Achievement Rewards For College Scientists Foundation Inc
- Assets
- $1.5m
- Revenue
- $454.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 08/1992
- Data as of
- 06/2021
- EIN
- 58-2004368
Organization Overview
Achievement Rewards For College Scientists Foundation Inc is located in Atlanta, GA. The organization was established in 1992. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, 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. Achievement Rewards For College Scientists 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 06/2021, Achievement Rewards For College Scientists Foundation Inc generated $454.8k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $416.6k during the year ending 06/2021. 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
ARCS FOUNDATION ADVANCES SCIENCE AND TECHNOLOGY IN THE UNITED STATES BY PROVIDING FINANCIAL AWARDS TO ACADEMICALLY OUTSTANDING U.S. CITIZENS STUDYING TO COMPLETE DEGREES IN SCIENCE, ENGINEERING, AND MEDICAL RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 57 SCHOLAR AWARDS TO STUDENT SCIENTISTS: UNIVERSITY OF GEORGIA, GEORGIA TECH, EMORY UNIVERSITY, AND MOREHOUSE COLLEGE.
ANNUAL SCHOLAR AWARDS LUNCHEON TO RECONGNIZE AND HONOR THE SCHOLARS THAT ARE AWARDED CHAPTER SCHOLARSHIPS. THE LUNCHEON ALSO PROVIDES A FORUM FOR MEMBERS TO INTRODUCE PROSPECTIVE MEMBERS TO THE MISSON OF ARCS.
OTHER - NATIONAL ASSOCIATION DUES (EXPENSE)/LOCAL ATLANTA CHAPTER DUES (REVENUE)
OTHER PROGRAM SERVICE EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Petter President | OfficerTrustee | 20 | $0 |
Mary Justice Assistant Treasurer | OfficerTrustee | 5 | $0 |
Lisa Bankoff VP Finance /treasurer | OfficerTrustee | 15 | $0 |
Carolyn Copper Co-Vp University Relations | OfficerTrustee | 2 | $0 |
Janis Henry Recording Secretary | OfficerTrustee | 2 | $0 |
Caroline Hardin VP Funds Development | OfficerTrustee | 5 | $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 | $343,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $343,701 |
| Total Program Service Revenue | $92,330 |
| Investment income | $22,515 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,716 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $454,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $344,500 |
| 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 | $1,373 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,174 |
| Fees for services: Other | $27,575 |
| Advertising and promotion | $151 |
| Office expenses | $714 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,745 |
| All other expenses | $1,728 |
| Total functional expenses | $416,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520,458 |
| Savings and temporary cash investments | $128,188 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $834,846 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,483,492 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,483,492 |
| 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 | $1,483,492 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Achievement Rewards For College Scientists Foundation Inc has recieved totaling $37,325.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: EDUCATION | $31,275 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $6,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Alumni Association Inc Atlanta, GA | $3,190,672 | $7,936,222 |
General Alumni Assoc Chapel Hill, NC | $118,995,183 | $8,416,070 |
University Of Alabama Alumni Assoc Alumni Hall Tuscaloosa, AL | $63,747,922 | $7,156,369 |
North Carolina State University Alumni Association Raleigh, NC | $63,898,145 | $4,644,432 |
University Of South Carolina Alumni Association Columbia, SC | $23,424,726 | $5,528,924 |
University Of Florida Alumni Association Inc Gainesville, FL | $0 | $2,776,539 |
University Of South Florida Alumni Association Inc Tampa, FL | $10,823,849 | $2,834,575 |
Florida State University Alumni Association Tallahassee, FL | $5,180,580 | $3,503,983 |
Clemson Alumni Association Clemson, SC | $16,585,557 | $2,139,290 |
Duke Alumni Association Inc Durham, NC | $792,785 | $1,542,394 |
Itba Alumni Foundation Inc Miami, FL | $3,754 | $1,559,691 |
The Citadel Alumni Association Charleston, SC | $12,996,112 | $2,040,375 |