Arkansas Bar Foundation
- Assets
- $5.8m
- Revenue
- $182.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Little Rock, AR
- Founding
- 12/1960
- Data as of
- 06/2023
- EIN
- 71-0331442
Organization Overview
Arkansas Bar Foundation is located in Little Rock, AR. The organization was established in 1960. According to its NTEE Classification (I12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Crime & Legal-Related and related organizations. As of 06/2023, Arkansas Bar Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Bar Foundation 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, Arkansas Bar Foundation generated $182.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $265.1k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Arkansas Bar Foundation has awarded 12 individual grants totaling $397,695. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE EXEMPT PURPOSE OF THE ARKANSAS BAR FOUNDATION IS TO PROMOTE THE FOLLOWING EDUCATIONAL, LITERARY, SCIENTIFIC AND CHARITABLE PURPOSES: TO IMPROVE AND FACILITATE THE ADMINISTRATION OF JUSTICE; TO PROMOTE STUDY AND RESEARCH IN THE FIELD OF LAW; THE DIFFUSION OF KNOWLEDGE THEREOF; AND THE CONTINUING EDUCATION OF LAWYERS; TO CAUSE TO BE PUBLISHED AND TO DISTRIBUTE ADDRESSES, REPORTS, TREATISES AND OTHER LITERARY WORKS ON LEGAL SUBJECTS AND TO ACQUIRE, PRESERVE AND EXHIBIT RARE BOOKS AND DOCUMENTS, OBJECTS OF ART, AND ITEMS OF HISTORICAL INTEREST HAVING LEGAL SIGNIFICANCE OR BEARING ON THE ADMINISTRATION OF JUSTICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDED SPECIAL PROJECTS TO IMPROVE THE ADMINISTRATION OF JUSTICE, PROMOTE THE STUDY OF LAW, ENHANCE THE JUDICIAL PROCESS, AND PROMOTE PROFESSIONALISM AMONG ARKANSAS ATTORNEYS. PROJECTS INCLUDE FUNDING EDUCATIONAL PROGRAMS FOR THE ARKANSAS BAR ASSOCIATION ANNUAL MEETING; SUPPORT FOR ARKANSAS BAR ASSOCIATION MOCK TRIAL COMPETITIONS FOR HIGH SCHOOL STUDENTS; CONTINUING EDUCATION OF LAWYERS; AND PARTIAL FUNDING FOR A RURAL PRACTICE INCUBATOR PROJECT, AND FREE LEGAL ANSWERS PROJECT OF ARKANSAS ACCESS TO JUSTICE FOUNDATION. U OF A DELTA INITIATIVE CONSTITUTION DAY AND ARKANSAS MOCK TRIAL FOUNDATION, INC.
SCHOLARSHIP RECOGNITION: SCHOLARSHIP RECIPIENTS AT BOTH LAW SCHOOLS AND THE ENDOWED SCHOLARSHIP RECEIVED WERE RECOGNIZED IN A ONE-PAGE AD IN THE ARKANSAS LAWYER MAGAZINE WHICH IS DISTRIBUTED TO 5,000 ATTORNEYS. THE FOUNDATION MAILED A GLOSS COPY OF THE PAGE TO EACH SCHOLARSHIP DONOR CONTACT.
APPROXIMATELY FIFTY SCHOLARSHIPS PROVIDED FOR LAW STUDENTS AT THE UNIVERSITY OF ARKANSAS AND UNIVERSITY OF ARKANSAS AT LITTLE ROCK.
PROVIDED TWO PROFESSORSHIPS AT UNIVERSITY OF ARKANSAS LAW SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward T Oglesby President | OfficerTrustee | 3 | $0 |
Michael Crawford Vice President | OfficerTrustee | 2 | $0 |
Vicki S Vasser Secretary-Treasurer | OfficerTrustee | 2 | $0 |
Curtis E Hogue Immediate Past President | Trustee | 2 | $0 |
Robert Jones Trust Committee Chair | Trustee | 1.5 | $0 |
Joe Kolb Arkansas Bar Association Past President | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,651 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,414 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,065 |
| Total Program Service Revenue | $0 |
| Investment income | $100,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$19,643 |
| Net Gain/Loss on Asset Sales | $15,246 |
| Net Income from Fundraising Events | -$2,796 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $182,147 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $103,602 |
| 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. | $57,327 |
| Compensation of current officers, directors, key employees. | $8,599 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,628 |
| Pension plan accruals and contributions | $2,862 |
| Other employee benefits | $0 |
| Payroll taxes | $6,177 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,760 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,857 |
| Information technology | $412 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $803 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,877 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $265,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $108,708 |
| Pledges and grants receivable | $35,050 |
| 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 | $6,627 |
| Net Land, buildings, and equipment | $1,841,513 |
| Investments—publicly traded securities | $3,841,760 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,840 |
| Total assets | $5,836,498 |
| Accounts payable and accrued expenses | $83,606 |
| 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 | $0 |
| Total liabilities | $83,606 |
| Net assets without donor restrictions | $3,986,281 |
| Net assets with donor restrictions | $1,766,611 |
| 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 | $5,836,498 |
Grants Awarded
Over the last fiscal year, Arkansas Bar Foundation has awarded $83,861 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF ARKANSAS PURPOSE: PROFESSORSHIP, SCHOLARSHIPS, AND DELTA INITIATIVE PROJECT | $36,916 |
UNIVERSITY OF ARKANSAS AT LITTLE ROCK PURPOSE: PROFESSORSHIP, SCHOLARSHIPS, AND RURAL INCUBATOR PROJECT | $46,945 |