Arthur K & Sylvia S Lee Scholarship Foundation
- Assets
- $397.9k
- Revenue
- $18.7k
- Investments
- $371.8k
- Employees
- 0
- Location
- Franklin, TN
- Founding
- 04/1965
- Data as of
- 12/2023
- EIN
- 36-6069067
Organization Overview
Arthur K & Sylvia S Lee Scholarship Foundation is located in Franklin, TN. The organization was established in 1965. 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. Arthur K & Sylvia S Lee 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 12/2023, Arthur K & Sylvia S Lee Scholarship Foundation generated $18.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.2%) each year. All expenses for the organization totaled $167.0k 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
THE FOUNDATION MADE GRANTS TO BE USED FOR EDUCATIONAL PURPOSES TO THE RECIPIENTS LISTED IN THE ATTACHED STATEMENT.
THE FOUNDATION MADE AN ENDOWMENT TO THE COMMUNITY FOUNDATION OF TENNESSEE FOR THE CONTINUANCE OF SCHOLARSHIP GRANTING TO QUALIFIED INDIVIDUALS.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $875 |
| Interest on Savings | $501 |
| Dividends & Interest | $14,374 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,953 |
| Capital Gain Net Income | $2,953 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $18,703 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $570 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,393 |
| Total operating and administrative expenses | $23,981 |
| Contributions, gifts, grants paid | $143,062 |
| Total expenses and disbursements | $167,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,944 |
| Savings and temporary cash investments | $12,164 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $397,902 |
| 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 |
Grants Awarded
Over the last fiscal year, Arthur K & Sylvia S Lee Scholarship Foundation has awarded $143,062 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITY OF TENNESSEE SOUTHERN PURPOSE: MEMORIAL CONTRIBUTION IN MEMORY OF MACK LINEBAUGH JR | $2,000 |
COMMUNITY FOUNDATION OF MIDDLE TENNESSEE PURPOSE: FOR THE CONTINUANCE OF SCHOLARSHIP GRANTING FOR QUALIFIED INDIVIDUALS | $82,245 |
SEE ATTACHMENT #3 PURPOSE: EDUCATIONAL SCHOLARSHIPS | $58,817 |