Civic Intelligence

Coca-Cola Scholars Foundation Inc.

990 • Fiscal year 2015 • EIN 58-1686023

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

Organization Profilewww.coca-colascholars.org

View Organization Page

1 Coca-Cola Plaza Nat 742Atlanta, GA 30313

(404) 733-5434

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

12th percentile

0.06x

Higher debt load relative to revenue than 12% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

41st percentile

1.6%

Higher net margin than 41% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

57th percentile

$273,793

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

8th percentile

-9.8%

Faster asset growth than 8% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

32nd percentile

-1.3%

Faster revenue growth than 32% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets9th percentile

Assets

Down

$40,068,891

Down $4,334,851 (-9.8%) from 2014

Net Assets

Down

$39,714,327

Down $2,526,720 (-6.0%) from 2014

Liabilities

Down

$354,564

Down $1,808,131 (-84%) from 2014

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin41st percentile

Revenue

Down

$6,346,831

Down $82,979 (-1.3%) from 2014

Expenses

Down

$6,244,691

Down $517,538 (-7.7%) from 2014

Net Income

Up

$102,140

Up $434,559 (+131%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $34,953,260Liabilities 2010: $737,658Net Assets 2010: $34,215,6022010Assets 2011: $39,246,378Liabilities 2011: $554,794Net Assets 2011: $38,691,5842011Assets 2012: $41,289,488Liabilities 2012: $233,256Net Assets 2012: $41,056,2322012Assets 2013: $44,497,191Liabilities 2013: $1,681,946Net Assets 2013: $42,815,2452013Assets 2014: $44,403,742Liabilities 2014: $2,162,695Net Assets 2014: $42,241,0472014Assets 2015: $40,068,891Liabilities 2015: $354,564Net Assets 2015: $39,714,3272015Assets 2016: $42,135,612Liabilities 2016: $1,039,140Net Assets 2016: $41,096,4722016Assets 2017: $45,854,055Liabilities 2017: $291,944Net Assets 2017: $45,562,1112017Assets 2018: $38,290,586Liabilities 2018: $1,011,281Net Assets 2018: $37,279,3052018Assets 2019: $40,154,176Liabilities 2019: $384,679Net Assets 2019: $39,769,4972019Assets 2020: $40,529,467Liabilities 2020: $653,575Net Assets 2020: $39,875,8922020Assets 2021: $71,605,468Liabilities 2021: $2,604,733Net Assets 2021: $69,000,7352021Assets 2022: $66,704,418Liabilities 2022: $459,021Net Assets 2022: $66,245,3972022Assets 2023: $69,869,565Liabilities 2023: $358,467Net Assets 2023: $69,511,0982023Assets 2024: $72,399,676Liabilities 2024: $393,848Net Assets 2024: $72,005,8282024

Highlighted filing

2015

Assets$40,068,891
Liabilities$354,564
Net Assets$39,714,327
Open 2015 Filing

Operations Trend

Revenue Growth32nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MRevenue 2010: $4,723,718Expenses 2010: $6,304,552Net Income 2010: -$1,580,8342010Revenue 2011: $14,619,346Expenses 2011: $6,293,794Net Income 2011: $8,325,5522011Revenue 2012: $7,196,775Expenses 2012: $6,442,343Net Income 2012: $754,4322012Revenue 2013: $7,897,502Expenses 2013: $7,453,011Net Income 2013: $444,4912013Revenue 2014: $6,429,810Expenses 2014: $6,762,229Net Income 2014: -$332,4192014Revenue 2015: $6,346,831Expenses 2015: $6,244,691Net Income 2015: $102,1402015Revenue 2016: $7,775,973Expenses 2016: $6,088,260Net Income 2016: $1,687,7132016Revenue 2017: $6,059,781Expenses 2017: $6,173,818Net Income 2017: -$114,0372017Revenue 2018: $3,809,836Expenses 2018: $7,124,090Net Income 2018: -$3,314,2542018Revenue 2019: $3,216,681Expenses 2019: $5,936,647Net Income 2019: -$2,719,9662019Revenue 2020: $2,203,735Expenses 2020: $4,351,950Net Income 2020: -$2,148,2152020Revenue 2021: $31,599,185Expenses 2021: $4,833,023Net Income 2021: $26,766,1622021Revenue 2022: $8,693,738Expenses 2022: $5,006,629Net Income 2022: $3,687,1092022Revenue 2023: $6,166,791Expenses 2023: $7,245,211Net Income 2023: -$1,078,4202023Revenue 2024: $5,973,150Expenses 2024: $6,870,443Net Income 2024: -$897,2932024

Highlighted filing

2015

Revenue$6,346,831
Expenses$6,244,691
Net Income$102,140
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$10,529,103
Mission and Program Overview

Mission

By awarding post-secondary scholarships, the coca-cola scholars foundation exists to develop an influential community of service-minded leaders, connected by coca-cola, who positively shape the world.

To develop an influential community of service-minded leaders, connected by Coca-Cola, who positively shape the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$39,814,271$37,185,597▼ $2,628,674
Pledges and Grants Receivable$3,399,206$2,542,525▼ $856,681
Land, Buildings, and Equipment, Net$191,802$292,201▲ $100,399
Prepaid Expenses and Deferred Charges$32,817$46,893▲ $14,076
Cash and Non-Interest-Bearing Accounts$965,647$1,675▼ $963,972
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$44,403,743$40,068,891▼ $4,334,852
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$1,166,886$191,283▼ $975,603
Accounts Payable and Accrued Expenses$995,810$163,281▼ $832,529
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,162,696$354,564▼ $1,808,132
Net Assets / Fund Balance
Unrestricted Net Assets$39,223,257$37,126,198▼ $2,097,059
Temporarily Rstr Net Assets$3,017,790$2,588,129▼ $429,661
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$42,241,047$39,714,327▼ $2,526,720
Total Liabilities and Net Assets / Fund Balance$44,403,743$40,068,891▼ $4,334,852

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$289,805$690,219$980,024
Equipment$2,396$6,407$8,803
Leasehold Improvements$0$197$197
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
J Mark DavisPresident & TreasurerFT$221,950$59,263$281,213
Jane H HopkinsExecutive VP & Secretary/treasFT$133,461$24,800$158,261

Board Members and Trustees

NameTitle
Claude B NielsenChairman
Beatriz PerezBoard Member
Clyde TuggleBoard Member
Hendrick SteckhanBoard Member
Jason PateBoard Member
John E Jack PeloBoard Member
Julie HamiltonBoard Member
Kirk TylerBoard Member
Morgan H EverettBoard Member
T Martin WilliamsBoard Member
Vicki R PalmerBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$4,603,445
Program Service Revenue
$33,250
Investment Income
$1,710,136
Other Revenue
$0
All Other Contributions
$4,603,445
Change in Net Assets
$102,140

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,346,831
Revenue Not Reported on Form 990
$-2,268,722
Total Revenue per Audited Statements
$4,078,109
Total Revenue per Form 990
$6,346,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,430,898
Other Expenses$1,724,246
Salaries, Compensation, and Employee Benefits$1,074,748
Total Fundraising Expense$179,862
Professional Fundraising Fees$14,799

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$2,958,398--$2,958,398
Fees for Services Other$417,885$45,149-$463,034
Grants to Domestic Orgs$450,000--$450,000
Current Officers, Directors, Trustees, and Key Employees$265,319$174,155-$439,474
Other Salaries and Wages$332,939$81,318-$414,257
Travel$123,618$24,706$3,751$152,075
Fees for Service Investment Mgmnt Fees-$148,089-$148,089
Depreciation Depletion$97,766--$97,766
Pension Plan Contributions$61,417$34,889-$96,306
Other Employee Benefits$48,077$20,356-$68,433
Fees for Services Accounting-$67,000-$67,000
Payroll Taxes$39,537$16,741-$56,278
Conferences and Meetings$36,269$4,812-$41,081
Other Expenses$21,510$18,435$5,167$39,945
Insurance-$29,708-$29,708
Foreign Grants$22,500--$22,500
Fees for Services Professional Fundraising--$14,799$14,799
Office Expenses$7,803$6,772-$14,575
All Other Expenses$10,000--$10,000
Fees for Services Legal-$2,357-$2,357
Total Functional Expenses$5,382,509$682,320$179,862$6,244,691

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,604,829
Expenses per Audited Statements$6,244,691
Total Expenses per Form 990$6,244,691
Expenses Not Reported on Form 990$360,138
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Phi Theta KappaJackson, MS501(c)(3)-$400,000
American Association of community collegesWashington, DC501(c)(3)-$50,000

International Summary

Spending
$22,500

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaGrantmakingScholarships--$22,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$14,799
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B

“The form 990 is first reviewed by the Executive Vice President with a final copy provided to each member of the board of directors prior to filing.”

Form 990, Part VI, Line 12C

“Board of directors and officers sign conflict of interest policy annually. Conflicts of interest statements are reviewed by management and the chairman of the board of directors. No conflicts were noted for the 12/31/15 year end. If a conflict were deemed to exist by either management or the board chairman, member would be barred from voting.”

Form 990, Part VI, Line 15A & 15B

“All employees' compensation is reviewed annually by the entire board of directors. Appropriate salary survey information from national publishers including abbot, langer & associates, guidestar, and the council on foundations are provided.”

Filing and Contact Details

Filer

Filer Name
Coca-cola Scholars Foundation Inc
EIN
58-1686023
In Care Of
% LAQUANDA PRICE
Phone
4047335434
Address
1 Coca-Cola Plaza Nat 742, Atlanta, GA 30313

Signing Officer

Name
J Mark Davis
Title
president/ treasurer
Phone
4047335434
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Mark Davis
Formed
1986
Legal Domicile
De
Voting Board Members
11
Independent Board Members
11
Employees
12
Volunteers
0

Preparer

Firm
Smith & Howard Pc
Address
271 17TH STREET SUITE 1600, ATLANTA, GA 30363
Preparer
Marc Azar
Phone
4048746244
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 8

“Prior period adjustment related to bad debt of $132,300.”

Financial Statement Notes

Schedule D, Part XII

“Prior period adjustment related to bad debt of $132,300.”

Schedule D, Part XIII

“The Foundation is exempt from income taxes under Section 501(a) as an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. Accordingly, no provision for federal or state income taxes has been made in the accompanying financial statements. The Foundation annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Foundation takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. In the normal course of business, the Foundation is subject to examination by the federal and state taxing authorities. In general, the Foundation is no longer subject to tax examinations for the tax years ending before December 31, 2012.”

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IRS990/Form990PartVIISectionAGrp/PersonNm11J MARK DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm12JANE H HOPKINS
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12EXECUTIVE VP & SECRETARY/TREAS
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0By awarding post-secondary scholarships, the Coca-Cola Scholars Foundation exists to develop an influential community of service-minded leaders, connected by Coca-Cola, who positively shape the world.
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IRS990/OtherExpensesGrp/Desc1MEALS & ENTERTAINMENT
IRS990/OtherExpensesGrp/Desc2GIFTS FOR SCHOLARS & SPEAKERS
IRS990/OtherExpensesGrp/Desc3OTHER EXPENSES
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IRS990/OtherExpensesGrp/FundraisingAmt110139
IRS990/OtherExpensesGrp/FundraisingAmt25167
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt039537
IRS990/PayrollTaxesGrp/TotalAmt056278
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt061417
IRS990/PensionPlanContributionsGrp/TotalAmt096306
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt046893
IRS990/PrincipalOfficerNm0J MARK DAVIS
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,068,891
Liabilities
$354,564
Net assets
$39,714,327
Revenue
$6,346,831
Expenses
$6,244,691
Net income
$102,140
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$72.4$0.39$72.0$5.97$6.87$0.90
2023Detailed filing. Detailed filing data is available for this year.$69.9$0.36$69.5$6.17$7.25$1.08
2022Detailed filing. Detailed filing data is available for this year.$66.7$0.46$66.2$8.69$5.01$3.69
2021Detailed filing. Detailed filing data is available for this year.$71.6$2.60$69.0$31.6$4.83$26.8
2020Detailed filing. Detailed filing data is available for this year.$40.5$0.65$39.9$2.20$4.35$2.15
2019Detailed filing. Detailed filing data is available for this year.$40.2$0.38$39.8$3.22$5.94$2.72
2018Detailed filing. Detailed filing data is available for this year.$38.3$1.01$37.3$3.81$7.12$3.31
2017Detailed filing. Detailed filing data is available for this year.$45.9$0.29$45.6$6.06$6.17$0.11
2016Detailed filing. Detailed filing data is available for this year.$42.1$1.04$41.1$7.78$6.09$1.69
2015Detailed filing. Detailed filing data is available for this year.$40.1$0.35$39.7$6.35$6.24$0.10
2014Detailed filing. Detailed filing data is available for this year.$44.4$2.16$42.2$6.43$6.76$0.33
2013Summary only. Only limited summary data is available for this year.$44.5$1.68$42.8$7.90$7.45$0.44
2012Summary only. Only limited summary data is available for this year.$41.3$0.23$41.1$7.20$6.44$0.75
2011Summary only. Only limited summary data is available for this year.$39.2$0.55$38.7$14.6$6.29$8.33
2010Summary only. Only limited summary data is available for this year.$35.0$0.74$34.2$4.72$6.30$1.58