Civic Intelligence

Army Scholarship Foundation Inc.

990 • Fiscal year 2021 • EIN 74-2996331

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 01, 2022

Organization Profilewww.armyscholarshipfoundation.Org
11700 Preston Road Ste 660-301Dallas, TX 75230

(703) 587-5181

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

19th percentile

0.00x

Higher debt load relative to revenue than 19% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

80th percentile

38%

Higher net margin than 80% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

66th percentile

19%

Faster asset growth than 66% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

67th percentile

31%

Faster revenue growth than 67% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$1,146,243

Up $180,661 (+19%) from 2020

Net Assets

Up

$1,145,402

Up $179,928 (+19%) from 2020

Liabilities

Up

$841

Up $733 (+679%) from 2020

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin80th percentile

Revenue

Up

$476,133

Up $113,038 (+31%) from 2020

Expenses

Up

$296,204

Up $83,390 (+39%) from 2020

Net Income

Up

$179,929

Up $29,648 (+20%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $130,038Liabilities 2011: $0Net Assets 2011: $130,0382011Assets 2012: $199,411Liabilities 2012: $0Net Assets 2012: $199,4112012Assets 2013: $278,242Liabilities 2013: $0Net Assets 2013: $278,2422013Assets 2014: $348,367Liabilities 2014: $0Net Assets 2014: $348,3672014Assets 2015: $509,828Liabilities 2015: $33Net Assets 2015: $509,7952015Assets 2016: $602,803Liabilities 2016: $10,103Net Assets 2016: $592,7002016Assets 2017: $726,955Liabilities 2017: $1,463Net Assets 2017: $725,4922017Assets 2018: $811,571Liabilities 2018: $104Net Assets 2018: $811,4672018Assets 2019: $815,222Liabilities 2019: $27Net Assets 2019: $815,2222019Assets 2020: $965,582Liabilities 2020: $108Net Assets 2020: $965,4742020Assets 2021: $1,146,243Liabilities 2021: $841Net Assets 2021: $1,145,4022021Assets 2022: $1,337,001Liabilities 2022: $1,924Net Assets 2022: $1,335,0772022Assets 2023: $1,629,850Liabilities 2023: $2,255Net Assets 2023: $1,627,5952023Assets 2024: $2,255,136Liabilities 2024: $4,364Net Assets 2024: $2,250,7722024

Highlighted filing

2021

Assets$1,146,243
Liabilities$841
Net Assets$1,145,402
Open 2021 Filing

Operations Trend

Revenue Growth67th percentile

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

$1.5M$1.0M$500K$0Revenue 2011: $40,966Expenses 2011: $6,752Net Income 2011: $34,2142011Revenue 2012: $78,010Expenses 2012: $8,636Net Income 2012: $69,3742012Revenue 2013: $97,411Expenses 2013: $18,580Net Income 2013: $78,8312013Revenue 2014: $102,763Expenses 2014: $32,802Net Income 2014: $69,9612014Revenue 2015: $224,643Expenses 2015: $63,214Net Income 2015: $161,4292015Revenue 2016: $203,514Expenses 2016: $120,610Net Income 2016: $82,9042016Revenue 2017: $273,803Expenses 2017: $141,011Net Income 2017: $132,7922017Revenue 2018: $289,658Expenses 2018: $203,683Net Income 2018: $85,9752018Revenue 2019: $293,098Expenses 2019: $289,369Net Income 2019: $3,7292019Revenue 2020: $363,095Expenses 2020: $212,814Net Income 2020: $150,2812020Revenue 2021: $476,133Expenses 2021: $296,204Net Income 2021: $179,9292021Revenue 2022: $484,248Expenses 2022: $294,573Net Income 2022: $189,6752022Revenue 2023: $727,632Expenses 2023: $435,114Net Income 2023: $292,5182023Revenue 2024: $1,138,277Expenses 2024: $515,099Net Income 2024: $623,1782024

Highlighted filing

2021

Revenue$476,133
Expenses$296,204
Net Income$179,929
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 1, 2022
Return Version
2021v4.2
Gross Receipts
$476,133
Mission and Program Overview

Mission

Provide college level academic scholarships to the children and spouses of active duty U.S. Military

Provide academic scholarships to the children of soldiers in the US Military and the spouses of US Military active duty enlisted soldier

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$949,159$1,119,129▲ $169,970
Cash and Non-Interest-Bearing Accounts$12,823$27,062▲ $14,239
Prepaid Expenses and Deferred Charges$3,600$52▼ $3,548
Total Assets$965,582$1,146,243▲ $180,661
Liabilities
Accounts Payable and Accrued Expenses$108$841▲ $733
Total Liabilities$108$841▲ $733
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$657,869$699,982▲ $42,113
Net Assets With Donor Restrictions$307,605$445,420▲ $137,815
Total Net Assets Fund Balance$965,474$1,145,402▲ $179,928
Total Liabilities and Net Assets / Fund Balance$965,582$1,146,243▲ $180,661

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$456,659--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jeff GaultChairmanCEO
Rose GaultPresident
Christopher LeppBoard Member
Ellen HoulihanBoard Member
Keirn BrownBoard Member
Michael GonzalezBoard Member
Joel GraySecretary
Phillip ShearerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$440,683
Program Service Revenue
$0
Investment Income
$35,450
Other Revenue
$0
All Other Contributions
$405,098
Change in Net Assets
$179,929

Audited Revenue Reconciliation

Revenue per Audited Statements
$476,133
Total Revenue per Audited Statements
$476,133
Total Revenue per Form 990
$476,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$275,834
Other Expenses$20,370
Total Fundraising Expense$3,182
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$275,834--$275,834
Fees for Services Accounting$5,494$2,976-$8,470
Advertising$4,748-$2,007$6,755
Other Expenses$1,874--$1,874
Office Expenses$616$616$615$1,847
Fees for Services Management--$560$560
Insurance$295$247-$542
Total Functional Expenses$289,183$3,839$3,182$296,204

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$296,204
Total Expenses per Audited Statements$296,204
Total Expenses per Form 990$296,204
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Luncheon$50,031$50,031$693$49,338
Total Events$50,031$50,031$14,446$35,585
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
None-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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

Part VI Line 11B

“Each member of the board of directors as well as the Foundation's legal”

Part VI Line 15A or B

“The process for reviewing salaries is in place. But has been used as no”

Part VI Line 15A or B

“person received a salary from ASF.”

Part VI Line 18

“All applicable documents are made available to the public upon request - at”

Part VI Line 18

“no cost to the requesting party.”

Part VI Line 19

“All applicable documents are made available to the public upon request - at”

Part VI Line 19

“no cost to the requesting party.”

Filing and Contact Details

Filer

Filer Name
Army Scholarship Foundation Inc
EIN
74-2996331
In Care Of
% Jeff W Gault
Phone
7035875181
Address
11700 Preston Road Ste 660-301, Dallas, TX 75230

Signing Officer

Name
Jeff W Gault
Title
Chairman
Phone
9722315245
Signed
2022-06-01

Organization Details

Principal Officer
Jeff Gault
Formed
2001
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
50
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1476566
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2456659
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Bank Certificates of Deposits
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Bank MMA Savings Account
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2public Held Equity Interests
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0None
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0None
IRS990ScheduleD/RevenueSubtotalAmt0476133
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/TotalBookValueProgramRltdAmt01119129
IRS990ScheduleD/TotalExpensesPerForm990Amt0296204
IRS990ScheduleD/TotalRevenuePerForm990Amt0476133
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0476133
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0296204
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt014446
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt03000
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt03000
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Luncheon
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt09913
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt09913
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt050031
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt050031
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt050031
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt050031
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt035585
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0693
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0693
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt0840
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt0840
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0279000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1-3166
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0College ScholarshipsStmt1
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1College ScholarshipsStmt1
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0NA
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc1NA
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0279
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt13
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0Checks
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc1checks
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Part 1 Line 12 Procedures for monitoring the use of
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1grant funds Applications are solicited through the
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt2ASFs website The application period occurs annually in
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt3the spring for the fall semester App applications are
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt4reviewed for eligibility and completeness by a selection
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt5committee of volunteers A panel of volunteers board
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt6members and officers review the eligible applications and
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt7determine which applicants meet ASFs criteria for a
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt8scholarship award All scholarship funds are paid to the
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt9academic institution in the applicants name
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1Part III LIne 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc2Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc3Part III LIne 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc4Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc5Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc6Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc7Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc8Part III Line 1
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc9Part III Line 1
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Each member of the board of directors as well as the Foundation's legal
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The process for reviewing salaries is in place. But has been used as no
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2person received a salary from ASF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All applicable documents are made available to the public upon request - at
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4no cost to the requesting party.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All applicable documents are made available to the public upon request - at
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6no cost to the requesting party.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 15a or b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 15a or b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part VI Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part VI Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part VI Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0965582
IRS990/TotalAssetsEOYAmt01146243
IRS990/TotalAssetsGrp/BOYAmt0965582
IRS990/TotalAssetsGrp/EOYAmt01146243
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0440683
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03182
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03839
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0289183
IRS990/TotalFunctionalExpensesGrp/TotalAmt0296204
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0108
IRS990/TotalLiabilitiesEOYAmt0841
IRS990/TotalLiabilitiesGrp/BOYAmt0108
IRS990/TotalLiabilitiesGrp/EOYAmt0841
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0965474
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01145402
IRS990/TotalProgramServiceExpensesAmt0289183
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt035450
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0476133
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0965582
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01146243
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011700 Preston Road Ste 660-301
IRS990/USAddress/CityNm0Dallas
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075230
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.armyscholarshipfoundation.Org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFF W GAULT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/PhoneNum09722315245
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Army Scholarship Foundation Inc

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,146,243
Liabilities
$841
Net assets
$1,145,402
Revenue
$476,133
Expenses
$296,204
Net income
$179,929
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.26$0.00$2.25$1.14$0.52$0.62
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$0.00$1.63$0.73$0.44$0.29
2022Detailed filing. Detailed filing data is available for this year.$1.34$0.00$1.34$0.48$0.29$0.19
2021Detailed filing. Detailed filing data is available for this year.$1.15$0.00$1.15$0.48$0.30$0.18
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.00$0.97$0.36$0.21$0.15
2019Summary only. Only limited summary data is available for this year.$0.82$0.00$0.82$0.29$0.29$0.00
2018Summary only. Only limited summary data is available for this year.$0.81$0.00$0.81$0.29$0.20$0.09
2017Summary only. Only limited summary data is available for this year.$0.73$0.00$0.73$0.27$0.14$0.13
2016Summary only. Only limited summary data is available for this year.$0.60$0.01$0.59$0.20$0.12$0.08
2015Summary only. Only limited summary data is available for this year.$0.51$0.00$0.51$0.22$0.06$0.16
2014Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.10$0.03$0.07
2013Summary only. Only limited summary data is available for this year.$0.28$0.00$0.28$0.10$0.02$0.08
2012Summary only. Only limited summary data is available for this year.$0.20$0.00$0.20$0.08$0.01$0.07
2011Summary only. Only limited summary data is available for this year.$0.13$0.00$0.13$0.04$0.01$0.03