Promising Scholars Fund Inc
- Assets
- $127.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New Haven, CT
- Founding
- 10/2004
- Data as of
- 12/2021
- EIN
- 80-0112325
Organization Overview
Promising Scholars Fund Inc is located in New Haven, CT. The organization was established in 2004. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Promising Scholars Fund 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 12/2021, Promising Scholars Fund Inc generated $137.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 34.8% each year . All expenses for the organization totaled $48.9k during the year ending 12/2021. While expenses have increased by 5.0% 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.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
CONTRIBUTIONS WERE RECEIVED TO FUND SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvin Johnson Director | 1 | $0 | |
Claude Montgomery Secretary | 1 | $0 | |
Carlton Highsmith Chairman | 1 | $0 | |
Erik Clemons Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $37,521 |
| Other Revenue | $0 |
| Total Revenue | $137,521 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $48,890 |
| Total expenses | $48,890 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $127,888 |
| Other assets | $0 |
| Total assets | $127,888 |
| Total liabilities | $0 |
| Net assets or fund balances | $127,888 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Promising Scholars Fund Inc has recieved totaling $400.
| Awarding Organization | Amount |
|---|---|
Comer Family Foundation Inc Hamden, CT PURPOSE: GENERAL SUPPORT | $400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |
Charles A Dana Fdn Inc New York, NY | $248,257,333 | $20,769,847 |
Motulsky-Nacht Family Foundation New York, NY | $171,149,787 | $10,722,392 |
Griffith R Harsh Iv And Margaret Cwhitman Charitable Foundation Albany, NY | $153,022,620 | $10,234,389 |