American Foreign Service Association Scholarship Fund
- Assets
- $15.6m
- Revenue
- $539.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 10/1972
- Data as of
- 12/2022
- EIN
- 23-7045244
Organization Overview
American Foreign Service Association Scholarship Fund is located in Washington, DC. The organization was established in 1972. 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. American Foreign Service Association 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 12/2022, American Foreign Service Association Scholarship Fund generated $539.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $582.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE NEED BASED SCHOLARSHIPS & ACADEMIC & MERIT AWARDS FOR FOREIGN SERVICE HIGH SCHOOL SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: THE AFSA SCHOLARSHIP PROGRAM OFFERS COLLEGE AID TO CHILDREN OF AFSA MEMBERS WHOS PARENTS ARE/WERE FOREIGN SERVICE EMPLOYEES. WE PROVIDE FINANCIAL AID SCHOLARSHIPS TO UNDERGRADUATES AND ACADEMIC MERIT AWARDS, ART MERIT AWARDS, AND A COMMUNITY SERVICE AWARD TO GRADUATING HIGH SCHOOL SENIORS. THE ABOVE ACTIVITIES COULD NOT HAPPEN WITHOUT THE GENEROUS BEQUESTS AND DONATIONS FROM THOSE IN THE FOREIGN SERVICE COMMUNITY. NO AFSA MEMBERSHIP DUES ARE USED IN THE AFSA SCHOLARSHIP PROGRAM. THIS ROBUST AFSA MEMBER BENEFIT HAS DISBURSED MORE THAN $4.9 MILLION TO 2,500 STUDENTS IN THE LAST 28 YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Asegir Sigfusson Executive Director | Officer | 5 | $0 |
Femi Oshobukola Director Of Finance | Officer | 5 | $0 |
Eric Rubin President | OfficerTrustee | 5 | $0 |
Thomas Yazdgerdi State Vice President | OfficerTrustee | 5 | $0 |
Jason Singer Usaid Vice President | OfficerTrustee | 5 | $0 |
Charles Ranado Fcs Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $97,759 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $97,759 |
| Total Program Service Revenue | $0 |
| Investment income | $269,070 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $172,232 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,061 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $326,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $22,117 |
| Compensation of current officers, directors, key employees. | $20,860 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $107,621 |
| Pension plan accruals and contributions | $4,154 |
| Other employee benefits | $723 |
| Payroll taxes | $9,066 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,878 |
| Fees for services: Other | $15,705 |
| Advertising and promotion | $0 |
| Office expenses | $5,546 |
| Information technology | $6,388 |
| Royalties | $0 |
| Occupancy | $5,064 |
| Travel | $283 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,989 |
| Insurance | $1,651 |
| All other expenses | $257 |
| Total functional expenses | $582,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $882,803 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $129,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,553,751 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,009,993 |
| Total assets | $15,575,557 |
| Accounts payable and accrued expenses | $12,935 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,100,874 |
| Total liabilities | $4,113,809 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $11,461,748 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,575,557 |