Form 990 for tax year 2022
Filed by ARMY SCHOLARSHIP FOUNDATION INC.
Totals
- Total revenue
- $484,248
- Total expenses
- $294,573
- Contributions and grants received
- $541,755
- Grants paid
- $270,828
- Program service revenue
- $0
- Investment income
- -$57,507
- Other revenue
- $0
- Total assets, end of year
- $1,337,001
- Total liabilities, end of year
- $1,924
- Net assets or fund balances, end of year
- $1,335,077
- Program services expenses (Part IX)
- $281,295
- Management and general expenses
- $6,948
- Fundraising expenses
- $6,330
- Program service expenses (Part III)
- $281,295
Program services were 95.5% 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.
-
1c · Fundraising events
$49,280
-
1f · All other contributions, gifts and grants
$492,475
-
3 · Investment income
total -$57,507 · related or exempt -$57,507
-
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 $270,828 · program services $270,828
-
11c · Fees: accounting
total $10,853 · program services $5,015 · management and general $5,838
-
12 · Advertising and promotion
total $7,985 · program services $3,194 · fundraising $4,791
-
13 · Office expenses
total $2,198 · program services $1,496 · management and general $286 · fundraising $416
-
23 · Insurance
total $626 · program services $313 · management and general $313
-
24a · Other expenses: Dues & Subscriptions
total $897 · program services $449 · management and general $448
-
24b · Other expenses: Bank & Credit Card Fees
total $1,123 · fundraising $1,123
-
24c · Other expenses: Volunteer Appreciation
total $63 · management and general $63
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $27,062 · end of year $48,155
-
4 · Accounts receivable
end of year $4,500
-
9 · Prepaid expenses and deferred charges
beginning of year $52 · end of year $52
-
12 · Investments: other securities
beginning of year $1,119,129 · end of year $1,252,294
-
13 · Investments: program-related
end of year $32,000
-
17 · Accounts payable and accrued expenses
beginning of year $841 · end of year $1,924
-
27 · Net assets without donor restrictions
beginning of year $699,982 · end of year $663,208
-
28 · Net assets with donor restrictions
beginning of year $445,420 · end of year $671,869
Mission and programs · 2022
Mission
Provide college level academic scholarships to the children of soldier in the U.S. Military and spouses of U.S. Military active duty enclisted soldiers
Activities or mission (Part I)
Provide college level academic scholarships to the children and spouses of active duty US Military
-
The Army Scholarship Foundation (ASF) grants academic scholarships to the children of soldiers and spouses of active duty enlisted soldiers. ASF actively solicits and receives contributions from the general public, foundations and corporations to fund its activities. The scholarhsips allow eligible receiptents the opportunity to pursue their education where they might otherwise be unable to do so. 289 scholarships valued at $284,828 were awwarded in 2022. A total 479 applications for scholarships were received.
Expenses $281,295 · Revenue $541,755
As filed on the 2022 return.
Listed in Part VII
-
JEFF GAULT
Chairman CEO
- Total calculated
- $0
- Hours/week
- 15
-
KEIRN BROWN
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
MICHAEL GONZALES
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
CHRISTOPHER LEPP
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
ELLEN HOULIHAN
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
ROSE GAULT
President
- Total calculated
- $0
- Hours/week
- 15
-
JOEL GRAY
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
PHILLIP SHEARER
Treasurer
- Total calculated
- $0
- Hours/week
- 1
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
- 17 June 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341689349300009
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