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Nonprofiteer
← THE ARKANSAS SINGLE PARENT SCHOLARSHIP FUND

Form 990 for tax year 2023

Filed by THE ARKANSAS SINGLE PARENT SCHOLARSHIP FUND.

Totals

Total revenue
$1,331,027
Total expenses
$2,968,461
Contributions and grants received
$973,611
Grants paid
$23,482
Program service revenue
$0
Investment income
$344,753
Other revenue
$12,663
Total assets, end of year
$8,132,741
Total liabilities, end of year
$179,608
Net assets or fund balances, end of year
$7,953,133
Program services expenses (Part IX)
$1,972,032
Management and general expenses
$541,696
Fundraising expenses
$454,733
Program service expenses (Part III)
$1,972,032

Program services were 66.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $211,380

  • 1f · All other contributions, gifts and grants

    $762,231

  • 3 · Investment income

    total $118,722 · excluded $118,722

  • 7a · Gross sales of assets other than inventory

    securities $1,695,536

  • 7b · Less cost or other basis and sales expenses

    securities $1,469,505

  • 7c · Gain or loss

    securities $226,031

  • 7d · Net gain or loss

    total $226,031 · excluded $226,031

  • 11a · Other revenue: OTHER

    total $12,663 · related or exempt $12,663

  • 11e · Other revenue, total

    $12,663

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $23,482 · program services $23,482

  • 5 · Compensation of officers, directors and key employees

    total $124,029 · program services $55,813 · management and general $29,767 · fundraising $38,449

  • 7 · Other salaries and wages

    total $938,316 · program services $422,242 · management and general $225,196 · fundraising $290,878

  • 9 · Other employee benefits

    total $124,811 · program services $56,165 · management and general $29,955 · fundraising $38,691

  • 10 · Payroll taxes

    total $77,865 · program services $35,039 · management and general $18,688 · fundraising $24,138

  • 11g · Fees: other

    total $62,453 · management and general $62,453

  • 12 · Advertising and promotion

    total $26,018 · program services $21,856 · management and general $1,301 · fundraising $2,861

  • 16 · Occupancy

    total $43,310 · program services $14,839 · management and general $22,215 · fundraising $6,256

  • 17 · Travel

    total $51,509 · program services $22,149 · management and general $17,513 · fundraising $11,847

  • 19 · Conferences, conventions and meetings

    total $20,817 · program services $11,866 · management and general $8,535 · fundraising $416

  • 22 · Depreciation, depletion and amortization

    total $7,791 · management and general $7,791

  • 23 · Insurance

    total $6,067 · management and general $6,067

  • 24a · Other expenses: SCHOLARSHIP AND STUDENT

    total $1,306,264 · program services $1,306,264

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $115,243 · program services $1,152 · management and general $111,786 · fundraising $2,305

  • 24c · Other expenses: FUNDRAISING

    total $38,826 · program services $1,165 · fundraising $37,661

  • 24d · Other expenses: OTHER EXPENSES

    total $1,660 · management and general $429 · fundraising $1,231

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $212,899 · end of year $189,427

  • 2 · Savings and temporary cash investments

    beginning of year $1,688,382 · end of year $1,259,458

  • 3 · Pledges and grants receivable

    beginning of year $3,675,658 · end of year $2,105,564

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,656 · end of year $43,968

  • 10a · Land, buildings and equipment: cost or other basis

    $72,139

  • 10b · Land, buildings and equipment: accumulated depreciation

    $69,653

  • 10c · Land, buildings and equipment, net

    beginning of year $9,346 · end of year $2,486

  • 11 · Investments: publicly traded securities

    beginning of year $3,985,509 · end of year $4,531,838

  • 17 · Accounts payable and accrued expenses

    beginning of year $129,617 · end of year $86,476

  • 25 · Other liabilities

    beginning of year $93,132 · end of year $93,132

  • 27 · Net assets without donor restrictions

    beginning of year $1,188,869 · end of year $685,411

  • 28 · Net assets with donor restrictions

    beginning of year $8,186,832 · end of year $7,267,722

Mission and programs · 2023

Mission

ASPSF PROVIDES FINANCIAL ASSISTANCE AND PERSONAL SUPPORT TO LOW INCOME SINGLE PARENTS WHO ARE CURRENTLY ENROLLED IN A POST-SECONDARY COURSE OF STUDY LEADING TO EMPLOYMENT WITH FAMILY SUPPORTING WAGES.

Activities or mission (Part I)

THE MISSION OF ARKANSAS SINGLE PARENT SCHOLARSHIP FUND IS TO ENABLE SINGLE PARENTS TO OBTAIN SELF-SUFFICIENCY THROUGH POST SECONDARY EDUCATION.

  • ARKANSAS SINGLE PARENT SCHOLARSHIP FUND ASSISTS LOW INCOME SINGLE PARENTSMOVE FROM A LIFE OF DEPENDENCY-DEPENDENT ON TAX-FUNDED STATE AND FEDERALASSISTANCE PROGRAMS AND LOCAL SOCIAL SERVICES - TO ONE OF SELF-SUFFICIENCYAS THEY BECOME TAX-PAYING PROFESSIONALS PROUDLY SUPPORTING THEIR FAMILIESON THEIR OWN. WE ACCOMPLISH THIS BY ASSISTING SINGLE PARENTS TO COMPLETETHEIR TWO OR FOUR-YEAR COLLEGE DEGREES OR PROFESSIONAL CERTIFICATES,OPENING DOORS TO NEW EMPLOYMENT AT WAGES ABOVE THE POVERTY LEVEL.

    Expenses $1,972,032 · Grants $23,482

As filed on the 2023 return.

Listed in Part VII

  • Sharmane Andrews

    VICE PRECIDENT

    Total calculated
    $0
    Hours/week
    2

  • Dan Brewer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ryan Morrow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ventrell Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mike Weaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sunshine Bartlett

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Betsy Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Adelene McClenny

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jean Block

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Steenhoek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ray Winiecki

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael O'Bryan

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Maret Cahill Wicks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Eddie Thomas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ruthanne Hill

    EXECUTIVE DIRECTOR

    Total calculated
    $124,028
    From this org
    $124,028
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2024
IRS schema version
2023v5.1
Source object
202422329349301152

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