Civic Intelligence

Ole School Scholarship Fund

EIN 26-1545132 • 501(c)3 • Chesapeake, VA

Pub. 78 Eligible990-N Coverage

Profile

Awarding Student Scholarships (College Level)

344 White Dogwood DriveChesapeake, VA 23322

www.oleschoolalumnigroup.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

97th percentile

93%

Higher net margin than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

81st percentile

29%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-62%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$530,870

Up $43,647 (+9.0%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Up

$530,870

Up $43,647 (+9.0%) from 2024

Operations
Liabilities / Revenue61st percentileNet Margin97th percentile

Revenue

Down

$125,515

Down $48,485 (-28%) from 2024

Expenses

Down

$81,867

Down $35,395 (-30%) from 2024

Net Income

Down

$43,648

Down $13,090 (-23%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth81st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2021: $190,832Liabilities 2021: $0Net Assets 2021: $190,8322021Assets 2022: $246,805Liabilities 2022: $0Net Assets 2022: $246,8052022Assets 2023: $430,485Liabilities 2023: $0Net Assets 2023: $430,4852023Assets 2024: $487,223Liabilities 2024: $0Net Assets 2024: $487,2232024Assets 2025: $530,870Liabilities 2025: $0Net Assets 2025: $530,8702025

Highlighted filing

2025

Assets$530,870
Liabilities$0
Net Assets$530,870
Open 2025 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0Revenue 2021: $158,280Expenses 2021: $4,545Net Income 2021: $153,7352021Revenue 2022: $60,503Expenses 2022: $4,530Net Income 2022: $55,9732022Revenue 2023: $253,225Expenses 2023: $69,545Net Income 2023: $183,6802023Revenue 2024: $174,000Expenses 2024: $117,262Net Income 2024: $56,7382024Revenue 2025: $125,515Expenses 2025: $81,867Net Income 2025: $43,6482025

Highlighted filing

2025

Revenue$125,515
Expenses$81,867
Net Income$43,648
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$530,870
Liabilities
$0
Net assets
$530,870
Revenue
$125,515
Expenses
$81,867
Net income
$43,648
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.31$0.00$5.31$1.26$0.82$0.44
2024Detailed filing. Detailed filing data is available for this year.$4.87$0.00$4.87$1.74$1.17$0.57
2023Detailed filing. Detailed filing data is available for this year.$4.30$0.00$4.30$2.53$0.70$1.84
2022Detailed filing. Detailed filing data is available for this year.$2.47$0.00$2.47$0.61$0.05$0.56
2021Detailed filing. Detailed filing data is available for this year.$1.91$0.00$1.91$1.58$0.05$1.54
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Mar 25, 2026
Return Version
2025v4.0
Gross Receipts
$125,515
Mission and Program Overview

Mission

Awarding Student Scholarships (College Level)

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$355,470$379,219▲ $23,749
Cash and Non-Interest-Bearing Accounts$131,752$151,651▲ $19,899
Total Assets$487,222$530,870▲ $43,648
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$487,222$530,870▲ $43,648
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$487,222$530,870▲ $43,648
Total Liabilities and Net Assets / Fund Balance$487,222$530,870▲ $43,648
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Derek SteelePresident
Malcom TaylorVice President
Charles MayAdvisor
Nora CrouchAdvisor
Walter StithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$111,341
Program Service Revenue
$0
Investment Income
$14,174
Other Revenue
$0
All Other Contributions
$111,341
Change in Net Assets
$43,648
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$74,429
Other Expenses$7,438
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$74,429--$74,429
Conferences and Meetings$3,693--$3,693
Advertising$2,000--$2,000
Travel$1,400--$1,400
Office Expenses$345--$345
Total Functional Expenses$81,867$0$0$81,867
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 9

“Derek Steele (President) - PO Box 5123, Woodbridge VA 22194 // Malcolm Taylor (Vice President) - 9901 Patromdale Dr., North Chesterfield, VA 23237 // Nora Crouch (Advisor) - 804 Pepper Ave., Richmond, VA, 23226 // Walter Stith (Treasurer) - 8413 Mossy Pines Way, Gainesville, VA 20155”

Form 990, Part VI, Section B, Line 11B

“The Ole School Scholarship Fund (the Fund) Treasurer prepares, reviews, and files this form with the IRS. No review was or will be conducted by other Fund leadership prior to it being submitted. The Treasurer provides Fund leadership a copy of the tax return after it is submitted to the IRS.”

Form 990, Part VI, Section C, Line 19

“The Ole School Scholarship Fund did not make any applicable documents available to the public for inspection. We would make any applicable documents available upon request. However, no documents were requested during the year.”

Filing and Contact Details

Filer

Filer Name
Ole School Scholarship Fund
EIN
26-1545132
Phone
7039277825
Address
344 White Dogwood Drive, Chesapeake, VA 23322
Doing Business As
Ole School Alumni Scholarship Group

Signing Officer

Name
Walter Stith
Title
Treasurer
Phone
7039277825
Signed
2026-03-25

Organization Details

Principal Officer
Charles May
Formed
2011
Legal Domicile
Va
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
10
Raw XML Appendix393 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0This 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.
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IRS990/MissionDesc0Award a minimum of three (3) incoming (Freshman) and three (3) retention (upperclassmen) scholarships annually to underserved/underrepresented students attending James Madison University.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Sentara 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).
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt024777
IRS990/ProgSrvcAccomActy2Grp/GrantAmt024777
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0Ole 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).
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt013000
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Provided additional student scholarships in partnership with Ernst & Young ($5,000)
IRS990/ProgSrvcAccomActyOtherGrp/Desc1Due 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.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2Provided $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.
IRS990/ProgSrvcAccomActyOtherGrp/Desc3This 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.
IRS990/ProgSrvcAccomActyOtherGrp/Desc4Provided $1500 to JMU students as part of Ole School Scholarship underserved / underrepresented program in partnership with Freddie Mac.
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0131341
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0168530
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0253225
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt060503
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0158280
IRS990ScheduleA/Total509Grp/TotalAmt0771879
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0145515
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0174000
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0253225
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt060503
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0158280
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0791523
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt014619
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt127000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt210600
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt310100
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Ghana Program: Student scholarships and travel expenses
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1Annual Student Scholarships (1) Incoming & (2) Retention
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2Sentara Summer Camp Program Stipends
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3Additional student scholarship (Fulbright), awards, and stipends
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt07
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt132
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt29
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt384
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Treasurer of The Fund only issues assistance payments, scholarships, etc. upon receipt of documented communication/direction from senior Fund leadership. The Treasurer maintains file copies of these communications along with a photocopy of the corresponding check(s) issued. For one source account that funds annual scholarship payments, only one senior member (not the Treasurer) has check writing authority. The criteria and process for awarding those annual scholarships is extensively documented in communications among applicable Fund leadership involved in the process. The Treasurer documents/records/tracks all assistance payments, scholarships, etc. using financial software - within corresponding category groups. The Treasurer reconciles the payments in the financial software (the "book") with account bank records.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Derek Steele (President) - PO Box 5123, Woodbridge VA 22194 // Malcolm Taylor (Vice President) - 9901 Patromdale Dr., North Chesterfield, VA 23237 // Nora Crouch (Advisor) - 804 Pepper Ave., Richmond, VA, 23226 // Walter Stith (Treasurer) - 8413 Mossy Pines Way, Gainesville, VA 20155
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Ole School Scholarship Fund (the Fund) Treasurer prepares, reviews, and files this form with the IRS. No review was or will be conducted by other Fund leadership prior to it being submitted. The Treasurer provides Fund leadership a copy of the tax return after it is submitted to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Ole School Scholarship Fund did not make any applicable documents available to the public for inspection. We would make any applicable documents available upon request. However, no documents were requested during the year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0487222
IRS990/TotalAssetsEOYAmt0530870
IRS990/TotalAssetsGrp/BOYAmt0487222
IRS990/TotalAssetsGrp/EOYAmt0530870
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0111341
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt081867
IRS990/TotalFunctionalExpensesGrp/TotalAmt081867
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0487222
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0530870
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt017090
IRS990/TotalOtherProgSrvcGrantAmt010590
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt081867
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt014174
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0125515
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0487222
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0530870
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt01400
IRS990/TravelGrp/TotalAmt01400
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0344 Dogwood Dr
IRS990/USAddress/CityNm0Chesapeake
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023222
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0https://www.oleschoolalumnigroup.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Walter Stith
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum07039277825
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-03-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OLE SCHOOL SCHOLARSHIP FUND
ReturnHeader/Filer/BusinessNameControlTxt0OLES
ReturnHeader/Filer/EIN0261545132
ReturnHeader/Filer/PhoneNum07039277825
ReturnHeader/Filer/USAddress/AddressLine1Txt0344 White Dogwood Drive
ReturnHeader/Filer/USAddress/CityNm0Chesapeake
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023322
ReturnHeader/ReturnTs02026-04-12T10:12:38-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02025-01-01
ReturnHeader/TaxPeriodEndDt02025-12-31
ReturnHeader/TaxYr02025

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