ARCE SCHOLARSHIP FUND INC: Form 990PF, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
ARCE SCHOLARSHIP FUND INC (EIN 84-2552277)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-08-06
IRS object ID
202132189349100203
Schema version
2020v4.0
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)
Return2021-08-06T07:18:38-07:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

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 Begin2020-01-01TaxPeriodBeginDt

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
Signature2021-08-06SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstGABRIELPersonFirstNm
Person LastHAMMONDPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSTUART D GREENBERGPreparerPersonNm
PTINP00029366PTIN
Phone9734673838PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$845,892FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$410,140ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$1,325InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,325InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$1,325InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$7,804DividendsRevAndExpnssAmt
Dividends Net Invst Incm$7,804DividendsNetInvstIncmAmt
Dividends Adj Net Incm$7,804DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$3,037NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$115,892GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$3,037CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$422,306TotalRevAndExpnssAmt
Total Net Invst Incm$12,166TotalNetInvstIncmAmt
Total Adj Net Incm$9,129TotalAdjNetIncmAmt
Taxes Rev And Expnss$52TaxesRevAndExpnssAmt
Trav Conf Meeting Rev And Expnss$1,405TravConfMeetingRevAndExpnssAmt
Trav Conf Meeting Dsbrs Chrtbl$1,405TravConfMeetingDsbrsChrtblAmt
Other Expenses Rev And Expnss$4,335OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$4,335OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$5,792TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,740TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$48,069ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$48,069ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$53,861TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$53,809TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$368,445ExcessRevenueOverExpensesAmt
Net Investment Income$12,166NetInvestmentIncomeAmt
Adjusted Net Income$9,129AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$477,447SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$546,003SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$546,003SavAndTempCashInvstEOYFMVAmt
Other Investments EOY$299,889OtherInvestmentsEOYAmt
Other Investments EOYFMV$299,889OtherInvestmentsEOYFMVAmt
Total Assets BOY$477,447TotalAssetsBOYAmt
Total Assets EOY$845,892TotalAssetsEOYAmt
Total Assets EOYFMV$845,892TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$477,447NoDonorRstrNetAssestsBOYAmt
Tot Net Ast Or Fund Balances BOY$477,447TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$845,892TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$477,447TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$845,892TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$477,447TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$368,445ExcessRevenueOverExpensesAmt
Subtotal$845,892SubtotalAmt
Tot Net Ast Or Fund Balances EOY$845,892TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$3,037CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss-$1,868NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$169InvestmentIncomeExciseTaxAmt
Subtotal$169SubtotalAmt
Tax Based On Investment Income$169TaxBasedOnInvestmentIncomeAmt
Tax Due$169TaxDueAmt

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 Emory UniversityDescription1Txt
Expenses1$8,531Expenses1Amt
Description2tuition assistance paid to Drexel UniversityDescription2Txt
Expenses2$6,991Expenses2Amt
Description3tuition assistance paid to Temple UniversityDescription3Txt
Expenses3$11,106Expenses3Amt
Description4tuition assistance paid to columbia universityDescription4Txt
Expenses4$16,182Expenses4Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$321,995AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$154,698AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$476,693TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$476,693AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$7,150CashDeemedCharitableAmt
Net Vl Noncharitable Assets$469,543NetVlNoncharitableAssetsAmt
Minimum Investment Return$23,477MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

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

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$53,809ExpensesAndContributionsAmt
Qualifying Distributions$53,809QualifyingDistributionsAmt
Adjusted Qualifying Distri$53,809AdjustedQualifyingDistriAmt

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$9,129CurrentYearAmt
Total$9,129TotalAmt

Pct85 Lessor Adj Incm Or Min Ret Pct85LessorAdjIncmOrMinRetGrp

FieldValueIRS element (for citing)
Current Year$7,760CurrentYearAmt
Total$7,760TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$53,809CurrentYearAmt
Year1$25,139Year1Amt
Total$78,948TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$53,809CurrentYearAmt
Year1$25,139Year1Amt
Total$78,948TotalAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
Year1$477,447Year1Amt
Total$477,447TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$15,651CurrentYearAmt
Year1$5,318Year1Amt
Total$20,969TotalAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
DREXEL UNIVERSITY
3141 chestnut streetphiladelphiaPA19104PCeducation$6,991
Emory University
201 dowman dratlantaGA30322PCeducation$8,531
temple university
1801 N Broad StPhiladelphiaPA19122PCeducation$11,106
columbia university
515 w 116th streetnew yorkNY10027PCeducation$16,182
rice university
6100 main sthoustonTX77005PCeducation$5,259
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$48,069TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$1,325ExclusionAmt

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$7,804ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$3,037ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$12,166ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$12,166TotalIncomeProducingActyAmt

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$410,140TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescOFFICE SUPPLIESDesc
Revenue And Expenses Per Books$4,335RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$4,335DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryIncome taxCategoryTxt
Amt$52Amt

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