Public, Society Benefit

DOLPHIN SCHOLARSHIP FOUNDATION

  • Virginia Beach, VA
  • www.dolphinscholarship.org

Mission Statement

To provide scholarship assistance for undergraduate college study for children/stepchildren of eligible active, retired, or former members of the United States Navy who have served in, or in direct support of, the Submarine Force.

Main Programs

  1. SubForce Scholarship Program
Service Areas

Self-reported

International

The SubForce Scholarship program provides scholarships to recipients located in the continental United States and overseas.

ruling year

1992

Principal Officer since 2013

Self-reported

Mr. Andrew Clark

Keywords

Self-reported

submarine force, U.S. Navy, financial assistance, scholarships, submarine community, high school, college, dependents, veterans, active duty, submarine force, apply, undergraduate education,

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EIN

54-6038828

 Number

2277997014

Contact

Cause Area (NTEE Code)

Military/Veterans' Organizations (W30)

Fund Raising and/or Fund Distribution (O12)

Nonprofit Management (S50)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

Since 1960 the Dolphin Scholarship Foundation has been providing financial assistance for undergraduate education to the children of members of the U.S. Navy submarine community. Our scholarship recipients have gone on to become profound thinkers and doers in our society.

Our scholarship fundraising program has been very successful throughout the years and we are now able to fund 112 four year scholarships in the amount of $3,400 and 5 two year scholarships in the amount of $2,000 on an annual basis and all of our scholarships are renewable for up to four years.

The Dolphin Scholarship Foundation continues to meet the challenges of the changing needs and educational goals of our submarine community by adding two year scholarships for students attending community colleges and beginning in 2017 we will also include scholarships for students seeking vocational training and certification.

Over the past 56 years the Dolphin Scholarship Foundation has awarded over $11,000,000 in scholarship aid to over 1200 scholars allowing them to achieve their educational goals and improve their quality of life.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

SubForce Scholarship Program

The SubForce Scholarship Program provides financial assistance for undergraduate study to the children of current and former members of the U.S. Navy Submarine Force and to the children of those who have served in direct support of the U.S. Navy Submarine Force. The SubForce Scholarship Program currently awards 117 Dolphin Scholarships and 2 Laura W. Bush Scholarships. Each scholarship is in the annual amount of $3,400 and is renewable for up to 4 years of undergraduate education. The Dolphin Scholarship Foundation also awards 2 renewable scholarships in the amount of $2,000 to students attending 2 year community colleges. In addition to the aforementioned scholarships, the Dolphin Scholarship Foundation also administers the USS NAUTILUS Scholarship which is available to the spouses, children, grandchildren and great grandchildren of those who served on board USS NAUTILUS (SSN 571) & (SS 168). This scholarship is awarded in the amount of $1,000 and is non-renewable. The Dolphin Scholarship Foundation acts as a hub for all U.S. Navy Submarine Force scholarships and also verifies eligibility for the USS BOWFIN and USSVI scholarships. The SubForce Scholarship program selects between 25 to 30 new scholars per year based on annual scholar graduation rates.

Category

Education

Population(s) Served

Military/Veterans

Other Named Groups

Budget

$409,600

Charting Impact

Self-reported by organization

Five powerful questions that require reflection about what really matters - results.

  1. What is the organization aiming to accomplish?
    The top priority goals of the Dolphin Scholarship Foundation are:

    1. Increase fundraising revenue by 20% by 2020.

    2. Increase DSF awareness and donor outreach.

    3. Increase the number of renewable scholarships awarded from 117 to 140 by the year 2020.

    4. Increase the maximum scholarship award amount from $3,400 to $5,000 by the year 2020.

    5. Provide scholarships to the spouses of current and former members of the U.S. Submarine Force.

    6. Increase corporate sponsorship by adding three new sponsors by 2020.

    7. Increase participation in the DSF Planned Giving Program by 20%.

    8. Fully endow 5 additional scholarships at $85K each by the year 2020.

  2. What are the organization's key strategies for making this happen?
    The Dolphin Scholarship Foundation employs numerous fundraising strategies to sustain our scholarship program. Our primary strategies include:

    Major Donor Fundraising - In the fall of 2016 the foundation transitioned to "Bloomerang", a state of the art donor management software program. This new program greatly enhances our ability to analyze detailed information for each individual donor allowing us to segment our donor base and focus on the interests of each group. This software will also allow us to greatly enhance donor relationships with the foundation. In addition we will also plan a campaign to recruit new donors.

    Corporate Fundraising - We continually search for additional corporations that are aligned with our mission to engage them in hopes of increasing our corporate funding.

    Direct Mail Campaigns - We currently launch two direct mail campaigns per fiscal year. For example, our "Drive for 55" direct mail campaign was very successful with a 15% ROI.

    Planned Giving - We are in the process of intensifying our focus on our current planned giving program. Our new donor management program will provide us with the demographical information needed to pinpoint those individuals in our donor base who would be likely candidates for the program.

    Special Events - Dolphin Scholarship Foundation currently hosts two golf tournament fundraisers per year in Stonington, CT and Virginia Beach, VA. The tournaments have been very successful and we are currently exploring the possibility hosting tournaments in other locations in the United States.

    Product Sales - Dolphin Scholarship Foundation markets and sells the ladies Pride Runs Deep submarine community pin and the men's lapel pin designed by Ann Hand, LLC. The foundation has also produced and sold he annual cartoon calendar for the last 54 years. In addition note cards, car magnets and cartoon books are also sold for fundraising purposes and all proceeds are used to support our scholarship program.

    E-Fundraising - The Dolphin Scholarship Foundation was completely overhauled in 2015 to optimize our online fundraising capabilities. We have also increased our social media presence on Facebook and Twitter.





  3. What are the organization's capabilities for doing this?
    The Dolphin Scholarship Foundation possesses the following capabilities that will allow the organization to reach its targeted goals:

    Engaged Board of Directors - The Dolphin Scholarship Foundation Board of Directors are fully engaged with the foundations fundraising operations. They are very receptive to new ideas and always willing to assist with the fundraising effort.

    Broad Donor Support Base - The Dolphin Scholarship Foundation receives support from many outside sources such as Submarine Officer and Chief Petty Officer spouse support groups, Combined Federal Campaign (CFC), corporate and individual donors including former scholars and scholar parents.

    Endowed Scholarships - Approximately thirty seven percent of the scholarships that DSF funds are fully endowed as perpetuities which allows the foundation to fund these scholarships by interest earned on the principal endowment. The foundation actively pursues individual and corporate donors who may be interested partnering with the foundation to create an endowed scholarship.

  4. How will they know if they are making progress?
    Progress will be monitored in the following manner:

    Progress towards meeting program goals will be measured against an established baseline. Also, Budget vs. Actual reports will be compared and charted to provide a picture of actual progress over a period of time. The data obtained from this analysis will be used to identify positive or negative trends and make improvements and/or changes if deemed necessary.
  5. What have and haven't they accomplished so far?
    The progress made on the established goals has been continuous and has shown a positive trend. The management at the foundation is focused on adhering to the plan of action in order to meet our established goals by the timeframe specified in the goals section.
Service Areas

Self-reported

International

The SubForce Scholarship program provides scholarships to recipients located in the continental United States and overseas.

Funding Needs

The Dolphin Scholarship Foundation currently funds 112 four year scholarships in the amount of $3,400 each and 5 two year scholarships in the amount of $2,000 each for a total of 117 renewable scholarships. Of the 117 scholarships funded by our foundation only 37 percent of them are fully endowed leaving a unfunded need of 63 percent required to maintain our scholarship program at its current level. In addition to our scholarship program funding needs there are additional funds needed to cover our current operational and management costs associated with administering the Dolphin Scholarship Program.

External Reviews

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

DOLPHIN SCHOLARSHIP FOUNDATION
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

DOLPHIN SCHOLARSHIP FOUNDATION

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair
  • Access to the GuideStar Community
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Principal Officer

Mr. Andrew Clark

Governance

BOARD CHAIR

Mrs. Suzanne Tofalo

Dolphin Scholarship Foundation

Term: Oct 2015 -

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?