Rhinelander Area Scholarship Foundation Inc
- Assets
- $2.1m
- Revenue
- $542.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Rhinelander, WI
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 39-1716463
Organization Overview
Rhinelander Area Scholarship Foundation Inc is located in Rhinelander, WI. The organization was established in 1992. 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. Rhinelander Area 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 12/2021, Rhinelander Area Scholarship Foundation Inc generated $542.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $164.3k during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH AND MAINTAIN IN RHIENLANDER WI AREA A SCHOLARSHIP PROGRAM THAT PROVIDES ACADEMIC AND FINANCIAL AID TO STUDENTS IN HIGHER ED
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, THE FOUNDATION WAS RESPONSIBLE FOR AWARDING 144 SCHOLARSHIPS TO 74 HIGH SCHOOL GRADUATES CONTINUING THEIR HIGHER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanne Stephens Secretary | OfficerTrustee | $0 | |
Randall H Beard Treasurer | OfficerTrustee | $0 | |
Braden Bayne-Allison President | OfficerTrustee | $0 | |
Jennie Jaskie Vice President | OfficerTrustee | $0 | |
Erika Warning-Meyer Board Member | Trustee | $0 | |
Nancy Gehrig Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,253 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $277,378 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $283,631 |
| Total Program Service Revenue | $0 |
| Investment income | $38,541 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $215,757 |
| Net Income from Fundraising Events | $4,963 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $542,892 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $154,858 |
| 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 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,653 |
| Fees for services: Other | $0 |
| 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 | $0 |
| All other expenses | $798 |
| Total functional expenses | $164,309 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,650 |
| Savings and temporary cash investments | $134,968 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,953,864 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,100,482 |
| Accounts payable and accrued expenses | $96,725 |
| 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 | $0 |
| Total liabilities | $96,725 |
| Net assets without donor restrictions | $1,936,851 |
| Net assets with donor restrictions | $66,906 |
| 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 | $2,100,482 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rhinelander Area Scholarship Foundation Inc has recieved totaling $20,093.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $93 |
Endowment Analysis
| Beg. Balance | $59,231 |
| Earnings | $6,175 |
| Grants | $1,500 |
| Ending Balance | $63,906 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |