Institute Of Student Financial Aid Inc
- Assets
- $8.6m
- Revenue
- $720.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Decatur, GA
- Founding
- 04/1997
- Data as of
- 12/2021
- EIN
- 58-2248174
Organization Overview
Institute Of Student Financial Aid Inc is located in Decatur, GA. The organization was established in 1997. 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. Institute Of Student Financial Aid 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, Institute Of Student Financial Aid Inc generated $720.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $502.5k during the year ending 12/2021. While expenses have increased by 5.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO TRAIN, INFORM AND DIRECT HISTORICALLY BLACK COLLEGES AND UNIVERSITIES (HBCUS') AND THE PUBLIC IN ALL AREAS OF STUDENT FINANCIAL AID LAWS AND REGULATIONS. TO ASSIST AND HELP OTHER NON-PROFIT ORGANIZATIONS IN UNDERSTANDING AND MAINTAINING SOUND INTERNAL FINANCIAL CONTROLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THIS ORGANIZATION IS TO INFORM, TRAIN, AND EDUCATE PARENTS AND STUDENTS IN THE AREA OF POST-SECONDARY EDUCATIONAL OPPORTUNITIES, PARTICULARLY MINORITY HIGH SCHOOL STUDENTS AND FACULTY. ALSO ASSISTS HBCUS IN FINANCIAL AID ADMINISTRATIVE PROCEDURES,TECHNICAL PROCEDURES AND REPRESENTATION OF INSTITUTIONS BEFORE GOVERNMENTAL AGENCIES. TO ESTABLISH FINANCIAL SYSTEMS AND ASSIST NON-PROFITS IN THE THE UNDERSTANDING OF ACCURATE AND PROPER FINANCIAL AND STATISTICAL REPORTING. TO ESTABLISH A FINANCIAL REPORTING MODEL FOR COMMUNITY ACTION AGENCIES THROUGH OUT THE UNITED STATES.
TO ASSIST HBCU'S IN UNDERSTANDING AND MAINTAINING COMPLIANCE WITH THE TITLE IV REGULATIONS OF THE HIGHER EDUCATION ACT AND CODE OF FEDERAL REGULATIONS. TO TRAIN AND EDUCATE THE STUDENTS, PARENTS AND OTHERS IN THE AREA OF POST- SECONDARY EDUCATIONAL OPPORTUNITIES,PARTICULARLY MINORITY AND DISADVANTAGED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Clausell Director | Trustee | 10 | $2,000 |
James Clausell Jr Director | OfficerTrustee | 15 | $0 |
Tracey Dixon Director | OfficerTrustee | 15 | $0 |
Louise Farmer Director | Trustee | 2 | $0 |
Carl Gamble Director | Trustee | 2 | $0 |
Mitch Mckinney Director | Trustee | 2 | $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 | $712,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $712,094 |
| Total Program Service Revenue | $0 |
| Investment income | $7,933 |
| 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 | $720,027 |
| 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 | $2,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $199 |
| Fees for services: Management | $55,000 |
| 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 | $45,976 |
| Advertising and promotion | $0 |
| Office expenses | $1,179 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $136,730 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,980 |
| Interest | $123,378 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $136,082 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $502,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $904,401 |
| Savings and temporary cash investments | $1,413,553 |
| 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 | $2,310,611 |
| Investments—publicly traded securities | $5,563,097 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$1,598,325 |
| Total assets | $8,593,337 |
| Accounts payable and accrued expenses | $195 |
| Grants payable | $0 |
| Deferred revenue | $68,370 |
| 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 | $3,700,781 |
| Total liabilities | $3,769,346 |
| Net assets without donor restrictions | $4,823,991 |
| 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 | $8,593,337 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Institute Of Student Financial Aid Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
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 |