Ray Of Light Scholarship Fund
- Assets
- $11.9m
- Revenue
- $3.0m
- Investments
- $11.9m
- Employees
- 0
- Location
- Delray Beach, FL
- Founding
- 07/2014
- Data as of
- 12/2020
- EIN
- 46-3252749
Organization Overview
Ray Of Light Scholarship Fund is located in Delray Beach, FL. The organization was established in 2014. 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. Ray Of Light Scholarship Fund 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 12/2020, Ray Of Light Scholarship Fund generated $3.0m in total revenue. All expenses for the organization totaled $144.2k during the year ending 12/2020. While expenses have increased by 52.4% per year over the past 3 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.
Since 2020, Ray Of Light Scholarship Fund has awarded 57 individual grants totaling $501,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Zuccaro Director, Vice President | 1 | $0 | |
Mary Jane Zuccaro Director, President | 3 | $0 | |
Brynne Zuccaro Director, Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $327,850 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,000,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $44 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $462 |
| Total operating and administrative expenses | $4,563 |
| Contributions, gifts, grants paid | $139,600 |
| Total expenses and disbursements | $144,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,713 |
| Savings and temporary cash investments | $0 |
| 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 | $11,870,251 |
| 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, Ray Of Light Scholarship Fund has awarded $221,800 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
Johns Island, SC PURPOSE: SCHOLARSHIP PROGRAM | $16,975 |
THE UNIVERSITY OF CONNECTICUT ITF M PURPOSE: SCHOLARSHIP PROGRAM | $10,000 |
ANDERSON UNIVERSITY ITF BREANNA POR PURPOSE: SCHOLARSHIP PROGRAM | $10,000 |
URSINUS COLLEGE ITF NETHMI EDIRIWEE PURPOSE: SCHOLARSHIP PROGRAM | $8,000 |
West Haven, CT PURPOSE: SCHOLARSHIP PROGRAM | $8,000 |
FAIRFIELD UNIVERSITY ITF CESAR RIVE PURPOSE: SCHOLARSHIP PROGRAM | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |