Civic Intelligence

Henderson County Education Foundation Inc.

990 • Fiscal year 2020 • EIN 58-1734733

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 09, 2020

Organization ProfileWWW.HCEF.INFO
PO Box 1267Hendersonville, NC 28793

(828) 697-5551

Siviq Scores

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

Liabilities / Assets

27th percentile

0.01x

Higher debt load relative to assets than 27% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

31st percentile

0.03x

Higher debt load relative to revenue than 31% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Net Margin

5th percentile

-70%

Higher net margin than 5% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Asset Growth

6th percentile

-21%

Faster asset growth than 6% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

31st percentile

-11%

Faster revenue growth than 31% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$1,113,569

Down $287,888 (-21%) from 2019

Net Assets

Down

$1,099,449

Down $298,375 (-21%) from 2019

Liabilities

Up

$14,120

Up $10,487 (+289%) from 2019

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin5th percentile

Revenue

Down

$438,913

Down $52,171 (-11%) from 2019

Expenses

Up

$745,540

Up $226,361 (+44%) from 2019

Net Income

Down

-$306,627

Down $278,532 (-991%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,275,665Liabilities 2010: $19,221Net Assets 2010: $1,256,4442010Assets 2011: $1,432,224Liabilities 2011: $3,065Net Assets 2011: $1,429,1592011Assets 2012: $1,402,261Liabilities 2012: $4,596Net Assets 2012: $1,397,6652012Assets 2013: $1,468,993Liabilities 2013: $3,287Net Assets 2013: $1,465,7062013Assets 2014: $1,605,108Liabilities 2014: $2,606Net Assets 2014: $1,602,5022014Assets 2015: $1,761,355Liabilities 2015: $2,009Net Assets 2015: $1,759,3462015Assets 2016: $1,681,935Liabilities 2016: $12,161Net Assets 2016: $1,669,7742016Assets 2017: $1,626,221Liabilities 2017: $65,506Net Assets 2017: $1,560,7152017Assets 2018: $1,527,605Liabilities 2018: $80,449Net Assets 2018: $1,447,1562018Assets 2019: $1,401,457Liabilities 2019: $3,633Net Assets 2019: $1,397,8242019Assets 2020: $1,113,569Liabilities 2020: $14,120Net Assets 2020: $1,099,4492020Assets 2021: $1,226,226Liabilities 2021: $24,074Net Assets 2021: $1,202,1522021Assets 2022: $1,174,642Liabilities 2022: $19,375Net Assets 2022: $1,155,2672022Assets 2023: $1,197,428Liabilities 2023: $6,195Net Assets 2023: $1,191,2332023

Highlighted filing

2020

Assets$1,113,569
Liabilities$14,120
Net Assets$1,099,449
Open 2020 Filing

Operations Trend

Revenue Growth31st percentile

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

$1.0M$500K$0-$500KExpenses 2010: $347,1792010Expenses 2011: $346,2652011Expenses 2012: $334,1382012Expenses 2013: $333,6772013Revenue 2014: $467,677Expenses 2014: $396,038Net Income 2014: $71,6392014Revenue 2015: $622,601Expenses 2015: $431,187Net Income 2015: $191,4142015Revenue 2016: $315,554Expenses 2016: $405,940Net Income 2016: -$90,3862016Revenue 2017: $370,291Expenses 2017: $489,330Net Income 2017: -$119,0392017Revenue 2018: $348,961Expenses 2018: $490,453Net Income 2018: -$141,4922018Revenue 2019: $491,084Expenses 2019: $519,179Net Income 2019: -$28,0952019Revenue 2020: $438,913Expenses 2020: $745,540Net Income 2020: -$306,6272020Revenue 2021: $432,723Expenses 2021: $456,816Net Income 2021: -$24,0932021Revenue 2022: $600,776Expenses 2022: $499,919Net Income 2022: $100,8572022Revenue 2023: $602,084Expenses 2023: $597,908Net Income 2023: $4,1762023

Highlighted filing

2020

Revenue$438,913
Expenses$745,540
Net Income-$306,627
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 9, 2020
Return Version
2019v5.0
Gross Receipts
$558,066
Mission and Program Overview

Mission

Enhance the quality of life in henderson county, north carolina by enriching the education of students, teachers, and the local community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$879,992$776,786▼ $103,206
Land, Buildings, and Equipment, Net$285,232$180,072▼ $105,160
Savings and Temporary Cash Investments$168,226$97,209▼ $71,017
Cash and Non-Interest-Bearing Accounts$61,361$45,138▼ $16,223
Accounts Receivable$3,724$9,792▲ $6,068
Prepaid Expenses and Deferred Charges$922$2,572▲ $1,650
Total Assets$1,401,457$1,113,569▼ $287,888
Other Assets Total$2,000$2,000→ $0
Liabilities
Unsecured Notes Loans Payable-$14,120-
Accounts Payable and Accrued Expenses$3,633--
Total Liabilities$3,633$14,120▲ $10,487
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,123,050$944,090▼ $178,960
Net Assets Without Donor Restrictions$274,774$155,359▼ $119,415
Total Net Assets Fund Balance$1,397,824$1,099,449▼ $298,375
Total Liabilities and Net Assets / Fund Balance$1,401,457$1,113,569▼ $287,888

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$101,546$130,577$232,123
Land$77,937-$77,937
Equipment$589$19,963$20,552
Other Land Buildings-$14,672$14,672

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$113,537--$13,510$100,027
2018$113,387$150--$113,537
2017$112,737$650--$113,387
2016$112,737---$112,737
2015$112,487$250--$112,737
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Amy LaughterPresident
Amy JonesDirector
Jennifer BalkcomDirector
Jimmie Lynn WhitmireDirector
Joshua EnglishDirector
Judy Scott EdwardsDirector
Molly Mcgowan GorsuchDirector
Patti BakerDirector
Rebecca LebowitzDirector
Robert MurrayDirector
Susan ThomasDirector
Tim ErtzbergerDirector
Todd GothbergDirector
Jessica CollinsSecretary
Curtis MarkerTreasurer
Darla LindemanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$453,464
Program Service Revenue
$0
Investment Income
$-71,624
Other Revenue
$57,073
All Other Contributions
$421,296
Change in Net Assets
$-306,627
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$567,998
Grants and Similar Amounts Paid$106,586
Salaries, Compensation, and Employee Benefits$70,956
Total Fundraising Expense$28,004
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$106,586--$106,586
Other Salaries and Wages$14,631$29,050$22,632$66,313
All Other Expenses$18,360$4,458$3,787$26,605
Other Expenses$26,428--$26,428
Fees for Services Accounting-$10,150-$10,150
Depreciation Depletion$10,010--$10,010
Fees for Service Investment Mgmnt Fees-$5,606-$5,606
Payroll Taxes$1,024$2,034$1,585$4,643
Fees for Services Other-$2,500-$2,500
Information Technology$2,500--$2,500
Fees for Services Management-$2,344-$2,344
Insurance-$2,165-$2,165
Travel$2,124--$2,124
Office Expenses-$1,370-$1,370
Advertising$1,269--$1,269
Occupancy-$1,100-$1,100
Conferences and Meetings-$378-$378
Total Functional Expenses$656,381$61,155$28,004$745,540
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$60,303
Fundraising Direct Expenses$24,004
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$41,606$31,606$16,273$15,333
Education Celeb$26,147$17,647$6,293$11,354
Total Events$77,716$59,216$24,004$35,212
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
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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

“A copy of form 990 is provided to the board and is reviewed by the executive and finance committees which have been designated by the board to provide oversight authority over the 990 prior to its filing.”

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

“All board members are required to disclose any conflicts of interest that may exist between themselves and the organization. Any conflicts noted are reported, discussed, and any action determined necessary is taken by the executive committee of the board.”

Form 990, Page 6, Part VI, Line 15A

“Compensation for the executive director and other key positions are discussed during the budget development process each year. The compensation ranges for these positions are developed from comparability data available for the type of organization and the geographical area. This information is documented during this process and discussed and agreed upon by the finance committee, executive commitee, and the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“The procedure for other key employees is the same process as noted above.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, financial statements, and form 990 are available for inspection upon request at the foundation's business office during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Henderson County Education
EIN
58-1734733
Phone
8286975551
Address
PO BOX 1267, HENDERSONVILLE, NC 28793

Signing Officer

Name
Summer Stipe
Title
Executive Director
Phone
8286988884
Signed
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Summer Stipe
Formed
1986
Legal Domicile
Nc
Voting Board Members
16
Independent Board Members
16
Employees
3
Volunteers
8

Preparer

Firm
Carland & Andersen Inc
Address
PO BOX 179, HENDERSONVILLE, NC 28793
Preparer
Terry B Andersen CPA
Phone
8286922583
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“General programs-other awards and scholarships, to students, teachers, and graduates of henderson county public schools, to enrich the learning opportunities for students and expenses related to the operation of these programs.”

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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0ENHANCE THE QUALITY OF LIFE IN HENDERSON COUNTY, NORTH CAROLINA BY ENRICHING THE EDUCATION OF STUDENTS, TEACHERS, AND THE LOCAL COMMUNITY.
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IRS990/OccupancyGrp/ManagementAndGeneralAmt01100
IRS990/OccupancyGrp/TotalAmt01100
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01370
IRS990/OfficeExpensesGrp/TotalAmt01370
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt02000
IRS990/OtherAssetsTotalGrp/EOYAmt02000
IRS990/OtherExpensesGrp/Desc0SPONSORED PROGRAMS
IRS990/OtherExpensesGrp/Desc1DISTRIBUTIONS RELATED ORG
IRS990/OtherExpensesGrp/Desc2DONOR PASS THRU PROGRAMS
IRS990/OtherExpensesGrp/Desc3MANAGED PROGRAMS
IRS990/OtherExpensesGrp/ProgramServicesAmt0216111
IRS990/OtherExpensesGrp/ProgramServicesAmt1177366
IRS990/OtherExpensesGrp/ProgramServicesAmt279972
IRS990/OtherExpensesGrp/ProgramServicesAmt326428
IRS990/OtherExpensesGrp/TotalAmt0216111
IRS990/OtherExpensesGrp/TotalAmt1177366
IRS990/OtherExpensesGrp/TotalAmt279972
IRS990/OtherExpensesGrp/TotalAmt326428
IRS990/OtherRevenueMiscGrp/Desc0ADMINISTRATIVE FEES
IRS990/OtherRevenueMiscGrp/Desc1OTHER REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt020549
IRS990/OtherRevenueMiscGrp/ExclusionAmt1225
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1225
IRS990/OtherRevenueTotalAmt020774
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt022632
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt029050
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt014631
IRS990/OtherSalariesAndWagesGrp/TotalAmt066313
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01585
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02034
IRS990/PayrollTaxesGrp/ProgramServicesAmt01024
IRS990/PayrollTaxesGrp/TotalAmt04643
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0922
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02572
IRS990/PrincipalOfficerNm0SUMMER STIPE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0HCEF SPRING FUND, FORMERLY "THE SPECIAL FUND FOR CHILDREN" WAS ESTABLISHED TO PROVIDE SUPPORT FOR CHILDREN'S NEEDS NOT OTHERWISE MET BY THE SCHOOL SYSTEM. SPRING FUNDS ARE PROVIDED ANNUALLY TO PRINCIPALS AT EACH OF THE SCHOOLS IN THE DISTRICT TO MEET THE DAY-TO-DAY EMERGENCIES AND OTHER NEEDS OF THE MOST VULNERABLE CHILDREN IN THE SYSTEM.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt023000
IRS990/ProgSrvcAccomActy3Grp/Desc0THE LEADER IN ME IS FRANKLIN COVEY'S WHOLE SCHOOL TRANSFORMATION PROCESS. IT TEACHES 21ST CENTURY LEADERSHIP AND LIFE SKILLS TO STUDENTS AND CREATES A CULTURE OF STUDENT EMPOWERMENT BASED ON THE IDEA THAT EVERY CHILD CAN BE A LEADER.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0134731
IRS990/ProgSrvcAccomActyOtherGrp/Desc0GENERAL PROGRAMS-OTHER AWARDS AND SCHOLARSHIPS, TO STUDENTS, TEACHERS, AND GRADUATES OF HENDERSON COUNTY PUBLIC SCHOOLS, TO ENRICH THE LEARNING OPPORTUNITIES FOR STUDENTS AND EXPENSES RELATED TO THE OPERATION OF THESE PROGRAMS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0489939
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt0106586
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0376939
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0151784
IRS990/PYInvestmentIncomeAmt033994
IRS990/PYOtherExpensesAmt0301118
IRS990/PYOtherRevenueAmt048269
IRS990/PYProgramServiceRevenueAmt031882
IRS990/PYRevenuesLessExpensesAmt0-28095
IRS990/PYSalariesCompEmpBnftPaidAmt066277
IRS990/PYTotalExpensesAmt0519179
IRS990/PYTotalRevenueAmt0491084
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-306627
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0168226
IRS990/SavingsAndTempCashInvstGrp/EOYAmt097209
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0470,153
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0453464
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0376939
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0223640
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0256798
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0227612
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01538453
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt023525
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt025893
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt092519
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt099912
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt087723
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0256798
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0227612
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01538453
IRS990ScheduleA/TotalSupportAmt02110314
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0101546
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0130577
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0232123
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IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0100027
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt013510
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0113387
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0150
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0113537
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0112737
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0650
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0113387

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,113,569
Liabilities
$14,120
Net assets
$1,099,449
Revenue
$438,913
Expenses
$745,540
Net income
-$306,627
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$1.20$0.01$1.19$0.60$0.60$0.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.02$1.16$0.60$0.50$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.23$0.02$1.20$0.43$0.46$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.11$0.01$1.10$0.44$0.75$0.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.40$0.00$1.40$0.49$0.52$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.53$0.08$1.45$0.35$0.49$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$0.07$1.56$0.37$0.49$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.68$0.01$1.67$0.32$0.41$0.09
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.76$0.00$1.76$0.62$0.43$0.19
2014Detailed filing. Detailed filing data is available for this year.$1.61$0.00$1.60$0.47$0.40$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$0.00$1.47$0.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.00$1.40$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.00$1.43$0.35
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$0.02$1.26$0.35