Coca-Cola Scholars Foundation Inc
- Assets
- $71.6m
- Revenue
- $31.6m
- Investments
- $0.0
- Employees
- 6
- Location
- Atlanta, GA
- Founding
- 09/1986
- Data as of
- 12/2021
- 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 12/2021, Coca-Cola Scholars Foundation Inc employed 6 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 12/2021, Coca-Cola Scholars Foundation Inc generated $31.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $4.8m 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
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 2021, THE COCA-COLA SCHOLARS FOUNDATION MADE PAYMENTS TOTALING $2,463,640 FOR THE COCA-COLA SCHOLARS FOUNDATION SCHOLARSHIPS, CRAWFORD T. JOHNSON, III SCHOLARSHIPS, AND CORINTH SCHOLARSHIP. IN 2021, THE COCA-COLA SCHOLARS FOUNDATION ALSO CONTRIBUTED $440,750 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 | $211,527 |
James Williams Director | 40 | $145,346 | |
Laquanda Prince Treasurer | Officer | 40 | $96,825 |
Josh Dorminy Board Member | Trustee | 1 | $0 |
Junior Bridgeman Board Member | Trustee | 1 | $0 |
Mark Francoeur 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 | $29,197,558 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,222,558 |
| Total Program Service Revenue | $0 |
| Investment income | $1,260,183 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,116,444 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,599,185 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $440,750 |
| Grants and other assistance to domestic individuals. | $2,463,640 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $400,038 |
| Compensation of current officers, directors, key employees. | $120,011 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $522,722 |
| Pension plan accruals and contributions | $38,737 |
| Other employee benefits | $0 |
| Payroll taxes | $50,606 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $15,115 |
| Fees for services: Investment Management | $117,102 |
| Fees for services: Other | $232,106 |
| Advertising and promotion | $0 |
| Office expenses | $15,202 |
| Information technology | $174,613 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,112 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,410 |
| Insurance | $39,622 |
| All other expenses | $5,459 |
| Total functional expenses | $4,833,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,793,038 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $271,632 |
| 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 | $44,903 |
| Net Land, buildings, and equipment | $20,359 |
| Investments—publicly traded securities | $40,475,536 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $71,605,468 |
| Accounts payable and accrued expenses | $2,446,253 |
| 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 | $2,604,733 |
| Net assets without donor restrictions | $67,142,526 |
| Net assets with donor restrictions | $1,858,209 |
| 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 | $71,605,468 |
Grants Awarded
Over the last fiscal year, Coca-Cola Scholars Foundation Inc has awarded $431,167 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Jackson, MS | | $400,000 |
Washington, DC | | $31,167 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Coca-Cola Scholars Foundation Inc has recieved totaling $8,634.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,634 |
Endowment Analysis
| Net Contributions | $27,833,316 |
| Ending Balance | $27,833,316 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Amity Medical Group Inc Charlotte, NC | $3,300,228 | $10,911,191 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |