Military Officers Association Of America Scholarship Fund
- Assets
- $167.0m
- Revenue
- $13.6m
- Investments
- $5.6m
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 06/1993
- Data as of
- 12/2021
- EIN
- 54-1659039
Organization Overview
Military Officers Association Of America Scholarship Fund is located in Alexandria, VA. The organization was established in 1993. 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. Military Officers Association Of America 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 12/2021, Military Officers Association Of America Scholarship Fund generated $13.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $4.3m 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
PROVIDE LOANS & GRANTS FOR UNDERGRADUATE EDUCATION TO CHILDREN OF MILITARY FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED APPROXIMATELY $4.4 MILLION IN INTEREST-FREE LOANS AND $2.3 MILLION IN GRANTS FOR UNDERGRADUATE EDUCATION TO STUDENTS FROM MILITARY FAMILIES. INTEREST-FREE LOANS WERE FOR $7,000 EACH. GRANTS RANGED FROM $500 TO $7,000. IN ADDITION, THE BALANCE OF $45,515,598 IN OUTSTANDING INTEREST-FREE LOANS TO 4,000-PLUS MILITARY CHILDREN EQUATE TO OVER $2,275,779 IN DIRECT SAVINGS TO STUDENTS (BASED ON AN AVERAGE INTEREST RATE OF 5%). ALL DONATED FUNDS SUPPORTED EDUCATIONAL ASSISTANCE. NO DONATED FUNDS WERE USED FOR OPERATIONAL EXPENSES.
PROVIDED AMERICAN PATRIOT GRANTS TO 24 STUDENTS WHOSE MILITARY PARENT DIED WHILE IN ACTIVE MILITARY SERVICE TO OUR COUNTRY OR WHOSE MILITARY PARENT COLLECTED T-SGLI. THE GRANTS WERE FOR $7,000 EACH WITH TOTAL AMOUNT OF $168,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Capt Peter Troedsson Ret Chair | OfficerTrustee | 1 | $0 |
Col James O'brien Ret Chief Operating Officer | Officer | 2 | $0 |
Regina D Chavis Treasurer/chief Financial | Officer | 2 | $0 |
Maj Gen Joseph G Lynch Ret Secretary | Officer | 2 | $0 |
Lt Gen Dana T Atkins Ret President/ceo | Officer | 1 | $0 |
Radm Richard Buchanan Ret Member | Trustee | 1 | $0 |
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 | $10,402,858 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,402,858 |
| Total Program Service Revenue | $0 |
| Investment income | $205,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,022,910 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,631,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,447,000 |
| 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 | $492,201 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $90,962 |
| Payroll taxes | $35,285 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,898 |
| Fees for services: Accounting | $27,505 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $443,798 |
| Fees for services: Other | $8,439 |
| Advertising and promotion | $61,074 |
| Office expenses | $95 |
| Information technology | $34,625 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,445 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $788 |
| Total functional expenses | $4,252,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,671,970 |
| Savings and temporary cash investments | $5,821,706 |
| Pledges and grants receivable | $125,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $45,058,185 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $97,195,727 |
| Investments—other securities | $5,632,121 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,479,306 |
| Total assets | $166,984,015 |
| Accounts payable and accrued expenses | $4,005 |
| 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 | $1,827,667 |
| Total liabilities | $1,831,672 |
| Net assets without donor restrictions | $127,350,852 |
| Net assets with donor restrictions | $37,801,491 |
| 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 | $166,984,015 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Military Officers Association Of America Scholarship Fund has recieved totaling $54,449.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $29,979 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,803 |
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $6,079 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $588 |
Endowment Analysis
| Beg. Balance | $25,831,631 |
| Earnings | $7,087,290 |
| Net Contributions | $12,390 |
| Grants | -$553,000 |
| Ending Balance | $32,378,311 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Asian And Pacific Islander American Scholarship Fund Washington, DC | $37,686,826 | $13,616,717 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |