2024-11-28T11:55:12-07:00 2024-08-31 990 2023-09-01 920326163 ACORN SCHOLARSHIP FUND INC ACOR 9193499951 9650 Strickland Rd Ste 103 313 Raleigh NC 27615 William Shaffer Treasurer 9193499951 2024-11-30 1 2023 2024-10-15 13:58:12Z Larry Potter 8821 Cypress Lakes Drive Unit 405 Raleigh NC 27615 202697 0 X https://acorn-scholarship.org X 2022 NC The Acorn Scholarship Fund provides scholarships to employees of the Cypress of Raleigh Club. 6 6 0 33 0 0 135217 194708 0 0 2136 7989 0 0 137353 202697 25203 77476 0 0 0 1739 3823 6363 29026 83839 108327 118858 120670 244511 0 0 120670 244511 The Acorn Scholarship Fund provides scholarships to employees of the Cypress of Raleigh Club Inc. 0 0 77476 77476 0 Scholarships to community colleges, universities, and vocational schools for 34 employees of the Cypress of Raleigh Club. 0 0 0 77476 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X X William Shaffer 9193499951 9650 Strickland Rd Ste 103 313 Raleigh NC 27615 Larry Potter President 15 X X 0 0 0 Dana Robinson Vice President 8 X X 0 0 0 Elizabeth Martinelli Secretary 7 X X 0 0 0 William Shaffer Treasurer 10 X X 0 0 0 Victoria Frierson Board Member 8 X 0 0 0 Phyllis Rideout Board Member 8 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 194708 2164 194708 0 7989 0 0 7989 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 202697 0 0 7989 0 77476 77476 3456 1855 1601 711 573 138 1890 1890 306 306 83839 77476 4624 1739 3412 12617 117258 41777 0 190117 120670 244511 0 0 X 120670 244511 0 0 120670 244511 120670 244511 X 118858 4982 0 0 0 1 X X 0 0 0 X 12902 135217 194708 342827 0 0 12902 135217 194708 342827 342827 2136 7989 10125 0 0 0 2136 7989 10125 0 0 12902 137353 202697 352952 X Schedule A, Part III, Line 1 The Acorn Scholarship Fund had a short fiscal year in its second year of existence. The short fiscal year is from 1/1/2023 through 8/31/2023 (second fiscal year). The next fiscal year (third fiscal year) is from 9/1/2023 to 8/31/2024. Due to these dates, the amounts for FY2022 starting on 1/1/2022 (first fiscal year) and FY2023 (second fiscal year) are placed in the column for 2021 and 2022 respectively. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 Scholarships to community colleges, universities, and vocational training. 34 77476 0 Schedule I, Part I, Line 2 The Acorn Scholarship Fund requests applications from potential recipients, indicating the school they plan to attend. Applicants are assigned mentors who review the applications and discuss the proposed programs with the applicants. For first-time applicants, the Scholarship Committee interviews the applicants. Repeat applicants submit applications where thy list their progress on their studies. The Scholarship Committee reviews all applications to insure the applicants and their program qualify. In almost all cases, scholarship payments are made directly to the educational institution with a statement that the payment is for tuition and other required expenses for the particular individual. For the scholarship to be paid, the recipient must submit a payment form indicating the educational institution and the amount of tuitions and expenses to be covered by the scholarship. The Treasurer stores these completed payment forms. Form 990, Part VI, Section B, Line 11b The Treasurer completes either a spreadsheet with the data for the Form 990 or the PDF of the Form 990 and relevant schedules. These documents are sent to each Board member at least 2 days before a Board meeting. The Board reviews, discusses, and, if satisfactory, approves the Form 990 and schedules. The Treasurer then keys the data into the online service for electronic submission to the IRS. The PDF produced is then posted on the Fund's website. Form 990, Part VI, Section B, Line 12c The Board meets monthly. In these meetings, the Board reviews expenditures and grants. The Board verifies that no Board member or volunteers receive a monetary or other inappropriate benefit from the Fund. Form 990, Part VI, Section C, Line 19 The Fund makes our Form 990-EZ for FY2023 available on the Fund's website. Other corporate documents are retained in the Fund's repository and are available by request to anyone interested in them. Form 990, Part XI, Line 9 Correction of error rounding from cents to dollars in other amounts. Form 990, Part XII, Line 1 In the prior year, the Fund held no publicly traded securities. The accounting basis was strictly cash. In the FY2023, the Fund held treasury bonds, which it marked to market. It also tracked accrued interest. All other accounting was on a cash basis.