Psi Alpha Scholarship Foundation
- Assets
- $255.1k
- Revenue
- $262.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- 05/1991
- Data as of
- 12/2022
- EIN
- 74-2560683
Organization Overview
Psi Alpha Scholarship Foundation is located in San Antonio, TX. The organization was established in 1991. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Psi Alpha 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 12/2022, Psi Alpha Scholarship Foundation generated $262.5k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 58.7% each year . All expenses for the organization totaled $208.1k during the year ending 12/2022. While expenses have increased by 66.4% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSES FOR WHICH THIS CORPORATION IS INCORPORATED ARE THOSE SET FORTH IN THE ARTICLES OF INCORPORATION. SPECIFICALLY, THE CORPORATION WAS FORMED FOR THE EXPRESS PURPOSE OF PROVIDING SCHOLARSHIPS TO HIGH-SCHOOL SENIORS, AND WHEN APPROPRIATE, TO PROVIDE SUPPLEMENTARY SCHOLARSHIPS FOR THESE INDIVIDUALS THROUGHOUT THEIR COLLEGE CAREER. THESE SCHOLARSHIPS WILL BE AWARDED DIRECTLY TO INDIVIDUALS AS A RESULT OF SAID INDIVIDUALS MEETING A SET OF CRITERIA PRE-ESTABLISHED BY THE CORPORATION. AS AN ALTERNATIVE, THE CORPORATION MAY CONDUCT AN ACADEMIC OR AN ACADEMIC/TALENT COMPETITION OR A SERIES OF COMPETITIONS TO DETERMINE THE RECIPIENT OF A SCHOLARSHIP. THESE COMPETITIONS AND THEIR ASSOCIATED PUBLICITY WILL SERVE TO INSTILL IN THE PARTICIPANTS AND THEIR PEER GROUPS THE IMPORTANCE OF AND THE BENEFITS WHICH CAN BE DERIVED FROM ACADEMIC EXCELLENCE. ON OCCASION, SCHOLARSHIP FUNDS WILL BE DONATED TO AND ADMINISTERED BY AN ORGANIZATION WHICH USES SIMILAR CRITERIA TO SELECT THE RECIPIENTS OF ITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETROSPECTIVE CALENDER YEAR ACCOMPLISHMENTS BOARD OF DIRECTORS APPROVED GRANT AWARDS FOR 40,000 IN SCHOLARSHIPS, 5,200 SCHOLARSHIP LUNCHEON, 1,000 ACHIEVEMENT WEEK ESSAY CONTEST, 1,500 TALENT HUNT, 4,500 YOUTH LEADERSHIP CONFERENCE/ SPELLING BEE, 1,500 ALAMO CITY LAMPLIGHTERS (OMEGA GENTS), 1,500 MENTORING BANQUET. ADDITIONAL 5,000 AWARDED TO DR. JEFFERY LAWRENCE AUGUST SCHOLARSHIP FOUNDATION. ALL TOLD OVER 55,200 IN COMMUNITY UPLIFT TO THE SAN ANTONIO METRO AND SURROUNDING AREAS.
RETROSPECTIVE CALENDER YEAR ACCOMPLISHMENTS BOARD OF DIRECTORS APPROVED GRANT AWARDS FOR 40,000 IN SCHOLARSHIPS, 5,200 SCHOLARSHIP LUNCHEON, 1,000 ACHIEVEMENT WEEK ESSAY CONTEST, 1,500 TALENT HUNT, 4,500 YOUTH LEADERSHIP CONFERENCE/ SPELLING BEE, 1,500 ALAMO CITY LAMPLIGHTERS (OMEGA GENTS), 1,500 MENTORING BANQUET. ADDITIONAL 5,000 AWARDED TO DR. JEFFERY LAWRENCE AUGUST SCHOLARSHIP FOUNDATION. ALL TOLD OVER 55,200 IN COMMUNITY UPLIFT TO THE SAN ANTONIO METRO AND SURROUNDING AREAS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick B Beebe Secretary | Officer | 15 | $0 |
Herbert Cnance Assitant Sec | Officer | 15 | $0 |
Eddie Chew President | Officer | 15 | $0 |
Cicero Godbee Board Member | Officer | 15 | $0 |
Darrell Ljenkins Board Member | Officer | 15 | $0 |
Jimmie E Mcmillion Assistant Tr | Officer | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,754 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,754 |
| Total Program Service Revenue | $239,705 |
| Investment income | $61 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $262,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $202,782 |
| Advertising and promotion | $0 |
| Office expenses | $4,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $208,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,030 |
| Savings and temporary cash investments | $47,096 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $255,126 |
| Accounts payable and accrued expenses | $0 |
| 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 | $171,650 |
| Other liabilities | $0 |
| Total liabilities | $171,650 |
| Net assets without donor restrictions | $83,476 |
| Net assets with donor restrictions | $0 |
| 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 | $255,126 |