Vsga-Vip Scholarship Foundation
- Assets
- $3.4m
- Revenue
- $286.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Midlothian, VA
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 52-1330462
Organization Overview
Vsga-Vip Scholarship Foundation is located in Midlothian, VA. The organization was established in 1984. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vsga-Vip 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 12/2021, Vsga-Vip Scholarship Foundation generated $286.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $135.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COLLEGE SCHOLARSHIPS TO AMATEUR GOLFERS BASED UPON ACADEMIC EXCELLENCE AND ECONOMIC NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDED SCHOLARSHIPS TO AMATEUR GOLFERS WHO ARE VIRGINIA RESIDENTS ATTENDING COLLEGE BASED UPON ACADEMIC EXCELLENCE AND ECONOMIC NEED.
THE FOUNDATION'S FLEMING FUND PROVIDES FUNDING FOR JUNIOR GIRLS TO ATTEND JUNIOR GOLF PROGRAMS. THE FLEMING FUND ASSISTS JUNIOR GIRLS AGES SEVEN (7) THROUGH (18) BY FUNDING SCHOLARSHIPS FOR GOLF CAMPS AND OTHER GOLF INSTRUCTION AND SUPPORTING THEIR PARTICIPATION IN TOURNAMENTS AND OTHER GOLF-RELATED ACTIVITIES. THE FLEMING FUND FOCUSES ITS SUPPORT ON VIRGINIA GIRLS WHO OTHERWISE WOULD NOT BE ABLE TO ENJOY THESE OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Millen President | OfficerTrustee | 2 | $0 |
Anne Greever Secretary | OfficerTrustee | 2 | $0 |
Brian Maloney Treasurer | OfficerTrustee | 2 | $0 |
Joan Gardner Director | Trustee | 2 | $0 |
Lindsay Wortham Director | Trustee | 2 | $0 |
Jack Walker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $102,675 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,222 |
| Noncash contributions included in lines 1a–1f | $7,327 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $145,897 |
| Total Program Service Revenue | $0 |
| Investment income | $78,478 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,852 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $286,227 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $92,350 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $30,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,472 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $135,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $231,353 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,114,626 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,300 |
| Total assets | $3,352,279 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,893,404 |
| Net assets with donor restrictions | $458,875 |
| 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 | $3,352,279 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Vsga-Vip Scholarship Foundation has recieved totaling $107,675.
| Awarding Organization | Amount |
|---|---|
Virginia State Golf Association Inc Midlothian, VA PURPOSE: GENERAL SUPPORT, CONTRIBUTION TO SPENCER-WILKINSON FUND | $102,675 |
Wortham Family Foundation Richmond, VA PURPOSE: GENERAL FUNDING | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Municipal Golf Corporation Baltimore, MD | $5,865,972 | $8,297,007 |
Carolinas Golf Association Southern Pines, NC | $7,201,901 | $7,597,187 |
Highlands Falls Country Club Inc Highlands, NC | $17,573,731 | $5,732,867 |
Virginia State Golf Association Inc Midlothian, VA | $3,471,487 | $3,409,263 |
Tennessee Golf Association Inc Franklin, TN | $4,139,217 | $1,862,884 |
Middle Atlantic Section Stafford, VA | $5,763,398 | $2,084,524 |
Youth Golf Foundation Of The Carolinas Charlotte, NC | $5,362,878 | $1,885,876 |
Washington County Public Golf Corporation Hagerstown, MD | $1,306,184 | $1,383,060 |
Youth Golf Coalition Inc Louisville, KY | $413,048 | $1,150,038 |
The First Tee Of Greater Washington Washington, DC | $1,320,460 | $1,360,948 |
The First Tee Of Greater Knoxville Knoxville, TN | $3,706,136 | $1,536,633 |
Kentucky Golf Association Inc Louisville, KY | $200,391 | $818,486 |