Springfield Area Education Foundation

Springfield, PA · Public charity (501(c)(3)) · Since 2005 · Education

✓ Tax-deductible
Revenue
$627K
+39% vs prior year
Spent
$350K
To programs
54%
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$627K
FY2024▲ +39%
Revenue by fiscal year
FY2020$224K
FY2021$259K
FY2022$599K
FY2023$271K
FY2024$450K
FY2024$627K
Expenses
$350K
FY2024▲ +8%
Expenses by fiscal year
FY2020$156K
FY2021$225K
FY2022$220K
FY2023$341K
FY2024$324K
FY2024$350K
Net assets
$2.2M
FY2024▲ +12%
Net assets by fiscal year
FY2020$1.5M
FY2021$1.8M
FY2022$1.8M
FY2023$1.8M
FY2024$1.9M
FY2024$2.2M

From the FY2024 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CSpringfield Area Education Foundation
EINHdr · item D75-3196779
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 2006
Year of formationHdr · item L2005
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSpringfield, PA
NTEE classificationIRS BMFEducation (B11)
WebsiteHdr · item Jwww.saef.net

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.54 Management & general $0.43 Fundraising $0.03
Program services54%$189K
Management & general43%$150K
Fundraising3%$11K
Total functional expensesLn 25$350K

Financial health

Is it on solid ground?

Program efficiency
54%
of spending reaches programs▼ -23% vs prior filing year
Operating runway
81.1mo
months of highly liquid reserves at operating expense rate▲ +5% vs prior filing year
Surplus margin
+44%
revenue over expenses, this year▲ +58% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$2.4M
FY2024▲ +14%
Total assets by fiscal year
FY2020$1.8M
FY2021$2.2M
FY2022$2.0M
FY2023$2.0M
FY2024$2.1M
FY2024$2.4M
Total liabilities
$191K
FY2024▲ +39%
Total liabilities by fiscal year
FY2020$314K
FY2021$386K
FY2022$181K
FY2023$201K
FY2024$137K
FY2024$191K
Revenue less expensesPt I · Ln 19$277K
Total assetsPt X · Ln 16$2.4M
Program-expense ratioPt IX · col B54%
Voting members of governing bodyPt I · Ln 323
Independent voting membersPt I · Ln 423

Balance Sheet

Part X · end of year
CashLn 1$81K
Total assetsLn 16$2.4M
Total liabilitiesLn 26$191K
Total net assetsLn 32$2.2M
Months of cash on handcomputed2.8

Statement of Revenue

Part VIII
Contributions & grants$430K · 69%
Investment income$231K · 37%
Contributions & grants69%$430K
Investment income37%$231K
Total revenueLn 12$627K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $2.4M · Operating expenses/yr $350K
81.1 months
Where the money goes
Program services
Program services $189K · Total expenses $350K
54%
Management & General
Management & general $150K · Total expenses $350K
43%
Fundraising
Fundraising $11K · Total expenses $350K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $43K · Solicited contributions (3-yr avg) $269K
$0.16 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $430K · Total revenue $627K
69%
Government reliance
Government grants — · Total revenue $627K
—
Earned-income share
Program service revenue $0 · Total revenue $627K
0%
Investment reliance
Investment income $231K · Total revenue $627K
+37%
Program self-sufficiency
Program service revenue $0 · Total expenses $350K
0%
Growth & trend
Revenue growth (YoY)
This year $627K · Prior year $450K
+39%
Revenue CAGR
FY2019 $224K · FY2024 $627K
+23%
Net-asset trend (YoY)
End of year $2.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $627K · Expenses $350K
+44%
Liabilities-to-Assets
Total liabilities — · Total assets $2.4M
—
Net-asset ratio
Net assets $2.2M · Total assets $2.4M
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $2.3M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.4M
96%
People & payroll
Highest Reported Total Compensation
Individual Steve Todaro · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $350K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $350K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 54%——
Overhead ratio 43%——
Fundraising cost ratio 3%——
Revenue growth 39%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
See Springfield Area Education Foundation executive salaries →

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Governance & Policies

Part VI
  • 23Voting board membersPt VI · Ln 1a
  • 23Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Enhances student academic, artistic, and athletic experiences in Springfield schools.

Provided by the organization

This section is blank until Springfield Area Education Foundation claims this page.

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Mission & Programs · Part III

Where the work happens

2 program services account for $189K of program spending, described in the organization's own filed words · FY2024.
01

Awards and scholarshipseach year, saef honors former students, alumni, teachers, advisors, and associated individuals who have achieved excellence in their career fields such as arts, athletics, law, medicine, entrepreneurship, education, public service or related fields that merit special recognition.

$189Kprogram expense
02

Provide funding for educational and athletic special programs which require funding outside of normal channels.

Pt IX · col B

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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$68K
Grants paid · 18 grants · $1.1M · 2019–2024
Unitemized GrantFY2024$152,914
Springfield School District Teacher GrantsFY2024$15,864
Springfield School District - Etr Leadership CampFY2024$5,070
Unitemized GrantFY2023$141,174
Springfield School DistrictFY2023$71,726
Unitemized GrantFY2022$170,905
Springfield School DistrictFY2022$90,839
Unitemized GrantFY2021$129,639
Springfield School DistrictFY2021$13,362
Unitemized GrantFY2020$119,955
Springfield School DistrictFY2020$38,237
Unitemized GrantFY2019$81,053

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $450K$324K+66% 990 PDF
FY2023 $271K$341K-55% 990 PDF
FY2022 $599K$220K+131% 990 PDF
FY2021 $259K$225K+16% 990 PDF
FY2020 $224K$156K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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