RINGS VS RENT SCHOLARSHIP FOUNDATION

EIN: 320430180 501(c)(3) Education

QUINTON, VA

Total Revenue
$536,821
Total Expenses
$415,603
Total Assets
$106,363
Net Assets
$106,363
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
VA
Phone
8045572648
Tax Period
2024-01-01 to 2024-12-31

RINGS VS RENT SCHOLARSHIP FOUNDATION, founded in 2014, is a small nonprofit in the Education sector that reported $537K in total revenue in fiscal year 2024. The organization ran a surplus of $121K, a strong 23% operating margin.

Mission

RINGS VS RENT SCHOLARSHIP FOUNDATION SEEKS TO PROVIDE PROACTIVE AND INCREASED ATTENTION TO THE TIMELINESS AND ACCESS TO COLLEGE AND CAREER READINESS OPPORTUNITIES FOR STUDENTS THAT WILL COUNTER THE ASPECTS OF VIOLENCE IN LOW-INCOME COMMUNITIES.

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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 $536,821
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $536,821

Expense Breakdown

Grants Paid $1,105
Salaries & Benefits $144,622
Fundraising Expenses $0
Program Expenses $377,134
Other Expenses $269,876
TOTAL EXPENSES $415,603

Year-over-Year Comparison

2024 2023 Change
Revenue $536,821 N/A N/A
Expenses $415,603 $14,855 +27.0%
Net Income $121,218 $-14,855 -9.2%
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
1
Independent Members
1
Employees
N/A
Volunteers
N/A

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
1
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL L BAILEY PRESIDENT 10.00
Officer Director
$0 $0 $0
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
2024 $536,821 $415,603 $106,363 $121,218
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