Civic Intelligence

Laredo College Education Foundation

990 • Fiscal year 2023 • EIN 94-3421360

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 23, 2024

Organization Profilewww.laredo.edu/lc-educational-foundation/about.html
West End Washington StreetLaredo, TX 78041

(956) 721-5812

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

3rd percentile

-282%

Higher net margin than 3% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

6th percentile

-71%

Faster asset growth than 6% of similar nonprofits.

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

Revenue Growth

36th percentile

-7.2%

Faster revenue growth than 36% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$412,515

Down $1,016,303 (-71%) from 2022

Net Assets

Down

$412,515

Down $1,016,303 (-71%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin3rd percentile

Revenue

Down

$361,139

Down $27,958 (-7.2%) from 2022

Expenses

Up

$1,380,378

Up $1,028,421 (+292%) from 2022

Net Income

Down

-$1,019,239

Down $1,056,379 (-2844%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $502,796Liabilities 2010: $0Net Assets 2010: $502,7962010Assets 2011: $406,856Liabilities 2011: $0Net Assets 2011: $406,8562011Assets 2012: $389,060Liabilities 2012: $0Net Assets 2012: $389,0602012Assets 2013: $599,348Liabilities 2013: $0Net Assets 2013: $599,3482013Assets 2015: $729,488Liabilities 2015: $0Net Assets 2015: $729,4882015Assets 2016: $759,313Liabilities 2016: $0Net Assets 2016: $759,3132016Assets 2017: $784,059Liabilities 2017: $0Net Assets 2017: $784,0592017Assets 2018: $382,740Liabilities 2018: $0Net Assets 2018: $382,7402018Assets 2019: $583,385Liabilities 2019: $0Net Assets 2019: $583,3852019Assets 2020: $1,309,468Liabilities 2020: $0Net Assets 2020: $1,309,4682020Assets 2021: $1,390,522Liabilities 2021: $0Net Assets 2021: $1,390,5222021Assets 2022: $1,428,818Liabilities 2022: $0Net Assets 2022: $1,428,8182022Assets 2023: $412,515Liabilities 2023: $0Net Assets 2023: $412,5152023Assets 2024: $327,800Liabilities 2024: $0Net Assets 2024: $327,8002024

Highlighted filing

2023

Assets$412,515
Liabilities$0
Net Assets$412,515
Open 2023 Filing

Operations Trend

Revenue Growth36th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $234,3672010Expenses 2011: $522,5022011Expenses 2012: $377,0872012Revenue 2013: $362,739Expenses 2013: $155,644Net Income 2013: $207,0952013Revenue 2015: $214,306Expenses 2015: $164,161Net Income 2015: $50,1452015Revenue 2016: $308,048Expenses 2016: $283,402Net Income 2016: $24,6462016Revenue 2017: $215,444Expenses 2017: $190,321Net Income 2017: $25,1232017Revenue 2018: $23,553Expenses 2018: $482,654Net Income 2018: -$459,1012018Revenue 2019: $223,119Expenses 2019: $25,448Net Income 2019: $197,6712019Revenue 2020: $1,115,106Expenses 2020: $387,092Net Income 2020: $728,0142020Revenue 2021: $231,803Expenses 2021: $152,447Net Income 2021: $79,3562021Revenue 2022: $389,097Expenses 2022: $351,957Net Income 2022: $37,1402022Revenue 2023: $361,139Expenses 2023: $1,380,378Net Income 2023: -$1,019,2392023Revenue 2024: $423,570Expenses 2024: $511,245Net Income 2024: -$87,6752024

Highlighted filing

2023

Revenue$361,139
Expenses$1,380,378
Net Income-$1,019,239
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 23, 2024
Return Version
2023v5.0
Gross Receipts
$361,139
Mission and Program Overview

Mission

To support and promote for the use and benefit of laredo college and literary, scientific, education or cultural undertakings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,413,122$393,883▼ $1,019,239
Investments in Publicly Traded Securities$15,696$18,632▲ $2,936
Total Assets$1,428,818$412,515▼ $1,016,303
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,313,126$280,876▼ $1,032,250
Net Assets Without Donor Restrictions$115,692$131,639▲ $15,947
Total Net Assets Fund Balance$1,428,818$412,515▼ $1,016,303
Total Liabilities and Net Assets / Fund Balance$1,428,818$412,515▼ $1,016,303
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Kenneth SchmiesPresident
Antoinette VelaTrustee
Carlos D GarciaTrustee
Eduardo GonzalezTrustee
Edward C SherwoodTrustee
Guillermo Cavazos JrTrustee
Junita LiraTrustee
Millie B SlaughterTrustee
Yu-hsien Huang DelrioTrustee
Lucina S HastingsSecretary
John R CampbellTreasurer
Guadalupe AlvarezVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$348,241
Program Service Revenue
$0
Investment Income
$12,898
Other Revenue
$0
All Other Contributions
$348,241
Change in Net Assets
$-1,019,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,380,378
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$1,355,180--$1,355,180
Fees for Services Other$2,206$22,992-$25,198
Total Functional Expenses$1,357,386$22,992$0$1,380,378
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
No
Audit committee
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
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 and prepared financial statements are presented to the full board at one of its quarterly meetings.”

Form 990, Page 6, Part VI, Line 19

“NEWSPAPER NOTICE”

Filing and Contact Details

Filer

Filer Name
Lcc Education Foundation
EIN
94-3421360
Phone
9567215812
Address
WEST END WASHINGTON STREET, LAREDO, TX 78041
Doing Business As
Laredo College Education Foundation

Signing Officer

Name
Kenneth Schmies
Title
President
Phone
9567215812
Signed
2024-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Schmies
Formed
2001
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Gonzalez & Costilla Cpas Pc
Address
602 E CALTON RD STE 4, LAREDO, TX 78041
Preparer
Mario Gonzalez Jr CPA
Phone
9567120303
Supplemental Narrative

Additional Explanations

Form 990, Part III

“Schedule o - additional information - program services laredo community college 1,357,386”

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

“To assist the students of laredo college by providing fellowships and scholarships for worthy, needy and deserving students; to provide the means for improvement in instruction and equipment available to the students; and to finance those things necessary or appropriate to building an educational institution of excellence.”

Form 990, Part XI, Line 9

“Increase in value of stock 2,936”

Raw XML Appendix327 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SCHEDULE O - ADDITIONAL INFORMATION - PROGRAM SERVICES LAREDO COMMUNITY COLLEGE 1,357,386
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO ASSIST THE STUDENTS OF LAREDO COLLEGE BY PROVIDING FELLOWSHIPS AND SCHOLARSHIPS FOR WORTHY, NEEDY AND DESERVING STUDENTS; TO PROVIDE THE MEANS FOR IMPROVEMENT IN INSTRUCTION AND EQUIPMENT AVAILABLE TO THE STUDENTS; AND TO FINANCE THOSE THINGS NECESSARY OR APPROPRIATE TO BUILDING AN EDUCATIONAL INSTITUTION OF EXCELLENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 AND PREPARED FINANCIAL STATEMENTS ARE PRESENTED TO THE FULL BOARD AT ONE OF ITS QUARTERLY MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NEWSPAPER NOTICE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INCREASE IN VALUE OF STOCK 2,936
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01428818
IRS990/TotalAssetsEOYAmt0412515
IRS990/TotalAssetsGrp/BOYAmt01428818
IRS990/TotalAssetsGrp/EOYAmt0412515
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0348241
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022992
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01357386
IRS990/TotalFunctionalExpensesGrp/TotalAmt01380378
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01428818
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0412515
IRS990/TotalOtherProgSrvcExpenseAmt01357386
IRS990/TotalProgramServiceExpensesAmt01357386
IRS990/TotalRevenueGrp/ExclusionAmt012898
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0361139
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01428818
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0412515
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNETH SCHMIES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09567215812
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LCC EDUCATION FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0LCCE
ReturnHeader/Filer/EIN0943421360
ReturnHeader/Filer/PhoneNum09567215812
ReturnHeader/Filer/USAddress/AddressLine1Txt0WEST END WASHINGTON STREET
ReturnHeader/Filer/USAddress/CityNm0LAREDO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078041
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0462594885
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GONZALEZ & COSTILLA CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0602 E CALTON RD STE 4
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAREDO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078041
ReturnHeader/PreparerPersonGrp/PhoneNum09567120303
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARIO GONZALEZ JR CPA
ReturnHeader/ReturnTs02024-11-04T18:41:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$412,515
Liabilities
$0
Net assets
$412,515
Revenue
$361,139
Expenses
$1,380,378
Net income
-$1,019,239
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.42$0.51$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.36$1.38$1.02
2022Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$0.39$0.35$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.23$0.15$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.31$0.00$1.31$1.12$0.39$0.73
2019Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$0.22$0.03$0.20
2018Summary only. Only limited summary data is available for this year.$0.38$0.00$0.38$0.02$0.48$0.46
2017Summary only. Only limited summary data is available for this year.$0.78$0.00$0.78$0.22$0.19$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$0.31$0.28$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$0.21$0.16$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.36$0.16$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.00$0.39$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.00$0.41$0.52
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.00$0.50$0.23