Pickett & Hatcher Educational Fund Incorporated
- Assets
- $61.7m
- Revenue
- $2.9m
- Investments
- $33.2m
- Employees
- 0
- Location
- Columbus, GA
- Founding
- 03/2018
- Data as of
- 09/2022
- EIN
- 58-0566216
Organization Overview
Pickett & Hatcher Educational Fund Incorporated is located in Columbus, GA. The organization was established in 2018. 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. Pickett & Hatcher Educational Fund Incorporated 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 09/2022, Pickett & Hatcher Educational Fund Incorporated generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $844.9k during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 6 years. 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 Program Activity:
THE EDUCATIONAL FUND GRANTS EDUCATIONAL ASSISTANCE IN THE FORM OF LOW INTEREST LOANS TO COLLEGE STUDENTS WHO MEET CRITERIA. INTEREST IS 2% WHILE THE STUDENTS ARE IN SCHOOL, AND 6% AFTER GRADUATION, WHEN PRINCIPAL PAYMENTS BEGIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Flournoy President/treasurer | 40 | $145,000 | |
Donna S Hand Director | 1 | $8,000 | |
Frank D Brown Vice Chairman | 1 | $8,000 | |
Anne H Mathews Secretary | 1 | $8,000 | |
William B Hardegree III Director | 1 | $8,000 | |
Margaret G Zollo Chairman Of The Board | 1 | $8,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,057,256 |
| Dividends & Interest | $693,252 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,230,184 |
| Capital Gain Net Income | $1,230,184 |
| Net ST Capital Gain | $0 |
| Income Modifications | $4,617,644 |
| Profit on Inventory Sales | $0 |
| Other Income | -$69,212 |
| Total Revenue | $2,911,480 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $201,000 |
| Other employee salaries and wages | $199,644 |
| Pension plans, employee benefits | $73,399 |
| Interest | $0 |
| Taxes | $63,173 |
| Depreciation | $11,169 |
| Occupancy | $69,437 |
| Travel, conferences, and meetings | $5,318 |
| Printing and publications | $5,334 |
| Other expenses | $126,798 |
| Total operating and administrative expenses | $844,859 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $844,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149 |
| Savings and temporary cash investments | $4,298,873 |
| Net Accounts receivable | $106,260 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $24,045,529 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,767 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $12,675 |
| Other assets | $0 |
| Total assets | $61,724,699 |
| Accounts payable and accrued expenses | $16,260 |
| 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 | $15,874 |
| Total liabilities | $32,134 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |