What the amendment changed
Compared with the return it replaced , filed 4 September 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.
- Program service expenses (Part III)
- $224,807,388 changed to $223,497,427
Totals
- Total revenue
- $240,271,340
- Total expenses
- $234,740,961
- Contributions and grants received
- $220,181,709
- Grants paid
- $215,549,959
- Program service revenue
- $14,952,460
- Investment income
- $5,225,452
- Other revenue
- -$88,281
- Total assets, end of year
- $172,303,174
- Total liabilities, end of year
- $57,025,596
- Net assets or fund balances, end of year
- $115,277,578
- Program services expenses (Part IX)
- $223,497,427
- Management and general expenses
- $9,210,014
- Fundraising expenses
- $2,033,520
- Program service expenses (Part III)
- $223,497,427
Program services were 95.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$625,408
-
1f · All other contributions, gifts and grants
$219,556,301
-
1g · Noncash contributions included above
$763,239
-
2a · Program service revenue: MANAGEMENT FEES
total $14,605,160 · related or exempt $14,605,160
-
2b · Program service revenue: DOLLARS FOR SCHOLARS
total $347,300 · related or exempt $347,300
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $4,862,620 · excluded $4,862,620
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $160,821,324
-
7b · Less cost or other basis and sales expenses
securities $160,458,492
-
7c · Gain or loss
securities $362,832 · other assets $0
-
7d · Net gain or loss
total $362,832 · excluded $362,832
-
8a · Fundraising events: gross income
$17,250
-
8a · Fundraising events: contributions included on line 1c
$625,408
-
8b · Fundraising events: direct expenses
$189,641
-
8c · Net income from fundraising events
total -$172,391 · excluded -$172,391
-
11a · Other revenue: OTHER INCOME
total $84,110 · excluded $84,110
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$84,110
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $207,814,989 · program services $207,814,989
-
3 · Grants to foreign organizations and individuals
total $7,734,970 · program services $7,734,970
-
5 · Compensation of officers, directors and key employees
total $634,326 · management and general $634,326
-
7 · Other salaries and wages
total $10,273,482 · program services $4,960,133 · management and general $3,999,236 · fundraising $1,314,113
-
8 · Pension plan contributions
total $296,112 · program services $142,762 · management and general $115,527 · fundraising $37,823
-
9 · Other employee benefits
total $1,602,829 · program services $760,331 · management and general $641,060 · fundraising $201,438
-
10 · Payroll taxes
total $756,560 · program services $346,371 · management and general $318,423 · fundraising $91,766
-
11b · Fees: legal
total $19,372 · management and general $19,372
-
11c · Fees: accounting
total $81,210 · management and general $81,210
-
11f · Fees: investment management
total $43,538 · management and general $43,538
-
11g · Fees: other
total $2,038,780 · program services $814,879 · management and general $1,094,283 · fundraising $129,618
-
12 · Advertising and promotion
total $220,138 · program services $32,000 · management and general $181,677 · fundraising $6,461
-
13 · Office expenses
total $327,164 · program services $193,955 · management and general $83,531 · fundraising $49,678
-
14 · Information technology
total $508,556 · program services $5,913 · management and general $500,416 · fundraising $2,227
-
16 · Occupancy
total $379,704 · program services $132,378 · management and general $206,213 · fundraising $41,113
-
17 · Travel
total $279,685 · program services $26,576 · management and general $175,048 · fundraising $78,061
-
20 · Interest
total $79,499 · program services $48,430 · management and general $23,759 · fundraising $7,310
-
22 · Depreciation, depletion and amortization
total $1,191,488 · program services $227,632 · management and general $950,280 · fundraising $13,576
-
23 · Insurance
total $267,056 · program services $158,890 · management and general $82,493 · fundraising $25,673
-
24a · Other expenses: MISCELLANEOUS
total $191,503 · program services $97,218 · management and general $59,622 · fundraising $34,663
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $30,664,295 · end of year $25,294,008
-
3 · Pledges and grants receivable
beginning of year $2,578,274 · end of year $2,140,290
-
4 · Accounts receivable
beginning of year $3,232,618 · end of year $2,832,978
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $393,210 · end of year $425,218
-
10a · Land, buildings and equipment: cost or other basis
$11,482,769
-
10b · Land, buildings and equipment: accumulated depreciation
$8,551,313
-
10c · Land, buildings and equipment, net
beginning of year $4,428,150 · end of year $2,931,456
-
11 · Investments: publicly traded securities
beginning of year $121,668,338 · end of year $133,724,527
-
12 · Investments: other securities
beginning of year $4,669,650 · end of year $3,471,080
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $144,307
-
15 · Other assets
beginning of year $656,629 · end of year $1,483,617
-
17 · Accounts payable and accrued expenses
beginning of year $6,100,425 · end of year $6,593,993
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $2,412,642 · end of year $2,249,662
-
25 · Other liabilities
beginning of year $55,255,931 · end of year $48,181,941
-
27 · Net assets without donor restrictions
beginning of year $9,369,819 · end of year $11,469,450
-
28 · Net assets with donor restrictions
beginning of year $95,296,654 · end of year $103,808,128
Mission and programs · 2023
Mission
SCHOLARSHIP AMERICA IS A NATIONAL EDUCATION SERVICE ORGANIZATION. OUR VISION IS TO EMPOWER AN AMERICA WHERE THOSE WITH THE MOST NEED HAVE THE OPPORTUNITY THROUGH EQUITABLE PATHWAYS TO EDUCATION AND TRAINING. In addition, Scholarship America provides resources to students pursuing higher education and their career goals plus partners with and assists communities and organizations to bring resources to students pursuing higher education and their career goals. SCHOLARSHIP AMERICA HAS DISTRIBUTED MORE THAN $5.4 BILLION IN sCHOLARSHIP aSSISTANCE TO MORE THAN 3.1 MILLION STUDENTS SINCE 1958. SCHOLARSHIP AMERICA'S PROGRAMS ADVANCE EQUITY AND PROVIDE STUDENTS WITH FINANCIAL, CULTURAL AND SOCIAL SUPPORTS ALONG tHEIR ACADEMIC JOURNEY TO HELP tHEM PERSIST AND ATTAIN SUCCESS. PROGRAMS INCLUDE DOLLARS FOR SCHOLARS, eMERGENCY AID, THE DREAM AWARD SCHOLARSHIP PROGRAM, AND SCHOLARSHIP MANAGEMENT SERVICES.
Activities or mission (Part I)
ELIMINATE BARRIERS TO EDUCATIONAL SUCCESS SO THAT ANY STUDENT CAN PURSUE THEIR DREAM.
-
EDUCATION ASSISTANCE: Scholarship America (Program Management) is the leading private education assistance service provider in the country, helping corporations, foundations and individuals design and administer scholarship and related educational assistance programs.
Expenses $223,107,560 · Grants $215,549,959 · Revenue $14,605,160
-
DOLLARS FOR SCHOLARS IS A NATIONAL NETWORK OF 438 COMMUNITY-BASED, VOLUNTEER- DRIVEN AFFILIATED ORGANIZATIONS THAT RAISE FUNDS AND PROVIDE SCHOLARSHIPS AND EDUCATIONAL SUPPORT TO LOCAL STUDENTS IN COMMUNITIES ACROSS THE COUNTRY.
Expenses $368,682 · Revenue $347,300
-
OTHER PROGRAM SERVICES INCLUDE THE FAMILIES OF FREEDOM SCHOLARSHIP PROGRAM AND OTHER RELATED EDUCATION PROGRAM RESEARCH, POLICY AND COMMUNITY ENGAGEMENT ACTIVITIES.
Expenses $21,185
As filed on the 2023 return.
Listed in Part VII
-
Hazel M McNeilageHAZEL M MCNEILAGE
Treasurer and Fin. & Inv. Committee Chair
- Total calculated
- $0
- Hours/week
- 5
-
Michael ManeyMICHAEL MANEY
Chair of the Board of Trustees
- Total calculated
- $0
- Hours/week
- 5
-
Tina LeeTINA LEE
immediate Past CHAIR OF THE BOARD
- Total calculated
- $0
- Hours/week
- 3
-
Treasa G BowersTREASA G BOWERS
Secretary of the Board
- Total calculated
- $0
- Hours/week
- 5
-
Alain KaraoglanALAIN KARAOGLAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Angel PerezANGEL PEREZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Autumn ManningAUTUMN MANNING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Barbara McBeeBARBARA MCBEE
HRT CHAIR PRO-TEM
- Total calculated
- $0
- Hours/week
- 3
-
daniel lee
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
James DlugosJAMES DLUGOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Jeffrey M SilvermanJEFFREY M SILVERMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Joseph PalomboJOSEPH PALOMBO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Lucinda D RobbLUCINDA D ROBB
Governance Committee Chair
- Total calculated
- $0
- Hours/week
- 5
-
M Salman RavalaM SALMAN RAVALA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Mark P TurchanMARK P TURCHAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Muneera CarrMUNEERA CARR
Audit Committee Chair
- Total calculated
- $0
- Hours/week
- 5
-
Richard J SchwabRICHARD J SCHWAB
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Samata NarraSAMATA NARRA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Santiago MarquezSANTIAGO MARQUEZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
William C YoungWILLIAM C YOUNG
Development Committee Chair
- Total calculated
- $0
- Hours/week
- 5
-
Michael NylundMICHAEL NYLUND
PRESIDENT AND CEO
- Total calculated
- $346,113
- From this org
- $312,172
- From related orgs
- $0
- Other
- $33,941
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $311,140
- Bonus
- $0
- Other
- $1,032
- Deferred
- $8,334
- Nontaxable benefits
- $25,607
- Filer's total
- $346,113
-
Richard GreeneRICHARD GREENE
CHIEF FINANCIAL OFFICER
- Total calculated
- $281,154
- From this org
- $241,455
- From related orgs
- $0
- Other
- $39,699
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $235,427
- Bonus
- $0
- Other
- $6,028
- Deferred
- $7,382
- Nontaxable benefits
- $32,317
- Filer's total
- $281,154
-
Aaron NottestadAARON NOTTESTAD
Director, Software Engineering
- Total calculated
- $207,557
- From this org
- $188,050
- From related orgs
- $0
- Other
- $19,507
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,890
- Bonus
- $0
- Other
- $160
- Deferred
- $5,495
- Nontaxable benefits
- $14,012
- Filer's total
- $207,557
-
Andrea SmithANDREA SMITH
VICE PRESIDENT, DEVELOPMENT & MARKET
- Total calculated
- $222,545
- From this org
- $204,478
- From related orgs
- $0
- Other
- $18,067
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $204,212
- Bonus
- $0
- Other
- $266
- Deferred
- $6,178
- Nontaxable benefits
- $11,889
- Filer's total
- $222,545
-
Donald YuDONALD YU
Chief Strategy Product Officer
- Total calculated
- $256,305
- From this org
- $223,346
- From related orgs
- $0
- Other
- $32,959
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $223,030
- Bonus
- $0
- Other
- $316
- Deferred
- $6,941
- Nontaxable benefits
- $26,018
- Filer's total
- $256,305
-
Jennifer MenkeJENNIFER MENKE
VICE PRESIDENT, HUMAN RESOURCES
- Total calculated
- $223,704
- From this org
- $191,396
- From related orgs
- $0
- Other
- $32,308
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $185,988
- Bonus
- $0
- Other
- $5,408
- Deferred
- $5,911
- Nontaxable benefits
- $26,397
- Filer's total
- $223,704
-
Michael PeckenschneiderMICHAEL PECKENSCHNEIDER
VICE PRESIDENT, INFORMATION TECH.
- Total calculated
- $237,857
- From this org
- $228,518
- From related orgs
- $0
- Other
- $9,339
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $227,661
- Bonus
- $0
- Other
- $857
- Deferred
- $6,830
- Nontaxable benefits
- $2,509
- Filer's total
- $237,857
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 19 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202510789349300241
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