2022$295K
FY2023$346K
FY2024$325K
FY2025$344K
Net assets
$2.6M
FY2021▲ +17%
Net assets by fiscal year
FY2020$2.2M
FY2021$2.6M
FY2022$2.2M
FY2023$2.3M
FY2024$2.6M
FY2025$2.8M

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 Mar 2000.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $257K Management & general 22% · $82K Fundraising 7% · $27K

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; $72K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$71,949Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Debbie Hyler’s $79K as Executive Director is at the 72nd percentile of top reported officer pay among 1264 $100K–1M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Debbie Hyler$78,621$76,331$74,108$71,949$71,949$73,649

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See School 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Funds innovative learning and high-impact initiatives to prepare all students for success in Florence schools.

Provided by the organization

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3 programs · $144K · in their own filed words · FY2020
01

The foundation awarded $50,000 to florence 1 schools in june 2021 to pay for equipment and a one year subscription to the bloomberg market concepts courses and access to business week case studies to be available in the labs at two of the high schools.

$96Kprogram expense
02

STARTSMARTFSD1'S startsmart offers unique services for young children ages birth to age five that will help the florence community ensure that all children enter school ready to learn so that they will be better able to grow into productive citizens. The program has grown dramatically since it began in 2012.

$47Kprogram expense
03

START2READWE understand the importance of early language exposure to late success in school and life. Children who are read to every day, beginning at birth, are far more likely to be successful in school.

$540program 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 2 funders$22K
Grants paid · 40 grants · $788K · 2020–2024
Wilson High School BandFY2024$35,000
All Florence One SchoolsFY2024$30,500
All Florence One SchoolsFY2024$25,000
Royall Elementary SchoolFY2024$25,000
Brockington Elementary SchoolFY2024$17,510
Advantage AcademyFY2024$10,000
Dewey L Carter Elementary SchoolFY2024$6,368
Brockington Elementary SchoolFY2024$6,367
Child Development Center at Woods RoadFY2024$6,367
RN Beck Child Development CenterFY2024$6,367
Wallace Gregg Elementary SchoolFY2023$35,700
John W Moore Middle SchoolFY2023$35,229
West Florence High SchoolFY2023$23,944
Florence 1 Adult EducationFY2023$19,500
Wallace Gregg Elementary SchoolFY2023$14,388
North Vista Elementary SchoolFY2023$14,387
Reach - All F1s Elementary SchoolsFY2022$68,553
All F1s SchoolsFY2022$45,831
See all 40 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$333K
Ln 12
Investment incomeLn 3$171K
Gifts and grantsLn 1h$140K
Other incomeLn 4–11$22K
Money outPt IX
$365K
Ln 25
Programscol B$257K
Managementcol C$82K
Fundraisingcol D$27K
Owns and owesPt X
$2.6M
net assets · Ln 32
Cash and savingsLn 1–2$49K
Total assetsLn 16$2.7M
LiabilitiesLn 26$166K
PeoplePt VI, VII
27
listed · VII A
PaidVII A1
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$140K
Investment incomeLn 3$171K
Other incomeLn 4–11$22K
Gains on assetsLn 7$129K
Total revenueLn 12$333K
Assets in detailPt X, end of year
SavingsLn 2$49K
Cash and savings togetherLn 1–2$49K
InvestmentsLn 11–13$2.6M
Land, buildings, equipmentLn 10c$4K
Total assetsLn 16$2.7M
LiabilitiesLn 26$166K
Net assetsLn 32$2.6M
OperationsPt I, VI
EmployeesI 52
VolunteersI 675
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$147K$49K
InvestmentsLn 11–13$2.2M$2.6M
Land, buildings, equipmentLn 10c$3K$4K
Total assetsLn 16$2.4M$2.7M
LiabilitiesLn 26$160K$166K
Net assetsLn 32$2.2M$2.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$170K$170K
Pay of current officers, directors and key staffLn 5$72K$36K$18K$18K
Other salaries and wagesLn 7$27K$7K$14K$7K
Payroll taxesLn 10$8K$3K$2K$2K
Accounting feesLn 11c$7K$7K
Investment management feesLn 11f$26K$26K
Office expensesLn 13$1K$1K
OccupancyLn 16$10K$10K
Conferences, conventions and meetingsLn 19$699$699
Depreciation, depletion and amortizationLn 22$227$227
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$43K$41K$2K
Total functional expensesLn 25$365K$257K$82K$27K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $954K$344K$611K$2.8M 990 PDF
FY2024 $349K$325K$24K$2.6M 990 PDF
FY2023 $213K$346K−$133K$2.3M 990 PDF
FY2022 $526K$295K$231K$2.2M 990 PDF
FY2021 Viewing $333K$365K−$32K$2.6M 990 PDF
FY2020 $198K$113K$86K$2.2M 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 (5 parts)
Part I · Summary $333,494 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $63,533$140,107
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $134,946$171,087
I-11 Other revenuePrior year $0$22,300
I-12 Total revenuePrior year $198,479$333,494
I-13 Grants and similar amounts paidPrior year $0$170,128
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $52,898$106,535
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $59,811$88,788
I-18 Total expensesPrior year $112,709$365,451
I-19 Revenue less expensesPrior year $85,770−$31,957
Part VIII · Statement of revenue $333,494 across 6 lines filed
VIII-1f All other contributions, gifts and grants$140,107
VIII-1h Total contributions, gifts and grants$140,107
VIII-3 Investment incomeRelated to mission $42,395$42,395
VIII-7 Net gain or loss on sales of assetsUnrelated business $128,692$128,692
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $22,300$22,300
VIII-12 Total revenueRelated to mission $64,695 · Unrelated business $128,692 · Excluded from tax $0$333,494
Part IX · Statement of functional expenses $365,451 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $170,128$170,128
IX-5 Pay of current officers, directors and key staffPrograms $35,975 · Management $17,987 · Fundraising $17,987$71,949
IX-7 Other salaries and wagesPrograms $6,753 · Management $13,508 · Fundraising $6,754$27,015
IX-10 Payroll taxesPrograms $3,269 · Management $2,409 · Fundraising $1,893$7,571
IX-11c Accounting feesManagement $6,800$6,800
IX-11f Investment management feesManagement $25,869$25,869
IX-13 Office expensesManagement $1,105$1,105
IX-16 OccupancyManagement $9,548$9,548
IX-19 Conferences, conventions and meetingsManagement $699$699
IX-22 Depreciation, depletion and amortizationManagement $227$227
IX-23 InsuranceManagement $1,481$1,481
IX-24 Other expenses (24a–d)Programs $40,983 · Management $2,076$43,059
IX-25 Total functional expensesPrograms $257,108 · Management $81,709 · Fundraising $26,634$365,451
Part X · Balance sheet $2,736,798 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $146,867$49,397
X-9 Prepaid expenses and deferred chargesStart of year $36,315$36,227
X-10c Land, buildings and equipment, netStart of year $3,286$3,566
X-12 Other securitiesStart of year $2,166,081$2,647,608
X-16 Total assetsStart of year $2,352,549$2,736,798
X-17 Accounts payable and accrued expensesStart of year $416$325
X-19 Deferred revenueStart of year $137,565$144,715
X-24 Unsecured notes and loans payableStart of year $22,300$20,618
X-26 Total liabilitiesStart of year $160,281$165,658
X-27 Net assets without donor restrictionsStart of year $2,192,268$2,554,949
X-28 Net assets with donor restrictions$16,191
X-32 Total net assets or fund balancesStart of year $2,192,268$2,571,140
X-33 Total liabilities and net assetsStart of year $2,352,549$2,736,798
Part XI · Reconciliation of net assets $2,571,140 net assets at year end
XI-1 Total revenue$333,494
XI-2 Total expenses$365,451
XI-3 Revenue less expenses−$31,957
XI-4 Net assets at start of year$2,192,268
XI-5 Net unrealized gains (losses) on investments$410,829
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,571,140

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

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