Springfield Area Education Foundation: FY2020 Nonprofit Profile & Form 990 (EIN 75-3196779)

Revenue by fiscal year
FY2020	$224K
FY2021	$259K
FY2022	$599K
FY2023	$271K
FY2024	$450K
FY2025	$627K

Expenses by fiscal year
FY2020	$156K
FY2021	$225K
FY2022	$220K
FY2023	$341K
FY2024	$324K
FY2025	$350K

Net assets by fiscal year
FY2020	$1.5M
FY2021	$1.8M
FY2022	$1.8M
FY2023	$1.8M
FY2024	$1.9M
FY2025	$2.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2006.

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

Where the money goes

63 cents of each dollar spent went to programs.

63%

27%

Program services 63% · $98K Management & general 11% · $17K Fundraising 27% · $42K

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

24 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII

Steven Todaro

President

$0Pt VII · Sec A

Joseph Nastasi

Vice President

$0Pt VII · Sec A

John Sullivan

Treasurer

$0Pt VII · Sec A

Donald Mooney

Secretary

$0Pt VII · Sec A

Mark Schmidt

Trustee

$0Pt VII · Sec A

Adeline Benthany

Trustee

$0Pt VII · Sec A

Kathleen Boyer

Trustee

$0Pt VII · Sec A

Susan Descano

Trustee

$0Pt VII · Sec A

See Springfield Area 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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

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

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Provided by the organization

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2 programs · $98K · in their own filed words · FY2019

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.

$81Kprogram expense

02

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

$17Kprogram 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

Fidelity Investments Charitable Gift FundFY2024$68K

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 Elementary Home and School AssocPA · FY2024$15,000

Springfield School District - Etr Leadership CampFY2024$5,070

Unitemized GrantFY2023$141,174

Springfield School DistrictFY2023$71,726

Springfield School District Elementary Home and School AssocPA · FY2023$15,500

Unitemized GrantFY2022$170,905

Springfield School DistrictFY2022$90,839

Springfield School District Elementary Home and School AssocPA · FY2022$15,000

Unitemized GrantFY2021$129,639

Springfield School District Elementary Home and School AssocPA · FY2021$15,000

Springfield School DistrictFY2021$13,362

Unitemized GrantFY2020$119,955

Springfield School DistrictFY2020$38,237

Springfield School District Elementary Home and School AssocPA · FY2020$7,500

Unitemized GrantFY2019$81,053

Springfield School District Elementary Home and School AssocPA · FY2019$16,760

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$224K

Ln 12

Gifts and grantsLn 1h$124K

Investment incomeLn 3$59K

Other incomeLn 4–11$40K

Money outPt IX

$156K

Ln 25

Programscol B$98K

Managementcol C$17K

Fundraisingcol D$42K

Owns and owesPt X

$1.5M

net assets · Ln 32

Cash and savingsLn 1–2$869K

Total assetsLn 16$1.8M

LiabilitiesLn 26$314K

PeoplePt VI, VII

24

listed · VII A

PaidVII A0

Voting boardVI 1a24

IndependentVI 1b24

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$124K

Noncash giftsLn 1g$60K

Fundraising eventsLn 1c$14K

Investment incomeLn 3$59K

Other incomeLn 4–11$40K

Gains on assetsLn 7$11K

Total revenueLn 12$224K

Assets in detailPt X, end of year

SavingsLn 2$869K

Cash and savings togetherLn 1–2$869K

InvestmentsLn 11–13$976K

Total assetsLn 16$1.8M

LiabilitiesLn 26$314K

Net assetsLn 32$1.5M

OperationsPt I, VI

EmployeesI 50

VolunteersI 623

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$801K	$869K
InvestmentsLn 11–13	$1.0M	$976K
Total assetsLn 16	$1.8M	$1.8M
LiabilitiesLn 26	$305K	$314K
Net assetsLn 32	$1.5M	$1.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$17K	$17K
Grants to domestic individualsLn 2	$81K	$81K
Investment management feesLn 11f	$7K		$7K
Office expensesLn 13	$487		$487
Other expenses (24a–d)Ln 24	$51K		$10K	$42K
Total functional expensesLn 25	$156K	$98K	$17K	$42K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$627K	$350K	$277K	$2.2M	990 PDF
FY2024	$450K	$324K	$126K	$1.9M	990 PDF
FY2023	$271K	$341K	−$70K	$1.8M	990 PDF
FY2022	$599K	$220K	$379K	$1.8M	990 PDF
FY2021	$259K	$225K	$34K	$1.8M	990 PDF
FY2020 Viewing	$224K	$156K	$67K	$1.5M	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 M · Noncash O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $223,575 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $350,326$124,245

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $37,496$59,033

I-11 Other revenuePrior year $23,908$40,297

I-12 Total revenuePrior year $411,730$223,575

I-13 Grants and similar amounts paidPrior year $108,199$97,813

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 $63,658$58,596

I-18 Total expensesPrior year $171,857$156,409

I-19 Revenue less expensesPrior year $239,873$67,166

Part VI · Governance 24 of 24 board members independent, 5 to look at

VI-1a Voting members of the governing body24

VI-1b Independent voting members24

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

Part VIII · Statement of revenue $223,575 across 9 lines filed

Lines not itemized here account for −$160 of total revenue; see the IRS return.

VIII-1c Fundraising events$14,148

VIII-1f All other contributions, gifts and grants$110,097

VIII-1g Noncash contributions (included above)$59,655

VIII-1h Total contributions, gifts and grants$124,245

VIII-3 Investment incomeExcluded from tax $47,645$47,645

VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,388$11,388

VIII-8 Net income from fundraising eventsExcluded from tax $10,707$10,707

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $29,750$29,750

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $99,330$223,575

Part IX · Statement of functional expenses $156,409 across 5 lines filed

IX-1 Grants to domestic organizationsPrograms $16,760$16,760

IX-2 Grants to domestic individualsPrograms $81,053$81,053

IX-11f Investment management feesManagement $6,662$6,662

IX-13 Office expensesManagement $487$487

IX-24 Other expenses (24a–d)Management $9,876 · Fundraising $41,571$51,447

IX-25 Total functional expensesPrograms $97,813 · Management $17,025 · Fundraising $41,571$156,409

Part X · Balance sheet $1,845,088 assets, 12 lines filed

X-2 Savings and temporary cash investmentsStart of year $800,534$869,417

X-11 Publicly traded securitiesStart of year $1,008,575$975,671

X-16 Total assetsStart of year $1,809,109$1,845,088

X-17 Accounts payable and accrued expensesStart of year $4,716$8,236

X-18 Grants payableStart of year $110,500$104,125

X-19 Deferred revenue$11,747

X-25 Other liabilitiesStart of year $190,000$190,000

X-26 Total liabilitiesStart of year $305,216$314,108

X-27 Net assets without donor restrictionsStart of year $178,045$196,949

X-28 Net assets with donor restrictionsStart of year $1,325,848$1,334,031

X-32 Total net assets or fund balancesStart of year $1,503,893$1,530,980

X-33 Total liabilities and net assetsStart of year $1,809,109$1,845,088

Part XI · Reconciliation of net assets $1,530,980 net assets at year end

XI-1 Total revenue$223,575

XI-2 Total expenses$156,409

XI-3 Revenue less expenses$67,166

XI-4 Net assets at start of year$1,503,893

XI-5 Net unrealized gains (losses) on investments−$40,079

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,530,980

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

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Springfield Area Education Foundation FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Springfield Area Education Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV