Lynell Oliver Baker Scholarship Fund Inc
- Assets
- $163.4k
- Revenue
- $29.1k
- Investments
- $155.6k
- Employees
- 0
- Location
- Suffolk, VA
- Founding
- 02/1991
- Data as of
- 07/2021
- EIN
- 54-1521506
Organization Overview
Lynell Oliver Baker Scholarship Fund Inc is located in Suffolk, VA. The organization was established in 1991. 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. Lynell Oliver Baker 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 07/2021, Lynell Oliver Baker Scholarship Fund Inc generated $29.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 38.5% each year . All expenses for the organization totaled $6.5k during the year ending 07/2021. While expenses have increased by 12.2% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO FEMALE GRADUATING SENIORS FROM THE CITY OF SUFFOLK, VIRGINIA PUBLIC SCHOOL SYSTEM WHO HAVE BEEN ACCEPTED TO A COLLEGE OR UNIVERSITY FOR POST SECONDARY STUDY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank A Spady III Treasurer | 0 | $0 | |
Lee Baines Director | 0 | $0 | |
Paige Hill Secretary | 0 | $0 | |
Blair Hines Director | 0 | $0 | |
Lou Ellen Bass Director | 0 | $0 | |
Emily Knick Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $11,578 |
| Interest on Savings | $3 |
| Dividends & Interest | $3,765 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $13,800 |
| Capital Gain Net Income | $13,800 |
| Net ST Capital Gain | $647 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $29,146 |
| 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 | $533 |
| Total operating and administrative expenses | $533 |
| Contributions, gifts, grants paid | $6,000 |
| Total expenses and disbursements | $6,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,868 |
| 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 | $163,434 |
| 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, Lynell Oliver Baker Scholarship Fund Inc has awarded $6,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MICHELA BROWN-MAYFIELD PURPOSE: SCHOLARSHIP TO ASSIST COSTS OF ATTENDING OLD DOMINION UNIVERSITY | $2,000 |
MADISON KENYOU PURPOSE: SCHOLARSHIP TO ASSIST COSTS OF ATTENDING BRIDGEWATER COLLEGE | $2,000 |
ABIGAIL KLUCK PURPOSE: SCHOLARSHIP TO ASSIST COSTS OF ATTENDING VIRGINIA TECH. | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
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 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
Student Freedom Initiative Inc Washington, DC | $132,770,538 | $15,285,825 |
Meor Inc Silver Spring, MD | $283,304 | $5,067,456 |