Civic Intelligence

Frisco Education Foundation

990 • Fiscal year 2019 • EIN 31-1689773

Aug 01, 2018 to Jul 31, 2019 • Filed on Nov 18, 2019

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

44th percentile

0.05x

Higher debt load relative to assets than 44% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

65th percentile

0.19x

Higher debt load relative to revenue than 65% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

46th percentile

1.9%

Higher net margin than 46% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

34th percentile

-1.1%

Faster asset growth than 34% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

25th percentile

-7.5%

Faster revenue growth than 25% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets44th percentile

Assets

Down

$4,194,104

Down $47,944 (-1.1%) from 2018

Net Assets

Down

$3,978,417

Down $17,000 (-0.4%) from 2018

Liabilities

Down

$215,687

Down $30,944 (-13%) from 2018

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin46th percentile

Revenue

Down

$1,123,673

Down $90,660 (-7.5%) from 2018

Expenses

Down

$1,102,835

Down $74,115 (-6.3%) from 2018

Net Income

Down

$20,838

Down $16,545 (-44%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2019

Assets$4,194,104
Liabilities$215,687
Net Assets$3,978,417
Open 2019 Filing

Operations Trend

Revenue Growth25th 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

2019

Revenue$1,123,673
Expenses$1,102,835
Net Income$20,838
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Nov 18, 2019
Return Version
2018v3.1
Gross Receipts
$1,165,790
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$3,415,933$3,486,541▲ $70,608
Savings and Temporary Cash Investments$733,145$625,826▼ $107,319
Cash and Non-Interest-Bearing Accounts$89,848$80,133▼ $9,715
Accounts Receivable$2,000--
Pledges and Grants Receivable$1,122$1,604▲ $482
Total Assets$4,242,048$4,194,104▼ $47,944
Liabilities
Other Liabilities$246,631$215,687▼ $30,944
Total Liabilities$246,631$215,687▼ $30,944
Net Assets / Fund Balance
Unrestricted Net Assets$3,995,417$3,978,417▼ $17,000
Total Net Assets Fund Balance$3,995,417$3,978,417▼ $17,000
Total Liabilities and Net Assets / Fund Balance$4,242,048$4,194,104▼ $47,944

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,346,020$82,285▼ $97,200-$2,428,305
2017$2,270,095$75,925▼ $80,400-$2,346,020
2016$2,205,074$65,194▼ $54,800-$2,270,268
2015$2,117,553$87,521▼ $44,500-$2,205,074
2014$2,033,896$156,423▼ $19,766-$2,117,553
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Sunitha CheruvuPresident
Blake HaydonBoard Member
Christal HowardBoard Member
Jody MccaghrenBoard Member
Julie FisherBoard Member
Marie WaltersBoard Member
Mark HillBoard Member
Peter BurnsBoard Member
Renee SampleBoard Member
Steve ElkBoard Member
Tiffany BozemanBoard Member
Wendy GundersonBoard Member
Whitney Brandon FaulknerBoard Member
Cynthia HurleyAssistant Se
Megan Nguyen-trinhAssistant Tr
Geneva PolsterPast Preside
Michael ElmanSecretary
Gary CarleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$981,258
Program Service Revenue
$0
Investment Income
$143,754
Other Revenue
$-1,339
All Other Contributions
$921,258
Change in Net Assets
$20,838

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 Table65,000$65,000
Other Non Cash Contri Table17,492$17,492
Total Noncash Contributions82,492$82,492

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,123,673
Total Revenue per Audited Statements
$1,123,673
Total Revenue per Form 990
$1,123,673
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$809,045
Other Expenses$293,790
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$809,045--$809,045
All Other Expenses$41,594$56,867-$98,461
Other Expenses$26,877$48,124-$26,877
Insurance-$3,605-$3,605
Total Functional Expenses$929,239$173,596$0$1,102,835

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,102,835
Total Expenses per Audited Statements$1,102,835
Total Expenses per Form 990$1,102,835
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$42,117
Fundraising Gross Income$40,778
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gary Burns Fun$100,778$40,778$42,117$-1,339
Total Events$100,778$40,778$42,117$-1,339
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$203,376
Accounts Payable$12,311
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
No
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 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
Treasurer
Phone
4696336864
Signed
2019-11-18

Organization Details

Principal Officer
Gary Carley
Formed
1999
Legal Domicile
TX
Voting Board Members
18
Independent Board Members
18
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

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,194,104
Liabilities
$215,687
Net assets
$3,978,417
Revenue
$1,123,673
Expenses
$1,102,835
Net income
$20,838
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
2019Detailed filing. Detailed filing data is available for this year.$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