Idaho Governors Cup Scholarshipfund Inc
- Assets
- $1.4m
- Revenue
- $446.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Boise, ID
- Founding
- 12/2007
- Data as of
- 12/2023
- EIN
- 20-8277116
Organization Overview
Idaho Governors Cup Scholarshipfund Inc is located in Boise, ID. The organization was established in 2007. 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 12/2023, Idaho Governors Cup Scholarshipfund Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idaho Governors Cup Scholarshipfund 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 12/2023, Idaho Governors Cup Scholarshipfund Inc generated $446.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $540.3k during the year ending 12/2023. 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
THE PURPOSE OF THE ORGANIZATION IS TO RAISE FUNDS ON A CONTINUING, NON- PARTISAN BASIS, IN COOPERATION WITH THE ONGOING SUCCESSION OF GOVERNORS OF THE STATE OF IDAHO, FOR SCHOLARSHIPS FOR IDAHO STUDENTS TO ATTEND IDAHO COLLEGES, TRADE SCHOOLS AND UNIVERSITIES. TO THAT END, THE ORGANIZATION WILL CONDUCT AN IDAHO GOVERNOR'S CUP ANNUALLY WITH THE THEN CURRENT GOVERNOR OF IDAHO SERVING AS THE HOST FOR THE EVENT AND WILL SEEK OPPORTUNITIES TO CREATE OTHER ACTIVITIES FOR FUNDRAISING FOR THE SCHOLARSHIP FUND IN COOPERATION WITH THE GOVERNOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SCHOLARSHIPS TO ELIGIBLE INDIVIDUALS ENROLLED IN IDAHO PUBLIC AND PRIVATE COLLEGES, TRADE SCHOOLS, AND UNIVERSITIES. FOR THE CURRENT YEAR, THE ORGANIZATION AWARDED 423,000 IN SCHOLARSHIP FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Bettwieser Director | Trustee | 1 | $0 |
Martin Bilbao Director | Trustee | 1 | $0 |
Elli Brown Director | Trustee | 1 | $0 |
Rachel Burkett Secretary | OfficerTrustee | 2 | $0 |
Cordell Chigbrow Treasurer | OfficerTrustee | 2 | $0 |
Ken Dey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $368,900 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $443,900 |
| Total Program Service Revenue | $0 |
| Investment income | $2,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $446,003 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $423,000 |
| 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 | $85,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,809 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,286 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,750 |
| Advertising and promotion | $0 |
| Office expenses | $409 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,340 |
| Travel | $577 |
| 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 | $2,221 |
| All other expenses | $0 |
| Total functional expenses | $540,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $769,440 |
| Savings and temporary cash investments | $181,142 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $472,965 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,423,547 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,309,500 |
| Deferred revenue | $0 |
| 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 | $29,438 |
| Total liabilities | $1,338,938 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $84,609 |
| Total liabilities and net assets/fund balances | $1,423,547 |