Wem Scholarship Inc
- Assets
- $3.6m
- Revenue
- $528.6k
- Investments
- $3.6m
- Employees
- 0
- Location
- Larkspur, CO
- Founding
- Data as of
- 12/2021
- EIN
- 84-3929667
Organization Overview
Wem Scholarship Inc is located in Larkspur, CO. 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. Wem Scholarship 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, Wem Scholarship Inc generated $528.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (61.0%) each year. All expenses for the organization totaled $284.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Garrison Director | 15 | $48,000 | |
Sonia Garrison Treasurer | 10 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $73,396 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $455,251 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $528,647 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $68,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,651 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,062 |
| Total operating and administrative expenses | $91,666 |
| Contributions, gifts, grants paid | $192,976 |
| Total expenses and disbursements | $284,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,639,890 |
| Accounts payable and accrued expenses | $2,601 |
| 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 | $2,601 |
Grants Awarded
Over the last fiscal year, Wem Scholarship Inc has awarded $192,976 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Arkadelphia, AR PURPOSE: SCHOLARSHIP | $50,000 |
UNIVERSITY OF NORTH ALABAMA PURPOSE: SCHOLARSHIP | $50,000 |
Nashville, TN PURPOSE: SCHOLARSHIP | $42,976 |
BERRY COLLEGE PURPOSE: SCHOLARSHP | $30,000 |
COLLINWOOD HIGH SCHOOL PURPOSE: SCHOLARSHIP | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $8,143,528 | $41,232,860 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $37,186,348 | $28,870,649 |
Catholic Education Arizona Phoenix, AZ | $32,375,379 | $24,525,242 |
Wichita Center For Graduate Medical Education Inc Wichita, KS | $5,382,351 | $22,892,628 |
Arizona Tuition Connection Inc Scottsdale, AZ | $37,104,483 | $31,699,669 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Flinn Foundation Phoenix, AZ | $285,130,665 | $13,331,134 |