Ron Brown Scholar Fund
- Assets
- $22.5m
- Revenue
- $4.3m
- Investments
- $21.1m
- Employees
- 28
- Location
- Charlottesville, VA
- Founding
- 08/2014
- Data as of
- 12/2020
- EIN
- 54-1832314
Organization Overview
Ron Brown Scholar Fund is located in Charlottesville, VA. 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. As of 12/2021, Ron Brown Scholar Fund employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ron Brown Scholar 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, Ron Brown Scholar Fund generated $4.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.6m during the year ending 12/2020. While expenses have increased by 3.8% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE RON BROWN SCHOLAR PROGRAM IS TO ACCELERATE THE PROGRESS OF AFRICAN AMERICANS INTO THE MAINSTREAM OF LEADERSHIP IN BUSINESS, EDUCATION, GOVERNMENT, AND A WIDE SPECTRUM OF PROFESSIONS WHILE INSTILLING A STRONG DEDICATION TO LEADERSHIP AND PUBLIC SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP GRANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael A Mallory President & CEO | Officer | 40 | $298,344 |
Dane Holmes Trusteechairman | Trustee | 0 | $0 |
Jordan Goldberg Treasurer | Trustee | 0 | $0 |
Nicole Bates Vice Chair | Trustee | 0 | $0 |
Aaron S Williams Secretary | Trustee | 0 | $0 |
Vanessa M Evans Assist. Secretary | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,438,405 |
| Investment income | $559,325 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $64,287 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,268,717 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $712,845 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $259,429 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $848,958 |
| Pension plan accruals and contributions | $34,118 |
| Other employee benefits | $130,298 |
| Payroll taxes | $72,309 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110 |
| Fees for services: Accounting | $67,838 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $66,167 |
| Fees for services: Other | $42,535 |
| Advertising and promotion | $5,107 |
| Office expenses | $11,411 |
| Information technology | $79,086 |
| Royalties | $0 |
| Occupancy | $40,589 |
| Travel | $94,896 |
| 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 | $1,432 |
| All other expenses | $0 |
| Total functional expenses | $2,632,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,512 |
| Savings and temporary cash investments | $968,641 |
| Pledges and grants receivable | $367,500 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $21,057,533 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,480,186 |
| Accounts payable and accrued expenses | $47,603 |
| Grants payable | $732,781 |
| 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 | $50,833 |
| Total liabilities | $831,217 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $21,648,969 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ron Brown Scholar Fund has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Peters Pharis Foundation Los Angeles, CA PURPOSE: UNRESTRICTED GRANT TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $35,000 |
Endowment Analysis
| Beg. Balance | $14,027,855 |
| Earnings | -$218,532 |
| Net Contributions | $232,771 |
| Other Expense | $825,000 |
| Ending Balance | $13,217,094 |
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 |