Founders Scholarship Fund Inc
- Assets
- $158.4k
- Revenue
- $518.0
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 04/2012
- Data as of
- 12/2022
- EIN
- 45-4713485
Organization Overview
Founders Scholarship Fund Inc is located in Norfolk, VA. The organization was established in 2012. 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. Founders Scholarship Fund 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 12/2022, Founders Scholarship Fund Inc generated $518.0 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 (49.7%) each year. All expenses for the organization totaled $31.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Founders Scholarship Fund Inc has awarded 21 individual grants totaling $287,574. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP - FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory S Lee Executive Director | 0.5 | $0 | |
Cecil L Achord Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $500 |
| Interest on Savings | $18 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $518 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,200 |
| Contributions, gifts, grants paid | $30,149 |
| Total expenses and disbursements | $31,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $158,381 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $158,381 |
| 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, Founders Scholarship Fund Inc has awarded $30,149 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MIKAHLYNN PAGE PURPOSE: SCHOLARSHIP - FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION AT JAMES MADISON UNIVERSITY | $18,845 |
META BRADLEY PURPOSE: SCHOLARSHIP - FINANCIAL ASSISTANCE FOR POST-SECONDARY EDUCATION AT UNIVERSITY OF HAWAII AT MANOA | $11,304 |