Hillsborough Education Foundation Inc

Nonprofit profile at a glance

EIN
592883361
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Tampa, FL, USA
Phone
8135740260
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$11,664,130
Expenses
$11,101,539
Assets
$12,592,599
Liabilities
$1,657,416

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • Anna Corman (President, CEO)

Highest reported compensation

  • Anna Corman (President, CEO): $188,307 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To ensure every student in Hillsborough County receives an outstanding public education that equips them for a fulfilling future.

What it reported doing in 2024

- The foundation's Tech Connect program helps to close opportunity gaps and increases access in education for students by providing technology resources for family ownership, access to Wi-Fi, and digital literacy skills training. In 2024-2025, 876 students were served through the program.- Hillsborough Education Foundation launched its TELI (Transforming Early Literacy Initiative) program in 2023, and now, in its third year, TELI has provided 12,480 hours of coaching and professional development to teachers, with 82% of teachers reporting increased student participation in literacy activities. TELI is designed to improve literacy education in early grade levels, reaching students in a critical time of their educational journey. - Hillsborough Education Foundation expanded its College and Career Readiness program to five schools, providing 1,464 students with personal guidance and resources to help them plan for life beyond high school. Over 3,200 students were impacted through college visits, career chats and informational workshops, gaining real-world insights into a variety of career paths. The College and Career Readiness program helped 86% of participating students make positive progress in their post-secondary decision making.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 83
  • Accountability: 98
  • Sustainability: 54
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: $28.29 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.7%; rating input score 97; 30th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.8%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 1.13; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 92.7% of spending went to programs
  • Governance: 29 of 30 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $10.3M in reported program spending
  • Leadership: top reported pay $188K · 30 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Sustainability: Operating margin scored 53/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.