Ashley Virden Memorial Scholarship Fund
Nonprofit profile at a glance
- EIN
- 473299198
- IRS 990-EZ coverage
- 2015–2015
- Forms available
- Form 990-EZ 2015
- Location
- Ballinger, TX, USA
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $63,353
- Expenses
- $62,700
- Assets
- $653
Source: IRS Form 990-EZ. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- LYNN VIRDEN (PRESIDENT)
People named in this filing
- LYNN VIRDEN (PRESIDENT)
- SHANE BOMAR (VICE PRESIDE)
- ERICA BOMAR (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the ashley virden memorial scholarship fund is to educate and promote youth involvement in horse barrel racing and to offer financial assistance to eligible applicants qualifying in the world & state barrel racings events.
What it reported doing in 2015
11 youth qualifiers received financial assistance which enabled them to travel and participate at the world and state barrel racing finals held in Georgia and waco, tx respectively. 25 youths received cash awards for participating in the 1st annual ashley virden memorial fund barrel race held in san angelo, tx.
Operating model
- Revenue model
- Donor-supported. 96% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% 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. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 98
- Transparency & Controls: 82
- Sustainability: 30
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 98.2%; rating input score 98
- Program expense ratio: 99.2%; rating input score 99
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 1%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 0.01; rating input score 4; 4th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 98.2% of revenue deployed · 99.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $62K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Total-asset coverage ratio scored 4/100.
- Moderate — Sustainability: Operating margin scored 48/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.