American State Bank Endowed Scholarship Funds for Nursing

Analysis

American State Bank Endowed Scholarship Funds for Nursing is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in April 2003, 23 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, American State Bank Endowed Scholarship Funds for Nursing reported income of $125k and spending of $93k, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $807k to $125k (-85%), an average of -37% a year. The sharpest change came in the year to December 2022, when income dropped by 66%. Over the whole period it spent 26% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, American State Bank Endowed Scholarship Funds for Nursing sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 46th percentile within TX. Charities of a similar size with the same main cause include Kewanee Area United Way ($125k), Renaissance Newark Foundation Inc ($125k) and Virgin Islands Centre for Architecture Crafts and Build ($125k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% of the total. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m.