Joe Francis Haircare Scholarship Foundation
- Assets
- $1.4m
- Revenue
- $84.5k
- Investments
- $1.3m
- Employees
- 0
- Location
- Cottage Grove, MN
- Founding
- 08/1995
- Data as of
- 12/2021
- EIN
- 41-1778518
Organization Overview
Joe Francis Haircare Scholarship Foundation is located in Cottage Grove, MN. The organization was established in 1995. 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. Joe Francis Haircare 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 12/2021, Joe Francis Haircare Scholarship Foundation generated $84.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $67.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Joe Francis Haircare Scholarship Foundation has awarded 107 individual grants totaling $171,300. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HELP DESERVING STUDENTS RECEIVE FINANCIAL ASSISTANCE FOR THE PROFESSIONAL TRAINING NECESSARY TO BUILD SUCCESSFUL, LONG-TERM CAREERS IN THE COSMETOLOGY INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Florence Francis Chairman | 1 | $0 | |
Deborah Hardwick Director | 1 | $0 | |
Barb Francis President | 1 | $0 | |
Kim Larson Secretary | 10 | $0 | |
Jeanne Francis Dietrich Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,550 |
| Interest on Savings | $0 |
| Dividends & Interest | $12,239 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,246 |
| Capital Gain Net Income | $20,246 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,500 |
| Total Revenue | $84,535 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $16,824 |
| Total operating and administrative expenses | $22,924 |
| Contributions, gifts, grants paid | $45,000 |
| Total expenses and disbursements | $67,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,950 |
| Savings and temporary cash investments | $0 |
| 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 | $825,683 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,377,923 |
| 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, Joe Francis Haircare Scholarship Foundation has awarded $45,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BETHANY MEADOWS PURPOSE: FINANCIAL ASSISTANCE TO COMPLETE COSMETOLOGY EDUCATION | $3,000 |
UZMA MUNIR PURPOSE: FINANCIAL ASSISTANCE TO COMPLETE COSMETOLOGY EDUCATION | $3,000 |
JELANA BOLDEN PURPOSE: FINANCIAL ASSISTANCE TO COMPLETE COSMETOLOGY EDUCATION | $3,000 |
LOGAN BAYUK PURPOSE: FINANCIAL ASSISTANCE TO COMPLETE COSMETOLOGY EDUCATION | $3,000 |
TAYLOR DAVIS PURPOSE: FINANCIAL ASSISTANCE TO COMPLETE COSMETOLOGY EDUCATION | $3,000 |
SHEILA SLAPPY-WORMACK PURPOSE: FINANCIAL ASSISTANCE TO COMPLETE COSMETOLOGY EDUCATION | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |
Peo Sisterhood International Chapter Des Moines, IA | $85,884,604 | $5,248,161 |
Herb Kohl Educational Foundation Inc Milwaukee, WI | $133,385 | $3,506,418 |
Valley Senior Living Grand Forks, ND | $804,854 | $3,496,436 |
Ab Nicholas Scholarship Foundation Mequon, WI | $58,753,687 | $6,013,180 |
Hemophilia Outreach Of Wisconsin Inc Green Bay, WI | $38,605,342 | $5,343,718 |
C H Robinson Worldwide Foundation Sioux Falls, SD | $19,568,040 | $4,443,280 |
Delta Dental Of Wisconsin Foundation Inc Stevens Point, WI | $16,778,803 | $4,566,346 |