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Nonprofiteer
← AAA SCHOLARSHIP FOUNDATION INC

Form 990 for tax year 2022

Filed by AAA SCHOLARSHIP FOUNDATION INC.

Totals

Total revenue
$108,484,050
Total expenses
$131,093,716
Contributions and grants received
$105,764,427
Grants paid
$127,516,155
Program service revenue
$0
Investment income
$2,719,623
Other revenue
$0
Total assets, end of year
$94,488,704
Total liabilities, end of year
$50,807,496
Net assets or fund balances, end of year
$43,681,208
Program services expenses (Part IX)
$129,690,978
Management and general expenses
$264,426
Fundraising expenses
$1,138,312
Program service expenses (Part III)
$129,690,978

Program services were 98.9% 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.

  • 1f · All other contributions, gifts and grants

    $105,764,427

  • 3 · Investment income

    total $2,860,711 · excluded $2,860,711

  • 7a · Gross sales of assets other than inventory

    securities $3,229,703

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

    securities $3,370,791

  • 7c · Gain or loss

    securities -$141,088

  • 7d · Net gain or loss

    total -$141,088 · related or exempt -$141,088

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $96,620,000 · program services $96,620,000

  • 2 · Grants to domestic individuals

    total $30,896,155 · program services $30,896,155

  • 5 · Compensation of officers, directors and key employees

    total $86,617 · management and general $86,617

  • 7 · Other salaries and wages

    total $800,883 · program services $749,301 · management and general $51,582

  • 9 · Other employee benefits

    total $238,809 · program services $223,227 · management and general $15,582

  • 10 · Payroll taxes

    total $76,902 · program services $66,326 · management and general $10,576

  • 11b · Fees: legal

    total $17,470 · program services $7,687 · management and general $408 · fundraising $9,375

  • 11c · Fees: accounting

    total $31,003 · management and general $31,003

  • 11d · Fees: lobbying

    total $117,415 · program services $117,415

  • 11e · Fees: professional fundraising services

    total $1,065,658 · fundraising $1,065,658

  • 11f · Fees: investment management

    total $58,897 · program services $58,897

  • 11g · Fees: other

    total $104,594 · program services $104,594

  • 12 · Advertising and promotion

    total $24,800 · program services $19,229 · management and general $40 · fundraising $5,531

  • 13 · Office expenses

    total $196,988 · program services $176,061 · management and general $7,122 · fundraising $13,805

  • 14 · Information technology

    total $114,388 · program services $109,138 · management and general $2,604 · fundraising $2,646

  • 16 · Occupancy

    total $138,661 · program services $116,546 · management and general $22,115

  • 17 · Travel

    total $15,776 · program services $10,346 · management and general $5,430

  • 19 · Conferences, conventions and meetings

    total $9,950 · fundraising $9,950

  • 20 · Interest

    total $809 · program services $809

  • 22 · Depreciation, depletion and amortization

    total $298,370 · program services $238,696 · management and general $29,837 · fundraising $29,837

  • 23 · Insurance

    total $179,571 · program services $176,551 · management and general $1,510 · fundraising $1,510

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $574,622 · end of year $464,071

  • 2 · Savings and temporary cash investments

    beginning of year $10,515,922 · end of year $12,709,132

  • 3 · Pledges and grants receivable

    beginning of year $60,736,955 · end of year $24,370,115

  • 4 · Accounts receivable

    beginning of year $13,091 · end of year $11,796

  • 9 · Prepaid expenses and deferred charges

    beginning of year $233,741 · end of year $312,534

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

    $435,802

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

    $137,199

  • 10c · Land, buildings and equipment, net

    beginning of year $15,157 · end of year $298,603

  • 11 · Investments: publicly traded securities

    beginning of year $31,666,484 · end of year $44,249,077

  • 14 · Intangible assets

    beginning of year $339,963

  • 15 · Other assets

    beginning of year $9,326,874 · end of year $12,073,376

  • 17 · Accounts payable and accrued expenses

    beginning of year $815,472 · end of year $558,551

  • 18 · Grants payable

    beginning of year $36,014,438 · end of year $37,776,173

  • 19 · Deferred revenue

    beginning of year $1,337,099 · end of year $389,763

  • 21 · Escrow or custodial account liability

    beginning of year $9,092,806 · end of year $11,916,097

  • 25 · Other liabilities

    beginning of year $235,807 · end of year $166,912

  • 27 · Net assets without donor restrictions

    beginning of year $1,393,845 · end of year $3,614,450

  • 28 · Net assets with donor restrictions

    beginning of year $64,533,342 · end of year $40,066,758

Mission and programs · 2022

Mission

AAA SCHOLARSHIP FOUNDATION, INC. ("AAA") IS A GEORGIA NOT-FOR-PROFIT ORGANIZATION INCORPORATED MARCH 26, 2010. AAA'S MISSION IS TO: 1) PROMOTE RELIEF TO THE POOR AND UNDERPRIVILEGED AND 2) PROMOTE THE ADVANCEMENT OF EDUCATION. WE CARRY-OUT OUR MISSION BY ADMINISTERING VARIOUS LEGISLATIVELY- AUTHORIZED SCHOLARSHIP PROGRAMS THAT HELP ENSURE ECONOMICALLY-DISADVANTAGED FAMILIES AND FAMILIES OF CHILDREN WITH DISABILITIES HAVE EQUAL ACCESS TO THE CUSTOMIZED LEARNING OPTIONS THEY NEED TO EFFECTIVELY EDUCATE THEIR CHILDREN. AAA IS AN APPROVED SCHOLARSHIP ORGANIZATION (SO) IN GEORGIA, ARIZONA, FLORIDA, AND NEVADA. AS AN SO, AAA MAY RECEIVE RE-DIRECTED STATE TAXES FROM INDIVIDUAL AND CORPORATE TAXPAYERS. THESE RE-DIRECTED FUNDS ARE THEN DISTRIBUTED TO ELIGIBLE STUDENTS IN THE FORM OF SCHOLARSHIPS (UP TO GRADE 12) SO THEY MAY ACCESS THE EDUCATIONAL ENVIRONMENTS THAT BEST FIT THEIR LEARNING NEEDS. AAA UNDERSTANDS THAT FAMILIES FIGHTING GENERATIONAL POVERTY SEE EDUCATION AS THE SUREST MEANS TO UPWA

  • THANKS TO OUR AMAZING DONORS, WE HAD THE PRIVILEGE OF GRANTING THE FOLLOWING NUMBER OF NET SCHOLARSHIPS TO CHILDREN WHO ARE DISPLACED OR ARE CHALLENGED WITH ECONOMIC, DEVELOPMENTAL, AND/OR PHYSICAL DISADVANTAGES TO HELP THEM AFFORD THE EDUCATIONAL ENVIRONMENTS THAT BEST FIT THEIR LEARNING NEEDS: GEORGIA: 450 ANNUAL PRE-K4 - 12TH GRADE SCHOLARSHIPS; ARIZONA: 2,445 ANNUAL K - 12TH GRADE SCHOLARSHIPS; FLORIDA: 1,419 ANNUAL K - 12TH GRADE SCHOLARSHIPS; FES-UA: 1,475 ANNUAL K4 - 12TH GRADE SCHOLARSHIPS; FES-EO: 326 ANNUAL K - 12TH GRADE SCHOLARSHIPS; AND NEVADA: 798 ANNUAL K - 12TH GRADE SCHOLARSHIPS.

    Expenses $129,690,978 · Grants $127,516,155

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kimberly Dyson

    CHIEF EXEC O

    Total calculated
    $86,617
    From this org
    $74,079
    From related orgs
    $0
    Other
    $12,538
    Hours/week
    60

  • Toni Cardamone

    DIRECTOR

    Total calculated
    $0

  • Teresa L'Homme

    DIRECTOR

    Total calculated
    $0

  • Kimberly Perry

    DIRECTOR

    Total calculated
    $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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • AAA SCHOLARSHIP FOUNDATION - FL LLC

    SCHOLARSHI · FL · income $81,601,994 · assets $40,044,135

    Directly controlled by AAA SCHOLA

Provenance

Return type
form_990
Tax year
2022
Filed
27 November 2023
IRS schema version
2022v5.0
Source object
202323319349300422

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