Sponsors For Academic Talent Inc
- Assets
- $558.1k
- Revenue
- $96.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Jacksonville, NC
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 56-1454833
Organization Overview
Sponsors For Academic Talent Inc is located in Jacksonville, NC. The organization was established in 1992. 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. Sponsors For Academic Talent Inc 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, Sponsors For Academic Talent Inc generated $96.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $39.8k 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
THIS ORGANIZATION AWARDS SCHOLARSHIPS TO ONSLOW HIGH SCHOOL SENIORS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIS ORGANIZATION AWARDS SCHOLARSHIPS TO ONSLOW COUNTY HIGH SCHOOL SENIORS WHO PERFORM 100 HOURS OF COMMUNITY SERVICE AT APPROVED NON-PROFIT AGENCIES IN ONSLOW COUNTY, ATTAIN A 3.5 GPA, SCORE 1100 OR HIGHER ON SAT EXAM, AND IS A NORTH CAROLINA SCHOLAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Hambright Vice Preside | Trustee | 5 | $0 |
Ann Maready President | Trustee | 5 | $0 |
Brent Anderson Executive Di | Trustee | 5 | $0 |
Peggy Kelley Past Preside | Trustee | 5 | $0 |
Edie Marshburn Treasurer | Trustee | 5 | $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 | $75,674 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,674 |
| Total Program Service Revenue | $0 |
| Investment income | $20,442 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $96,116 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $157 |
| 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 | $39,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,438 |
| Savings and temporary cash investments | $407,618 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $558,056 |
| 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 | $558,056 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $558,056 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sponsors For Academic Talent Inc has recieved totaling $18,440.
| Awarding Organization | Amount |
|---|---|
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: EDUCATION | $18,440 |
Endowment Analysis
| Beg. Balance | $405,367 |
| Earnings | $56,503 |
| Admin Expense | $4,353 |
| Grants | $18,440 |
| Ending Balance | $439,077 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
South Carolina Educational Credit For Exceptional Needs Children Fun Columbia, SC | $1,181,238 | $5,546,279 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |