Eugene Mcdermott Scholars Program Alumni Association
- Assets
- $1.2m
- Revenue
- $45.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 08/2012
- Data as of
- 12/2023
- EIN
- 45-4669259
Organization Overview
Eugene Mcdermott Scholars Program Alumni Association is located in Dallas, TX. The organization was established in 2012. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Eugene Mcdermott Scholars Program Alumni Association 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 12/2023, Eugene Mcdermott Scholars Program Alumni Association generated $45.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $29.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSES OF THE ASSOCIATION ARE (A) TO IMPROVE THE QUALITY OF STUDENT EXPERIENCE BY MENTORING & EMPOWERING FUTURE GENERATIONS OF SCHOLARS (B)TO PROVIDE COMMUNITY & DIRECTION BY ADVISING THE EUGENE MCDERMOTT SCHOLARS PROGRAM, AND (C) TO CONTRIBUTE, IN COLLABORATION WITH THE UNIVERSITY OF TEXAS AT DALLAS'S ALUMNI ASSOCIATION, TO THE PROGRESS & DEVELOPMENT OF THE UNIVERSITY OF TEXAS AT DALLAS & THE GREATER DALLAS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UT DALLAS: EMSPAA PREVIOUSLY COMMITTED ANNUAL GIVING TO THE UNIVERSITY OF TEXAS AT DALLAS IN SUPPORT OF THE CROW MUSEUM AT UT DALLAS. THIS GRANT IS INTENDED TO SUPPORT CROW MUSEUM EDUCATIONAL PROGRAMMING AND OTHER NEEDS DURING THE TRANSITION OF THE CROW COLLECTION TO UT DALLAS, AND FULFILLS EMSPAA'S MISSION OF SUPPORTING THE UNIVERSITY AND THE WIDER DALLAS COMMUNITY.
UT DALLAS: THIS GRANT WAS IN SUPPORT OF THE FUTURE COMETS PROGRAM, A PROGRAM OF THE UT DALLAS MULTICULTURAL CENTER. THE FUTURE COMETS PROGRAM HELPS RISING 8TH GRADE STUDENTS WITH MATH ENRICHMENT CLASSES, LEADERSHIP DEVELOPMENT WORKSHOPS, AND ACTIVITIES DESIGNED TO INTRODUCE STUDENTS TO STEM CAREERS. THIS PROGRAM FULFILLS EMSPAA'S MISSION OF SUPPORTING THE UNIVERSITY AND PROGRAM BY SUPPORTING THE DEVELOPMENT OF EXCELLENT FUTURE APPLICANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lewis Chang President | OfficerTrustee | 6 | $0 |
Grace Mcclure President | OfficerTrustee | 6 | $0 |
Elizabeth Helfrich Secretary | OfficerTrustee | 1 | $0 |
Taylor Davis Secretary | OfficerTrustee | 1 | $0 |
John Davis Treasurer | OfficerTrustee | 1 | $0 |
Robert Janecka Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,294 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,294 |
| Total Program Service Revenue | $0 |
| Investment income | $29,801 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,104 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,385 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,500 |
| 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 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 | $3,305 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,351 |
| 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 | $206 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $29,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,762 |
| Savings and temporary cash investments | $29,883 |
| 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 | $1,075,650 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,153,295 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $1,153,295 |
| Total liabilities and net assets/fund balances | $1,153,295 |
Grants Awarded
Over the last fiscal year, Eugene Mcdermott Scholars Program Alumni Association has awarded $17,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF TEXAS AT DALLAS PURPOSE: THE FUTURE COMETS PROGRAM SUPPORTS THE DEVELOPMENT OF EXCELLENT FUTURE APPLICANTS TO UTD. | $7,500 |
CROW MUSEUM OF ASIAN ART-CROW FAMILY FOUNDATION INC-UNIVERSITY OF TX DALLAS PURPOSE: TO CELEBRATE THE ARTS AND CULTURES OF ASIA | $10,000 |