Robert G Carr & Nona K Carr Scholarship Foundation
- Assets
- $172.7m
- Revenue
- $8.5m
- Investments
- $153.1m
- Employees
- 4
- Location
- San Angelo, TX
- Founding
- 10/1979
- Data as of
- 08/2023
- EIN
- 75-1658292
Organization Overview
Robert G Carr & Nona K Carr Scholarship Foundation is located in San Angelo, TX. The organization was established in 1979. 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 08/2023, Robert G Carr & Nona K Carr Scholarship Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Robert G Carr & Nona K Carr Scholarship 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 08/2023, Robert G Carr & Nona K Carr Scholarship Foundation generated $8.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $11.9m during the year ending 08/2023. 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
TO PROVIDE ACADEMTC SCHOLARSHIPS FOR NEEDY AND WORTHY STUDENTS ENROLLED AT ANGELO STATE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP-PAYMENTS WERE MADE INTO A DESIGNATED FUND OF ANGELO STATE UNIVERSITY FROM WHICH ACADEMIC SCHOLARSHIPS ARE AWARDED TO NEEDY AND WORTHY STUDENTS ENROLLED AT ANGELO STATE UNIVERSITY. DURING THE 2022-2023 TAX YEAR, THE FOUNDATION TRANSFERRED $11,433,943 TO THE UNIVERSITY TO BE USED FOR SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Griffin Chairman | OfficerTrustee | 1 | $0 |
Ginger Kerrick Davis Vice Chairman | OfficerTrustee | 1 | $0 |
Steely Smith-Freeman Student Regent | OfficerTrustee | 1 | $0 |
Dusty Womble Trustee | Trustee | 1 | $0 |
Cody Campbell Trustee | Trustee | 1 | $0 |
Arcilia Acosta Trustee | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $359,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,255,865 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,919,170 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,534,752 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,433,943 |
| 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. | $103,936 |
| Compensation of current officers, directors, key employees. | $103,936 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,160 |
| Pension plan accruals and contributions | -$127,087 |
| Other employee benefits | $20,169 |
| Payroll taxes | $12,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,010 |
| Fees for services: Accounting | $23,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $298,113 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $10,664 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,151 |
| 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 | $433 |
| Total functional expenses | $11,930,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $128,553 |
| 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 | $152,867 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $153,147,523 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,267,447 |
| Total assets | $172,696,390 |
| Accounts payable and accrued expenses | $39,751 |
| Grants payable | $0 |
| Deferred revenue | $145,754 |
| 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 | $495,098 |
| Total liabilities | $680,603 |
| Net assets without donor restrictions | $64,093 |
| Net assets with donor restrictions | $171,951,694 |
| 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 | $172,696,390 |