Society Of Experimental Test Pilots Scholarship Foundation
- Assets
- $7.8m
- Revenue
- $276.4k
- Investments
- $5.7m
- Employees
- 3
- Location
- Lancaster, CA
- Founding
- 04/1966
- Data as of
- 12/2023
- EIN
- 95-2479396
Organization Overview
Society Of Experimental Test Pilots Scholarship Foundation is located in Lancaster, 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. As of 12/2023, Society Of Experimental Test Pilots Scholarship Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society Of Experimental Test Pilots 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 12/2023, Society Of Experimental Test Pilots Scholarship Foundation generated $276.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $482.2k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE SCHOLASHIP FDN IS TO RECEIVE, ACQUIRE, MANAGE, ADMINISTER, & EXPEND PROPERTY & FUNDS FOR SCHOLARSHIPS & OTHER FORMS OF EDUCATIONAL ASSISTANCE TO CHILDREN OF SOCIETY MEMBERS, WITH EMPHASIS GIVEN TO CHILDREN OF DECEASED & DISABLED SOCIETY MEMBERS. A SCHOLARSHIP WAS FIRST AWARDED IN 1967. SINCE THAT TIME OVER 4 MILLION HAS BEEN GRANTED IN EDUCATIONAL ASSISTANCE TO OVER 250 STUDENTS. IN 2021 72 STUDENTS ATTENDED SCHOOL WITH SCHOLARSHIP FDN ASSISTANCE. FOR EVERY DOLLAR CONTRIBUTED, MORE THAN 95% GOES DIRECTLY TO COVER THE STUDENTS' EDUCATIONAL EXPENSES. A CONTRIBUTION TO THE SCHOLARSHIP FDN IS THE IDEAL WAY TO COMMERMORATE A SOCIETY MEMBER WHILE HELPING SUPPORT CHILDREN OF SOCIETY MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L Balderas Executive Dir. | Trustee | 1 | $0 |
G Lewis Trustee | Trustee | 1 | $0 |
T Osinski Trustee | Trustee | 1 | $0 |
J Lanni Trustee | Trustee | 1 | $0 |
V Lee Trustee | Trustee | 1 | $0 |
B Sandberg Trustee | 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 | $105,887 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,887 |
| Total Program Service Revenue | $0 |
| Investment income | $134,956 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,539 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $276,382 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $327,881 |
| 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 | $52,971 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $3,669 |
| All other expenses | $0 |
| Total functional expenses | $482,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,573 |
| 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 | $2,022,191 |
| Investments—other securities | $5,721,446 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,805,210 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $5,734,433 |
| Net assets with donor restrictions | $2,070,777 |
| 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 | $7,805,210 |