Broward Education Foundation Inc in Ft Lauderdale, Florida (FL)

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Broward Education Foundation Inc
Employer Identification Number (EIN)592359433
Name of OrganizationBroward Education Foundation Inc
Address600 Se 3rd Ave, Ft Lauderdale, FL 33301-3125
ActivitiesGifts, grants, or loans to other organizations, Scholarships (other)
SubsectionEducational Organization
Ruling Date01/1985
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$8,329,407
Amount of Income$1,859,655
Form 990 Revenue Amount$1,783,051
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2012: $1,859,655
This organization: 

 $1,859,655
Other organizations performing similar types of work: 

 $258,712

Assets in 2012: $8,329,407
This organization: 

 $8,329,407
Other organizations performing similar types of work: 

 $1,074,371

Expenses in 2006: $2,352,236
This organization: 

 $2,352,236
Other organizations performing similar types of work: 

 $477,097

Income to expenses ratio in 2006: 1.1
Broward Education Foundation Inc: 

 1.1
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2006: 84.2%
This organization: 

 84.2%
Other organizations performing similar types of work: 

 82.5%

Grants share in income in 2006: 93.3%
This organization: 

 93.3%
Other organizations performing similar types of work: 

 37.1%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020022003200420052006
Total revenue$1,566,419$1,414,601$1,227,617$1,561,765$2,558,749$2,605,163
Contributions, gifts, grants, and similar amounts received$1,457,860$1,303,968$1,154,223$1,461,240$2,425,909$2,429,793
Contributions to donor advised funds$0
Direct public support$1,081,214$1,264,413$1,106,906$1,305,275$1,996,531$2,044,142
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$376,646$39,555$47,317$155,965$429,378$385,651
Program service revenue including government fees and contracts$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0
Interest on savings and temporary cash investments$61,780$22,313$51,448$64,862$101,168$137,609
Dividends and interest from securities$0$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$46,779$88,320$21,946$35,663$31,672$37,761
Total expenses$980,260$641,214$631,013$1,349,091$1,525,484$2,352,236
Program services$836,825$576,171$406,225$1,051,463$1,194,364$1,981,462
Management and general$143,435$65,043$154,782$297,628$331,120$370,774
Fundraising$0$0$70,006$0$0$0
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$3,840,503$5,505,254$5,906,632$6,119,306$7,152,571$7,405,498
Excess or (deficit) for the year$586,159$773,387$596,604$212,674$1,033,265$252,927
Net assets or fund balances at beginning of year$3,254,344$4,383,521$5,505,254$5,906,632$6,119,306$7,152,571
Other changes in net assets or fund balances$0$348,346$-195,226$0$0$0
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,352,236$1,981,462$370,774$0
Grants paid from donor advised funds$0
Other grants and allocations$532,421
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$28,964$24,834$4,130$0
Telephone$1,884$0$1,884$0
Postage and shipping$668$615$53$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$39,432$31,313$8,119$0
Travel$6,055$2,954$3,101$0
Conferences, conventions, and meetings$8,845$3,030$5,815$0
Interest$0$0$0$0
Depreciation, depletion, etc.$912$0$912$0
Other expenses not covered above$1,733,055$1,386,295$346,760$0
Balance Sheets
200020022003200420052006
Total assets$6,197,204$5,505,254$5,906,632$6,229,208$7,287,549$7,601,291
Cash - non-interest-bearing$3,401,968$0$0$0$0$0
Savings and temporary cash investments$713,717$1,164,943$1,765,901$1,960,989$2,274,494$2,089,967
Accounts receivable less allowance for doubtful accounts$0$0$0$98,640$85,886$81,440
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0
Inventories for sale or use$0$497,570$303,256$292,127$374,306$324,464
Prepaid expenses and deferred charges$2,081,519$3,078,055$3,608,061$3,666,763$0$4,844,538
Investments - publicly-traded securities$0
Investments - other securities$0$760,508$226,147$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$0$0$0$208,334$186,171$260,351
Land, buildings, and equipment less accumulated depreciation$0$4,178$3,267$2,355$1,443$531
Other assets, including program-related investments$0$0$0$0$4,365,249$0
Total liabilities$2,356,701$0$0$109,902$134,978$195,793
Accounts payable and accrued expenses$0$0$0$109,902$134,978$195,793
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0
Other liabilities$2,356,701$0$0$0$0$0
Total liabilities and net assets/fund balances$6,197,204$5,505,254$5,906,632$6,229,208$7,287,549$7,601,291
Total net assets or fund balances$3,840,503$5,505,254$5,906,632$6,119,306$7,152,571$7,405,498
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020022003200420052006
Total revenue$1,556,419$1,414,601$1,227,617$1,561,765$2,558,749$2,605,163
Total revenue, gains, and other support per audited financial statements$1,556,419$1,835,068$1,762,763$1,561,765$2,558,749$2,605,163
Other expenses$0$420,467$535,146$0$0$0
Net unrealized gains on investments$0$29,508$0$0$0$0
Donated services and use of facilities$0$390,959$535,146$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020022003200420052006
Total expenses$836,825$641,214$631,013$1,349,091$1,525,484$2,352,236
Total expenses and losses per audited financial statements$836,825$1,032,173$1,361,385$1,344,438$1,525,484$2,352,236
Other revenue$0$390,959$730,372$0$0$0
Donated services and use of facilities$0$390,959$730,372$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Other expenses$0$0$0$4,653$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$4,653$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings40
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$175,370
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$137,609
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$37,761
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
199920012002200320042005
Total$1,454,353$1,653,746$1,511,657$1,205,671$1,561,765$2,558,749
Gifts, grants, and contributions received$1,371,871$1,649,196$1,303,968$1,154,223$1,461,240$2,425,909
Membership fees received$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$82,482$4,550$22,313$51,448$64,862$101,168
Net income from unrelated business activities not included above$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$185,376$0$0$0
Other income$0$0$0$0$35,663$31,672
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$2,609,014
Contributions, Gifts, Grants and Other Similar Amounts$2,164,705
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$333,885
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$9,706
Gross income from fundraising events$80,003
Less: direct expenses$70,297
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$100,718
Statement of Functional Expenses (for 2011)
Total functional expenses$1,996,352
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$31,275
Professional fundraising services$54,979
Other$1,910,098
Balance Sheet (for 2011)
Total assets$8,985,311
Total liabilities$374,611
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$374,611
Total net assets or fund balances$8,610,700
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$11,635,119
Gifts, grants, contributions, and membership fees received$11,299,807
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$335,312
Gross receipts from related activities, etc.$0
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2Massachusetts Higher Education Assistance Corporation, American Student Assistance100 Cambridge St Ste 1600, Boston, MA 02114-2518MA1958-12$311,626,562
3Scholarship America Inc, S-V Dollars For Scholars1024 South Locust, Sesser, IL 62884IL1962-04$178,360,029
4Trinity Higher Education Authority Inc2600 Washington Avenue, Waco, TX 76710TX1989-09$138,316,451
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6National Merit Scholarship Corporation1560 Sherman Ave Ste 200, Evanston, IL 60201-4816IL1957-01$81,100,833
7Hispanic Scholarship Fund1411 W 190th St Ste 325, Gardena, CA 90248-4362CA1976-01$75,863,104
8Dartmouth Educational Loan Corp7 Lebanon St Ste 302, Hanover, NH 03755-2112NH1982-04$71,016,388
9Iowa Student Loan Liquidity Corp6805 Vista Dr, Wdm, IA 50266-9307IA1981-02$70,055,349
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11Nc Student Aid Association IncPO BOX 37100, Raleigh, NC 27627-7100NC1955-08$63,740,166
12Acapita Education Finance CorporationPO BOX 1308, Waco, TX 76703-1308TX1989-11$60,541,613
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19Evans Scholars Foundation1 Briar Rd, Golf, IL 60029-2000IL1976-09$31,964,833
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24The Childrens Scholarship Fund8 West 38th St 9th Floor, New York, NY 10018-6229NY1998-11$26,225,406
25Broward Education Foundation Inc600 Se 3rd Ave, Ft Lauderdale, FL 33301-3125FL1985-01$1,859,655
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27Fort Walton Beach Medical Center Auxiliary Inc1000 Mar Walt Dr, Ft Walton Bch, FL 32547-6708FL1977-06$42,986
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29Greater Lake Wales Health Care Foundation Inc410 S 11th St, Lake Wales, FL 33853-4203FL2003-05$932,077
30Roberto Romero Ruelo Law Foundation Inc16409 Ashwood Drive, Tampa, FL 33624FL2007-08$0
Number of organizations performing similar types of work
Alaska3
Alabama11
Arkansas13
Arizona21
California93
Colorado3
Connecticut3
District of Columbia8
Delaware2
Florida9
Georgia9
Hawaii3
Iowa8
Illinois27
Indiana7
Kansas1
Kentucky3
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota27
Missouri8
Mississippi3
Montana1
North Carolina14
North Dakota2
Nebraska2
New Hampshire2
New Jersey12
New Mexico1
New York17
Ohio18
Oklahoma3
Oregon1
Pennsylvania18
Rhode Island1
South Carolina6
South Dakota2
Tennessee5
Texas38
Utah1
Virginia14
Vermont1
Washington5
Wisconsin14
Wyoming3
International3
Total476

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