Basil L King Scholarship Foundation Inc
- Assets
- $5.9m
- Revenue
- $122.3k
- Investments
- $5.0m
- Employees
- 0
- Location
- Ft Pierce, FL
- Founding
- 01/1973
- Data as of
- 09/2023
- EIN
- 59-0651084
Organization Overview
Basil L King Scholarship Foundation Inc is located in Ft Pierce, FL. The organization was established in 1973. 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. Basil L King 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 09/2023, Basil L King Scholarship Foundation Inc generated $122.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $300.5k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Basil L King Scholarship Foundation Inc has awarded 64 individual grants totaling $1,971,382. 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 STUDENTS PURSUING A CAREER IN THE MEDICAL PROFESSION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank H Fee III Chairman,dir | 1 | $0 | |
Bruce Abernethy Jr Dir | 1 | $0 | |
Jimmie Anne Haisley Executive Di | 10 | $24,000 | |
Ann Decker Dir | 1 | $0 | |
Karen Ripper Dir | 1 | $0 | |
Eilean Clark Dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $120,260 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,063 |
| Capital Gain Net Income | $2,063 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $122,323 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $24,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,643 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $257 |
| Printing and publications | $0 |
| Other expenses | $3,088 |
| Total operating and administrative expenses | $74,859 |
| Contributions, gifts, grants paid | $225,638 |
| Total expenses and disbursements | $300,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,218 |
| Savings and temporary cash investments | $256,373 |
| 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 | $0 |
| Other assets | $567,334 |
| Total assets | $5,896,540 |
| 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, Basil L King Scholarship Foundation Inc has awarded $225,638 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
ARIZONA COLLEGE OF NURSING PURPOSE: SCHOLARSHIP FOR MEDICAL STUDY | $2,000 |
AT STILL UNIVERSITY PURPOSE: SCHOLARSHIP FOR MEDICAL STUDY | $2,000 |
BROWARD COLLEGE PURPOSE: SCHOLARSHIP FOR MEDICAL STUDY | $2,000 |
FLORIDA A&M UNIVERSITY PURPOSE: SCHOLARSHIP FOR MEDICAL STUDY | $11,700 |
CAPELLA UNIVERSITY PURPOSE: SCHOLARSHIP FOR MEDICAL STUDY | $4,500 |
CHAMBERLAIN UNIVERSITY PURPOSE: SCHOLARSHP FOR MEDICAL STUDY | $4,500 |