Drake Scholarship Foundation
- Assets
- $1.2m
- Revenue
- $69.1k
- Investments
- $0.0
- Employees
- 0
- Location
- San Anselmo, CA
- Founding
- 05/1966
- Data as of
- 12/2022
- EIN
- 94-6128953
Organization Overview
Drake Scholarship Foundation is located in San Anselmo, CA. The organization was established in 1966. 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. Drake 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, Drake Scholarship Foundation generated $69.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $66.0k during the year ending 12/2022. While expenses have increased by 0.6% per year over the past 7 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
SCHOLARSHIP FOR GRADUATING HIGH SCHOOL SENIORS FOR POST SECONDARY EDUCATION EITHER COLLEGE OR TECHNICAL SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRAKE SCHOLARSHIP FOUNDATION WAS ESTABLISHED TO ASSIST HIGH SCHOOL STUDENT WITH COLLEGE OR TECHNICAL SCHOOL TUITION. SCHOLARSHIPS ARE BASES ON FINANCIAL NEED, ACADEMIC PERFORMANCE AND COMMUNITY SERVICE.
21 SCHOLARSIHPS AT 3,000 EACH
21 SCHOLARSHIPS 3,000 EACH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Thoma President | Officer | 2 | $0 |
Lisa Neiumairwe Secreary | Officer | 1 | $0 |
Katherine Renick Treasurer | Officer | 1 | $0 |
Kevin Shea Board Member | Trustee | 1 | $0 |
Chuck Albertsn Board Member | Trustee | 1 | $0 |
Greg Davison Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,227 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,227 |
| Total Program Service Revenue | $0 |
| Investment income | $38,896 |
| 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 | $69,123 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $61,500 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,460 |
| 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 | $65,960 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,960 |
| Savings and temporary cash investments | $0 |
| 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 | $1,112,508 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,178,468 |
| Accounts payable and accrued expenses | $4,460 |
| Grants payable | $61,500 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $65,960 |
| Net assets without donor restrictions | $1,112,508 |
| 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 | $1,178,468 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Drake Scholarship Foundation has recieved totaling $150.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For Global Sports Development Los Angeles, CA | $28,471,591 | $19,690,244 |
Ressler Gertz Foundation Encino, CA | $41,227,955 | $63,459,065 |
Basic Fund Oakland, CA | $23,987,500 | $9,637,782 |
The Roddenberry Foundation Sherman Oaks, CA | $90,372,865 | $11,204,960 |
Scholarship Foundation Of Santa Barbara Santa Barbara, CA | $64,291,323 | $9,987,149 |
Bettye Poetz Ferguson Foundation San Francisco, CA | $18,979,772 | $3,373,943 |
Arizona Private Education Scholarship Fund Inc Scottsdale, AZ | $4,340,429 | $7,500,005 |
Gilead Sciences Foundation Foster City, CA | $126,155,891 | $168,265,797 |
Draper Foundation San Mateo, CA | $195,149,192 | $78,341,825 |
School Choice Arizona Inc Chandler, AZ | $10,615,298 | $8,926,972 |
College Success Arizona Phoenix, AZ | $19,037,884 | $6,349,882 |
Orange Coast College Foundation Costa Mesa, CA | $45,211,375 | $13,270,788 |