Ron Brown Scholar Fund
- Assets
- $20.9m
- Revenue
- $3.6m
- Investments
- $19.6m
- Employees
- 20
- Location
- Charlottesville, VA
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 54-1832314
Organization Overview
Ron Brown Scholar Fund is located in Charlottesville, VA. The organization was established in 2014. 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 12/2022, Ron Brown Scholar Fund employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ron Brown Scholar Fund 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, Ron Brown Scholar Fund generated $3.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $4.0m during the year ending 12/2022. While expenses have increased by 8.3% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE RON BROWN SCHOLAR PROGRAM IS TO ACCELERATE THE PROGRESS OF AFRICAN AMERICANS INTO THE MAINSTREAM OF LEADERSHIP IN BUSINESS, EDUCATION, GOVERNMENT, AND A WIDE SPECTRUM OF PROFESSIONS WHILE INSTILLING A STRONG DEDICATION TO LEADERSHIP AND PUBLIC SERVICE.
Describe the Organization's Program Activity:
SCHOLARSHIP GRANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael A Mallory President & CEO | Officer | 40 | $310,353 |
Vanessa Evans Asst Secretary | Officer | 40 | $228,613 |
Dane Holmes Trusteechairman | Trustee | 0 | $0 |
Jordan Goldberg Treasurer | Trustee | 0 | $0 |
Nicole Bates Chair | Trustee | 0 | $0 |
Brian Siegal Secretary | Trustee | 0 | $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 | $3,166,045 |
| Noncash contributions included in lines 1a–1f | $96,287 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,166,045 |
| Total Program Service Revenue | $0 |
| Investment income | $457,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,637,027 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,148,869 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $570,307 |
| Compensation of current officers, directors, key employees. | $137,163 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $774,305 |
| Pension plan accruals and contributions | $38,145 |
| Other employee benefits | $162,981 |
| Payroll taxes | $85,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $401 |
| Fees for services: Accounting | $112,499 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,974 |
| Fees for services: Other | $112,007 |
| Advertising and promotion | $40,736 |
| Office expenses | $135,474 |
| Information technology | $25,752 |
| Royalties | $0 |
| Occupancy | $42,337 |
| Travel | $337,377 |
| 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 | $1,678 |
| All other expenses | $36,674 |
| Total functional expenses | $3,994,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,983 |
| Savings and temporary cash investments | $1,026,731 |
| Pledges and grants receivable | $196,667 |
| 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 | $0 |
| Investments—other securities | $19,590,360 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,903,741 |
| Accounts payable and accrued expenses | $68,277 |
| Grants payable | $866,918 |
| 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 | $344,583 |
| Total liabilities | $1,279,778 |
| Net assets without donor restrictions | $15,084,057 |
| Net assets with donor restrictions | $4,539,906 |
| 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 | $20,903,741 |