Southern Scholarship Foundation Inc
- Assets
- $17.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 15
- Location
- Tallahassee, FL
- Founding
- 03/1957
- Data as of
- 12/2023
- EIN
- 59-0939481
Organization Overview
Southern Scholarship Foundation Inc is located in Tallahassee, FL. The organization was established in 1957. 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 12/2023, Southern Scholarship Foundation Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Scholarship 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, Southern Scholarship Foundation Inc generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. 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
THROUGH RENT-FREE HOUSING AND COOPERATIVE LIVING, SOUTHERN SCHOLARSHIP FOUNDATION SUPPORTS STUDENTS WHO LACK FINANCIAL RESOURCES, DEMONSTRATE EXCELLENT ACADEMIC MERIT, AND EXEMPLIFY GOOD CHARACTER ATTEND INSTITUTIONS OF HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BY PROVIDING RENT-FREE HOUSING, SOUTHERN SCHOLARSHIP FOUNDATION (SSF), DRAMATICALLY REDUCES THE COST OF LIVING, THUS INCREASING THE LIKELIHOOD THAT LOW INCOME STUDENTS WILL COMPLETE THEIR DEGREES. THROUGH COOPERATIVE LIVING, RESIDENTS MANAGE HOUSEHOLD BUDGETS, ENFORCE RULES DESIGNED TO SUPPORT A CLEAN, SAFE ENVIRONMENT; AND THEY COOK MEALS AND EAT TOGETHER. RESIDENTS HAVE A HOME, A COMMUNITY, AND A SUPPORT NETWORK FROM THE FIRST DAY THEY ENTER THEIR HOUSES. SSF OPERATES 26 HOUSES AND SERVES AN AVERAGE OF 400 RESIDENTS IN GAINESVILLE, FT. MYERS, AND TALLAHASSEE, FL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Davis Board Chair | OfficerTrustee | 2 | $0 |
Dr Sheila K Dickison Chair Elect | OfficerTrustee | 2 | $0 |
Paula Deboles-Johnson Board Secretary | OfficerTrustee | 2 | $0 |
Ryan Tucker Treasurer | OfficerTrustee | 2 | $0 |
Rhoda Glasco Foderingham Immediate Past Chair | OfficerTrustee | 2 | $0 |
Anne Toulouse At-Large | Trustee | 2 | $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 | $1,470,203 |
| Noncash contributions included in lines 1a–1f | $7,350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,470,203 |
| Total Program Service Revenue | $109,260 |
| Investment income | $254,809 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,525 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,928,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $132,421 |
| Compensation of current officers, directors, key employees. | $14,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $527,065 |
| Pension plan accruals and contributions | $9,454 |
| Other employee benefits | $68,400 |
| Payroll taxes | $52,022 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $604 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $114,255 |
| Advertising and promotion | $29 |
| Office expenses | $73,560 |
| Information technology | $13,723 |
| Royalties | $0 |
| Occupancy | $55,056 |
| Travel | $4,968 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85,156 |
| Interest | $4,227 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $458,431 |
| Insurance | $225,264 |
| All other expenses | $0 |
| Total functional expenses | $2,205,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $508,529 |
| Savings and temporary cash investments | $242,444 |
| Pledges and grants receivable | $46,838 |
| Accounts receivable, net | $62,165 |
| 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 | $55,964 |
| Net Land, buildings, and equipment | $7,945,284 |
| Investments—publicly traded securities | $8,147,369 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,008,593 |
| Accounts payable and accrued expenses | $246,463 |
| 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 | $414,406 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $344,254 |
| Total liabilities | $1,005,123 |
| Net assets without donor restrictions | $7,497,265 |
| Net assets with donor restrictions | $8,506,205 |
| 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 | $17,008,593 |