Bernie L Bates Foundation Inc
- Assets
- $451.2k
- Revenue
- $156.5k
- Investments
- $346.7k
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 08/2001
- Data as of
- 12/2023
- EIN
- 54-1752985
Organization Overview
Bernie L Bates Foundation Inc is located in Alexandria, VA. The organization was established in 2001. 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. Bernie L Bates Foundation 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 12/2023, Bernie L Bates Foundation Inc generated $156.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $123.1k during the year ending 12/2023. While expenses have increased by 11.2% per year over the past 5 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION AWARDS SCHOLARSHIPS TO COLLEGE BOUND STUDENTS AND COLLEGE STUDENTS; SPONSORS AND SUPPORTS COMMUNITY BASED ORGANIZATIONS AND SCHOOLS FOCUSED ON EDUCATIONAL ACTIVITIES AND QUALITY OF LIFE IMPROVEMENTS. FOUNDATION SUPPORTS FOOD BANKS AND COMMUNITY ACTIVITIES SUCH AS TALENT ENRICHMENT, COLLEGE PREPARATION PROGRAMS, AND SUPPORT AND MENTOR YOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP RECIPIENTS: CAMRON JACKSON-BERKLEE SCHOOL OF MUSIC-$5,000; KATELYNN PARK-BROWN UNIVERSITY-$4,000;IAN MCDANIELS-CORNELL UNIVERSITY-$3,500;BELEN TELAHUN-UNIV OF MARY WASHINGTON-$2,500; KAILAH AUGUSTINE-VIRGINIA COMMONWEALTH UNIV-$2,500; MAY BENTLEY-UNIV OF MIAMI-$2,000; BHARGAV VENKATA-UNIV OF VIRGINIA-$2,000; DARYN DICKENS-HOWARD UNIV-$2,000; ELLIAS AWEL-VIRGINIA COMMONWEALTH UNIV-$2,000; HENRY DAVIS-JONES-SAVANNAH COLLEGE OF ART AND DESIGN-$2,000; KAMRYN SHULER-VIRGINIA COMMONWEALTH UNIV-$2,000; KELVIN ROBINSON-HAMPTON UNIV-$2,000; MARCUS BAILEY, JR.-NC A&T UNIV-$2,000; MARIAMAWIT EZECHIE-GEORGE MASON UNIV-$2,000; RONALD WOODS-URSINUS COLLEGE-$2,000; YORDANOS HAILU-NORTHERN VIRGINIA COMM COLLEGE-$2,000; ELAINE RANSON-SPELMAN COLLEGE-$1,000
OTHER PROGRAM SERVICES
SCHOLARSHIP RECIPIENTS: CAMRON JACKSON-BERKLEE SCHOOL OF MUSIC-$5,000; KATELYNN PARK-BROWN UNIVERSITY-$4,000;IAN MCDANIELS-CORNELL UNIVERSITY-$3,500;BELEN TELAHUN-UNIV OF MARY WASHINGTON-$2,500; KAILAH AUGUSTINE-VIRGINIA COMMONWEALTH UNIV-$2,500; MAY BENTLEY-UNIV OF MIAMI-$2,000; BHARGAV VENKATA-UNIV OF VIRGINIA-$2,000; DARYN DICKENS-HOWARD UNIV-$2,000; ELLIAS AWEL-VIRGINIA COMMONWEALTH UNIV-$2,000; HENRY DAVIS-JONES-SAVANNAH COLLEGE OF ART AND DESIGN-$2,000; KAMRYN SHULER-VIRGINIA COMMONWEALTH UNIV-$2,000; KELVIN ROBINSON-HAMPTON UNIV-$2,000; MARCUS BAILEY, JR.-NC A&T UNIV-$2,000; MARIAMAWIT EZECHIE-GEORGE MASON UNIV-$2,000; RONALD WOODS-URSINUS COLLEGE-$2,000; YORDANOS HAILU-NORTHERN VIRGINIA COMM COLLEGE-$2,000; ELAINE RANSON-SPELMAN COLLEGE-$1,000
OTHER PROGRAM SERVICES
SOCIAL ACTION AND COMMUNITY SUPPORT: READING FOR SUCCESS-$300; COMMUNITY RECOGNITION-$2500; FAIRFAX COUNTY FOSTER CARE-$1,800; COLUMBIA TRAINING CENTER-$3,260; GHANA BOREHOLES-WATER FOR LIFE-$4,000; GUM SPRINGS AND FORT BELVIOR (CHRISTMAS AND THANKSGIVING DONATIONS)-$290; STUDENT AWARDS PROGRAM-$6,915; MANUP MENTORING PROGRAM-$2,220; PRIVILEGE AWARD-$8729; GEORGE MASON UNIVERSITY FOUNDATION-$1,000
SOCIAL ACTION AND COMMUNITY SUPPORT: READING FOR SUCCESS-$300; COMMUNITY RECOGNITION-$2500; FAIRFAX COUNTY FOSTER CARE-$1,800; COLUMBIA TRAINING CENTER-$3,260; GHANA BOREHOLES-WATER FOR LIFE-$4,000; GUM SPRINGS AND FORT BELVIOR (CHRISTMAS AND THANKSGIVING DONATIONS)-$290; STUDENT AWARDS PROGRAM-$6,915; MANUP MENTORING PROGRAM-$2,220; PRIVILEGE AWARD-$8729; GEORGE MASON UNIVERSITY FOUNDATION-$1,000
TALENT HUNT AWARDS: CAMRON JACKSON-$1,000; NOAH TAJUDEEN-$500; CHRISTOPHER JACKSON-$250; CHAMIR YARBOROUGH-$250; AZARLYA BATES-$50; ALAYSHIA SPEARS-$50
TALENT HUNT AWARDS: CAMRON JACKSON-$1,000; NOAH TAJUDEEN-$500; CHRISTOPHER JACKSON-$250; CHAMIR YARBOROUGH-$250; AZARLYA BATES-$50; ALAYSHIA SPEARS-$50
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Chisolm President | OfficerTrustee | 4 | $0 |
Hector Sheppard Jr Vice President | OfficerTrustee | 4 | $0 |
Kenneth M Younger Secretary | OfficerTrustee | 6 | $0 |
Jeffrey L Owens Treasurer | OfficerTrustee | 6 | $0 |
Kerry Bell Assistant Treasurer | OfficerTrustee | 4 | $0 |
Bradford M Caldwell Assistant Secretary | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $2,427 |
| Membership dues | $0 |
| Fundraising events | $87,901 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $146,916 |
| Total Program Service Revenue | $0 |
| Investment income | $9,580 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $156,496 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| Grants and other assistance to domestic individuals. | $108,237 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $115 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,660 |
| Office expenses | $4,131 |
| Information technology | $5,925 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $400 |
| All other expenses | $634 |
| Total functional expenses | $123,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,139 |
| Savings and temporary cash investments | $7,161 |
| 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 | $56,147 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $346,748 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $451,195 |
| 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 | $130,000 |
| Total liabilities | $130,000 |
| Net assets without donor restrictions | $321,195 |
| 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 | $451,195 |