Anchor Scholarship Foundation
- Assets
- $1.5m
- Revenue
- $343.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Norfolk, VA
- Founding
- 04/2004
- Data as of
- 06/2022
- EIN
- 32-0109100
Organization Overview
Anchor Scholarship Foundation is located in Norfolk, VA. The organization was established in 2004. 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 06/2022, Anchor Scholarship Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Anchor Scholarship Foundation 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 06/2022, Anchor Scholarship Foundation generated $343.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $281.9k during the year ending 06/2022. While expenses have increased by 6.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO AWARD COLLEGE SCHOLARSHIPS TO DEPENDENT CHILDREN AND SPOUSES OF ACTIVE DUTY, RETIRED AND HONORABLY DISCHARGED SURFACE NAVY PERSONNEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO AWARD COLLEGE SCHOLARSHIPS TO DEPENDENT CHILDREN AND SPOUSES OF ACTIVE DUTY, RETIRED AND HONORABLY DISCHARGED SURFACE NAVY PERSONNEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joy Eyrolles Executive Di | Trustee | 40 | $75,000 |
H James Monroe Chairman | OfficerTrustee | 1 | $0 |
Perry Bingham Treasurer | OfficerTrustee | 1 | $0 |
Pete Gumataotao Secretary | OfficerTrustee | 1 | $0 |
David Steindl Vice Chair | OfficerTrustee | 1 | $0 |
Gina Buzby Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $330 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,918 |
| Noncash contributions included in lines 1a–1f | $330 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,248 |
| Total Program Service Revenue | $0 |
| Investment income | $116,425 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,575 |
| Net Income from Fundraising Events | $11,095 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $343,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $119,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,000 |
| Compensation of current officers, directors, key employees. | $11,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,964 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,947 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,502 |
| Office expenses | $8,460 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,207 |
| Travel | $4,285 |
| 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 | $1,526 |
| Insurance | $610 |
| All other expenses | $1,274 |
| Total functional expenses | $281,920 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,891 |
| Savings and temporary cash investments | $94,799 |
| 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 | $1,911 |
| Net Land, buildings, and equipment | $3,346 |
| Investments—publicly traded securities | $1,413,957 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,531,904 |
| Accounts payable and accrued expenses | $0 |
| 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 | $64,142 |
| Total liabilities | $64,142 |
| Net assets without donor restrictions | $767,958 |
| Net assets with donor restrictions | $699,804 |
| 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 | $1,531,904 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Anchor Scholarship Foundation has recieved totaling $95,536.
| Awarding Organization | Amount |
|---|---|
United Way Of South Hampton Roads Norfolk, VA PURPOSE: GRANTS AWARDED | $45,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $18,995 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $18,041 |
T Nash And Gloria M Broaddus Foundation Virginia Beach, VA PURPOSE: TO PROVIDE SCHOLARSHIPS TO FAMILY MEMBERS OF ACTIVE DUTY, RETURED, AND HONORABLY DISCHARGED SURFACE NAVY PERSONNEL. | $13,500 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Thurgood Marshall College Fund Inc Washington, DC | $121,810,471 | $98,266,975 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
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 |