Fay T Barnes Scholarship Fund
- Assets
- $2.5m
- Revenue
- $214.3k
- Investments
- $2.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1983
- Data as of
- 12/2021
- EIN
- 74-2256469
Organization Overview
Fay T Barnes Scholarship Fund is located in Chicago, IL. The organization was established in 1983. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Fay T Barnes 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, Fay T Barnes Scholarship Fund generated $214.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $182.5k during the year ending 12/2021. While expenses have increased by 1.9% per year over the past 6 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 2017, Fay T Barnes Scholarship Fund has awarded 223 individual grants totaling $785,761. 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $93,576 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $119,934 |
| Capital Gain Net Income | $119,934 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $771 |
| Total Revenue | $214,281 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $43,516 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,248 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $272 |
| Total operating and administrative expenses | $49,536 |
| Contributions, gifts, grants paid | $133,000 |
| Total expenses and disbursements | $182,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,846 |
| Savings and temporary cash investments | $37,160 |
| 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 | $151,536 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $26 |
| Total assets | $2,511,330 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Fay T Barnes Scholarship Fund has awarded $133,000 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
HADIS ASKARI PURPOSE: SCHOLARSHIP | $5,250 |
ALI ASKARI PURPOSE: SCHOLARSHIP | $5,250 |
LILIANA DIAZ PURPOSE: SCHOLARSHIP | $5,250 |
JANSSEN FANG PURPOSE: SCHOLARSHIP | $5,250 |
ASIA DOCKERY PURPOSE: SCHOLARSHIP | $3,500 |
BRANDI NGUYEN PURPOSE: SCHOLARSHIP | $3,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |