Womens Independence Scholarship Program Inc
- Assets
- $21.4m
- Revenue
- $1.6m
- Investments
- $20.6m
- Employees
- 0
- Location
- Wilmington, NC
- Founding
- 05/2008
- Data as of
- 12/2023
- EIN
- 26-1956643
Organization Overview
Womens Independence Scholarship Program Inc is located in Wilmington, NC. The organization was established in 2008. 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. Womens Independence Scholarship Program 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, Womens Independence Scholarship Program Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOMEN'S INDEPENDENCE SCHOLARSHIP PROGRAMHELPS WOMEN SURVIORS OF DOMESTIC VIOLENCE (INTIMATE PARTNER ABUSE) COMPLETE AN EDUCATIONAL PROGRAM THAT IS CRUCIAL TO SECURE EMPLOYMENT AND FINANCIAL STABILITY NECESSARY FOR INDEPENDENCE AND SELF-SUFFICIENCY. UP TO 500 RECIPIENTS ARE SELECTED EACH YEAR TO RECEIVE AID FOR DIRECT EDUCATIONAL EXPENSES (TUITION, BOOKS, FEES) AND/OR TO REDUCE FINANCIAL BARRIERS TO EDUCATION (E.G CHILDCARE, TRANSPORT).CHANGE YOUR WORLD SCHOLARSHIP PROGRAMAVAILABLE TO THE SONS AND DAUGHTER OF OUR WOMENS INDEPENDENCE SCHOLARSHIP PROGRAM GRADUATES, THIS SCHOLARSHIP PROVIDES TUITION ASSISTANCE TO A MAXIMUM OF $3,000 PER ACADEMIC YEAR FOR UP TO 50 APPLICANTS. RECIPIENTS ARE SELECTED BASED ON PREVIOUS ACADEMIC PERFORMANCE AND CRITICAL FINANCIAL NEED.SEE PDF ATTACHMENT FOR STATEMENT 9 (CHARITABLE DISBURSEMENTS)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Fountain Chair | 2 | $0 | |
Ellen Kiernan Vice Chair | 2 | $0 | |
Nancy Soward Secretary | 2 | $0 | |
Nanci Mcgregor Treasurer | 2 | $0 | |
Jc Graham Director | 2 | $0 | |
Tammy Simmons Executive Dir. | 40 | $116,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,944 |
| Interest on Savings | $9,010 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,571,200 |
| Capital Gain Net Income | $1,571,200 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,582,154 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $116,150 |
| Other employee salaries and wages | $184,066 |
| Pension plans, employee benefits | $54,598 |
| Interest | $0 |
| Taxes | $22,306 |
| Depreciation | $1,525 |
| Occupancy | $11,014 |
| Travel, conferences, and meetings | $5,348 |
| Printing and publications | $4,722 |
| Other expenses | $38,073 |
| Total operating and administrative expenses | $487,369 |
| Contributions, gifts, grants paid | $1,334,906 |
| Total expenses and disbursements | $1,822,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,240 |
| Savings and temporary cash investments | $719,222 |
| 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 | $52,600 |
| Other assets | $0 |
| Total assets | $21,403,813 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |