Aaa Scholarship Foundation Inc
- Assets
- $94.5m
- Revenue
- $108.5m
- Investments
- $0.0
- Employees
- 20
- Location
- Tampa, FL
- Founding
- 09/2010
- Data as of
- 06/2023
- EIN
- 27-2559468
Organization Overview
Aaa Scholarship Foundation Inc is located in Tampa, FL. The organization was established in 2010. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2023, Aaa Scholarship Foundation Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aaa Scholarship 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, Aaa Scholarship Foundation Inc generated $108.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $131.1m during the year ending 06/2023. While expenses have increased by 25.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AAA SCHOLARSHIP FOUNDATION, INC. ("AAA") IS A GEORGIA NOT-FOR-PROFIT ORGANIZATION INCORPORATED MARCH 26, 2010. AAA'S MISSION IS TO: 1) PROMOTE RELIEF TO THE POOR AND UNDERPRIVILEGED AND 2) PROMOTE THE ADVANCEMENT OF EDUCATION. WE CARRY-OUT OUR MISSION BY ADMINISTERING VARIOUS LEGISLATIVELY- AUTHORIZED SCHOLARSHIP PROGRAMS THAT HELP ENSURE ECONOMICALLY-DISADVANTAGED FAMILIES AND FAMILIES OF CHILDREN WITH DISABILITIES HAVE EQUAL ACCESS TO THE CUSTOMIZED LEARNING OPTIONS THEY NEED TO EFFECTIVELY EDUCATE THEIR CHILDREN. AAA IS AN APPROVED SCHOLARSHIP ORGANIZATION (SO) IN GEORGIA, ARIZONA, FLORIDA, AND NEVADA. AS AN SO, AAA MAY RECEIVE RE-DIRECTED STATE TAXES FROM INDIVIDUAL AND CORPORATE TAXPAYERS. THESE RE-DIRECTED FUNDS ARE THEN DISTRIBUTED TO ELIGIBLE STUDENTS IN THE FORM OF SCHOLARSHIPS (UP TO GRADE 12) SO THEY MAY ACCESS THE EDUCATIONAL ENVIRONMENTS THAT BEST FIT THEIR LEARNING NEEDS. AAA UNDERSTANDS THAT FAMILIES FIGHTING GENERATIONAL POVERTY SEE EDUCATION AS THE SUREST MEANS TO UPWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THANKS TO OUR AMAZING DONORS, WE HAD THE PRIVILEGE OF GRANTING THE FOLLOWING NUMBER OF NET SCHOLARSHIPS TO CHILDREN WHO ARE DISPLACED OR ARE CHALLENGED WITH ECONOMIC, DEVELOPMENTAL, AND/OR PHYSICAL DISADVANTAGES TO HELP THEM AFFORD THE EDUCATIONAL ENVIRONMENTS THAT BEST FIT THEIR LEARNING NEEDS: GEORGIA: 450 ANNUAL PRE-K4 - 12TH GRADE SCHOLARSHIPS; ARIZONA: 2,445 ANNUAL K - 12TH GRADE SCHOLARSHIPS; FLORIDA: 1,419 ANNUAL K - 12TH GRADE SCHOLARSHIPS; FES-UA: 1,475 ANNUAL K4 - 12TH GRADE SCHOLARSHIPS; FES-EO: 326 ANNUAL K - 12TH GRADE SCHOLARSHIPS; AND NEVADA: 798 ANNUAL K - 12TH GRADE SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Dyson Chief Exec O | Officer | 60 | $74,079 |
Toni Cardamone Director | Trustee | $0 | |
Teresa L'homme Director | Trustee | $0 | |
Kimberly Perry Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kv And Associates Llc Fund Raising | 6/29/19 | $873,547 |
Office Team Staffing | 6/29/19 | $144,570 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,764,427 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,764,427 |
| Total Program Service Revenue | $0 |
| Investment income | $2,860,711 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$141,088 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,484,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,620,000 |
| Grants and other assistance to domestic individuals. | $30,896,155 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $86,617 |
| Compensation of current officers, directors, key employees. | $86,617 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $800,883 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $238,809 |
| Payroll taxes | $76,902 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,470 |
| Fees for services: Accounting | $31,003 |
| Fees for services: Lobbying | $117,415 |
| Fees for services: Fundraising | $1,065,658 |
| Fees for services: Investment Management | $58,897 |
| Fees for services: Other | $104,594 |
| Advertising and promotion | $24,800 |
| Office expenses | $196,988 |
| Information technology | $114,388 |
| Royalties | $0 |
| Occupancy | $138,661 |
| Travel | $15,776 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,950 |
| Interest | $809 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $298,370 |
| Insurance | $179,571 |
| All other expenses | $0 |
| Total functional expenses | $131,093,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $464,071 |
| Savings and temporary cash investments | $12,709,132 |
| Pledges and grants receivable | $24,370,115 |
| Accounts receivable, net | $11,796 |
| 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 | $312,534 |
| Net Land, buildings, and equipment | $298,603 |
| Investments—publicly traded securities | $44,249,077 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,073,376 |
| Total assets | $94,488,704 |
| Accounts payable and accrued expenses | $558,551 |
| Grants payable | $37,776,173 |
| Deferred revenue | $389,763 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,916,097 |
| 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 | $166,912 |
| Total liabilities | $50,807,496 |
| Net assets without donor restrictions | $3,614,450 |
| Net assets with donor restrictions | $40,066,758 |
| 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 | $94,488,704 |