New Orphan Asylum Scholarship Foundation
- Assets
- $2.3m
- Revenue
- $70.5k
- Investments
- $2.2m
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 09/1942
- Data as of
- 12/2022
- EIN
- 31-0536683
Organization Overview
New Orphan Asylum Scholarship Foundation is located in Cincinnati, OH. The organization was established in 1942. 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. New Orphan Asylum Scholarship Foundation 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, New Orphan Asylum Scholarship Foundation generated $70.5k 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 (4.4%) each year. All expenses for the organization totaled $166.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, New Orphan Asylum Scholarship Foundation has awarded 234 individual grants totaling $848,496. 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 |
|---|---|---|---|
Louis Patrick President | 0.25 | $0 | |
Rico Rice Vice President | 0.25 | $0 | |
Lawrence Cain Jr Secretary | 0.25 | $0 | |
Mesha Holloway Trustee | 0.25 | $0 | |
Laurie Stevens Executive Director | 0.25 | $16,007 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $21,497 |
| Dividends & Interest | $49,248 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$232 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $70,513 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $16,007 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,082 |
| Depreciation | $0 |
| Occupancy | $4,480 |
| Travel, conferences, and meetings | $4,395 |
| Printing and publications | $0 |
| Other expenses | $4,804 |
| Total operating and administrative expenses | $63,466 |
| Contributions, gifts, grants paid | $102,526 |
| Total expenses and disbursements | $165,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,921 |
| Savings and temporary cash investments | $124,161 |
| 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 | $81 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,938 |
| Total assets | $2,337,111 |
| 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, New Orphan Asylum Scholarship Foundation has awarded $102,526 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
BOWLING GREEN STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $4,123 |
ALABAMA A&M UNIVERSITY PURPOSE: SCHOLARSHIP | $3,023 |
COLLEGE OF COASTAL GEORGIA PURPOSE: SCHOLARSHIP | $3,023 |
COLUMBUS COLLEGE OF ART & DESIGN PURPOSE: SCHOLARSHIP | $1,100 |
COLUMBIA COLLEGE CHICAGO PURPOSE: SCHOLARSHIP | $3,023 |
GEORGETOWN COLLEGE PURPOSE: SCHOLARSHIP | $4,123 |