Achievement Rewards For College Scients Foundation Inc
- Assets
- $5.0m
- Revenue
- $2.5m
- Investments
- $4.9m
- Employees
- 0
- Location
- Lagrange, GA
- Founding
- 11/1973
- Data as of
- 06/2023
- EIN
- 23-7373079
Organization Overview
Achievement Rewards For College Scients Foundation Inc, operating under the name Arcs Foundation Inc, is located in Lagrange, GA. The organization was established in 1973. According to its NTEE Classification (B40) the organization is classified as: Higher Education, 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. Arcs Foundation 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 06/2023, Arcs Foundation Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $340.7k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Arcs Foundation Inc has awarded 56 individual grants totaling $764,597. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ARCS FOUNDATION PROVIDES SCHOLAR AWARDS TO ACADEMICALLY OUTSTANDING UNITED STATES CITIZENS STUDYING TO COMPLETE DEGREES IN SCIENCE, MEDICINE AND ENGINEERING, THEREBY CONTRIBUTING TO THE ADVANCEMENT OF SCIENCE AND TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARCS FOUNDATION NATIONAL, UTILIZING ITS MANAGEMENT FIRM, PROVIDES SIGNIFICANT COMMUNICATIONS SERVICES BENEFITING ALL CHAPTERS WITHIN THE ORGANIZATION. SERVICES INCLUDE THE PRODUCTION OF AN ANNUAL REPORT, A REGULAR ELECTRONIC NEWSLETTER, AND REGULAR SOCIAL MEDIA POSTS HIGHLIGHTING THE WORK OF THE ORGANIZATION ITSELF AND THE ACCOMPLISHMENTS OF CURRENT AND FORMER SCHOLARS. WEBINARS ARE HELD FOR THE TRAINING OF LEADERSHIP IN A VARIETY OF AREAS ESSENTIAL TO THE FUNCTIONING OF THE CHAPTERS. OTHER RELATED EXPENSES INCLUDE THE PURCHASE OF BRANDED MATERIALS PROVIDED TO CHAPTER SCHOLARS AT AWARDS CELEBRATIONS.
THE NATIONAL BOARD PROVIDES A ROBUST WEB SITE FOR THE USE OF ALL ARCS CHAPTERS. WEB SITE FEATURES INCLUDE PAYMENT PROCESSING, SCHOLAR DATABASE MANAGEMENT AND REPORTING, MEMBER AND DONOR DATABASE MANAGEMENT AND REPORTING, EMAIL COMMUNICATIONS, AND EVENT MANAGEMENT.
THE ALL MEMBER CONFERENCE AND NATIONAL BOARD MEETINGS ARE ATTENDED BY THE ORGANIZATION'S BOARD OF DIRECTORS AND MEMBERS OF AFFILIATED CHAPTERS. THESE MEETINGS PROVIDE BREAK-OUT SESSIONS, WORKSHOPS, KEYNOTE SPEAKERS, PRESENTATIONS BY CURRENT AND FORMER SCHOLARS , AND AWARDS AND RECOGNITION FOR ACCOMPLISHMENTS IN ORDER TO FURTHER THE MISSION OF THE ORGANIZATION. THE MEETINGS ALSO FACILITATE THE DEVELOPMENT AND MAINTENANCE OF NATIONAL STANDARDS OF EXCELLENCE FOR RECIPIENT UNIVERSITIES AND ELIGIBLE SCHOLARS. THEY PROVIDE MENTORING AND VOLUNTEER DEVELOPMENT OPPORTUNITIES AS WELL AS COMMUNICATION NETWORKS FOR THE BENEFIT OF AFFILIATED CHAPTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caron Ogg President | OfficerTrustee | 5 | $0 |
Beth Wainwright President-Elect | OfficerTrustee | 5 | $0 |
Christine Hawes VP For Finance | OfficerTrustee | 5 | $0 |
Nancy Chambers Secretary | OfficerTrustee | 5 | $0 |
Amy Rudolf Board Member | Trustee | 5 | $0 |
Anna Maria Matteucci VP For Philanthropy | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $39,165 |
| Fundraising events | $66,805 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,196,733 |
| Noncash contributions included in lines 1a–1f | $5,214 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,302,703 |
| Total Program Service Revenue | $70,060 |
| Investment income | $109,837 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,406 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,666 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,472,860 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $121,548 |
| Fees for services: Legal | $517 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,806 |
| Fees for services: Other | $26,131 |
| Advertising and promotion | $0 |
| Office expenses | $112,581 |
| Information technology | $31,578 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $340,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,527 |
| Savings and temporary cash investments | $0 |
| 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 | $5,653 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,917,297 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,044,477 |
| Accounts payable and accrued expenses | $36,196 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $36,196 |
| Net assets without donor restrictions | $267,797 |
| Net assets with donor restrictions | $4,740,484 |
| 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 | $5,044,477 |
Grants Awarded
Over the last fiscal year, Achievement Rewards For College Scients Foundation Inc has awarded $37,145 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ARCS FOUNDATION INC ILLINOIS CHAPTER PURPOSE: UNRESTRICTED | $8,125 |
ARCS FOUNDATION INC COLORADO CHAPTER PURPOSE: UNRESTRICTED | $23,850 |
ARCS FOUNDATION INC PHOENIX PURPOSE: UNRESTRICTED | $5,170 |