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← FEDERAL STUDENT SCHOLARSHIP ORGANIZATION

Form 990 for tax year 2022

Filed by FEDERAL STUDENT SCHOLARSHIP ORGANIZATION.

Totals

Total revenue
$9,242,773
Total expenses
$9,597,922
Contributions and grants received
$9,242,773
Grants paid
$8,985,579
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,773,971
Total liabilities, end of year
$13,366
Net assets or fund balances, end of year
$3,760,605
Program services expenses (Part IX)
$9,284,755
Management and general expenses
$263,517
Fundraising expenses
$49,650
Program service expenses (Part III)
$9,284,755

Program services were 96.7% 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.

  • 1f · All other contributions, gifts and grants

    $9,242,773

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,773 · program services $16,773

  • 2 · Grants to domestic individuals

    total $8,968,806 · program services $8,968,806

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $398,079 · program services $180,510 · management and general $192,569 · fundraising $25,000

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $19,460 · program services $19,460

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $21,121 · program services $13,449 · management and general $5,802 · fundraising $1,870

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $36,000 · program services $12,000 · management and general $18,500 · fundraising $5,500

  • 12 · Advertising and promotion

    total $5,257 · fundraising $5,257

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $13,366 · program services $9,356 · management and general $2,673 · fundraising $1,337

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $968 · management and general $968

  • 23 · Insurance

    total $5,144 · management and general $5,144

  • 24a · Other expenses: Technology services

    total $51,701 · program services $31,021 · management and general $15,510 · fundraising $5,170

  • 24b · Other expenses: Internet & Telephone

    total $30,872 · program services $18,523 · management and general $9,262 · fundraising $3,087

  • 24c · Other expenses: SUPPLIES

    total $19,549 · program services $11,729 · management and general $5,865 · fundraising $1,955

  • 24d · Other expenses: MISCELLANEOUS

    total $5,778 · management and general $5,778

  • 24e · All other expenses

    total $5,048 · program services $3,128 · management and general $1,446 · fundraising $474

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,141,227 · end of year $3,768,455

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,093 · end of year $5,516

  • 10a · Land, buildings and equipment: cost or other basis

    $5,818

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,818

  • 10c · Land, buildings and equipment, net

    beginning of year $968 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,534 · end of year $13,366

  • 27 · Net assets without donor restrictions

    beginning of year $21,177 · end of year $18,126

  • 28 · Net assets with donor restrictions

    beginning of year $4,094,577 · end of year $3,742,479

Mission and programs · 2022

Mission

Georgia Student Scholarship Organization (SSO) Inc., is a nonprofit Georgia Corporation dedicated to offering students from low and middle income family opportunities to attend private K-12 schools of their parents' choice.

  • The organization is dedicated to offering students from low and middle income family opportunities to attend private K-12 schools of their parents' choice. During 2022 the Organization awarded 2,405 scholarhships to eligible students attending 94 nonpublic K-12 schools.

    Expenses $9,284,755 · Grants $8,985,579

As filed on the 2022 return.

Listed in Part VII

  • David B Neyer

    President & CEO

    Total calculated
    $221,846
    From this org
    $208,019
    From related orgs
    $0
    Other
    $13,827
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,000
    Bonus
    $64,019
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $13,827
    Filer's total
    $221,846

  • Cindy Neyer

    Key Employee

    Total calculated
    $97,186
    From this org
    $89,000
    From related orgs
    $0
    Other
    $8,186
    Hours/week
    40

  • Robert J Jasion

    Trustee

    Total calculated
    $54,921
    From this org
    $2,120
    From related orgs
    $0
    Other
    $52,801
    Hours/week
    5

  • Mark C Langston

    former trustee

    Total calculated
    $20,116
    From this org
    $110
    From related orgs
    $0
    Other
    $20,006
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $110
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $20,006
    Filer's total
    $20,116

  • Fulton Lewis

    Trustee

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tracy Baggett

    Trustee

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 · Form 990 of other organizations
  • 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

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343199349319074

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