Friends Of 440 Scholarship Fund Inc
- Assets
- $568.6k
- Revenue
- $59.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Miami, FL
- Founding
- 05/1992
- Data as of
- 03/2022
- EIN
- 65-0319696
Organization Overview
Friends Of 440 Scholarship Fund Inc is located in Miami, FL. The organization was established in 1992. 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. Friends Of 440 Scholarship Fund 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 03/2022, Friends Of 440 Scholarship Fund Inc generated $59.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.0%) each year. All expenses for the organization totaled $100.0k during the year ending 03/2022. 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
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE EDUCATIONAL SCHOLARSHIPS FOR FINANCIALLY NEEDY DEPENDENTS OF WORKERS WHO HAVE BEEN INJURED IN THE COURSE OF THEIR EMPLOYMENT AND AS A RESULT HAVE RECEIVED WORKERS' COMPENSATION BENEFITS UNDER FLORIDA LAW AND WHO RESIDE, OR WHOSE WORK-RELATED INJURIES OCCURRED IN FLORIDA. IN ADDITION, SUCH SCHOLARSHIPS MAY ALSO BE PROVIDED TO FINANCIALLY NEEDY DEPENDENTS OF INDIVIDUALS PRIMARILY ENGAGED IN THE OPERATION OR ADMINISTRATION OF FLORIDA'S WORKERS' COMPENSATION LAWS. THE SCHOLARSHIPS WILL BE AWARDED TO ELIGIBLE INDIVIDUALS WHO LACK THE ECONOMIC ABILITY TO CONTINUE EDUCATION BEYOND HIGH SCHOOL OR TO FURTHER THEIR COLLEGE EDUCATION WITHOUT GREAT FINANCIAL HARDSHIP AND WHO BEST EMBODY THE FOLLOWING CHARACTERISTICS: (I) GOOD CHARACTER AND CITIZENSHIP, (II) THE ACADEMIC ABILITY TO COMPLETE THE INDIVIDUAL'S CONTEMPLATED PROGRAM OF EDUCATION, AND (III)EXTRACURRICULAR ACTIVITIES, ETC. IN ORDER TO ENSURE THAT NO PART OF THE NET EARNINGS OF THE ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AWARDED - SEE ABOVE STATEMENT
SEE ORGANIZATION'S MISSION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Clark Chair-Ft.mey | OfficerTrustee | $0 | |
Robert Bamdas Chair-Palm B | OfficerTrustee | $0 | |
Annamarie Kim Secretary | OfficerTrustee | $0 | |
W Ray Holley VP Scholarsh | OfficerTrustee | $0 | |
Alan M Kuker Ex-Officio | OfficerTrustee | 0 | $0 |
Paolo Longo Treasurer-Or | OfficerTrustee | $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 | $20,733 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,733 |
| Total Program Service Revenue | $0 |
| Investment income | $16,844 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,388 |
| Net Income from Fundraising Events | -$444 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,521 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $43,121 |
| 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 | $34,616 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,668 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $5,500 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $258 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $3,322 |
| Total functional expenses | $99,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,807 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $485,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $568,649 |
| Accounts payable and accrued expenses | $233 |
| Grants payable | $0 |
| 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 | $13,236 |
| Total liabilities | $13,469 |
| Net assets without donor restrictions | $555,180 |
| 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 | $568,649 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of 440 Scholarship Fund Inc has recieved totaling $7.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $7 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Broward Education Foundation Inc Fort Lauderdale, FL | $12,469,303 | $5,256,121 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |
Uab Research Foundation Birmingham, AL | $14,400,184 | $5,771,462 |
Eminent Scholars Foundation Huntsville, AL | $0 | $754,182 |
Arete Scholars Fund Dacula, GA | $8,445,771 | $4,355,145 |
The Fund For Theological Education Inc Decatur, GA | $34,735,752 | $8,780,727 |
Gwinnett County Public Schools Foundation Fund Inc Suwanee, GA | $3,101,670 | $4,575,972 |
Florida Education Fund Inc Tampa, FL | $23,479,749 | $5,657,591 |