Civic Intelligence

Frisco Education Foundation

990 • Fiscal year 2015 • EIN 31-1689773

Aug 01, 2014 to Jul 31, 2015 • Filed on Nov 11, 2015

Organization ProfileWWW.FRISCOEDUCATIONFOUNDATION.ORG
PO Box 567Frisco, TX 75034

(469) 633-6860

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

48th percentile

0.09x

Higher debt load relative to assets than 48% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

73rd percentile

0.38x

Higher debt load relative to revenue than 73% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

28th percentile

-4.9%

Higher net margin than 28% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

38th percentile

-1.7%

Faster asset growth than 38% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

5th percentile

-50%

Faster revenue growth than 5% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets48th percentile

Assets

Down

$3,802,462

Down $66,616 (-1.7%) from 2014

Net Assets

Down

$3,452,171

Down $136,105 (-3.8%) from 2014

Liabilities

Up

$350,291

Up $69,489 (+25%) from 2014

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin28th percentile

Revenue

Down

$910,157

Down $906,267 (-50%) from 2014

Expenses

Up

$954,359

Up $227,984 (+31%) from 2014

Net Income

Down

-$44,202

Down $1,134,251 (-104%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2012: $2,641,963Liabilities 2012: $266,692Net Assets 2012: $2,375,2712012Assets 2013: $2,727,150Liabilities 2013: $295,356Net Assets 2013: $2,431,7942013Assets 2014: $3,869,078Liabilities 2014: $280,802Net Assets 2014: $3,588,2762014Assets 2015: $3,802,462Liabilities 2015: $350,291Net Assets 2015: $3,452,1712015Assets 2016: $3,881,069Liabilities 2016: $259,444Net Assets 2016: $3,621,6252016Assets 2018: $4,242,048Liabilities 2018: $246,631Net Assets 2018: $3,995,4172018Assets 2019: $4,194,104Liabilities 2019: $215,687Net Assets 2019: $3,978,4172019Assets 2020: $4,469,568Liabilities 2020: $303,288Net Assets 2020: $4,166,2802020Assets 2021: $4,925,953Liabilities 2021: $235,754Net Assets 2021: $4,690,1992021Assets 2022: $4,688,334Liabilities 2022: $222,338Net Assets 2022: $4,465,9962022Assets 2023: $4,999,518Liabilities 2023: $218,437Net Assets 2023: $4,781,0812023Assets 2025: $5,731,031Liabilities 2025: $242,012Net Assets 2025: $5,489,0192025

Highlighted filing

2015

Assets$3,802,462
Liabilities$350,291
Net Assets$3,452,171
Open 2015 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $645,6112012Expenses 2013: $741,8732013Revenue 2014: $1,816,424Expenses 2014: $726,375Net Income 2014: $1,090,0492014Revenue 2015: $910,157Expenses 2015: $954,359Net Income 2015: -$44,2022015Revenue 2016: $1,009,226Expenses 2016: $854,632Net Income 2016: $154,5942016Revenue 2018: $1,214,333Expenses 2018: $1,176,950Net Income 2018: $37,3832018Revenue 2019: $1,123,673Expenses 2019: $1,102,835Net Income 2019: $20,8382019Revenue 2020: $1,072,934Expenses 2020: $1,039,904Net Income 2020: $33,0302020Revenue 2021: $1,031,886Expenses 2021: $914,105Net Income 2021: $117,7812021Revenue 2022: $1,147,545Expenses 2022: $947,848Net Income 2022: $199,6972022Revenue 2023: $1,081,977Expenses 2023: $951,801Net Income 2023: $130,1762023Revenue 2025: $1,439,150Expenses 2025: $1,207,045Net Income 2025: $232,1052025

Highlighted filing

2015

Revenue$910,157
Expenses$954,359
Net Income-$44,202
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2014 to Jul 31, 2015
Signed
Nov 11, 2015
Return Version
2014v5.0
Gross Receipts
$981,758
Mission and Program Overview

Mission

To provide scholarships to graduating high school students in the frisco independent school district. The foundation also supports educational programs and educators in the district through grants for great ideas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$2,950,367-
Savings and Temporary Cash Investments$2,910,699$784,412▼ $2,126,287
Cash and Non-Interest-Bearing Accounts$942,182$57,683▼ $884,499
Pledges and Grants Receivable$16,197$10,000▼ $6,197
Total Assets$3,869,078$3,802,462▼ $66,616
Liabilities
Other Liabilities$280,802$350,291▲ $69,489
Total Liabilities$280,802$350,291▲ $69,489
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,033,896$2,117,553▲ $83,657
Unrestricted Net Assets$1,344,140$1,162,739▼ $181,401
Temporarily Rstr Net Assets$210,240$171,879▼ $38,361
Total Net Assets Fund Balance$3,588,276$3,452,171▼ $136,105
Total Liabilities and Net Assets / Fund Balance$3,869,078$3,802,462▼ $66,616

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$2,033,896$156,423▼ $19,766-$2,117,553
2013$926,463$1,122,772▲ $17,661-$2,033,896
2012$824,965$76,181▲ $5,424-$874,570
2011$756,316$84,715▲ $11,327-$825,858
2010$597,027$151,102▲ $8,293-$756,316
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Mj PritchardPresident
Bill HayesBoard Member
Christal HowardBoard Member
Cynthia HurleyBoard Member
David BuckBoard Member
David TurnerBoard Member
Geneva PolsterBoard Member
Jesus HiraldoBoard Member
John MillerBoard Member
Lee FreemanBoard Member
Lierin CurryBoard Member
Marie WaltersBoard Member
Michael ElmanBoard Member
Michael SimmonsBoard Member
Ortega PittmanBoard Member
Sandy HanselBoard Member
Sunitha CheruvuBoard Member
Tiffany BozemanBoard Member
Tom CockeBoard Member
Velisse WilliamsBoard Member
Whitney Newman-brubakerBoard Member
Peter BurnsPast Preside
Julie FisherSecretary
Gary CarleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$729,278
Program Service Revenue
$0
Investment Income
$90,988
Other Revenue
$89,891
All Other Contributions
$729,278
Change in Net Assets
$-44,202

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table3$43,700
Total Noncash Contributions3$43,700

Audited Revenue Reconciliation

Revenue per Audited Statements
$910,157
Revenue Not Reported on Form 990
$-38,075
Total Revenue per Audited Statements
$872,082
Total Revenue per Form 990
$910,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$810,769
Other Expenses$143,590
Total Fundraising Expense$62,092
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$810,769--$810,769
All Other Expenses-$2,041$19,092$21,133
Office Expenses-$14,071-$14,071
Other Expenses$37,312$11,606$500$11,606
Insurance-$3,691-$3,691
Total Functional Expenses$848,081$44,186$62,092$954,359

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,019,996
Expenses per Audited Statements$954,359
Total Expenses per Form 990$954,359
Expenses Not Reported on Form 990$65,637
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$161,492
Fundraising Direct Expenses$71,601
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gary Burns Fun$134,613$134,613$57,883$76,730
IT'S A WONDERFU$26,879$26,879$13,008$13,871
Total Events$161,492$161,492$71,601$89,891
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarships Payable$350,291
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 4

“Bylaws 3.1 no elected officials or candidates may serve on the board as a voting member 3.2 increased advisory committee from no more than 8 to no more than 9 3.2 added one former foundation board member and one at large member 3.8 expiration of term: a trustee may serve a maximum of two successive terms with the exception that a trustee may serve additional terms as necessary to fulfill the term requirement of president, past-president, or president-elect 3.9 added may to no meetings held 3.15 updated removal and resignation guidelines 3.18 added the word investment to the finance committee to be investment & finance committee 5.1 removed cap on number of executive committee members we could have 5.2 changed the composition of our executive committee to officers and standing committee chair and co-chairs 5.3 amended the purpose of the executive committee as it relates to policy and procedure changes 6.3 term of office for committee members extended from june to august 6.8 a. Amended investment and finance committee 6.8 e. Added audit & compliance committee policies and procedures complete audit/review and curing up of our policies and procedures including but not limited to: record retention policy policies and procedures for scholarships”

Form 990, Page 6, Part VI, Line 11B

“Form 990 reviewed by the director and board treasurer.”

Form 990, Page 6, Part VI, Line 12C

“All board members are required to disclose conflicts of interest each year and abstain from voting in such instances where a conflict exists.”

Form 990, Page 6, Part VI, Line 19

“Information is provided upon request. There may be an administrative fee for copies.”

Filing and Contact Details

Filer

Filer Name
Frisco Education Foundation
EIN
31-1689773
Phone
4696336860
Address
PO BOX 567, FRISCO, TX 75034

Signing Officer

Name
Gary Carley
Title
Teasurer
Phone
4696336860
Signed
2015-11-11

Organization Details

Principal Officer
Gary Carley
Formed
1999
Legal Domicile
TX
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
200

Preparer

Firm
Nabors CPA Services Pc
Address
8765 STOCKARD DRIVE SUITE 404, FRISCO, TX 75034-8007
Preparer
R Wayne Nabors CPA
Phone
9724641226
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,802,462
Liabilities
$350,291
Net assets
$3,452,171
Revenue
$910,157
Expenses
$954,359
Net income
-$44,202
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.73$0.24$5.49$1.44$1.21$0.23
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.00$0.22$4.78$1.08$0.95$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.69$0.22$4.47$1.15$0.95$0.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.93$0.24$4.69$1.03$0.91$0.12
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.47$0.30$4.17$1.07$1.04$0.03
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.19$0.22$3.98$1.12$1.10$0.02
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.24$0.25$4.00$1.21$1.18$0.04
2016Detailed filing. Detailed filing data is available for this year.$3.88$0.26$3.62$1.01$0.85$0.15
2015Detailed filing. Detailed filing data is available for this year.$3.80$0.35$3.45$0.91$0.95$0.04
2014Detailed filing. Detailed filing data is available for this year.$3.87$0.28$3.59$1.82$0.73$1.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.73$0.30$2.43$0.74
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$0.27$2.38$0.65