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Founders Scholarship Fund Inc

  • Norfolk, VA
  • Tax-exempt since April 2012
  • EIN: 45-4713485

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Scholarships, Student Financial Aid Services, Awards (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$4.85k (2024)

Expenses
$34.2k (2024)

Total Assets
$110k (2024)

Total Liabilities
$0 (2024)

Source: Form 990 tax filings from 2012 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$4,846
Expenses
$34,171
Net Income
-$29,325
Net Assets
$109,868
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $4,846
100%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $32,746
95.8%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $109,868
Total Liabilities $0
Net Assets $109,868
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on April 21, 2025

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$15,804
Expenses
$34,992
Net Income
-$19,188
Net Assets
$139,193
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $15,000
94.9%
Interest Revenue $804
5.1%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $33,652
96.2%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $139,193
Total Liabilities $0
Net Assets $139,193
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on May 8, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$518
Expenses
$31,349
Net Income
-$30,831
Net Assets
$158,381
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $500
96.5%
Interest Revenue $18
3.5%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $30,149
96.2%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $158,381
Total Liabilities $0
Net Assets $158,381
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on Nov. 3, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$821
Expenses
$26,300
Net Income
-$25,479
Net Assets
$189,212
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $800
97.4%
Interest Revenue $21
2.6%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $25,200
95.8%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $189,212
Total Liabilities $0
Net Assets $189,212
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on Nov. 4, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,628
Expenses
$1,100
Net Income
$528
Net Assets
$214,690
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $1,600
98.3%
Interest Revenue $28
1.7%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $0
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $214,691
Total Liabilities $1
Net Assets $214,690
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on Oct. 13, 2021

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$16,743
Expenses
$20,370
Net Income
-$3,627
Net Assets
$214,162
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $16,700
99.7%
Interest Revenue $43
0.3%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $19,300
94.7%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $214,163
Total Liabilities $1
Net Assets $214,162
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on Sept. 23, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$17,121
Expenses
$28,238
Net Income
-$11,117
Net Assets
$217,790
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $17,050
99.6%
Interest Revenue $71
0.4%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $27,168
96.2%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $217,790
Total Liabilities $0
Net Assets $217,790
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on Oct. 7, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$21,595
Expenses
$39,063
Net Income
-$17,468
Net Assets
$228,907
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $21,500
99.6%
Interest Revenue $95
0.4%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $34,963
89.5%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $228,907
Total Liabilities $0
Net Assets $228,907
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on Oct. 24, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$42,333
Expenses
$119,621
Net Income
-$77,288
Net Assets
$246,375
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $42,200
99.7%
Interest Revenue $133
0.3%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $116,895
97.7%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $246,375
Total Liabilities $0
Net Assets $246,375
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on May 4, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$126,733
Expenses
$108,068
Net Income
$18,665
Net Assets
$323,663
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $126,600
99.9%
Interest Revenue $133
0.1%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $105,567
97.7%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $323,663
Total Liabilities $0
Net Assets $323,663
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
R John Armstrong (Director) $0 $0
Cecil L Achord (Director) $0 $0

Document Links

990-PF
Filed on May 13, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$129,936
Expenses
$76,359
Net Income
$53,577
Net Assets
$304,998
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $129,820
99.9%
Interest Revenue $116
0.1%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $73,490
96.2%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $304,998
Total Liabilities $0
Net Assets $304,998
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Edward A Wardwell (Director) $0 $0
R John Armstrong (Director) $0 $0
Cecil L Achord (Director) $0 $0
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Document Links

990-PF
Filed on April 14, 2015

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$141,703
Expenses
$67,548
Net Income
$74,155
Net Assets
$251,421
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $141,600
99.9%
Interest Revenue $103
0.1%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $64,764
95.9%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $251,421
Total Liabilities $0
Net Assets $251,421
Compensation
Key Employees and Officers Compensation Other
Gregory S Lee (Executive Director) $0 $0
Edward A Wardwell (Director) $0 $0
R John Armstrong (Director) $0 $0
Cecil L Achord (Director) $0 $0
+ View more people

Document Links

990-PF
Filed on March 17, 2014

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$217,349
Expenses
$40,083
Net Income
$177,266
Net Assets
$177,266
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $217,260
100.0%
Interest Revenue $89
0.0%
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $40,000
99.8%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $177,266
Total Liabilities $0
Net Assets $177,266

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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  • Raw filing data. Includes EINs and summary financials as structured data.
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Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

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