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Nonprofiteer
← SCHOLARSHIP FUND OF ALEXANDRIA

Form 990 for tax year 2023

Filed by SCHOLARSHIP FUND OF ALEXANDRIA.

Totals

Total revenue
$2,025,071
Total expenses
$2,040,437
Contributions and grants received
$1,584,250
Grants paid
$1,470,592
Program service revenue
$0
Investment income
$391,421
Other revenue
$49,400
Total assets, end of year
$9,586,624
Total liabilities, end of year
$281,830
Net assets or fund balances, end of year
$9,304,794
Program services expenses (Part IX)
$1,779,687
Management and general expenses
$137,411
Fundraising expenses
$123,339
Program service expenses (Part III)
$1,779,687

Program services were 87.2% 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.

  • 1a · Federated campaigns

    $8,102

  • 1c · Fundraising events

    $399,240

  • 1f · All other contributions, gifts and grants

    $1,176,908

  • 3 · Investment income

    total $363,803 · excluded $363,803

  • 7a · Gross sales of assets other than inventory

    securities $1,312,858

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

    securities $1,285,240

  • 7c · Gain or loss

    securities $27,618

  • 7d · Net gain or loss

    total $27,618 · related or exempt $27,618

  • 8a · Fundraising events: gross income

    $150,523

  • 8a · Fundraising events: contributions included on line 1c

    $399,240

  • 8b · Fundraising events: direct expenses

    $150,523

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $74,400

  • 9b · Gaming: direct expenses

    $25,000

  • 9c · Net income from gaming

    total $49,400 · excluded $49,400

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,470,592 · program services $1,470,592

  • 7 · Other salaries and wages

    total $296,579 · program services $176,075 · management and general $63,219 · fundraising $57,285

  • 8 · Pension plan contributions

    total $3,771 · program services $2,254 · management and general $800 · fundraising $717

  • 9 · Other employee benefits

    total $10,865 · program services $6,514 · management and general $2,318 · fundraising $2,033

  • 10 · Payroll taxes

    total $22,761 · program services $13,515 · management and general $4,850 · fundraising $4,396

  • 11c · Fees: accounting

    total $43,122 · management and general $43,122

  • 11f · Fees: investment management

    total $19,096 · management and general $19,096

  • 11g · Fees: other

    total $86,838 · program services $51,388 · fundraising $35,450

  • 13 · Office expenses

    total $23,417 · program services $13,791 · management and general $121 · fundraising $9,505

  • 14 · Information technology

    total $33,851 · program services $31,512 · management and general $2,038 · fundraising $301

  • 23 · Insurance

    total $1,346 · program services $640 · management and general $706

  • 24a · Other expenses: SPECIAL EVENTS COSTS

    total $22,296 · program services $9,808 · fundraising $12,488

  • 24b · Other expenses: BANK CHARGES

    total $4,233 · program services $2,053 · management and general $1,016 · fundraising $1,164

  • 24c · Other expenses: PUBLICITY

    total $1,670 · program services $1,545 · management and general $125

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $71,659 · end of year $202,768

  • 2 · Savings and temporary cash investments

    beginning of year $621,600 · end of year $956,041

  • 4 · Accounts receivable

    beginning of year $13,816 · end of year $16,673

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,890 · end of year $25,834

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

    $3,469

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

    $3,469

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $7,299,898 · end of year $8,385,308

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,862 · end of year $37,571

  • 18 · Grants payable

    beginning of year $79,894 · end of year $219,259

  • 19 · Deferred revenue

    beginning of year $50,000 · end of year $25,000

  • 27 · Net assets without donor restrictions

    beginning of year $3,881,782 · end of year $4,572,628

  • 28 · Net assets with donor restrictions

    beginning of year $4,022,325 · end of year $4,732,166

Mission and programs · 2023

Mission

THE SCHOLARSHIP FUND OF ALEXANDRIA IS A NON-PROFIT ORGANIZATION FORMED TO RECEIVE AND MANAGE PRIVATE AND PUBLIC GIFTS AND DISPERSE THEM IN THE FORM OF SCHOLARSHIPS TO QUALIFIED GRADUATES OF ALEXANDRIA CITY PUBLIC SCHOOLS WHO ATTEND ACCREDITED COLLEGES OR CAREER SCHOOLS.

Activities or mission (Part I)

TO AWARD POST-SECONDARY EDUCATION SCHOLARSHIPS TO GRADUATES OF ALEXANDRIA CITY HIGH SCHOOL.

  • SEE SCHEDULE O

    Expenses $1,779,687 · Grants $1,470,592

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Deborah Schilling

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kevin Jahns

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Maria Montiel-Matthews

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lois Berlin

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Shannon Watson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Preeann Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William Euille

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Paul Brinkman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew Garrahan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Angela Green-Bowers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jesse O'Connell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jasmine Milone

    EXECUTIVE DIRECTOR

    Total calculated
    $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.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

COMPENSATION FROM UNRELATED ORGANIZATION
THE EXECUTIVE DIRECTOR IS PAID BY ALEXANDRIA CITY PUBLIC SCHOOLS FOR SERVICES RENDERED TO SFA. 50% OF HER COMPENSATION AND BENEFITS IS TREATED AS SERVICES DONATED TO SFA. THE VALUE OF THE DONATED SERVICES ARE ESTIMATED AT $77,267.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
10 April 2025
IRS schema version
2023v6.0
Source object
202521009349300307

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