Scholarship Foundation Of Indian River County Inc

Organization Overview

Scholarship Foundation Of Indian River County Inc is located in Vero Beach, FL. 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 12/2021, Scholarship Foundation Of Indian River County Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarship Foundation Of Indian River County 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 12/2021, Scholarship Foundation Of Indian River County Inc generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $669.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SCHOLARSHIP FOUNDATION OF IRC PROVIDES HOPE, ENCOURAGEMENT AND NEED-BASED SCHOLARSHIPS TO INDIAN RIVER COUNTY STUDENTS WITH THE DESIRE AND ABILITY TO SUCCEED IN POST-SECONDARY EDUCATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIP FOUNDATION AWARDS MULTI-YEAR SCHOLARSHIPS THAT ARE RENEWABLE IF RECIPIENTS MEET ACADEMIC AND PAPERWORK REQUIREMENTS. IN 2021, WE PAID 467,229 IN AWARDS, RANGING FROM 500 TO 7,500 TO 123 NEW AND RETURNING STUDENTS. WE MADE NEW AWARDS TOTALING 531,850 TO 31 STUDENTS IN THE CLASS OF 2021.


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Board, Officers & Key Employees

Name (title)Compensation
Susan Chenault
President
$0
Mary Johnston
Treasurer
$0
Jonathan Sternberg
Vice Preside
$0
Ann Bixel Wald
Secretary
$0
Robert G Sexton
Past Preside
$0
Robert Brackett
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$100,886
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$375,162
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$476,048
Total Program Service Revenue$0
Investment income $448,408
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $719,790
Net Income from Fundraising Events -$16,468
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,627,778

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Scholarship Foundation Of Indian River County Inc has recieved totaling $16,200.

Awarding OrganizationAmount
Gullquist-Mullin Family Foundation

Vero Beach, FL

PURPOSE: UNRESTRICTED

$15,000
Bailey Family Foundation Inc

Vero Beach, FL

PURPOSE: CHARITABLE PURPOSES

$1,200
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$10,493,603
Earnings$1,436,571
Net Contributions$72,500
Other Expense$170,242
Grants$245,029
Ending Balance$11,587,403

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