Bettye Reed Scholarship Foundation Inc
- Assets
- $549.3k
- Revenue
- $37.5k
- Investments
- $528.4k
- Employees
- 0
- Location
- Rome, GA
- Founding
- 10/2005
- Data as of
- 12/2023
- EIN
- 20-1692503
Organization Overview
Bettye Reed Scholarship Foundation Inc is located in Rome, GA. The organization was established in 2005. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bettye Reed Scholarship Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Bettye Reed Scholarship Foundation Inc generated $37.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $49.4k during the year ending 12/2023. While expenses have increased by 12.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger L Mitchell President | 10 | $5,400 | |
Richard J Inman Jr Vice President | 1 | $0 | |
Robert T Masters Secretary/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,531 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,969 |
| Capital Gain Net Income | $19,969 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $37,500 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $463 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,207 |
| Total operating and administrative expenses | $17,366 |
| Contributions, gifts, grants paid | $32,000 |
| Total expenses and disbursements | $49,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,361 |
| Savings and temporary cash investments | $18,588 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $549,299 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Bettye Reed Scholarship Foundation Inc has awarded $32,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
ADDISON E ORR PURPOSE: SCHOLARSHIP | $2,000 |
MARK VAN LEUVEN PURPOSE: SCHOLARSHIP | $2,000 |
ADRIEL KERSHNER PURPOSE: SCHOLARSHIP | $3,500 |
GRANT TAYLOR PURPOSE: SCHOLARSHIP | $3,500 |
LUKE MITCHELL PURPOSE: SCHOLARSHIP | $3,500 |
RALEIGH MITCHELL PURPOSE: SCHOLARSHIP | $3,500 |