Frank J Michaels Scholarship Fund
- Assets
- $1.7m
- Revenue
- $60.7k
- Investments
- $1.4m
- Employees
- 0
- Location
- Las Vegas, NV
- Founding
- 04/1982
- Data as of
- 12/2023
- EIN
- 23-6680399
Organization Overview
Frank J Michaels Scholarship Fund is located in Las Vegas, NV. The organization was established in 1982. 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. Frank J Michaels Scholarship Fund 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, Frank J Michaels Scholarship Fund generated $60.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $120.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Frank J Michaels Scholarship Fund has awarded 62 individual grants totaling $313,792. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin R Boynton Stradley Ronon Ste Co-Trustee | 4 | $0 | |
Wells Fargo Bank N A Co-Trustee | 1 | $28,603 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $50,823 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,536 |
| Capital Gain Net Income | $8,536 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,369 |
| Total Revenue | $60,728 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $28,603 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $40,391 |
| Contributions, gifts, grants paid | $79,800 |
| Total expenses and disbursements | $120,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $230,192 |
| 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 | $1,268,073 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,672,096 |
| 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, Frank J Michaels Scholarship Fund has awarded $79,800 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF DELAWARE FBO JOSHUA ARNOLD PURPOSE: SCHOLARSHIP | $10,000 |
KUTZTOWN UNIV FBO ROWEN CANADAY PURPOSE: SCHOLARSHIP | $4,600 |
KUTZTOWN UNIV FBO REILAND CANADAY PURPOSE: SCHOLARSHIP | $4,600 |
THE PENN ST UNIV FBO CHRISTOPHER GOO PURPOSE: SCHOLARSHIP | $4,600 |
WEST CHESTER UNIV FBO ARBOR LLOYD PURPOSE: SCHOLARSHIP | $4,600 |
SPELMAN COLLEGE FBO KAIA HALL PURPOSE: SCHOLARSHIP | $4,600 |