2025-05-13T14:48:15-07:00 2024-06-30 752593210 Sutton Frost Cary LLP 200 E Front St Suite 200 Arlington TX 76011 990 2023-07-01 752401624 MCKINNEY EDUCATION FOUNDATION MCKI 4693026313 510 HEARD STREET MCKINNEY TX 75069 SHEILA DUE CEO 2025-05-13 true true Carroll Elizabeth Arnott P01965628 8176498083 2023 2025-03-06 01:10:19Z SHEILA DUE 3185985 false X WWW.MCKINNEYEF.ORG X 1991 TX To inspire and assist McKinney ISD students and teachers toward excellence and make a difference in a child's life through education. Any operating deficits are offset by donor-restricted endowment earnings and used to support operations. 16 16 11 100 0 1026799 1406626 0 200167 171601 -24495 7415 1202471 1585642 586164 898579 0 496772 551382 0 128792 159544 308704 1242480 1758665 -40009 -173023 12683758 14250175 1416955 2417347 11266803 11832828 To inspire and assist McKinney ISD students and teachers toward excellence and make a difference in a child's life through education. Although the Form 990 may reflect an operating deficit for the year ended June 30, 2024, this variance is offset by donor-restricted endowment earnings that were approved for release and used to support operations within the same fiscal year. As such, the reported deficit does not reflect a cash shortfall or structural financial imbalance.During FYE 2024, the Foundation transferred monies from endowment earnings to support its mission as follows: $175,000 to cover costs of College Advisors under the Dream Builders Program $143,622 to cover endowment management fees (assessed at 1.6% of the endowment fund balance) $669,700 for scholarships $99,504 for classroom and program grantsThese distributions were approved in accordance with the Foundations endowment spending policy and represent the purposeful use of donor-restricted funds.As a result, what may app false false 1398980 898579 Scholarships Awarded: This program assists students in attending post-secondary programs at higher education institutions. In 2023-2024, $799,075 in scholarships was awarded. Classroom and Professional Development Grants: The McKinney ISD and McKinney community support this program. $99,504 total was funded for our teachers in 2023-2024. College Advisor Program Dream Builder donors support this program. The college advisors are placed on the three McKinney high schools full-time to assist students and families with navigating the college and financial aid process. 1398980 true true false false false false false false false true true false false false true true true false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false true 5 0 true 11 true false false false false false true true false 0 false false false false false false false X 16 16 false false false false false false false true true false false true true true true true true true true false X FINANCIAL AFFAIRS 8178548283 510 HEARD STREET MCKINNEY TX 75069 SHEILA DUE-FROM 92023 CEO 40.00 0.00 X 36667 0 0 CAROLYN BROOKS VP-DEVELOPMENT 2.00 0.00 X X 0 0 0 MARK KEVER VICE CHAIRMAN 2.00 0.00 X X 0 0 0 JOHN KERBY INT. VP OF FIN. 2.00 0.00 X X 0 0 0 LUCAS HENRY VP AT LARGE 2.00 0.00 X X 0 0 0 DENISE HOLTHAUS Director 2.00 0.00 X 0 0 0 JANETTE JOHANSON VP OF EDUCATION 2.00 0.00 X X 0 0 0 ANGIE BADO Director 2.00 0.00 X 0 0 0 SUSAN HYKEL Director 2.00 0.00 X 0 0 0 ROB CAILLET Director 2.00 0.00 X 0 0 0 MEGAN GALLEGOS Director 2.00 0.00 X 0 0 0 TODD WEISHAAR Secretary 2.00 0.00 X X 0 0 0 KIP DIXON Chairman 2.00 0.00 X X 0 0 0 SARA HASSLER Director 2.00 0.00 X 0 0 0 TERRI SPRIESTER VP-ADMIN 2.00 0.00 X X 0 0 0 DON HAUGH Director 2.00 0.00 X 0 0 0 CHRISTIE RHYNE Director 2.00 0.00 X 0 0 0 36667 0 false false false 0 163317 1243309 1406626 0 249449 249449 0 0 0 1445190 1523038 -77848 -77848 -77848 24356 163317 77305 -52949 -52949 0 0 other income 900099 60364 60364 60364 1585642 60364 118652 0 898579 898579 0 0 121390 121390 0 357984 238737 47699 71548 5129 3251 751 1127 33998 25498 3400 5100 32881 24661 3288 4932 0 0 21795 21795 0 0 65081 65081 71381 53558 7131 10692 10722 3860 6540 322 572 206 349 17 6268 6080 188 0 0 11028 3970 6727 331 0 0 0 0 3428 3428 1757 70 1687 MISCELLANEOUS 58111 4647 53464 FUNDRAISING EXPENSES 33976 33976 BAD DEBT 5850 5850 DUES AND SUBSCRIPTIONS 5253 2942 2311 13482 8103 4632 747 1758665 1398980 230893 128792 341744 685257 11848 11848 92975 39154 0 0 0 0 0 27106 48601 47617 36413 8593 11204 12201492 13454111 0 0 0 0 12683758 14250175 1028888 2141371 1941 125684 386126 150292 1416955 2417347 X 1324276 504607 9942527 11328221 11266803 11832828 12683758 14250175 -173023 1119939 -380891 X false false false X 714221 911501 1428252 1102399 1406626 5562999 0 0 714221 911501 1428252 1102399 1406626 5562999 485413 5077586 215248 154350 182105 225697 249449 1026849 0 148127 60364 208491 6798339 0.74690 0.79250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8006338 492442 1291540 898579 65081 8826660 7123907 155701 1371510 586164 58616 8006338 9188888 155582 -1649335 502667 68561 7123907 8713383 446098 629553 539837 60309 9188888 8002706 710677 8713383 0.89000 0.11000 false false false 47617 36413 11204 11204 SCHOLARSHIPS PAYABLE 150292 150292 X 2707149 1119939 66649 1186588 1520561 65081 65081 1585642 1760233 66649 66649 1693584 65081 65081 1758665 Part V, Line 4: Intended uses of the endowment fund. During FYE 2024, the Foundation transferred monies from endowment earnings to support its mission as follows: $175,000 to cover costs of College Advisors under the Dream Builders Program $143,622 to cover endowment management fees (assessed at 1.6% of the endowment fund balance) $669,700 for scholarships $99,504 for classroom and program grantsThese distributions were approved in accordance with the Foundations endowment spending policy and represent the purposeful use of donor-restricted funds.As a result, what may appear on the Form 990 as an operating deficit is not indicative of a financial shortfall, but rather the timing and classification of restricted asset activity released for mission-aligned expenses. Part X : FIN48 Footnote The Foundation is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code (IRC) and has not been classified as a private foundation as defined in the IRC. Income generated from activities unrelated to the Foundations exempt purposes is subject to tax under IRC Section 511. The Foundation had no unrelated business income for the year ended June 30, 2024. Accordingly, no provision has been made for federal income tax.GAAP requires the evaluation of tax positions taken in the course of preparing the Foundations tax returns and recognition of a tax liability (or asset) if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Foundation, and has concluded that as of June 30, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. false PURSES WITH PURPOSE 187673 163317 24356 24356 52949 187673 163317 24356 24356 52949 77305 -52949 true 0 0 GRANTS 46 99504 SCHOLARSHIPS 345 799075 Grantmaker's Description of How Grants are Used THE ORGANIZATION KEEPS RECORDS OF APPLICATIONS RECEIVED, AWARDS GRANTED AND THE AMOUNT OF EACH AWARD. Form 990, Part VI, Section B, Line 11b THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO FILING. Form 990, Part VI, Section B, Line 12c ANNUALLY, THE BOARD OF DIRECTORS ARE REQUIRED TO NOTIFY THE BOARD IF ANY CONFLICT OF INTEREST ARISES. Form 990, Part VI, Section B, Line 15a THE EXECUTIVE DIRECTOR'S PERFORMANCE IS REVIEWED BY THE HUMAN RESOURCES COMMITTEE AND THE EXECUTIVE COMMITTEE TO DETERMINE COMPENSATION. Form 990, Part VI, Section B, Line 15b KEY EMPLOYEE PERFORMANCE IS REVIEWED BY THE EXECUTIVE DIRECTOR TO DETERMINE COMPENSATION. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAINTAINS A BINDER WHICH CONTAINS THE BY-LAWS, POLICIES, GOVERNING DOCUMENTATION, AND FINANCIAL STATEMENTS THAT ARE AVAILABLE ON-SITE AT THE ADMINISTRATIVE OFFICES. FORM 990, PART VIII INCOME FROM FUNDRAISING EVENTS The net economic benefit from our fundraising events is calculated as follows:Contributions from fundraising events reported on Part VIII, line 1c $ 163,317Gross income from fundraising events reported on Part VIII, line 8a 24,356Less: Direct costs of events reported on part VIII, Line 8b (77,305) Net economic benefit of fundraising events $ 110,368