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Unit Scholarship Fund INC

Tax-deductible

Fort Bragg, NC501(c)(3)EducationEIN 56-1851232Revenue $918K in FY2024

On file with the IRSunitscholarshipfund.orgPo Box 73338, 28307-3338 · Fort Bragg, NCTax-exempt since Mar 1995Publicly supported charity — 170(b)(1)(A)(vi)

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To award merit based education scholarships to dependents of current, former, and retired Unit members

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $442K a year · 55% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
34 mo
of spending, in cash
Looks good: 34.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$918K
+20% vs prior year
Spent
$430K
To programs
91%
Net assets
$7.6M
By yearFY2020–FY2024
Revenue
$918K
FY2024▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2020$804K
FY2021$890K
FY2022$674K
FY2023$766K
FY2024$918K
Expenses
$430K
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$362K
FY2021$316K
FY2022$323K
FY2023$411K
FY2024$430K
Net assets
$7.6M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.0M
FY2021$6.8M
FY2022$6.1M
FY2023$6.8M
FY2024$7.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1995.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $392K Management & general 9% · $39K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Don Ottilige
Secretary
$0Pt VII · Sec A
Janet Robinson
Board Member
$0Pt VII · Sec A
Kate Matuza
Treasurer
$0Pt VII · Sec A
Danielle Stalker
Board Member
$0Pt VII · Sec A
Cheri Carlson
Board Member
$0Pt VII · Sec A
Elias Gonzalez
Board Member
$0Pt VII · Sec A
Ron Matysek
Board Member
$0Pt VII · Sec A
See Unit Scholarship Fund INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards merit-based scholarships to dependents of military unit members.

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Provided by the organization

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1 program · $392K · in their own filed words · FY2024
01

The unit scholarship fund awarded merit based post secondary education scholarships to 245 recipients. Scholarship checks are written directly to the educational institution for tuition and fees on behalf of the recipients.

$392Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Special Operations FundFY2025$50K
Total grants receivedfrom 1 funder$50K
Grants paid · 1 grant · $304K · 2021–2021
Unitemized GrantFY2021$304,451

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$918K
Ln 12
Gifts and grantsLn 1h$894K
Investment incomeLn 3$321K
Money outPt IX
$430K
Ln 25
Programscol B$392K
Managementcol C$39K
Owns and owesPt X
$7.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$7.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$894K
Fundraising eventsLn 1c$471K
Investment incomeLn 3$321K
Total revenueLn 12$918K
Assets in detailPt X, end of year
CashLn 1$377K
SavingsLn 2$849K
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$6.4M
Total assetsLn 16$7.6M
LiabilitiesLn 26$0
Net assetsLn 32$7.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.8M$1.2M
InvestmentsLn 11–13$5.0M$6.4M
Total assetsLn 16$6.8M$7.6M
LiabilitiesLn 26$0$0
Net assetsLn 32$6.8M$7.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$392K$392K
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$1K$1K
Office expensesLn 13$21K$21K
TravelLn 17$4K$4K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$430K$392K$39K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $918K$430K$488K$7.6M 990 PDF
FY2023 $766K$411K$355K$6.8M 990 PDF
FY2022 $674K$323K$351K$6.1M 990 PDF
FY2021 $890K$316K$574K$6.8M 990 PDF
FY2020 $804K$362K$442K$6.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $918,396 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $753,230$894,118
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $270,955$321,187
I-11 Other revenuePrior year −$258,301−$296,909
I-12 Total revenuePrior year $765,884$918,396
I-13 Grants and similar amounts paidPrior year $353,171$391,655
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $57,351$38,586
I-18 Total expensesPrior year $410,522$430,241
I-19 Revenue less expensesPrior year $355,362$488,155
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $918,396 across 6 lines filed
VIII-1c Fundraising events$471,340
VIII-1f All other contributions, gifts and grants$422,778
VIII-1h Total contributions, gifts and grants$894,118
VIII-3 Investment incomeRelated to mission $321,187$321,187
VIII-8 Net income from fundraising eventsExcluded from tax −$296,909−$296,909
VIII-12 Total revenueRelated to mission $321,187 · Unrelated business $0 · Excluded from tax −$296,909$918,396
Part IX · Statement of functional expenses $430,241 across 7 lines filed
IX-2 Grants to domestic individualsPrograms $391,655$391,655
IX-11c Accounting feesManagement $8,000$8,000
IX-11f Investment management feesManagement $1,271$1,271
IX-13 Office expensesManagement $20,572$20,572
IX-17 TravelManagement $3,553$3,553
IX-23 InsuranceManagement $1,410$1,410
IX-24 Other expenses (24a–d)Management $3,780$3,780
IX-25 Total functional expensesPrograms $391,655 · Management $38,586 · Fundraising $0$430,241
Part X · Balance sheet $7,588,269 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $552,439$377,407
X-2 Savings and temporary cash investmentsStart of year $1,210,616$848,591
X-11 Publicly traded securitiesStart of year $5,038,850$6,353,398
X-12 Other securitiesStart of year $4,040$8,873
X-16 Total assetsStart of year $6,805,945$7,588,269
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $6,805,945$7,588,269
X-32 Total net assets or fund balancesStart of year $6,805,945$7,588,269
X-33 Total liabilities and net assetsStart of year $6,805,945$7,588,269
Part XI · Reconciliation of net assets $7,588,269 net assets at year end
XI-1 Total revenue$918,396
XI-2 Total expenses$430,241
XI-3 Revenue less expenses$488,155
XI-4 Net assets at start of year$6,805,945
XI-5 Net unrealized gains (losses) on investments$294,168
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,588,269

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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