NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION Charity Report

Tax-exempt status may be revoked

NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION

EIN 54-6068678 · Scholarships & Student Financial Aid (B82)

What they do

THE FOUNDATION SELECTS STUDENTS FROM ACCREDITED HIGH SCHOOLS WITHIN THE GEOGRAPHICAL BOUNDARIES of SOUTH HAMPTON ROADS, to RECEIVE A SCHOLARSHIP FROM THE NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION. THE SCHOLARSHIP SHALL PAY for TUITION, ROOM and BOARD, and OTHER COLLEGE EXPENSES BILLED DIRECTLY to THE FOUNDATION, (THE SCHOLARSHIP AMOUNT and NUMBER of SCHOLARSHIPS SHALL BE PREVIOUSLY DETERMINED BY THE BOARD of TRUSTEES) BY A COLLEGE or UNIVERSITY WITHIN THE COMMONWEALTH of VIRGINIA.

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This record may have an IRS status problem. Do not give until you verify it.

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Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2023The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders8 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

55.54%of revenue went to mission work100.0% of expenses · Program services

$55.54spent for every $100 of revenueRevenue covered expenses this year.

$24.90in assets for every $1 spent this yearSome assets cannot be spent right away.

8.6%of its money came from giftsOther money may come from services or investments.

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Money

Financial picture

Tax year 2023

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$70,911

Mission workProgram services$39,38455.54% of revenue100.0% of expenses

ManagementOffice and general costs0.00% of revenue0.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$31,52744.46% of revenueShown in gray on the chart

Total expenses$39,38455.54% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Money in and money out

Revenue$70,911

Expenses$39,384

Annual surplus $31,527 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$39,384 · 100.0% of expenses

See all reported dollar amounts

Revenue$70,911

Expenses$39,384

Assets$980,566

Income$70,911

Contributions$6,080

Mission work (program services)$39,384

People

Leadership and board

Tax year 2023

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (8)

AKEEM PROSSERPRESIDENT

BILL EMERSONCHAIRMAN

DAN EDWARDS1ST VICE PRESIDENT

ERIN ROUNDSECRETARY

HOWARD GORDONTRUSTEE

JACK ANKERSONTRUSTEE

JIM HOFFOWER2ND VICE PRESIDENT

JOE MONACOTREASURER

About this charity

Recognized since: January 2022
Location: PO BOX 12501, NORFOLK, VA 23541-0501
County: Norfolk (city)
In care of: % THE FOUNDATION
Primary officer: AKEEM PROSSER, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(757) 355-6019 Officer phone(757) 806-0186

Filing and classification

Latest tax year: 2023
Tax period began: January 1, 2023
Return type: 990
Tax preparer: PBMARES LLP
NTEE classification: Scholarships & Student Financial Aid (B82)
IRS tax category: Scholarships & Student Financial Aid
Revocation date: May 15, 2021