ARCE SCHOLARSHIP FUND INC: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
ARCE SCHOLARSHIP FUND INC (EIN 84-2552277)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-10-29
IRS object ID
202443039349100524
Schema version
2023v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-10-29T07:55:56-07:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN222888062PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Greenberg & Company LLC CPAsBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1500 Morris AvenueAddressLine1Txt
CitySpringfieldCityNm
State AbbreviationNJStateAbbreviationCd
ZIP07081ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN842552277EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ARCE SCHOLARSHIP FUND INCBusinessNameLine1Txt
Business Name Line2CO GABRIEL HAMMONDBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlARCEBusinessNameControlTxt
Phone9734673838PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line15323 ANITA STREETAddressLine1Txt
CityDALLASCityNm
State AbbreviationTXStateAbbreviationCd
ZIP75206ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonGABRIEL HAMMONDPersonNm
Person TitlePresidentPersonTitleTxt
Signature2024-10-29SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSTUART D GREENBERGPreparerPersonNm
PTINP00029366PTIN
Phone9734673838PhoneNum
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,548,602FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$350,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$79,385InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$79,385InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$79,385InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$18,206DividendsRevAndExpnssAmt
Dividends Net Invst Incm$18,206DividendsNetInvstIncmAmt
Dividends Adj Net Incm$18,206DividendsAdjNetIncmAmt
Gross Sales Price$30,189GrossSalesPriceAmt
Total Rev And Expnss$447,591TotalRevAndExpnssAmt
Total Net Invst Incm$97,591TotalNetInvstIncmAmt
Total Adj Net Incm$97,591TotalAdjNetIncmAmt
Other Prof Fees Rev And Expnss$150OtherProfFeesRevAndExpnssAmt
Taxes Rev And Expnss$382TaxesRevAndExpnssAmt
Taxes Net Invst Incm$382TaxesNetInvstIncmAmt
Trav Conf Meeting Rev And Expnss$24,227TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Dsbrs Chrtbl$24,227TravConfMeetingDsbrsChrtblAmt
Other Expenses Rev And Expnss$73,184OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$1,769OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$65,677OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$97,943TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$2,151TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$89,904TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$84,312ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$84,312ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$182,255TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$2,151TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$174,216TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$265,336ExcessRevenueOverExpensesAmt
Net Investment Income$95,440NetInvestmentIncomeAmt
Adjusted Net Income$97,591AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$2,055,245SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,794,389SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,794,389SavAndTempCashInvstEOYFMVAmt
US Government Obligations EOY$503,384USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV$503,384USGovtObligationsEOYFMVAmt
Other Investments BOY$221,403OtherInvestmentsBOYAmt
Other Investments EOY$244,211OtherInvestmentsEOYAmt
Other Investments EOYFMV$250,829OtherInvestmentsEOYFMVAmt
Total Assets BOY$2,276,648TotalAssetsBOYAmt
Total Assets EOY$2,541,984TotalAssetsEOYAmt
Total Assets EOYFMV$2,548,602TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$2,276,648NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$2,541,984NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$2,276,648TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,541,984TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$2,276,648TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,541,984TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$2,276,648TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$265,336ExcessRevenueOverExpensesAmt
Subtotal$2,541,984SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,541,984TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
Property25000 usii infl ix notePropertyDesc
How AcquiredPHowAcquiredCd
Acquired2023-02-23AcquiredDt
Sold2023-04-15SoldDt
Gross Sales Price$30,189GrossSalesPriceAmt
Cost Or Other Basis$30,189CostOrOtherBasisAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,327InvestmentIncomeExciseTaxAmt
Subtotal$1,327SubtotalAmt
Tax Based On Investment Income$1,327TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$4,000ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$4,000TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$22EsPenaltyAmt
Overpayment$2,651OverpaymentAmt
Applied To ES Tax$2,651AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateTXOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1gabriel a hammondBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9734673838PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line15323 anita streetAddressLine1Txt
CitydallasCityNm
State AbbreviationTXStateAbbreviationCd
ZIP752065333ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonGABRIEL HAMMONDPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line15323 ANITA STREETAddressLine1Txt
CityDALLASCityNm
State AbbreviationTXStateAbbreviationCd
ZIP75206ZIPCd
FieldValueIRS element (for citing)
TitlePresidentTitleTxt
Average Hrs Per Wk Devoted To Pos0.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1tuition assistance paid to daphne floresDescription1Txt
Expenses1$36,244Expenses1Amt
Description2tuition assistance paid to cornell universityDescription2Txt
Expenses2$27,501Expenses2Amt
Description3tuition assistance paid to marco antonio malo jrDescription3Txt
Expenses3$6,658Expenses3Amt
Description4tuition assistance paid to Emory UniversityDescription4Txt
Expenses4$6,336Expenses4Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$667,140AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,563,366AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$2,230,506TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$2,230,506AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$33,458CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,197,048NetVlNoncharitableAssetsAmt
Minimum Investment Return$109,852MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$174,216ExpensesAndContributionsAmt
Qualifying Distributions$174,216QualifyingDistributionsAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$97,591CurrentYearAmt
Year1$29,703Year1Amt
Year2$25,138Year2Amt
Year3$9,129Year3Amt
Total$161,561TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

FieldValueIRS element (for citing)
Current Year$82,952CurrentYearAmt
Year1$25,248Year1Amt
Year2$21,367Year2Amt
Year3$7,760Year3Amt
Total$137,327TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$174,216CurrentYearAmt
Year1$238,527Year1Amt
Year2$118,516Year2Amt
Year3$53,809Year3Amt
Total$585,068TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$174,216CurrentYearAmt
Year1$238,527Year1Amt
Year2$118,516Year2Amt
Year3$53,809Year3Amt
Total$585,068TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$73,235CurrentYearAmt
Year1$48,605Year1Amt
Year2$28,343Year2Amt
Year3$15,651Year3Amt
Total$165,834TotalAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerGABRIEL HAMMONDContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtRecipient RelationshipRecipientRelationshipTxt
Emory University
201 dowman dratlantaGA30322PCeducation$6,336
cornell university
616 thurston aveithacaNY14853PCeducation$27,501
daphne flores
103 65th street apt 2west new yorkNJ07093Ieducation$36,244NONE
lamont lucas
6637 Ogontz AvePhiladelphiaPA19126Ieducation$4,874NONE
marco antonio malo jr
8405 1st AveNorth BergenNJ07047Ieducation$6,658NONE
melody gomez
1823 Spruce Street apt 2FPhiladelphiaPA19103Ieducation$1,172NONE
manuel ponce
139 36th Street apt 22WUnion CityNJ07087Ieducation$1,527NONE
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$84,312TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$79,385ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$18,206ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$97,591ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$97,591TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonYLEANA ARCE FOUNDATION INCContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line15323 ANITA STREETAddressLine1Txt
CityDALLASCityNm
State AbbreviationTXStateAbbreviationCd
ZIP75206ZIPCd
FieldValueIRS element (for citing)
Total Contributions$350,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (8 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmtNet Investment IncomeNetInvestmentIncomeAmt
Educational supplies$1,133$1,133
insurance$2,403$2,403
Investment advisory fees$1,769$1,769
medical expenses for beneficiaries$7,933$7,933
miscellaneous$239
moving expenses for beneficiaries$2,234$2,234
OFFICE SUPPLIES$5,499
rent for beneficiaries$51,974$51,974

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategorycounselingCategoryTxt
Amt$150Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryIncome taxCategoryTxt
Amt$382Amt
Net Investment Income$382NetInvestmentIncomeAmt

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