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Nonprofiteer
← AAA SCHOLARSHIP FOUNDATION INC

Form 990 for tax year 2024

Filed by AAA SCHOLARSHIP FOUNDATION INC.

Totals

Total revenue
$104,400,455
Total expenses
$115,223,328
Contributions and grants received
$100,235,665
Grants paid
$111,372,657
Program service revenue
$0
Investment income
$4,164,790
Other revenue
$0
Total assets, end of year
$157,269,937
Total liabilities, end of year
$86,143,717
Net assets or fund balances, end of year
$71,126,220
Program services expenses (Part IX)
$113,539,582
Management and general expenses
$262,572
Fundraising expenses
$1,421,174
Program service expenses (Part III)
$113,539,582

Program services were 98.5% 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.

  • 1f · All other contributions, gifts and grants

    $100,235,665

  • 1g · Noncash contributions included above

    $12,604

  • 3 · Investment income

    total $4,218,658 · excluded $4,218,658

  • 7a · Gross sales of assets other than inventory

    securities $3,953,204

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

    securities $4,007,072

  • 7c · Gain or loss

    securities -$53,868

  • 7d · Net gain or loss

    total -$53,868 · related or exempt -$53,868

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $85,000,000 · program services $85,000,000

  • 2 · Grants to domestic individuals

    total $26,372,657 · program services $26,372,657

  • 5 · Compensation of officers, directors and key employees

    total $94,100 · management and general $94,100

  • 7 · Other salaries and wages

    total $880,547 · program services $820,566 · management and general $59,981

  • 9 · Other employee benefits

    total $234,691 · program services $218,492 · management and general $16,199

  • 10 · Payroll taxes

    total $83,720 · program services $72,103 · management and general $11,617

  • 11b · Fees: legal

    total $30,295 · program services $17,544 · management and general $3,604 · fundraising $9,147

  • 11c · Fees: accounting

    total $33,316 · management and general $33,316

  • 11d · Fees: lobbying

    total $79,099 · program services $79,099

  • 11e · Fees: professional fundraising services

    total $1,373,271 · fundraising $1,373,271

  • 11f · Fees: investment management

    total $62,475 · program services $62,475

  • 12 · Advertising and promotion

    total $5,339 · program services $5,307 · management and general $16 · fundraising $16

  • 13 · Office expenses

    total $87,050 · program services $65,463 · management and general $4,794 · fundraising $16,793

  • 14 · Information technology

    total $417,223 · program services $408,788 · management and general $4,186 · fundraising $4,249

  • 16 · Occupancy

    total $138,826 · program services $113,792 · management and general $25,034

  • 17 · Travel

    total $21,908 · program services $21,598 · management and general $284 · fundraising $26

  • 19 · Conferences, conventions and meetings

    total $8,258 · fundraising $8,258

  • 22 · Depreciation, depletion and amortization

    total $75,156 · program services $60,126 · management and general $7,515 · fundraising $7,515

  • 23 · Insurance

    total $77,490 · program services $73,665 · management and general $1,926 · fundraising $1,899

  • 24a · Other expenses: GOVERNMENT RELATIONS

    total $146,507 · program services $146,507

  • 24b · Other expenses: CONSULTING

    total $1,400 · program services $1,400

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $606,725 · end of year $52,758

  • 2 · Savings and temporary cash investments

    beginning of year $5,620,758 · end of year $1,615,668

  • 3 · Pledges and grants receivable

    beginning of year $74,095,077 · end of year $45,405,000

  • 4 · Accounts receivable

    beginning of year $20,914 · end of year $48,461

  • 9 · Prepaid expenses and deferred charges

    beginning of year $412,899 · end of year $458,100

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

    $800,608

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

    $438,755

  • 10c · Land, buildings and equipment, net

    beginning of year $180,870 · end of year $361,853

  • 11 · Investments: publicly traded securities

    beginning of year $77,404,423 · end of year $91,272,167

  • 15 · Other assets

    beginning of year $17,867,552 · end of year $18,055,930

  • 17 · Accounts payable and accrued expenses

    beginning of year $318,298 · end of year $565,555

  • 18 · Grants payable

    beginning of year $74,396,042 · end of year $66,505,551

  • 19 · Deferred revenue

    beginning of year $2,085,062 · end of year $1,011,150

  • 21 · Escrow or custodial account liability

    beginning of year $17,690,165 · end of year $17,797,512

  • 25 · Other liabilities

    beginning of year $184,123 · end of year $263,949

  • 27 · Net assets without donor restrictions

    beginning of year $1,336,738 · end of year $8,186,740

  • 28 · Net assets with donor restrictions

    beginning of year $80,198,790 · end of year $62,939,480

Mission and programs · 2024

Mission

AAA SCHOLARSHIP FOUNDATION, INC. ("AAA") IS A GEORGIA NOT-FOR-PROFIT ORGANIZATION INCORPORATED MARCH 26, 2010. AAA'S MISSION IS TO: 1) PROMOTE RELIEF TO THE POOR AND UNDERPRIVILEGED AND 2) PROMOTE THE ADVANCEMENT OF EDUCATION. WE CARRYOUT OUR MISSION BY ADMINISTERING VARIOUS LEGISLATIVELY- AUTHORIZED EDUCATION SCHOLARSHIP PROGRAMS THAT HELP ENSURE ECONOMICALLY- DISADVANTAGED FAMILIES AND FAMILIES OF CHILDREN WITH DISABILITIES HAVE EQUAL ACCESS TO THE CUSTOMIZED LEARNING OPTIONS THEY NEED TO EFFECTIVELY EDUCATE THEIR CHILDREN. AAA IS AN APPROVED SCHOLARSHIP GRANTING ORGANIZATION (SGO) IN GEORGIA, ARIZONA, FLORIDA, AND NEVADA. AS AN SGO, AAA MAY RECEIVE RE-DIRECTED STATE TAXES FROM INDIVIDUAL AND CORPORATE TAXPAYERS. THESE RE-DIRECTED FUNDS ARE THEN DISTRIBUTED TO ELIGIBLE STUDENTS IN THE FORM OF SCHOLARSHIPS (UP TO GRADE 12) SO THEY MAY ACCESS THE EDUCATIONAL ENVIRONMENTS THAT BEST FIT THEIR LEARNING NEEDS. AAA UNDERSTANDS THAT FAMILIES FIGHTING GENERATIONAL POVERTY SEE EDUCATION AS THE

  • THANKS TO OUR AMAZING DONORS, WE HAD THE PRIVILEGE OF GRANTING THE FOLLOWING NUMBER OF NET SCHOLARSHIPS TO CHILDREN WHO ARE DISPLACED OR ARE CHALLENGED WITH ECONOMIC, DEVELOPMENTAL, AND/OR PHYSICAL DISADVANTAGES TO HELP THEM AFFORD THE EDUCATIONAL ENVIRONMENTS THAT BEST FIT THEIR LEARNING NEEDS: GEORGIA: 285 ANNUAL PRE-K4 - 12TH GRADE SCHOLARSHIPS; ARIZONA: 4,304 ANNUAL K - 12TH GRADE SCHOLARSHIPS; FLORIDA: 1,630 ANNUAL K - 12TH GRADE SCHOLARSHIPS; FES-UA: 1,386 ANNUAL K4 - 12TH GRADE SCHOLARSHIPS; AND NEVADA: 766 ANNUAL K - 12TH GRADE SCHOLARSHIPS.

    Expenses $113,539,582 · Grants $111,372,657

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kimberly Dyson

    CHIEF EXEC O

    Total calculated
    $94,100
    From this org
    $81,100
    From related orgs
    $0
    Other
    $13,000
    Hours/week
    60

  • Toni Cardamone

    DIRECTOR

    Total calculated
    $0

  • Teresa L'Homme

    DIRECTOR

    Total calculated
    $0

  • Kimberly Perry

    DIRECTOR

    Total calculated
    $0

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • AAA SCHOLARSHIP FOUNDATION - FL LLC

    SCHOLARSHI · FL · income $68,963,746 · assets $89,325,638

    Directly controlled by AAA SCHOLA

  • AAA SCHOLARSHIP FOUNDATION - NV LLC

    SCHOLARSHI · NV · income $5,490,192

    Directly controlled by AAA SCHOLA

Provenance

Return type
form_990
Tax year
2024
Filed
24 November 2025
IRS schema version
2024v5.0
Source object
202513289349300146

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