Coca-Cola Scholars Foundation Inc
- Assets
- $66.7m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Atlanta, GA
- Founding
- 09/1986
- Data as of
- 12/2022
- EIN
- 58-1686023
Organization Overview
Coca-Cola Scholars Foundation Inc is located in Atlanta, GA. The organization was established in 1986. 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, Coca-Cola Scholars Foundation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coca-Cola Scholars 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, Coca-Cola Scholars Foundation Inc generated $8.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $5.0m during the year ending 12/2022. 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
TO DEVELOP AN INFLUENTIAL COMMUNITY OF SERVICE-MINDED LEADERS, CONNECTED BY COCA-COLA, WHO POSITIVELY SHAPE THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2022, THE COCA-COLA SCHOLARS FOUNDATION MADE PAYMENTS TOTALING $2,505,624 FOR THE COCA-COLA SCHOLARS FOUNDATION SCHOLARSHIPS, CRAWFORD T. JOHNSON, III SCHOLARSHIPS, AND CORINTH SCHOLARSHIP. IN 2022, THE COCA-COLA SCHOLARS FOUNDATION ALSO CONTRIBUTED $437,250 TO PHI THETA KAPPA. THESE CONTRIBUTIONS WILL BE USED BY PHI THETA KAPPA AND AACC TO PROVIDE 350 SCHOLARSHIPS TO TWO-YEAR COLLEGE STUDENTS CURRENTLY ENROLLED IN A TWO-YEAR INSTITUTION OR MAKING THE TRANSITION FROM A TWO-YEAR COLLEGE TO A FOUR-YEAR UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane H Hopkins President & Secretary | Officer | 40 | $230,000 |
James Williams Director | 40 | $146,235 | |
Laquanda Prince Treasurer | Officer | 40 | $98,148 |
Junior Bridgeman Board Member | Trustee | 1 | $0 |
Mark Francoeur Board Member | Trustee | 1 | $0 |
Lisa Chang Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $25,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,633,195 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,658,195 |
| Total Program Service Revenue | $0 |
| Investment income | $1,578,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$542,546 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,693,738 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $437,250 |
| Grants and other assistance to domestic individuals. | $2,505,624 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $428,731 |
| Compensation of current officers, directors, key employees. | $128,619 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $486,562 |
| Pension plan accruals and contributions | $65,953 |
| Other employee benefits | $114,133 |
| Payroll taxes | $56,861 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $119,413 |
| Fees for services: Other | $314,143 |
| Advertising and promotion | $0 |
| Office expenses | $7,987 |
| Information technology | $171,280 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,663 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,070 |
| Insurance | $42,627 |
| All other expenses | $3,324 |
| Total functional expenses | $5,006,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $681,715 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $197,739 |
| 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 | $45,638 |
| Net Land, buildings, and equipment | $10,289 |
| Investments—publicly traded securities | $65,769,037 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $66,704,418 |
| Accounts payable and accrued expenses | $300,541 |
| Grants payable | $158,480 |
| 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 | $459,021 |
| Net assets without donor restrictions | $64,604,603 |
| Net assets with donor restrictions | $1,640,794 |
| 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 | $66,704,418 |
Grants Awarded
Over the last fiscal year, Coca-Cola Scholars Foundation Inc has awarded $431,167 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PHI THETA KAPPA | | | $400,000 |
AMERICAN ASSOCIATION OF COMMUNITY COLLEGES | | | $31,167 |