New Orleans Public Schools Scholarship Foundation in New Orleans, Louisiana (LA)

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New Orleans Public Schools Scholarship Foundation
Employer Identification Number (EIN)721052017
Name of OrganizationNew Orleans Public Schools Scholarship Foundation
AddressPO BOX 871812, New Orleans, LA 70187-1812
ActivitiesScholarships (other)
SubsectionCharitable Organization, Educational Organization
Ruling Date03/1986
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$1,171,038
Amount of Income$38,514
Form 990 Revenue Amount$38,514
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2013: $38,514
New Orleans Public Schools Scholarship Foundation: 

 $38,514
Other organizations performing similar types of work: 

 $299,534

Assets in 2013: $1,171,038
New Orleans Public Schools Scholarship Foundation: 

 $1,171,038
Other organizations performing similar types of work: 

 $1,135,383

Expenses in 2012: $55,971
This organization: 

 $55,971
Other organizations performing similar types of work: 

 $135,405

Income to expenses ratio in 2012: 0.7
New Orleans Public Schools Scholarship Foundation: 

 0.7
Other organizations performing similar types of work: 

 1.8

Expenses allocated to program services in 2003: 71.3%
New Orleans Public Schools Scholarship Foundation: 

 71.3%
Other organizations performing similar types of work: 

 82.4%

Grants share in income in 2012: 0.0%
New Orleans Public Schools Scholarship Foundation: 

 0.0%
Other organizations performing similar types of work: 

 74.1%

Financial snapshot ($)

Revenue for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$45,393
Contributions, Gifts, Grants and Other Similar Amounts$17
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$45,376
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$55,971
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$55,971
Balance Sheet (for 2012)
Total assets$1,252,364
Total liabilities$0
Total net assets or fund balances$1,252,364
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$428,506
Gifts, grants, contributions, and membership fees received$428,506
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012003
Total revenue$513,832$153,960$393,382
Contributions, gifts, grants, and similar amounts received$275,089$230,552$317,566
Contributions to donor advised funds
Direct public support$275,089$230,552$317,566
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$0$0$816
Dividends and interest from securities$23,003$32,040$0
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$9,591$10,000$75,000
Gain or (loss) from sales of assets other than inventory$6,430$-120,364$0
Gross amount from sales of assets other than inventory$6,430$1,033,797$0
Less: cost or other basis and sales expenses$0$1,154,161$0
Net income or (loss) from special events and activities$199,719$0$0
Gross revenue$199,719$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$1,732$0
Total expenses$556,224$340,200$416,561
Program services$381,602$161,081$296,959
Management and general$118,210$138,496$67,682
Fundraising$56,412$40,623$51,920
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$1,322,322$1,134,577$1,064,206
Excess or (deficit) for the year$-42,392$-186,240$-23,179
Net assets or fund balances at beginning of year$1,364,714$1,322,317$809,231
Other changes in net assets or fund balances$0$-1,500$278,154
Statement of Functional Expenses (for 2003)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$416,561$296,959$67,682$51,920
Grants paid from donor advised funds
Other grants and allocations$120,450
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,500$1,500$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$79,045$64,299$14,746$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$17,587$12,545$5,042$0
Payroll taxes$10,456$8,365$2,091$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$10,640$0$6,726$3,914
Telephone$320$0$320$0
Postage and shipping$892$0$892$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$16,383$4,562$0$11,821
Travel$6,483$0$6,483$0
Conferences, conventions, and meetings$2,049$0$2,049$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$150,756$85,238$29,333$36,185
Balance Sheets
200020012003
Total assets$1,326,409$1,141,473$1,075,411
Cash - non-interest-bearing$145,048$57,969$31,908
Savings and temporary cash investments$200$200$200
Accounts receivable less allowance for doubtful accounts$0$51,050$0
Pledges receivable less allowance for doubtful accounts$27,000$0$51,050
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$1,154,161$1,032,254$992,253
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0
Other assets, including program-related investments$0$0$0
Total liabilities$4,092$6,896$11,205
Accounts payable and accrued expenses$4,092$6,896$11,205
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$1,326,409$1,141,473$1,075,411
Total net assets or fund balances$1,322,317$1,134,577$1,064,206
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012003
Total revenue$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012003
Total expenses$0$0$0
Total expenses and losses per audited financial statements$0$0$0
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20062
Analysis of Income-Producing Activities (for 2003)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2003)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2003)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2003)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002002
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2003)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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2W W Wannamaker Citadel Star Of The West MaPO BOX 2904, Wilson, NC 27894-2904NC1953-02$2,852,405
3New Orleans Public Schools Scholarship FoundationPO BOX 871812, New Orleans, LA 70187-1812LA1986-03$38,514
4Dr & Mrs Mark Franks Scholarship Fund419 Highway 165 N, Oakdale, LA 71463-2589LA1998-07$29,358
5Top Ladies Of Distinction Inc, Parent2914 Southmore Blvd, Houston, TX 77004-7710TX1974-11$557,438
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11Thomas S Gunning Scholarship Foundation100 Grossman Drive, Braintree, MA 02184-4949MA2001-10$156,600
12St Mary Central Education Tuition Assistance Fund 03261998PO BOX 12800, Green Bay, WI 54307-2800WI1999-10$134,347
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Number of organizations performing similar types of work
Alaska3
Alabama12
Arkansas12
Arizona19
California92
Colorado3
Connecticut3
District of Columbia7
Delaware2
Florida9
Georgia9
Hawaii3
Iowa8
Idaho1
Illinois28
Indiana7
Kentucky4
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota27
Missouri8
Mississippi3
Montana1
North Carolina16
North Dakota2
Nebraska2
New Hampshire2
New Jersey12
New Mexico1
Nevada1
New York16
Ohio17
Oklahoma3
Oregon1
Pennsylvania16
Rhode Island1
South Carolina5
South Dakota2
Tennessee5
Texas37
Utah1
Virginia14
Vermont1
Washington5
Wisconsin12
Wyoming3
International3
Total469

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