Arkansas Farm Bureau Scholarship Foundation
- Assets
- $981.9k
- Revenue
- $99.1k
- Investments
- $884.9k
- Employees
- 0
- Location
- Little Rock, AR
- Founding
- 09/2003
- Data as of
- 10/2023
- EIN
- 71-0888051
Organization Overview
Arkansas Farm Bureau Scholarship Foundation is located in Little Rock, AR. The organization was established in 2003. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Farm Bureau Scholarship 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 10/2023, Arkansas Farm Bureau Scholarship Foundation generated $99.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $64.5k during the year ending 10/2023. While expenses have increased by 18.3% per year over the past 8 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 2016, Arkansas Farm Bureau Scholarship Foundation has awarded 177 individual grants totaling $288,500. 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
TO ESTABLISH AND MAINTAIN A COLLEGE SCHOLARSHIP FUND TO PROVIDE FINANCIAL ASSISTANCE TO STUDENTS PURSUING STUDIES IN AGRICULTURE AS AN UNDERGRADUATE OR GRADUATE STUDENT AT A COLLEGE, UNIVERSITY, OR OTHER QUALIFYING EDUCATIONAL INSTITUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rich Hillman President | 0.5 | $0 | |
Mike Freeze Vice-President | 0.5 | $0 | |
Dan Wright Secretary/treasurer | 0.5 | $0 | |
Matthew King Director, Interim | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,025 |
| Interest on Savings | $14,192 |
| Dividends & Interest | $34,885 |
| 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 | $0 |
| Total Revenue | $99,102 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $642 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,549 |
| Contributions, gifts, grants paid | $61,000 |
| Total expenses and disbursements | $64,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $89,039 |
| 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 | $7,989 |
| Total assets | $981,887 |
| 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 | $163 |
| Total liabilities | $163 |
Grants Awarded
Over the last fiscal year, Arkansas Farm Bureau Scholarship Foundation has awarded $61,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AINSLEY PURIFOY CO SOUTHERN ARKANSA PURPOSE: SCHOLARSHIP | $4,500 |
HANNAH HARRISON CO ARKANSAS TECH UN PURPOSE: SCHOLARSHIP | $2,500 |
ALLEE SOUTHERLAND CO ARKANSAS TECH PURPOSE: SCHOLARSHIP | $4,500 |
BLAKE SWAIN CO SOUTHERN ARKANSAS UN PURPOSE: SCHOLARSHIP | $2,000 |
CAITLYN SIMON CO UNIVERSITY OF ARKA PURPOSE: SCHOLARSHIP | $2,000 |
BROOKE BRADFORD CO UNIVERSITY OF AR PURPOSE: SCHOLARSHIP | $4,500 |