Civic Intelligence

Chelsea Education Foundation

990 • Fiscal year 2023 • EIN 38-2953926

Sep 01, 2022 to Aug 31, 2023 • Filed on Mar 06, 2024

P O Box 281Chelsea, MI 48118

(269) 369-3972

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

36th percentile

-1.8%

Higher net margin than 36% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

43rd percentile

1.0%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

92nd percentile

118%

Faster revenue growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$798,082

Up $8,053 (+1.0%) from 2022

Net Assets

Up

$798,082

Up $8,053 (+1.0%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Up

$159,887

Up $86,573 (+118%) from 2022

Expenses

Up

$162,806

Up $41,428 (+34%) from 2022

Net Income

Up

-$2,919

Up $45,145 (+94%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $503,448Net Assets 2010: $503,4482010Assets 2011: $572,982Liabilities 2011: $0Net Assets 2011: $572,9822011Assets 2012: $588,296Liabilities 2012: $0Net Assets 2012: $588,2962012Assets 2013: $675,945Liabilities 2013: $0Net Assets 2013: $675,9452013Assets 2014: $767,889Liabilities 2014: $0Net Assets 2014: $767,8892014Assets 2015: $721,537Liabilities 2015: $0Net Assets 2015: $721,5372015Assets 2016: $745,849Liabilities 2016: $0Net Assets 2016: $745,8492016Assets 2017: $791,126Liabilities 2017: $0Net Assets 2017: $791,1262017Assets 2018: $822,026Liabilities 2018: $0Net Assets 2018: $822,0262018Assets 2019: $824,720Liabilities 2019: $0Net Assets 2019: $824,7202019Assets 2020: $847,220Liabilities 2020: $0Net Assets 2020: $847,2202020Assets 2021: $935,520Liabilities 2021: $0Net Assets 2021: $935,5202021Assets 2022: $790,029Liabilities 2022: $0Net Assets 2022: $790,0292022Assets 2023: $798,082Liabilities 2023: $0Net Assets 2023: $798,0822023Assets 2024: $905,214Liabilities 2024: $0Net Assets 2024: $905,2142024

Highlighted filing

2023

Assets$798,082
Liabilities$0
Net Assets$798,082

Operations Trend

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

$200K$100K$0-$100KRevenue 2010: $43,249Expenses 2010: $65,957Net Income 2010: -$22,7082010Expenses 2011: $55,2792011Expenses 2012: $65,0902012Revenue 2013: $161,223Expenses 2013: $66,210Net Income 2013: $95,0132013Revenue 2014: $101,194Expenses 2014: $64,665Net Income 2014: $36,5292014Revenue 2015: $26,229Expenses 2015: $72,580Net Income 2015: -$46,3512015Revenue 2016: $102,175Expenses 2016: $77,863Net Income 2016: $24,3122016Revenue 2017: $101,897Expenses 2017: $56,620Net Income 2017: $45,2772017Revenue 2018: $110,630Expenses 2018: $79,730Net Income 2018: $30,9002018Revenue 2019: $105,741Expenses 2019: $103,047Net Income 2019: $2,6942019Revenue 2020: $125,294Expenses 2020: $102,794Net Income 2020: $22,5002020Revenue 2021: $183,457Expenses 2021: $95,157Net Income 2021: $88,3002021Revenue 2022: $73,314Expenses 2022: $121,378Net Income 2022: -$48,0642022Revenue 2023: $159,887Expenses 2023: $162,806Net Income 2023: -$2,9192023Revenue 2024: $141,331Expenses 2024: $169,124Net Income 2024: -$27,7932024

Highlighted filing

2023

Revenue$159,887
Expenses$162,806
Net Income-$2,919
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Mar 6, 2024
Return Version
2022v5.0
Gross Receipts
$165,093
Mission and Program Overview

Mission

Enhancing educational opportunities to community

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$694,556$705,380▲ $10,824
Cash and Non-Interest-Bearing Accounts$38,061$34,464▼ $3,597
Total Assets$790,029$798,082▲ $8,053
Other Assets Total$57,412$58,238▲ $826
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$758,130$761,297▲ $3,167
Net Assets With Donor Restrictions$31,899$36,785▲ $4,886
Total Net Assets Fund Balance$790,029$798,082▲ $8,053
Total Liabilities and Net Assets / Fund Balance$790,029$798,082▲ $8,053

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$58,238--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$57,412-▲ $3,752-$58,238
2022$66,756$199▼ $6,720-$57,412
2021$55,817-▲ $12,443-$66,756
2020$54,660-▲ $5,083-$55,817
2019$56,067-▲ $1,233-$54,660
Compensation and Service Providers

Board Members and Trustees

NameTitle
Amy ForehandPresident
Angila ChapmanMember
Beka AlterMember
Frank GrohnertMember
Jane DiesingMember
John DalyMember
Katie HeplerMember
Matt CEOMember
Nicole DarbyMember
Sandy LantisMember
Sarah ButtonMember
Wendy ZielenMember
Lynn FoxMember-nonvo
Mike KapolkaMember-nonvo
Patrick RobertsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$102,884
Program Service Revenue
$0
Investment Income
$8,107
Other Revenue
$48,896
All Other Contributions
$102,884
Change in Net Assets
$-2,919

Audited Revenue Reconciliation

Revenue per Audited Statements
$151,634
Revenue Not Reported on Financial Statements
$8,253
Revenue Not Reported on Form 990
$10,518
Total Revenue per Audited Statements
$162,152
Total Revenue per Form 990
$159,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$97,000
Other Expenses$65,806
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$49,700--$49,700
Grants to Domestic Individuals$47,300--$47,300
Advertising-$21,001-$21,001
Other Expenses-$5,751-$5,751
Fees for Services Accounting-$5,200-$5,200
Office Expenses-$1,731-$1,731
All Other Expenses-$811-$811
Insurance-$279-$279
Conferences and Meetings-$123-$123
Total Functional Expenses$97,000$65,806$0$162,806

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$162,806
Expenses per Audited Statements$154,553
Total Expenses per Audited Statements$154,553
Expenses Not Reported on Financial Statements$8,253
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chelsea District SchoolsChelsea, MIGovTeacher Grants$49,700
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$50,224
Fundraising Direct Expenses$5,206
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Rivalry Match$50,224$50,224$5,206$45,018
Total Events$50,224$50,224$5,206$45,018
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
No
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

Treasurer first reviews draft from cpa. Board reviews later before it is filed.

Form 990, Page 6, Part VI, Line 19

Documents, such as the 990 and audited, reviewed, unaudited financial statements or quickbook reports, are available upon request.

Filing and Contact Details

Filer

Filer Name
Chelsea Education Foundation
EIN
38-2953926
Phone
2693693972
Address
P O BOX 281, CHELSEA, MI 48118

Signing Officer

Name
Patrick Roberts
Title
Treasurer
Phone
2693693972
Signed
2024-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Forehand
Formed
1990
Legal Domicile
Mi
Voting Board Members
12
Independent Board Members
14
Employees
0
Volunteers
35

Preparer

Firm
Berthiaume & Company Cpas
Address
60 HARROW LN, SAGINAW, MI 48638
Preparer
Kenneth a Berthiaume
Phone
9897911555
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

ROUNDING 0

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Distribution, if any, from endowment funds are used for the organizations charitable purpose and mission. The community foundation of southeast michigan (cfsem) has two endowment funds for the benefit of chelsea education foundation. (cef) one of these funds was created by a reciprocal transfer from cef in a prior year. This fund is an asset of cfsem with an offsetting liability for the cef beneficial interest. Cef reports this beneficial interest in this fund as an asset. A second endowment at cfsem was created to accept third party contributions into an endowment for the benefit of cef. This fund is an asset of cfsem without an offsetting liability. The fund is not an asset of cef.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ENDOWMENT FUND - CFSEM
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DISTRIBUTION, IF ANY, FROM ENDOWMENT FUNDS ARE USED FOR THE ORGANIZATIONS CHARITABLE PURPOSE AND MISSION. THE COMMUNITY FOUNDATION OF SOUTHEAST MICHIGAN (CFSEM) HAS TWO ENDOWMENT FUNDS FOR THE BENEFIT OF CHELSEA EDUCATION FOUNDATION. (CEF) ONE OF THESE FUNDS WAS CREATED BY A RECIPROCAL TRANSFER FROM CEF IN A PRIOR YEAR. THIS FUND IS AN ASSET OF CFSEM WITH AN OFFSETTING LIABILITY FOR THE CEF BENEFICIAL INTEREST. CEF REPORTS THIS BENEFICIAL INTEREST IN THIS FUND AS AN ASSET. A SECOND ENDOWMENT AT CFSEM WAS CREATED TO ACCEPT THIRD PARTY CONTRIBUTIONS INTO AN ENDOWMENT FOR THE BENEFIT OF CEF. THIS FUND IS AN ASSET OF CFSEM WITHOUT AN OFFSETTING LIABILITY. THE FUND IS NOT AN ASSET OF CEF.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TEACHER GRANTS
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IRS990ScheduleI/RecipientTable/USAddress/CityNm0CHELSEA
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TREASURER FIRST REVIEWS DRAFT FROM CPA. BOARD REVIEWS LATER BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS, SUCH AS THE 990 AND AUDITED, REVIEWED, UNAUDITED FINANCIAL STATEMENTS OR QUICKBOOK REPORTS, ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ROUNDING 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9
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IRS990/TotalContributionsAmt0102884

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.05$0.00$9.05$1.41$1.69$0.28
2023Detailed filing. Detailed filing data is available for this year.$7.98$0.00$7.98$1.60$1.63$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.90$0.00$7.90$0.73$1.21$0.48
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.36$0.00$9.36$1.83$0.95$0.88
2020Detailed filing. Detailed filing data is available for this year.$8.47$0.00$8.47$1.25$1.03$0.23
2019Detailed filing. Detailed filing data is available for this year.$8.25$0.00$8.25$1.06$1.03$0.03
2018Detailed filing. Detailed filing data is available for this year.$8.22$0.00$8.22$1.11$0.80$0.31
2017Summary only. Only limited summary data is available for this year.$7.91$0.00$7.91$1.02$0.57$0.45
2016Detailed filing. Detailed filing data is available for this year.$7.46$0.00$7.46$1.02$0.78$0.24
2015Detailed filing. Detailed filing data is available for this year.$7.22$0.00$7.22$0.26$0.73$0.46
2014Detailed filing. Detailed filing data is available for this year.$7.68$0.00$7.68$1.01$0.65$0.37
2013Detailed filing. Detailed filing data is available for this year.$6.76$0.00$6.76$1.61$0.66$0.95
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.88$0.00$5.88$0.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.73$0.00$5.73$0.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.03$5.03$0.43$0.66$0.23