Form 990 for tax year 2022
Filed by SCHOLARSHIP FOUNDATION OF INDIAN RIVER COUNTY INC.
Totals
- Total revenue
- $1,131,720
- Total expenses
- $705,233
- Contributions and grants received
- $633,252
- Grants paid
- $492,849
- Program service revenue
- $0
- Investment income
- $512,886
- Other revenue
- -$14,418
- Total assets, end of year
- $11,756,172
- Total liabilities, end of year
- $169,285
- Net assets or fund balances, end of year
- $11,586,887
- Program services expenses (Part IX)
- $579,205
- Management and general expenses
- $69,984
- Fundraising expenses
- $56,044
- Program service expenses (Part III)
- $579,205
Program services were 82.1% 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.
-
1c · Fundraising events
$73,563
-
1f · All other contributions, gifts and grants
$559,689
-
3 · Investment income
total $240,712 · excluded $240,712
-
7a · Gross sales of assets other than inventory
securities $4,345,404
-
7b · Less cost or other basis and sales expenses
securities $4,073,230
-
7c · Gain or loss
securities $272,174
-
7d · Net gain or loss
total $272,174 · related or exempt $272,174
-
8a · Fundraising events: gross income
$7,985
-
8a · Fundraising events: contributions included on line 1c
$73,563
-
8b · Fundraising events: direct expenses
$22,403
-
8c · Net income from fundraising events
total -$14,418 · excluded -$14,418
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $492,849 · program services $492,849
-
7 · Other salaries and wages
total $90,826 · program services $49,954 · management and general $9,083 · fundraising $31,789
-
9 · Other employee benefits
total $9,717 · program services $5,344 · management and general $972 · fundraising $3,401
-
10 · Payroll taxes
total $9,601 · program services $5,281 · management and general $960 · fundraising $3,360
-
11c · Fees: accounting
total $6,400 · program services $3,520 · management and general $640 · fundraising $2,240
-
11f · Fees: investment management
total $51,780 · management and general $51,780
-
12 · Advertising and promotion
total $2,054 · program services $1,027 · fundraising $1,027
-
13 · Office expenses
total $8,909 · program services $3,315 · management and general $1,665 · fundraising $3,929
-
14 · Information technology
total $711 · program services $391 · management and general $71 · fundraising $249
-
16 · Occupancy
total $23,241 · program services $12,783 · management and general $2,324 · fundraising $8,134
-
19 · Conferences, conventions and meetings
total $1,732 · program services $1,732
-
22 · Depreciation, depletion and amortization
total $1,044 · program services $575 · management and general $104 · fundraising $365
-
23 · Insurance
total $1,943 · management and general $1,943
-
24a · Other expenses: TELEPHONE
total $4,144 · program services $2,279 · management and general $414 · fundraising $1,451
-
24b · Other expenses: MISCELLANEOUS
total $282 · program services $155 · management and general $28 · fundraising $99
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $726,212 · end of year $828,442
-
2 · Savings and temporary cash investments
beginning of year $743,238 · end of year $676,022
-
3 · Pledges and grants receivable
beginning of year $514,271 · end of year $741,078
-
10a · Land, buildings and equipment: cost or other basis
$24,771
-
10b · Land, buildings and equipment: accumulated depreciation
$21,648
-
10c · Land, buildings and equipment, net
beginning of year $4,168 · end of year $3,123
-
11 · Investments: publicly traded securities
beginning of year $11,290,492 · end of year $9,353,926
-
15 · Other assets
beginning of year $1,493 · end of year $153,581
-
17 · Accounts payable and accrued expenses
beginning of year $16,320 · end of year $17,197
-
25 · Other liabilities
end of year $152,088
-
27 · Net assets without donor restrictions
beginning of year $8,866,145 · end of year $7,612,002
-
28 · Net assets with donor restrictions
beginning of year $4,397,409 · end of year $3,974,885
Mission and programs · 2022
Mission
SCHOLARSHIP FOUNDATION OF IRC PROVIDES HOPE, ENCOURAGEMENT AND NEED-BASED SCHOLARSHIPS TO INDIAN RIVER COUNTY STUDENTS WITH THE DESIRE AND ABILITY TO SUCCEED IN POST-SECONDARY EDUCATION.
-
SCHOLARSHIP FOUNDATION AWARDS MULTI-YEAR SCHOLARSHIPS THAT ARE RENEWABLE IF RECIPIENTS MEET ACADEMIC AND PAPERWORK REQUIREMENTS. IN 2022, WE PAID 492,849 IN AWARDS, RANGING FROM 1,000 TO 7,500 TO 114 NEW AND RETURNING STUDENTS. WE MADE NEW AWARDS TOTALING 664,730 TO 40 STUDENTS IN THE CLASS OF 2022.
Expenses $579,205 · Grants $492,849
As filed on the 2022 return.
Listed in Part VII
-
Jonathan SternbergJONATHAN STERNBERG
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Scott SchwartzSCOTT SCHWARTZ
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 5
-
Elizabeth SorensenELIZABETH SORENSEN
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Ann Bixel WaldANN BIXEL WALD
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Susan ChenaultSUSAN CHENAULT
PAST PRESIDE
- Total calculated
- $0
- Hours/week
- 2
-
Joan CookJOAN COOK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mary JohnstonMARY JOHNSTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gaye LudwigGAYE LUDWIG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 20
-
Meredith MaffettMEREDITH MAFFETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tyler PuttickTYLER PUTTICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jonathan SchwieringJONATHAN SCHWIERING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Bobby SextonBOBBY SEXTON
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 24 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202332709349300333
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