Fay T Barnes Scholarship Fund
- Assets
- $2.4m
- Revenue
- $154.4k
- Investments
- $2.3m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1983
- Data as of
- 12/2023
- EIN
- 74-2256469
Organization Overview
Fay T Barnes Scholarship Fund is located in Chicago, IL. The organization was established in 1983. 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. Fay T Barnes Scholarship Fund 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, Fay T Barnes Scholarship Fund generated $154.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $166.1k during the year ending 12/2023. While expenses have increased by 1.3% 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.
Since 2017, Fay T Barnes Scholarship Fund has awarded 229 individual grants totaling $791,939. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $79,808 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $72,750 |
| Capital Gain Net Income | $72,750 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,865 |
| Total Revenue | $154,423 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $41,225 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,506 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $116 |
| Total operating and administrative expenses | $45,347 |
| Contributions, gifts, grants paid | $120,750 |
| Total expenses and disbursements | $166,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,614 |
| Savings and temporary cash investments | $40,645 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $144,146 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,365,064 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Fay T Barnes Scholarship Fund has awarded $120,750 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
MAKAYLA RITCHIE PURPOSE: SCHOLARSHIP | $3,500 |
MELANIE C CHAVEZ PURPOSE: SCHOLARSHIP | $3,500 |
LAURA HUYNH PURPOSE: SCHOLARSHIP | $1,750 |
ABDALLAH AL-SUKHNI PURPOSE: SCHOLARSHIP | $3,500 |
PHOIBE USABIMANA PURPOSE: SCHOLARSHIP | $1,750 |
MAX CHUNG RICHTER PURPOSE: SCHOLARSHIP | $3,500 |