Achievement Rewards For College Scientists Foundation Inc Los Ange
- Assets
- $6.4m
- Revenue
- $370.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Torrance, CA
- Founding
- 12/1959
- Data as of
- 06/2022
- EIN
- 95-6054308
Organization Overview
Achievement Rewards For College Scientists Foundation Inc Los Ange is located in Torrance, CA. The organization was established in 1959. 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. Achievement Rewards For College Scientists Foundation Inc Los Ange 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 06/2022, Achievement Rewards For College Scientists Foundation Inc Los Ange generated $370.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $565.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Achievement Rewards For College Scientists Foundation Inc Los Ange has awarded 48 individual grants totaling $3,560,260. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE FINANCIAL AWARDS TO OUTSTANDING U.S. GRADUATE AND UNDERGRADUATE SCHOLARS IN SCIENCE, TECHNOLOGY, ENGINEERING AND MEDICAL RESEARCH BY RAISING FUNDS FOR SCHOLARSHIPS, FELLOWSHIPS AND GRANTS TO UNIVERSITIES AND COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE CURRENT FISCAL YEAR, THE ORGANIZATION PROVIDED SCHOLARSHIP FUNDS TO FIVE DISTINQUISHED COLLEGES AND UNIVERSITIES IN THE SOUTHERN CALIFORNIA AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Fadem President | OfficerTrustee | 35 | $0 |
Kathie Giordano VP Finance | OfficerTrustee | 15 | $0 |
Lynne Brickner VP Development | OfficerTrustee | 5 | $0 |
Judith Butler Sec - Corres | OfficerTrustee | 1 | $0 |
Rosemary Booth Honorary Dir | Trustee | 1 | $0 |
Cheryl Craft VP Membership | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,642 |
| All other contributions, gifts, grants, and similar amounts not included above | $121,054 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $124,696 |
| Total Program Service Revenue | $17,934 |
| Investment income | $66,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $151,786 |
| Net Income from Fundraising Events | $8,912 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $370,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $461,041 |
| 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 | $27,680 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,093 |
| 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 | $48,130 |
| Fees for services: Other | $461 |
| Advertising and promotion | $0 |
| Office expenses | $3,112 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,000 |
| 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 | $6,049 |
| All other expenses | $290 |
| Total functional expenses | $565,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $394,278 |
| Savings and temporary cash investments | $1,381,138 |
| Pledges and grants receivable | $250 |
| 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 | $4,650,804 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,426,470 |
| 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 | $6,234,049 |
| Net assets with donor restrictions | $192,421 |
| 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 | $6,426,470 |
Grants Awarded
Over the last fiscal year, Achievement Rewards For College Scientists Foundation Inc Los Ange has awarded $461,041 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
POMONA COLLEGE PURPOSE: Funds for scholarships/financial aid to outstansing students | $50,000 |
CALIFORNIA INSTITUTE OF TECHNOLO PURPOSE: Funds for scholarships/financial aid to outstansing students | $91,041 |
UCLA BRAIN RESEARCH INSTITUTE PURPOSE: Funds for scholarships/financial aid to outstansing students | $100,000 |
HARVEY MUDD COLLEGE PURPOSE: Funds for scholarships/financial aid to outstansing students | $60,000 |
USC KECK SCHOOL OF MEDICINE PURPOSE: Funds for scholarships/financial aid to outstansing students | $80,000 |
USC VITERBI SCHOOL OF ENGINEERIN PURPOSE: Funds for scholarships/financial aid to outstansing students | $80,000 |