Ruth Veasey Educational Foundation Inc
- Assets
- $1.7m
- Revenue
- $675.4k
- Investments
- $12.0k
- Employees
- 0
- Location
- Dermott, AR
- Founding
- 04/1963
- Data as of
- 05/2024
- EIN
- 71-6051103
Organization Overview
Ruth Veasey Educational Foundation Inc is located in Dermott, AR. The organization was established in 1963. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Ruth Veasey Educational Foundation 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 05/2024, Ruth Veasey Educational Foundation Inc generated $675.4k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 28.0% each year . All expenses for the organization totaled $234.4k during the year ending 05/2024. While expenses have increased by 5.9% per year over the past 9 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, Ruth Veasey Educational Foundation Inc has awarded 640 individual grants totaling $4,581,997. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP LOANS TO QUALIFYING INDIVIDUALS.
RELATED ADMINISTRATIVE EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melanie Proffitt Director | 0 | $0 | |
Bill Burchfield Director | 0 | $0 | |
Jill Jackson Director | 0 | $0 | |
Mike Smith President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,192 |
| Dividends & Interest | $24,358 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $551,894 |
| Capital Gain Net Income | $551,894 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $97,918 |
| Total Revenue | $675,362 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,026 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50,991 |
| Total operating and administrative expenses | $66,912 |
| Contributions, gifts, grants paid | $167,501 |
| Total expenses and disbursements | $234,413 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,871 |
| Savings and temporary cash investments | $517,889 |
| 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 | $1,050,773 |
| 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 | $0 |
| Total assets | $1,654,525 |
| 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 | $6,426 |
| Total liabilities | $6,426 |
Grants Awarded
Over the last fiscal year, Ruth Veasey Educational Foundation Inc has awarded $340,003 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
ANDERSON CLAYTON PURPOSE: STUDENT LOANS | $5,000 |
BURDAN MARY ASHTON PURPOSE: STUDENT LOANS | $5,000 |
BOOK MAKAILA RICHELLE PURPOSE: STUDENT LOANS | $5,000 |
BURTON KAITLIN BETH PURPOSE: STUDENT LOANS | $5,000 |
GROVES CAROLINE ELIZABETH PURPOSE: STUDENT LOANS | $5,000 |
FABICK ANNA LAUREN PURPOSE: STUDENT LOANS | $5,000 |