Scholarship Foundation Inc
- Assets
- $1.3m
- Revenue
- $21.9k
- Investments
- $1.3m
- Employees
- 0
- Location
- Sheffield, AL
- Founding
- 06/1994
- Data as of
- 06/2023
- EIN
- 58-2110562
Organization Overview
Scholarship Foundation Inc is located in Sheffield, AL. The organization was established in 1994. 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. 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 06/2023, Scholarship Foundation Inc generated $21.9k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $4.5k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Scholarship Foundation Inc has awarded 28 individual grants totaling $191,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS FOR MINISTERIAL STUDIES AT VARIOUS UNIVERSITIES AND CHARITABLE GIVING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howell T Heflin Jr President | 0 | $0 | |
Cornelia Heflin Secretarytreasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $289 |
| Dividends & Interest | $21,562 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,851 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $372 |
| Taxes | $316 |
| Depreciation | $427 |
| Occupancy | $2,400 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $4,540 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,540 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,358 |
| Savings and temporary cash investments | $30,620 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,036 |
| Other assets | $975 |
| Total assets | $1,335,454 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Scholarship Foundation Inc has awarded $69,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NORTH ALABAMA PURPOSE: ELIZABETH C HILL SCHOLARSHIP | $1,000 |
NW SHOALS COMM COLLEGE PURPOSE: SCHOLARSHIP HOWELL HEFLIN MEMORIAL FUND | $50,000 |
ALABAMA SERVICE PROJECT PURPOSE: SCHOLARSHIP FINANCIAL AID1000 | $1,000 |
UNIVERSITY OF ALABAMA SCHOLAR FOUND PURPOSE: SCHOLARSHIP HOWELL HEFLIN ENDOWED FUND | $1,000 |
NATIONAL ALUMNI ASSOC PURPOSE: SCHOLARSHIP RONALD C HOOD1000 | $5,000 |
UNIVERISITY OF NORTH ALABAMA PURPOSE: SCHOLARSHIP ML KING | $4,000 |