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OLE SCHOOL SCHOLARSHIP FUND

EIN 26-1545132 CHESAPEAKE, VA

Revenue 2025
$125,515
Expenses 2025
$81,867

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
03
NTEE code
B82
Classification
1200
Street
344 WHITE DOGWOOD DR

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2025

Mission

Award a minimum of three (3) incoming (Freshman) and three (3) retention (upperclassmen) scholarships annually to underserved/underrepresented students attending James Madison University.

Activities or mission (Part I)

Awarding student scholarships and providing students with stipends and with financial assistance for tuition, books, fees, and supplies/equipment. (College Level)

  • This year, the Ole School Scholarship Fund (The Fund) awarded five (5) incoming Freshman scholarships and 27 retention scholarships (upperclassmen) to underserved/underrepresented students attending James Madison University. Incoming and retention scholarships totaled $27,000.

    Expenses $27,000 · Grants $27,000

  • Sentara Healthcare Program: The Ole School Scholarship Fund (The Fund) - in partnership with Sentara Healthcare, continued to provide financial assistance (scholarships, tuition, stipends, books, miscellaneous fees, supplies/equipment) to and in support of underserved\underrepresented healthcare service industry students (and students in supporting majors) participating in The Fund Recruitment Program at James Madison University. This year, The Fund provided support including: (1) Sentara Summer Camp program student stipends ($10,600); (2) mentorship/recruitment efforts ($1,370); (3) other student stipend/awards ($4,700); (4) administrative/operational support (i.e., audio/visual, misc. event/meeting costs, event honoree gifts, bank fees, event catering, new checks, volunteer per diem, PO Box rental) Ole School Scholarship Fund Operational Support ($6,475.52); and (5) specific student travel in support of the Ghana Summer event ($1619.31).

    Expenses $24,777 · Grants $24,777

  • Ole School Alumni Owusu-Ansah (JMU) Experiential Summer Program Scholarship (Ghana Summer Scholarship): Provided $12,500 in scholarships to 5 JMU students for the annual summer trip to Ghana with other students (led by a JMU professor). Also, provided $500 for audio/video support during the trip (operated by a JMU student).

    Expenses $13,000 · Grants $13,000

  • Provided additional student scholarships in partnership with Ernst & Young ($5,000)

    Expenses $5,000

  • Due to JMU's funding shortfall for three (3) student recipients of the Fullbright Scholarship, The Fund provided $1,500 for each student for a total of $4,500.

    Expenses $4,500 · Grants $4,500

  • Provided $4,000 as part of Ole School Scholarship underserved / underrepresented program in partnership with JMU and ERP Corporation (and its affiliates). Also, reimbursed student cost for supplies ($90) purchased in support of a project associated with a program for underserved / underrepresented students.

    Expenses $4,090 · Grants $4,090

  • This year senior representatives of The Fund held a special event (along with university alumni) hosting primarily senior JMU leadership, including the university president. The total cost of this event was $2,000.

    Expenses $2,000 · Grants $2,000

  • Provided $1500 to JMU students as part of Ole School Scholarship underserved / underrepresented program in partnership with Freddie Mac.

    Expenses $1,500

As filed on the 2025 return.

Officers and directors · 2025

As listed in Part VII of the 2025 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • Derek Steele

    President

    Total calculated
    $0
    Hours/week
    1

  • Malcom Taylor

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Charles May

    Advisor

    Total calculated
    $0
    Hours/week
    5

  • Nora Crouch

    Advisor

    Total calculated
    $0
    Hours/week
    0.5

  • Walter Stith

    Treasurer

    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. Earlier years are each on their own filing page.

Filings

  • 2025
    Revenue
    $125,515
    Expenses
    $81,867
    Contributions
    $111,341
    Grants paid
    $74,429
  • 2024
    Revenue
    $174,000
    Expenses
    $117,262
    Contributions
    $168,530
    Grants paid
    $111,762
  • 2023
    Revenue
    $253,225
    Expenses
    $69,545
    Contributions
    $253,225
    Grants paid
    $60,250
  • 2022
    Revenue
    $60,503
    Expenses
    $4,530
    Contributions
    $60,503
    Grants paid
    $4,500

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990-EZ

    Revenue
    $158,280
    Expenses
    $4,545
    Assets (EOY)
    $190,832

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all.

Form 990-N e-Postcard, tax year 2020

Tax period
1 January 2020 to 31 December 2020
Principal officer
Derek Steele
Mailing address
PO Box 2701Chesterfield VA 23832
Website
https://www.oleschoolalumnigroup.com/

As filed, from the IRS e-Postcard file of 26 October 2026. The IRS publishes only each organization's most recent postcard, so earlier years are not shown. A 990-N carries no financial detail. The postcard also gives the principal officer's address, which is not shown here.

Grants made

No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.

Grants received

Other IRS files

Auto-Revocation List

  • Exemption revoked 15 May 2012, reinstated 15 May 2012.

Publication 78

Listed as of 13 October 2026, under deductibility PC.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 29 October 2026, for every organization at once. Returns through tax year 2025, the newest we have parsed for this organization.