Achievement Rewards For College Scientists Foundation Inc Orange C
- Assets
- $1.4m
- Revenue
- $53.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 09/1999
- Data as of
- 06/2022
- EIN
- 33-0850655
Organization Overview
Achievement Rewards For College Scientists Foundation Inc Orange C is located in Newport Beach, CA. The organization was established in 1999. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Achievement Rewards For College Scientists Foundation Inc Orange C 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 06/2022, Achievement Rewards For College Scientists Foundation Inc Orange C generated $53.1k 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 (4.9%) each year. All expenses for the organization totaled $111.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. 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
THE ARCS FOUNDATION IS DEDICATED TO HELPING MEET OUR COUNTRY'S NEED FOR SCIENTISTS AND ENGINEERS BY PROVIDING SCHOLARSHIPS TO ACADEMICALLY OUTSTANDING STUDENTS WHO ARE U.S. CITIZENS ATTENDING U.C.- IRVINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION EACH YEAR AWARDS MONETARY SCHOLARSHIPS TO GRADUATE STUDENTS WHO ARE SEEKING ADVANCED DEGREES IN THE ENGINEERING AND SCIENCES FIELDS. THE RECIPIENTS ARE SELECTED BASED ON APPLICATIONS SUBMITTED BY THEM TO THE UC IRVINE FOUNDATION. IN THE 2021/2022 COLLEGE SCHOOL YEAR ARCS AWARDED DOLLARS OF $95,000 AND PLEDGED AN ADDITIONAL $100,000 FOR SCHOLARSHIPS IN THE 2022/2023 ACADEMIC YEAR.
THE ORGANIZATION PRINTS AND DISTRIBUTES TO ITS MEMBERS A NEWSLETTER WHICH COVERS TOPICS RELEVANT TO THE ORGANIZATIONS ACTIVITES. IT ALSO MAINTAINS A WEBSITE TO DISTRIBUTE INFORMATION TO MEMBERS AND SCHOLARSHIP APPLICANTS. THE ORGANIZATION ALSO CONTRIBUTES TO THE NATIONAL OVERSIGHT ORGANIZATION AND PARTICIPATES IN NATIONAL MEETINGS.
DURING THE YEAR THE ORGANIZATION HOSTS SEVERAL EVENTS THAT ARE DESIGNED TO BE EDUCATIONAL AND ENLIGHTING AS TO THE ADVANCES THAT SCIENTISTS ARE MAKING. THE COSTS OF THE EVENTS ARE GENERALLY PAID FOR BY THE ATTENDEES VIA ADMISSION FEES COLLECTED AT THE TIME OF THE EVENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diana Casey Secretary | Trustee | 0 | $0 |
Jackie Rojas Director | Trustee | 0 | $0 |
Chandra Jain Director | Trustee | 0 | $0 |
Anna Chu Co-President | OfficerTrustee | 0 | $0 |
Nan Wu Hultgren Vice President | Trustee | 0 | $0 |
Anna Papio Toda Vice President | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $64,517 |
| Investment income | -$28,134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,665 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,406 |
| Fees for services: Other | $849 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,156 |
| All other expenses | $0 |
| Total functional expenses | $111,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $489 |
| Savings and temporary cash investments | $102,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,291,699 |
| Total assets | $1,394,446 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $150,000 |
| 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 | $0 |
| Total liabilities | $150,000 |
| Net assets without donor restrictions | -$47,479 |
| Net assets with donor restrictions | $1,291,925 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,244,446 |