The Arkansas Single Parent Scholarship Fund
- Assets
- $12.3m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 21
- Location
- Springdale, AR
- Founding
- 11/1991
- Data as of
- 12/2021
- EIN
- 71-0704088
Organization Overview
The Arkansas Single Parent Scholarship Fund is located in Springdale, AR. The organization was established in 1991. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Arkansas Single Parent Scholarship Fund employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Single Parent Scholarship Fund 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, Arkansas Single Parent Scholarship Fund generated $7.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.9% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. While expenses have increased by 5.4% 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.
Since 2015, Arkansas Single Parent Scholarship Fund has awarded 57 individual grants totaling $1,375,343. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ARKANSAS SINGLE PARENT SCHOLARSHIP FUND IS TO ENABLE SINGLE PARENTS TO OBTAIN SELF-SUFFICIENCY THROUGH POST SECONDARY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARKANSAS SINGLE PARENT SCHOLARSHIP FUND ASSISTS LOW INCOME SINGLE PARENTSMOVE FROM A LIFE OF DEPENDENCY-DEPENDENT ON TAX-FUNDED STATE AND FEDERALASSISTANCE PROGRAMS AND LOCAL SOCIAL SERVICES - TO ONE OF SELF-SUFFICIENCYAS THEY BECOME TAX-PAYING PROFESSIONALS PROUDLY SUPPORTING THEIR FAMILIESON THEIR OWN. WE ACCOMPLISH THIS BY ASSISTING SINGLE PARENTS TO COMPLETETHEIR TWO OR FOUR-YEAR COLLEGE DEGREES OR PROFESSIONAL CERTIFICATES,OPENING DOORS TO NEW EMPLOYMENT AT WAGES ABOVE THE POVERTY LEVEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruthanne Hill Executive Director | Officer | 40 | $110,426 |
Tony Thomas President | OfficerTrustee | 2 | $0 |
Mike Weaver Treasurer | OfficerTrustee | 2 | $0 |
Sunshine Bartlett Secretary | OfficerTrustee | 2 | $0 |
Betsy Baker Vice President | OfficerTrustee | 2 | $0 |
Dr Charles Donaldson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,421 |
| Government grants | $566,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,702,359 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,272,980 |
| Total Program Service Revenue | $0 |
| Investment income | $68,861 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $191,390 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,533,231 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,559 |
| 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. | $110,246 |
| Compensation of current officers, directors, key employees. | $41,342 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $903,360 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $146,761 |
| Payroll taxes | $74,201 |
| 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 | $37,218 |
| Fees for services: Other | $85,856 |
| Advertising and promotion | $39,778 |
| Office expenses | $49,555 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,360 |
| Travel | $32,364 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,540 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,401 |
| Insurance | $6,669 |
| All other expenses | $239 |
| Total functional expenses | $3,202,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,398 |
| Savings and temporary cash investments | $1,000,906 |
| Pledges and grants receivable | $5,946,220 |
| 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 | $10,463 |
| Net Land, buildings, and equipment | $25,098 |
| Investments—publicly traded securities | $5,060,287 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,312,372 |
| Accounts payable and accrued expenses | $147,296 |
| 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 | $118,305 |
| Total liabilities | $265,601 |
| Net assets without donor restrictions | $947,866 |
| Net assets with donor restrictions | $11,098,905 |
| 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 | $12,312,372 |
Grants Awarded
Over the last fiscal year, The Arkansas Single Parent Scholarship Fund has awarded $33,559 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Bentonville, AR PURPOSE: FUND GRANTS PAID TO SINGLE PARENT RECIPIENTS | $21,304 |
Searcy, AR PURPOSE: FUND GRANTS PAID TO SINGLE PARENT RECIPIENTS | $5,036 |
JEFFERSON COUNTY SPSF PURPOSE: FUND GRANTS PAID TO SINGLE PARENT RECIPIENTS | $3,949 |
Yellville, AR PURPOSE: FUND GRANTS PAID TO SINGLE PARENT RECIPIENTS | $2,138 |
Dermott, AR PURPOSE: FUND GRANTS PAID TO SINGLE PARENT RECIPIENTS | $742 |
SEVIER COUNTY SPSF PURPOSE: FUND GRANTS PAID TO SINGLE PARENT RECIPIENTS | $390 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that The Arkansas Single Parent Scholarship Fund has recieved totaling $2,073,662.
| Awarding Organization | Amount |
|---|---|
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT | $1,936,604 |
Fund For Southern Communities Inc Decatur, GA PURPOSE: BLACK GIRL DREAM FUND | $47,400 |
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: GENERAL OPERATING SUPPORT - MATCHING GRANT | $25,000 |
Arkansas Community Foundation Inc Little Rock, AR PURPOSE: TO ENDOW THE CROSS COUNTY SINGLE PARENT SCHOLARSHIP PROJECT | $17,587 |
Schmieding Foundation Term Springdale, AR PURPOSE: VARIOUS | $10,800 |
Arnold Rogers & Smith Family Foundation North Little Rock, AR PURPOSE: EDUCATION | $10,000 |
Endowment Analysis
| Beg. Balance | $3,875,269 |
| Earnings | $652,059 |
| Net Contributions | $126,056 |
| Other Expense | $249,652 |
| Ending Balance | $4,403,732 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |