The Etowah Scholarship Foundation Inc
- Assets
- $2.9m
- Revenue
- $567.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Cartersville, GA
- Founding
- 10/1983
- Data as of
- 12/2022
- EIN
- 58-1512861
Organization Overview
The Etowah Scholarship Foundation Inc is located in Cartersville, GA. The organization was established in 1983. 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 12/2022, Etowah Scholarship Foundation Inc employed 5 individuals. This organization is the central organization for a national or regional group of organizations. Etowah Scholarship Foundation 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 12/2022, Etowah Scholarship Foundation Inc generated $567.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $478.3k during the year ending 12/2022. While expenses have increased by 1.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ETOWAH SCHOLARSHIP FOUNDATION IS TO EXPAND POST-SECONDARY EDUCATIONAL OPPORTUNITIES FOR STUDENTS THROUGH COMMUNITY FUNDED AND FOUNDATION SCHOLARSHIPS THAT RESULT IN A CELEBRATION OF EDUCATIONAL SUCCESSES AND IN A POSITVE IMPACT ON THE QUALITY OF LIFE FOR CITIZENS OF OUR COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ETOWAH SCHOLARSHIP FOUNDATION SERVES AS A DISTRIBUTION CHANNEL FOR COLLEGE SCHOLARSHIPS FOR THE BARTOW CO COMMUNITY, IN 2022 WE DISTRUITED $221,950 TO 169 AREA STUDENTS. FOR OVER 40 YEARS WE HAVE SERVED THE COMMUNITY THROUGH INSPIRING YOUNG PEOPLE TO PURSUE A POST SECONDARY EDUCATION. EACH YEAR WE RECOGNIZE HIGH ACHIEVERS IN OUR LOCAL HIGH SCHOOLS BY PRESENTING THEM WITH AN HONOR CORD DURING THEIR HONORS NIGHT TO BE WORN AT GRADUATION. WE SPONSOR THE "REALITY STORE" EVERY FEBRUARY FOR HIGH SCHOOL FRESHMEN IN BARTOW COUNTY. WE PRESENT AT LOCAL HIGH SCHOOLS' STUDENT PARENT INFORMATION NIGHTS TO ENGAGE STUDENTS AND PARENTS IN WHAT THE FOUNDATION OFFERS. WE ALSO VISIT EACH OF THE LOCAL HIGH SCHOOLS TO HELP THEM APPLY FOR OUR SCHOLARSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catrice Hufstetler Chairman | OfficerTrustee | 2 | $0 |
Tony Suber Chair Elect | OfficerTrustee | 1 | $0 |
Frank Bennett Secretary | OfficerTrustee | 1 | $0 |
Mike Fields Board Member | Trustee | 1 | $0 |
Earnestine Jones Board Member | Trustee | 1 | $0 |
Derek Keeney Director Ex-Officio | 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 | $390,865 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $390,865 |
| Total Program Service Revenue | $0 |
| Investment income | $48,960 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $72,074 |
| Net Income from Fundraising Events | $55,316 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $567,215 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $221,950 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $56,936 |
| Compensation of current officers, directors, key employees. | $6,484 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,135 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,665 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,961 |
| Fees for services: Other | $2,209 |
| Advertising and promotion | $27,521 |
| Office expenses | $12,158 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,311 |
| Travel | $643 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,447 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,807 |
| All other expenses | $0 |
| Total functional expenses | $478,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,118 |
| Savings and temporary cash investments | $165,315 |
| 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 | $4,681 |
| Investments—publicly traded securities | $2,394,358 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,888,472 |
| Accounts payable and accrued expenses | $2,269 |
| 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 | $2,269 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,886,203 |
| 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 | $2,888,472 |