Paths For Success Foundation
- Assets
- $1.2m
- Revenue
- $111.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 06/1997
- Data as of
- 09/2021
- EIN
- 63-1167317
Organization Overview
Paths For Success Foundation is located in Montgomery, AL. The organization was established in 1997. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paths For Success Foundation 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 09/2021, Paths For Success Foundation generated $111.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $43.1k during the year ending 09/2021. While expenses have increased by 0.1% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MANAGE, PROMOTE, SUPPORT AND ADMINISTER THE ALL-ALABAMA ACADEMIC TEAM RECOGNITION PROGRAM, WHICH IS THE ALABAMA CHAPTER OF A NATIONAL SCHOLARSHIP ACHIEVEMENT RECOGNITION PROGRAM FOR STUDENTS OF TWO YEAR COLLEGES INCLUDING COMMUNITY AND TECHNICAL COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROMOTED EDUCATIONAL ACHIEVEMENT FOR THE YEAR ENDED 9/30/2021 BY AWARDING SCHOLARSHIPS TOTALING 34,000 TO OUTSTANDING TWO-YEAR COLLEGE STUDENTS AND THEIR INSTITUTIONS. THE SELECTED STUDENTS ARE ENROLLED IN COMMUNITY AND TECHNICAL COLLEGES,EXCEL IN THE CLASSROOM, POSSESS A MINIMUM GPA OF 3.25, ARE INVOLVED IN CAMPUS ACTIVITIES, AND HAVE COMPLETED A MINIMUM OF TWELVE SEMESTER HOURS AT THE INSTITUTION. THE FOUNDATION CONDUCTS AN ANNUAL AWARDS PROGRAM AND BANQUET TO HONOR THE SCHOLARSHIP RECIPIENTS AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neal Wade Chairman | OfficerTrustee | 1 | $0 |
Olivier Charles Vice-Preside | OfficerTrustee | 1 | $0 |
Terry Mitchell Secretary/tr | OfficerTrustee | 5 | $0 |
Greg Barker Director | Trustee | 1 | $0 |
Sonny Brasfield Director | Trustee | 1 | $0 |
George Clark Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $14,515 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,558 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $111,223 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $34,000 |
| 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 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 | $3,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $806 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $43,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,189 |
| Savings and temporary cash investments | $331 |
| 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 | $1,200 |
| Investments—publicly traded securities | $1,163,027 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,224,747 |
| 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 | $1,224,747 |
| 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 |
| Total liabilities and net assets/fund balances | $1,224,747 |