ANCHOR SCHOLARSHIP FOUNDATION INC

EIN: 320109100 501(c)(3) Education

VIRGINIA BEACH, VA

Total Revenue
$826,400
Total Expenses
$433,853
Total Assets
$2,430,543
Net Assets
$2,266,627
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
VA
Principal Officer
PAUL HAWKINS
Phone
7577774724
Tax Period
2024-07-01 to 2025-06-30

ANCHOR SCHOLARSHIP FOUNDATION INC, founded in 1980, is a small nonprofit in the Education sector that reported $283K in total revenue in fiscal year 2017. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $99K, a strong 35% operating margin.

Mission

INVESTING IN US SURFACE NAVY FAMILIES THROUGH HIGHER EDUCATION SCHOLARSHIPS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $616,292
Program Service Revenue $0
Investment Income $176,707
Other Revenue $33,401
TOTAL REVENUE $826,400

Expense Breakdown

Grants Paid $146,879
Salaries & Benefits $138,358
Fundraising Expenses $36,651
Program Expenses $362,868
Other Expenses $128,616
TOTAL EXPENSES $433,853

Year-over-Year Comparison

2024 2023 Change
Revenue $826,400 $476,197 +0.7%
Expenses $433,853 $378,605 +0.1%
Net Income $392,547 $97,592 +3.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
15
Independent Members
15
Employees
3
Volunteers
20

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
16
$79,800
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RDML DAVID STEINDL CHAIRMAN 1.00
Officer Director
$0 $0 $0
PAUL HAWKINS VICE CHAIR 1.00
Officer Director
$0 $0 $0
JACOB CHANG SECRETARY 1.00
Officer Director
$0 $0 $0
CAPT PERRY BINGHAM TREASURER 1.00
Officer Director
$0 $0 $0
MARYELLEN BALDWIN DIRECTOR 1.00
Director
$0 $0 $0
CAPT PETER BULKELEY DIRECTOR 1.00
Director
$0 $0 $0
CAPT WILLIAM CROW DIRECTOR 1.00
Director
$0 $0 $0
CAPT TOM HENNESSEY DIRECTOR 1.00
Director
$0 $0 $0
ERIC JENKUSKY DIRECTOR 1.00
Director
$0 $0 $0
RDML JIM LOEBLEIN DIRECTOR 1.00
Director
$0 $0 $0
DR LATITIA MCCANE DIRECTOR 1.00
Director
$0 $0 $0
NEIL PICKARD DIRECTOR 1.00
Director
$0 $0 $0
CARRIE ROBINSON DIRECTOR 1.00
Director
$0 $0 $0
RDML JESSE WILSON JR DIRECTOR 1.00
Director
$0 $0 $0
CDR WARD WILSON DIRECTOR 1.00
Director
$0 $0 $0
JOY EYROLLES EXECUTIVE DI 40.00
Director
$79,800 $0 $79,800
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $826,400 $433,853 $2,430,543 $392,547
2024 $476,197 $378,605 $1,985,453 $97,592
2023 $405,558 $316,940 $1,769,262 $88,618
2022 $343,193 $281,920 $1,531,904 $61,273
2021 $306,170 $217,394 $1,776,697 $88,776
2020 $725,571 $237,215 $1,455,635 $488,356
2019 $229,814 $217,972 $994,256 $11,842
2018 $283,417 $184,791 $980,739 $98,626
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