Nonprofit · EIN 75-2401624
MCKINNEY EDUCATION FOUNDATION
Tax-exempt · MCKINNEY, TX 75069
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,553,186 | $1,647,466 | $905,720 | $15,530,777 | $1,732,242 | $13,798,535 |
| June 30, 2024 | 990 | $1,585,642 | $1,758,665 | -$173,023 | $14,250,175 | $2,417,347 | $11,832,828 |
| June 30, 2023 | 990 | $1,202,471 | $1,242,480 | -$40,009 | $12,683,758 | $1,416,955 | $11,266,803 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,249,732
- Program service revenue
- $0
- Investment income
- $319,037
- Net gain from sales of assets
- $29,025
- Net income from fundraising events
- -$35,409
- Net income from gaming
- $4,330
- Other revenue
- -$15,583
Expenses
- Grants and similar amounts paid
- $800,041
- Compensation of officers, directors and key employees
- $161,529
- Other salaries and wages
- $388,090
- Salaries, compensation and benefits (total)
- $615,342
- Professional fundraising fees
- $0
- Accounting fees
- $85,600
- Travel
- $40
- Depreciation
- $4,179
- Program services (functional)
- $1,238,976
- Management and general (functional)
- $299,946
- Fundraising (functional)
- $108,544
Balance sheet and other
- Total assets, start of year
- $14,250,175
- Total assets, end of year
- $15,530,777
- Total liabilities, end of year
- $1,732,242
- Net assets, end of year
- $13,798,535
- Land, buildings and equipment
- $7,025
- Publicly traded securities
- $14,548,726
- Net assets without donor restrictions
- $537,743
- Net assets with donor restrictions
- $13,260,792
- Gross receipts
- $3,838,869
- Employees
- 9
- Volunteers
- 100
- Year formed
- 1991
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHEILA DUE | CEO Officer | 40 | $144,500 | $4,335 |
| CAROLYN BROOKS | VP-DEVELOPMENT Trustee or director, Officer | 2 | $0 | $0 |
| MARK KEVER | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 |
| JANETTE JOHANSON | INT. VP OF FIN. Trustee or director, Officer | 2 | $0 | $0 |
| LUCAS HENRY | VP AT LARGE Trustee or director, Officer | 2 | $0 | $0 |
| DENISE HOLTHAUS | Director Trustee or director | 2 | $0 | $0 |
| TONY CARVER | Director Trustee or director | 2 | $0 | $0 |
| SUSAN HYKEL | Director Trustee or director | 2 | $0 | $0 |
| MEGAN GALLEGOS | Director Trustee or director | 2 | $0 | $0 |
| TODD WEISHAAR | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| KIP DIXON | Chairman Trustee or director, Officer | 2 | $0 | $0 |
| SARA HASSLER | Director Trustee or director | 2 | $0 | $0 |
| TERRI SPRIESTER | VP-ADMIN Trustee or director, Officer | 2 | $0 | $0 |
| DON HAUGH | Director Trustee or director | 2 | $0 | $0 |
| CHRISTIE RHYNE | Director Trustee or director | 2 | $0 | $0 |
990 for the year ended June 30, 2024: 17 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHEILA DUE-FROM 92023 | CEO Officer | 40 | $36,667 |
| CAROLYN BROOKS | VP-DEVELOPMENT Trustee or director, Officer | 2 | $0 |
| MARK KEVER | VICE CHAIRMAN Trustee or director, Officer | 2 | $0 |
| JOHN KERBY | INT. VP OF FIN. Trustee or director, Officer | 2 | $0 |
| LUCAS HENRY | VP AT LARGE Trustee or director, Officer | 2 | $0 |
| DENISE HOLTHAUS | Director Trustee or director | 2 | $0 |
| JANETTE JOHANSON | VP OF EDUCATION Trustee or director, Officer | 2 | $0 |
| ANGIE BADO | Director Trustee or director | 2 | $0 |
| SUSAN HYKEL | Director Trustee or director | 2 | $0 |
| ROB CAILLET | Director Trustee or director | 2 | $0 |
| MEGAN GALLEGOS | Director Trustee or director | 2 | $0 |
| TODD WEISHAAR | Secretary Trustee or director, Officer | 2 | $0 |
| KIP DIXON | Chairman Trustee or director, Officer | 2 | $0 |
| SARA HASSLER | Director Trustee or director | 2 | $0 |
| TERRI SPRIESTER | VP-ADMIN Trustee or director, Officer | 2 | $0 |
| DON HAUGH | Director Trustee or director | 2 | $0 |
| CHRISTIE RHYNE | Director Trustee or director | 2 | $0 |
990 for the year ended June 30, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ASHLEY SINE | Executive Dir. Officer | 40 | $91,688 | $2,751 |
| CAROLYN BROOKS | VP-DEVELOPMENT Trustee or director, Officer | 2 | $0 | $0 |
| KAMI IRVIN | Director Trustee or director | 2 | $0 | $0 |
| JOE ELLENBURG | Director Trustee or director | 2 | $0 | $0 |
| KATHRYN LEWIS | Director Trustee or director | 2 | $0 | $0 |
| DENISE HOLTHAUS | Director Trustee or director | 2 | $0 | $0 |
| JANETTE JOHANSON | Director Trustee or director | 2 | $0 | $0 |
| CASSIDI ROBERTS | Director Trustee or director | 2 | $0 | $0 |
| RYAN PITTMAN | Director Trustee or director | 2 | $0 | $0 |
| JENNIFER POTTER | Director Trustee or director | 2 | $0 | $0 |
| ROB MOORE | President Trustee or director, Officer | 2 | $0 | $0 |
| TODD WEISHAAR | VP-ADMIN. Trustee or director, Officer | 2 | $0 | $0 |
| KIP DIXON | VP-EDUCATION Trustee or director, Officer | 2 | $0 | $0 |
| RACHEL LOPEZ | Director Trustee or director | 2 | $0 | $0 |
| PAUL MERRITT | VP-FINANCE Trustee or director, Officer | 2 | $0 | $0 |
| TERRI SPRIESTER | Director Trustee or director | 2 | $0 | $0 |
| ROB NELSON | Director Trustee or director | 2 | $0 | $0 |
| CHRISTIE RHYNE | Director Trustee or director | 2 | $0 | $0 |
| SHEILA DUE-FROM 92023 | CEO Officer | 40 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 510 HEARD ST, MCKINNEY, TX 75069-2749
- In care of
- % MARGARET HARSCH
- Principal officer (990 for 2024)
- SHEILA DUE, 510 HEARD STREET, MCKINNEY, TX 75069
- Signed the 990
- SHEILA DUE, CEO
- Phone
- (469) 302-6313
- Website
- WWW.MCKINNEYEF.ORG
- Return prepared by
- Sutton Frost Cary LLP
Mission
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
Program accomplishments
- Scholarships Awarded: This program assists students in attending post-secondary programs at higher education institutions. In 2024-2025, $722,223 in scholarships was awarded. Classroom and Professional Development Grants: The McKinney ISD and McKinney community support this program. $77,818 total was funded for our teachers in 2024-2025. 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.Expenses $1,238,976 · grants $800,041
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 75-2401624
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1994
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B820)
- Assets (IRS master file)
- $15,530,777
- Income (IRS master file)
- $3,838,869
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,553,186 | $1,647,466 | $15,530,777 | IRS |
| 990 | June 2024 | $1,585,642 | $1,758,665 | $14,250,175 | IRS |
| 990 | June 2023 | $1,202,471 | $1,242,480 | $12,683,758 | IRS |
| 990 | June 2022 | $1,500,466 | $1,379,548 | $11,866,191 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 75-2401624).
Questions about MCKINNEY EDUCATION FOUNDATION
- What is the EIN of MCKINNEY EDUCATION FOUNDATION?
- The employer identification number (EIN) of MCKINNEY EDUCATION FOUNDATION is 75-2401624.
- Is MCKINNEY EDUCATION FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1994.
- Are donations to MCKINNEY EDUCATION FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MCKINNEY EDUCATION FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MCKINNEY EDUCATION FOUNDATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MCKINNEY EDUCATION FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MCKINNEY EDUCATION FOUNDATION?
- The 990 for the year ended June 30, 2025 names SHEILA DUE.
- Who are the officers and directors of MCKINNEY EDUCATION FOUNDATION?
- The 990 for the year ended June 30, 2025 lists 15 people; 1 received compensation from the organization, the highest $144,500 (SHEILA DUE, CEO).
- How much revenue does MCKINNEY EDUCATION FOUNDATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,553,186, expenses of $1,647,466 and total assets of $15,530,777 at year end.
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