Student Loan Guarantee Foundation Of Arkansas
- Assets
- $4.5m
- Revenue
- $170.2k
- Investments
- $3.6m
- Employees
- 17
- Location
- North Little Rock, AR
- Founding
- 09/1967
- Data as of
- 09/2023
- EIN
- 71-0394768
Organization Overview
Student Loan Guarantee Foundation Of Arkansas is located in North Little Rock, AR. The organization was established in 1967. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2023, Student Loan Guarantee Foundation Of Arkansas employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Student Loan Guarantee Foundation Of Arkansas 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, Student Loan Guarantee Foundation Of Arkansas generated $170.2k 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 (3.8%) each year. All expenses for the organization totaled $558.0k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (16.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Student Loan Guarantee Foundation Of Arkansas has awarded 26 individual grants totaling $522,040. 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
THE FOUNDATION SELECTED UNIVERSITIES IN ARKANSAS TO PARTICIPATE IN A PILOT PROGRAM TO FUND SCHOLARSHIPS TO STUDENTS WHO HAD PREVIOUSLY DROPPED OUT OF SCHOOL AND WERE IN NEED OF FINANCIAL AID TO COMPLETE THEIR COURSE OF STUDY. STUDENTS WERE SELECTED BY COMMITTEES FROM THEIR RESPECTIVE UNIVERSITIES, EACH OF WHOM WAS TO RECEIVE UP TO $5,000 PER SEMESTER IN ORDER TO COMPLETE THEIR DEGREE. THE FOUNDATION INTENDS TO ENCOURAGE THE INSTITUTIONS TO INCREASE THE DISTRIBUTION OF SCHOLARSHIP FUNDS.DURING THE FISCAL YEAR ENDED 9/30/2023, TWENTY FOUR SCHOOLS COMPOSED OF BOTH PUBLIC AND PRIVATE INSTITUTIONS WERE INVITED TO PARTICIPATE. A TOTAL OF 51 SCHOLARSHIPS WERE FUNDED AS A RESULT OF THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Mark Ryan President | 1 | $3,285 | |
Dr Samuel Howell Vice-President | 1 | $3,285 | |
Dr Tom Bishop Director | 1 | $3,285 | |
Ms Susan Balest Secretary | 1 | $3,285 | |
Ms Kimbery Elrod Executive Director | 40 | $131,991 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $155,329 |
| Dividends & Interest | $13,615 |
| 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 | $1,274 |
| Total Revenue | $170,218 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $145,131 |
| Other employee salaries and wages | $53,449 |
| Pension plans, employee benefits | $17,302 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $2,483 |
| Occupancy | $24,060 |
| Travel, conferences, and meetings | $3,333 |
| Printing and publications | $0 |
| Other expenses | $41,944 |
| Total operating and administrative expenses | $373,243 |
| Contributions, gifts, grants paid | $184,800 |
| Total expenses and disbursements | $558,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $808,196 |
| Net Accounts receivable | $2,369 |
| 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 | $9,761 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $96,318 |
| Net Land, buildings, and equipment | $6,484 |
| Other assets | $41,872 |
| Total assets | $4,514,204 |
| Accounts payable and accrued expenses | $28,154 |
| 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 | $41,872 |
| Total liabilities | $70,026 |
Grants Awarded
Over the last fiscal year, Student Loan Guarantee Foundation Of Arkansas has awarded $184,800 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
HENDERSON STATE UNIVERSITY PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2023. | $5,000 |
PHILANDER SMITH COLLEGE PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2023. | $5,000 |
SOUTHERN ARKANSAS UNIVERSITY PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2023. | $17,980 |
UNIVERSITY OF ARKANSAS AT FORT SMITH PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2023. | $8,780 |
UNIVERSITY OF ARKANSAS GRANTHAM PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2023. | $1,260 |
UNIVERSITY OF CENTRAL ARKANSAS PURPOSE: TO AWARD SCHOLARSHIPS OF UP TO $5,000 PER SEMESTER PER STUDENT IN THE FISCAL YEAR ENDED 9/30/2023. | $125,480 |