Scholarship Fund Of Alexandria
- Assets
- $8.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 11
- Location
- Alexandria, VA
- Founding
- 07/2003
- Data as of
- 09/2021
- EIN
- 20-0031464
Organization Overview
Scholarship Fund Of Alexandria is located in Alexandria, VA. The organization was established in 2003. 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 09/2021, Scholarship Fund Of Alexandria employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarship Fund Of Alexandria 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, Scholarship Fund Of Alexandria generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $1.5m during the year ending 09/2021. While expenses have increased by 7.1% per year over the past 6 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 AWARD POST-SECONDARY EDUCATION SCHOLARSHIPS TO GRADUATES OF ALEXANDRIA CITY HIGH SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Ellsworth Secretary | OfficerTrustee | 1 | $0 |
Michael Casey Vice Chair | OfficerTrustee | 1 | $0 |
Bruce E Johnson Treasurer | OfficerTrustee | 1 | $0 |
Priscilla Goodwin Chair | OfficerTrustee | 1 | $0 |
Beth Lovain Executive Director | OfficerTrustee | 40 | $0 |
Mark Anderson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $9,928 |
| Membership dues | $0 |
| Fundraising events | $441,373 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,730,006 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,181,307 |
| Total Program Service Revenue | $0 |
| Investment income | $203,327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,018 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $50,100 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,446,752 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,135,518 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $289,145 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,999 |
| Payroll taxes | $22,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,052 |
| Fees for services: Other | $10,875 |
| Advertising and promotion | $0 |
| Office expenses | $19,960 |
| 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 | $1,156 |
| Insurance | $1,932 |
| All other expenses | $0 |
| Total functional expenses | $1,549,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,099,797 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,594 |
| 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 | $5,425 |
| Net Land, buildings, and equipment | $2,216 |
| Investments—publicly traded securities | $7,196,780 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,319,812 |
| Accounts payable and accrued expenses | $26,794 |
| Grants payable | $83,500 |
| Deferred revenue | $750 |
| 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 | $111,044 |
| Net assets without donor restrictions | $4,561,847 |
| Net assets with donor restrictions | $3,646,921 |
| 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 | $8,319,812 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Scholarship Fund Of Alexandria has recieved totaling $318,542.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $209,307 |
Act For Alexandria Alexandria, VA PURPOSE: PROGRAM SUPPORT | $20,000 |
Kbr Foundation Lakewood Ranch, FL PURPOSE: GENERAL | $16,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $12,750 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,848 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $4,306,304 |
| Earnings | $440,301 |
| Admin Expense | $32,525 |
| Net Contributions | $1,372,566 |
| Grants | $386,824 |
| Ending Balance | $5,699,822 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Asian And Pacific Islander American Scholarship Fund Washington, DC | $37,686,826 | $13,616,717 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |