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Nonprofiteer
← VSGA-VIP SCHOLARSHIP FOUNDATION

Form 990 for tax year 2023

Filed by VSGA-VIP SCHOLARSHIP FOUNDATION.

Totals

Total revenue
$346,245
Total expenses
$432,651
Contributions and grants received
$264,301
Grants paid
$380,048
Program service revenue
$0
Investment income
$81,944
Other revenue
$0
Total assets, end of year
$3,164,294
Total liabilities, end of year
$23,527
Net assets or fund balances, end of year
$3,140,767
Program services expenses (Part IX)
$385,698
Management and general expenses
$46,953
Fundraising expenses
$0
Program service expenses (Part III)
$385,698

Program services were 89.1% 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.

  • 1d · Related organizations

    $163,893

  • 1f · All other contributions, gifts and grants

    $100,408

  • 3 · Investment income

    total $74,370 · excluded $74,370

  • 7a · Gross sales of assets other than inventory

    securities $886,730

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

    securities $879,156

  • 7c · Gain or loss

    securities $7,574

  • 7d · Net gain or loss

    total $7,574 · excluded $7,574

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $229,081 · program services $229,081

  • 2 · Grants to domestic individuals

    total $150,967 · program services $150,967

  • 11a · Fees: management

    total $28,000 · management and general $28,000

  • 11c · Fees: accounting

    total $5,562 · management and general $5,562

  • 11f · Fees: investment management

    total $8,795 · management and general $8,795

  • 14 · Information technology

    total $3,917 · management and general $3,917

  • 24a · Other expenses: VSGA DAY EXPENSES

    total $4,285 · program services $4,285

  • 24b · Other expenses: SCHOLARSHIP EXPENSES

    total $1,365 · program services $1,365

  • 24c · Other expenses: BANK CHARGES

    total $353 · management and general $353

  • 24d · Other expenses: LICENSES

    total $326 · management and general $326

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $179,633 · end of year $204,761

  • 9 · Prepaid expenses and deferred charges

    end of year $3,833

  • 11 · Investments: publicly traded securities

    beginning of year $2,744,076 · end of year $2,911,185

  • 15 · Other assets

    beginning of year $10,012 · end of year $44,515

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,541

  • 18 · Grants payable

    beginning of year $29,333 · end of year $23,527

  • 27 · Net assets without donor restrictions

    beginning of year $2,489,774 · end of year $2,882,655

  • 28 · Net assets with donor restrictions

    beginning of year $407,073 · end of year $258,112

Mission and programs · 2023

Mission

TO PROVIDE COLLEGE SCHOLARSHIPS TO AMATEUR GOLFERS BASED UPON ACADEMIC EXCELLENCE AND ECONOMIC NEED.

  • THE FOUNDATION AWARDED SCHOLARSHIPS TO AMATEUR GOLFERS WHO ARE VIRGINIA RESIDENTS ATTENDING COLLEGE BASED UPON ACADEMIC EXCELLENCE AND ECONOMIC NEED.

    Expenses $370,538 · Grants $364,888

  • THE FOUNDATION'S FLEMING FUND PROVIDES FUNDING FOR JUNIOR GIRLS TO ATTEND JUNIOR GOLF PROGRAMS. THE FLEMING FUND ASSISTS JUNIOR GIRLS AGES SEVEN (7) THROUGH EIGHTEEN (18) BY FUNDING SCHOLARSHIPS FOR GOLF CAMPS AND OTHER GOLD INSTRUCTION AND SUPPORTING THEIR PARTICIPATION IN TOURNAMENTS AND OTHER GOLF-RELATED ACVTIVITIES. THE FLEMING FUND FOCUSES ITS SUPPORT ON VIRGINIA GIRLS WHO OTHERWISE WOULD NOT BE ABLE TO ENJOY THESE OPPORTUNITIES. THE BOARD APPROVED TRANSFER OF THE FLEMING FUND NET ASSETS AND OPERATIONS TO THE VIRGINIA STATE GOLF ASSOCIATION WHICH WAS EFFECTIVE IN DECEMBER 2023.

    Expenses $15,160 · Grants $15,160

As filed on the 2023 return.

Listed in Part VII

  • Joan Gardner

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Somsak Chivavibul

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Jack Walker

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Mason Dirickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Anne Greever

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Craig Groenendaal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Kristine Rohrbaugh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2024
IRS schema version
2023v5.0
Source object
202441309349302544

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