James R Hoffa Memorial Scholarship Fund Inc
- Assets
- $18.8m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 2
- Location
- Washington, DC
- Founding
- 02/2000
- Data as of
- 12/2021
- EIN
- 52-2206826
Organization Overview
James R Hoffa Memorial Scholarship Fund Inc is located in Washington, DC. The organization was established in 2000. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, James R Hoffa Memorial Scholarship Fund Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. James R Hoffa Memorial 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 12/2021, James R Hoffa Memorial Scholarship Fund Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. 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 AWARD SCHOLARSHIPS TO DEPENDENTS OF TEAMSTERS UNION ACTIVE AND RETIRED MEMBERS IN ORDER TO ENABLE THE RECIPIENTS TO ATTEND ACCREDITED POST-SECONDARY EDUCATIONAL INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO GRANT COLLEGE SCHOLARSHIPS TO QUALIFIED DEPENDENTS OF ACTIVE AND RETIRED MEMBERS OF THE INTERNATIONAL BROTHERHOOD OF TEAMSTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Bell President | OfficerTrustee | 3 | $24,000 |
Neil Ditchek Secretary | OfficerTrustee | 1 | $0 |
Karen Roche Treasurer | OfficerTrustee | 1 | $0 |
Tom Metzinger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,514 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,514 |
| Total Program Service Revenue | $0 |
| Investment income | $581,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $738,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,384,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $973,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $161,500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $24,000 |
| Compensation of current officers, directors, key employees. | $24,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,769 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,390 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $115,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,995 |
| Fees for services: Other | $62,065 |
| Advertising and promotion | $0 |
| Office expenses | $29,893 |
| 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 | $27,870 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,676 |
| All other expenses | $1,332 |
| Total functional expenses | $1,454,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $154,970 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,913 |
| 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 | $105,129 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,549,654 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,084 |
| Total assets | $18,840,750 |
| Accounts payable and accrued expenses | $57,821 |
| Grants payable | $1,287,000 |
| Deferred revenue | $1,800 |
| 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 | $1,346,621 |
| Net assets without donor restrictions | $17,494,129 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $18,840,750 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that James R Hoffa Memorial Scholarship Fund Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Teamsters Joint Council No 25 Charitable Fund Willow Springs, IL PURPOSE: SCHOLARSHIP FUND DONATION | $25,000 |
International Brotherhood Of Teamsters Covina, CA PURPOSE: Donation | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |
Asian And Pacific Islander American Scholarship Fund Washington, DC | $37,686,826 | $13,616,717 |
National Association Of Student Financial Aid Administrators Washington, DC | $22,189,727 | $10,008,615 |
Cobell Board Of Trustees Washington, DC | $177,171,131 | $17,842,265 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |