Civic Intelligence

Army Scholarship Foundation Inc.

990 • Fiscal year 2023 • EIN 74-2996331

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 07, 2024

11700 Preston Road Ste 660-301Dallas, TX 75230-6112

(703) 587-5181

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

22nd percentile

0.00x

Higher debt load relative to revenue than 22% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

87th percentile

40%

Higher net margin than 87% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

78th percentile

22%

Faster asset growth than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

83rd percentile

50%

Faster revenue growth than 83% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,629,850

Up $292,849 (+22%) from 2022

Net Assets

Up

$1,627,595

Up $292,518 (+22%) from 2022

Liabilities

Up

$2,255

Up $331 (+17%) from 2022

Revenue

Up

$727,632

Up $243,384 (+50%) from 2022

Expenses

Up

$435,114

Up $140,541 (+48%) from 2022

Net Income

Up

$292,518

Up $102,843 (+54%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$1,629,850
Liabilities$2,255
Net Assets$1,627,595

Operations Trend

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

2023

Revenue$727,632
Expenses$435,114
Net Income$292,518
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 7, 2024
Return Version
2023v5.1
Gross Receipts
$727,632
Mission and Program Overview

Mission

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

Provide college level academic scholarships to the children and spouse of active duty US Military

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,252,294$1,574,219▲ $321,925
Investments Program Related$32,000$25,600▼ $6,400
Accounts Receivable$4,500$16,205▲ $11,705
Cash and Non-Interest-Bearing Accounts$48,155$12,578▼ $35,577
Land, Buildings, and Equipment, Net-$1,193-
Prepaid Expenses and Deferred Charges$52$55▲ $3
Total Assets$1,337,001$1,629,850▲ $292,849
Liabilities
Accounts Payable and Accrued Expenses$1,924$2,255▲ $331
Total Liabilities$1,924$2,255▲ $331
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$663,208$912,766▲ $249,558
Net Assets With Donor Restrictions$671,869$714,829▲ $42,960
Total Net Assets Fund Balance$1,335,077$1,627,595▲ $292,518
Total Liabilities and Net Assets / Fund Balance$1,337,001$1,629,850▲ $292,849

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$25,600--
Leasehold Improvements$1,193$295-
Other Securities$554,841--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jeff GaultChairman CEO
Rose GaultPresident
Christopher LeppBoard Member
Dana JohnsonBoard Member
Ellen HoulihanBoard Member
Keirn BrownBoard Member
Joel GraySecretary
Phillip ShearerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None NoneNone11700 Preston Road Ste 660-301, Dallas, TX 75230-6112-
Revenue and Support

Revenue Composition

Contributions and Grants
$639,518
Program Service Revenue
$0
Investment Income
$88,114
Other Revenue
$0
All Other Contributions
$545,848
Change in Net Assets
$292,518

Audited Revenue Reconciliation

Revenue per Audited Statements
$727,632
Total Revenue per Audited Statements
$727,632
Total Revenue per Form 990
$727,632
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$384,500
Other Expenses$50,614
Total Fundraising Expense$18,059
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$384,500--$384,500
Fees for Services Management$21,225-$1,311$22,536
Advertising$191-$15,944$16,135
Fees for Services Accounting-$6,072-$6,072
Office Expenses$2,815$134$804$3,753
Other Expenses-$1,067-$1,067
Insurance-$629-$629
Depreciation Depletion-$295-$295
Interest-$127-$127
Total Functional Expenses$408,731$8,324$18,059$435,114

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$435,114
Total Expenses per Audited Statements$435,114
Total Expenses per Form 990$435,114
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
Luncheons$150,330$150,330$8,281$142,049
Total Events$150,330$150,330$56,660$93,670
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 2

Jeff Gault and Rose Gault are married

Part VI Line 11B

Each board member is provided a copy of the return before

Part VI Line 11B

filing, and questions reviewed before filing

Part VI Line 12C

Potential conflicts reported by auditor, bookkeeper, volunteer,

Part VI Line 12C

or board member, are investaged by entire board.

Part VI Line 15A or B

ASF has never had employees - has not plants to hire employees.

Part VI Line 15A or B

Procedures would be implemented if needed.

Part VI Line 19

All documents are available upon request

Filing and Contact Details

Filer

Filer Name
Army Scholarship Foundation Inc
EIN
74-2996331
In Care Of
% Jeff Gault
Phone
7035875181
Address
11700 Preston Road Ste 660-301, Dallas, TX 75230-6112

Signing Officer

Name
Jeff Gault
Title
CEO
Phone
7035875181
Signed
2024-07-07

Organization Details

Principal Officer
Jeff Gault
Formed
2001
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
0
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Fundraising Advance Fees
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Arizona Dept of Transport
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2Customized License Plate
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3Advance Fee Program
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0314894
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1704484
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2554841
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IRS990ScheduleD/OtherSecuritiesGrp/Desc1Bank MMA Savings Account
IRS990ScheduleD/OtherSecuritiesGrp/Desc2Public Equity Stocks
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0384500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0College Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1Statement 1 Details
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0388
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Part 1 Line 2Procedures for monitoring the use of grant funds
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1Applications are solicited through the Foundations website The
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt2application period occures annually in the spring for the fall
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt3semester A selection committee reviews all applications for
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt4eligibility and completness The scholarship payments are made
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt5directly to the university and the funds are applied directly to
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt6the students course fees The foundation also stays in contact
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt7with the applicants to monitor use of the scholarships plus
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt8reminding them to apply for additional scholarships
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc2Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc3Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc4Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc5Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc6Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc7Part 1 Line 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc8Partr 1 Line 2
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Jeff Gault and Rose Gault are married
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each board member is provided a copy of the return before
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2filing, and questions reviewed before filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Potential conflicts reported by auditor, bookkeeper, volunteer,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4or board member, are investaged by entire board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ASF has never had employees - has not plants to hire employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Procedures would be implemented if needed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7All documents are available upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 2
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011700 Preston Road Ste 660-301
IRS990/USAddress/CityNm0Dallas
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd0752306112
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IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.armyscholarshipfoundation.org
IRS990/WhistleblowerPolicyInd0true

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
2023Detailed filing. Detailed filing data is available for this year.$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