Dorrance Foundation For Education
- Assets
- $44.0m
- Revenue
- $12.1m
- Investments
- $41.1m
- Employees
- 0
- Location
- Scottsdale, AZ
- Founding
- 03/2019
- Data as of
- 12/2021
- EIN
- 82-3330439
Organization Overview
Dorrance Foundation For Education is located in Scottsdale, AZ. The organization was established in 2019. 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. Dorrance Foundation For Education 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, Dorrance Foundation For Education generated $12.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (20.2%) each year. All expenses for the organization totaled $4.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Dorrance Foundation For Education has awarded 157 individual grants totaling $7,040,666. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DORRANCE FOUNDATION FOR EDUCATION PROVIDED SCHOLARSHIPS TO OVER 147 STUDENTS ACROSS VARIOUS EDUCATIONAL INSTITUTIONS AND PROVIDED FOR THEM A FULL EMERSION TRAVELING SEMESTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bennett Dorrance President | 2 | $0 | |
Jaquelynn Dorrance Vice President | 2 | $0 | |
James Hensley Executive Director | 40 | $426,351 | |
Kara Trullinger Secretary | 2 | $0 | |
Jason Stiles Treasurer | 2 | $0 | |
Chrystale Fulayter Director | 40 | $95,198 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,176,234 |
| Interest on Savings | $3,599 |
| Dividends & Interest | $982,204 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,936,330 |
| Capital Gain Net Income | $5,936,330 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $32,046 |
| Total Revenue | $12,130,413 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $407,735 |
| Other employee salaries and wages | $601,683 |
| Pension plans, employee benefits | $184,674 |
| Interest | $31,072 |
| Taxes | $158,552 |
| Depreciation | $423,850 |
| Occupancy | $191,187 |
| Travel, conferences, and meetings | $76,034 |
| Printing and publications | $0 |
| Other expenses | $1,265,107 |
| Total operating and administrative expenses | $3,515,180 |
| Contributions, gifts, grants paid | $1,434,624 |
| Total expenses and disbursements | $4,949,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,360,769 |
| Savings and temporary cash investments | $495,031 |
| 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 | $10,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $30,554,123 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $114,980 |
| Total assets | $44,041,517 |
| Accounts payable and accrued expenses | $51,350 |
| 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 | $51,350 |
Grants Awarded
Over the last fiscal year, Dorrance Foundation For Education has awarded $1,792,928 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
3RD DECADE INC PURPOSE: TO SUPPORT CHARITABLE MISSION | $10,000 |
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: FALL 2022 SCHOLARSHIP AWARD FOR 49 STUDENTS | $291,581 |
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: SPRING 2022 SCHOLARSHIP AWARD FOR 1 STUDENT | $3,006 |
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: 2021-22 DORRANCE FINALIST BOOK SCHOLARSHIPS FOR 10 STUDENTS | $2,500 |
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: FALL 2022 SCHOLARSHIP AWARD FOR 1 STUDENT | $1,050 |
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: SPRING 2023 SCHOLARSHIP AWARD FOR 41 STUDENTS | $247,500 |