ASBC Foundation

Legal name: Alfred Street Baptist Church Foundation

Nonprofit profile at a glance

EIN
134245463
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
3016832222
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations
Affiliation
Christianity

Official website

Reported finances

Revenue
$881,431
Expenses
$599,245
Assets
$3,145,097
Liabilities
$2,600

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Patricia Wallace (President)
  • Julia Gibbs (Vice President)

People named in this filing

  • Patricia Wallace (President)
  • Julia Gibbs (Vice President)
  • Terrill Garrison (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Foundation provides academic scholarships to graduating high school seniors who have demonstrated a financial need and have maintained high academic performance; additionally, a limited number of scholarships are awarded to divinity school students. Historic Alfred Street Baptist Church** is located in Old Town, Alexandria. Our church has over 8,000 members and continues to grow “Building Disciples to Win the World for Christ.” ASBC has over 80 ministries to meet member needs. We seek top performers who can advance the work of the Lord. We seek people who have much to offer and are dedicated servants of God. We also seek those individuals who are upbeat, loyal, resourceful and are dedicated to working to fulfill our mission. If you’re interested in providing leadership, managerial, technical, administrative, and/or creative support to our members, families, missionaries, guests...

What it reported doing in 2024

Awarded scholarships to 204 college and college-bound students.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 90% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 93.8%; rating input score 94
  • Fundraising efficiency: $67.6 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 5.25; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 15.7% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 14% per year; rating input score 100; 70th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site
  • Where the money goes: 73.2% of revenue deployed · 93.8% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $562K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.