DOLPHIN SCHOLARSHIP FOUNDATION

EIN: 546038828 501(c)(3) Education

VIRGINIA BEACH, VA

Total Revenue
$709,954
Total Expenses
$723,748
Total Assets
$8,387,937
Net Assets
$8,332,580
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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
VA
Principal Officer
KEITH B FARGO
Phone
7576713200
Tax Period
2023-07-01 to 2024-06-30

DOLPHIN SCHOLARSHIP FOUNDATION, founded in 1990, is a small nonprofit in the Education sector that reported $776K in total revenue in fiscal year 2018. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $195K, a strong 25% operating margin.

Mission

THE DOLPHIN SCHOLARSHIP FOUNDATION (DSF) BELIEVES THAT ENHANCEMENT OF BOTH HUMAN POTENTIAL AND QUALITY OF LIFE IS ACHIEVABLE THROUGH EDUCATION. MANY SONS, DAUGHTERS, AND SPOUSES OF U.S. NAVY SUBMARINERS FACE FINANCIAL OBSTACLES WHILE PURSUING UNDERGRADUATE AND VOCATIONAL EDUCATION. DSF IS COMMITTED TO MINIMIZING THOSE OBSTACLES BY ASSISTING THEM IN REACHING THEIR FULLEST POTENTIAL.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $486,265
Program Service Revenue $0
Investment Income $159,125
Other Revenue $64,564
TOTAL REVENUE $709,954

Expense Breakdown

Grants Paid $473,194
Salaries & Benefits $167,053
Fundraising Expenses $18,537
Program Expenses $648,996
Other Expenses $83,501
TOTAL EXPENSES $723,748

Year-over-Year Comparison

2023 2022 Change
Revenue $709,954 $855,430 -0.2%
Expenses $723,748 $635,644 +0.1%
Net Income $-13,794 $219,786 -1.1%
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
11
Independent Members
11
Employees
6
Volunteers
13

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
5
$95,088
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVEN W MAAS PRESIDENT 5.00
Officer Director
$0 $0 $0
RENEA GAUCHER CHAIRPERSON 1.00
Officer Director
$0 $0 $0
SCOTT R VAN BUSKIRK VICE PRESIDE 1.00
Officer Director
$0 $0 $0
KEITH B FARGO SECRETARY/TR 0.50
Officer Director
$0 $0 $0
MARYELLEN BALDWIN DIRECTOR 0.50
Director
$0 $0 $0
DAVID BOLCAR DIRECTOR 0.50
Director
$0 $0 $0
BARRY L BRUNER DIRECTOR 0.50
Director
$0 $0 $0
BRUCE E GROOMS DIRECTOR 0.50
Director
$0 $0 $0
ALBERT H KONETZNI JR DIRECTOR 0.50
Director
$0 $0 $0
MICHELE LAMPHEAR DIRECTOR 0.50
Director
$0 $0 $0
CHARLIE YOUNG DIRECTOR 0.50
Director
$0 $0 $0
ANDREW CLARK EXECUTIVE DI 40.00
Officer
$95,088 $0 $95,088
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 No data No data No data No data
2024 $709,954 $723,748 $8,387,937 $-13,794
2023 $855,430 $635,644 $7,643,427 $219,786
2022 $1,068,147 $579,990 $6,734,999 $488,157
2021 $713,105 $516,772 $6,998,541 $196,333
2020 $510,067 $589,511 $5,911,071 $-79,444
2019 $776,076 $581,096 $5,871,676 $194,980
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