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Nonprofiteer
← ARMY SCHOLARSHIP FOUNDATION INC

Form 990 for tax year 2025

Filed by ARMY SCHOLARSHIP FOUNDATION INC.

Totals

Total revenue
$1,009,095
Total expenses
$555,414
Contributions and grants received
$849,203
Grants paid
$408,500
Program service revenue
$0
Investment income
$159,892
Other revenue
$0
Total assets, end of year
$2,709,835
Total liabilities, end of year
$5,382
Net assets or fund balances, end of year
$2,704,453
Program services expenses (Part IX)
$516,324
Management and general expenses
$14,388
Fundraising expenses
$24,702
Program service expenses (Part III)
$555,414

Program services were 93.0% 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

    $84,147

  • 1f · All other contributions, gifts and grants

    $765,056

  • 3 · Investment income

    total $159,892 · related or exempt $159,892

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $408,500 · program services $408,500

  • 7 · Other salaries and wages

    total $65,192 · program services $55,413 · management and general $3,260 · fundraising $6,519

  • 10 · Payroll taxes

    total $4,987 · program services $3,990 · management and general $499 · fundraising $498

  • 11a · Fees: management

    total $36,061 · program services $36,061

  • 11c · Fees: accounting

    total $7,859 · management and general $7,859

  • 12 · Advertising and promotion

    total $11,125 · program services $1,525 · fundraising $9,600

  • 13 · Office expenses

    total $5,799 · program services $4,968 · management and general $191 · fundraising $640

  • 17 · Travel

    total $749 · fundraising $749

  • 22 · Depreciation, depletion and amortization

    total $447 · program services $447

  • 23 · Insurance

    total $621 · management and general $621

  • 24a · Other expenses: Volunteer Appreciation

    total $484 · management and general $484

  • 24b · Other expenses: Software Subscriptions

    total $8,170 · management and general $1,474 · fundraising $6,696

  • 24c · Other expenses: Credit Card Fees

    total $5,420 · program services $5,420

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,039 · end of year $57,628

  • 4 · Accounts receivable

    beginning of year $10,031 · end of year $47,582

  • 9 · Prepaid expenses and deferred charges

    beginning of year $621

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

    $2,232

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

    $1,040

  • 10c · Land, buildings and equipment, net

    beginning of year $895 · end of year $1,192

  • 12 · Investments: other securities

    beginning of year $2,175,550 · end of year $2,603,433

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,364 · end of year $5,382

  • 27 · Net assets without donor restrictions

    beginning of year $1,216,709 · end of year $1,730,831

  • 28 · Net assets with donor restrictions

    beginning of year $1,034,063 · end of year $973,622

Mission and programs · 2025

Mission

Provide college level academic scholarships to the children and spouses of active duty U.S. Military

Activities or mission (Part I)

Provide college level academic scholarships to the children and spouse of active duty US Military

  • The Army Scholarship Foundation (ASF) grants academic scholarships to the children/spouses of active duty enlisted soldiers. ASF actively solicits contributions from the general public, foundations and corporation to fund its programs. The scholarhsips allow eligible recipients the opportunity to pursue their education, where they might otherwise be unable to do so. A total of 375 scholarships valued at $408,500 were awarded in 2025. A total of 1,083 applications for scholarhsips were received.

    Expenses $555,414 · Grants $408,500 · Revenue $1,009,095

As filed on the 2025 return.

Listed in Part VII

  • JEFF GAULT

    Chairman CEO

    Total calculated
    $0
    Hours/week
    0

  • KEIRN BROWN

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • DANA JOHNSON

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • CHRISTOPHER LEPP

    Secretary

    Total calculated
    $0
    Hours/week
    0

  • ELLEN HOULIHAN

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • ROSE GAULT

    President

    Total calculated
    $0
    Hours/week
    0

  • JOEL GRAY

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • PHILLIP SHEARER

    Treasurer

    Total calculated
    $0
    Hours/week
    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
14 April 2026
IRS schema version
2025v4.0
Source object
202631049349300618

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