School Choice Scholarships Inc
- Assets
- $285.3k
- Revenue
- $406.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 08/1998
- Data as of
- 06/2021
- EIN
- 31-1589289
Organization Overview
School Choice Scholarships Inc is located in Louisville, KY. The organization was established in 1998. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. School Choice Scholarships Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, School Choice Scholarships Inc generated $406.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $9.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (52.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES SCHOLARSHIPS FOR CHILDREN FROM LOW-INCOME FAMILIES IN KINDERGARTEN THROUGH 8TH GRADE SO THEY CAN ATTEND THE SCHOOL OF THEIR CHOICE IN JEFFERSON AND OLDHAM COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OFFER PARTIAL SCHOLARSHIPS TO LOW-INCOME FAMILIES, SO THEIR CHILDREN CAN ATTEND THE PRIVATE OR PAROCHIAL SCHOOL OF THEIR CHOICE.
TO PROVIDE FAMILY ASSISTANCE VIA EDUCATIONAL PROGRAMMING, BENEVOLENCE, AND OTHER MEANS, IN ORDER TO AID LOW-INCOME FAMILIES AND ENHANCE THEIR EDUCATIONAL OPPORTUNITIES, ALLOWING THEM TO BREAK OUT OF THE GENERATIONAL CYCLE OF POVERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanna Nugent Board Member | Trustee | 5 | $6,000 |
James A Patterson Founding Member And Presid | OfficerTrustee | 5 | $0 |
Margaret Ann Wells Founding Member And Treasu | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $406,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $406,618 |
| Total Program Service Revenue | $0 |
| Investment income | $180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $406,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,421 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,133 |
| Savings and temporary cash investments | $35,921 |
| Pledges and grants receivable | $133,825 |
| Accounts receivable, net | $82 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $750 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $117 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,434 |
| Total assets | $285,262 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $200,138 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $200,138 |
| Net assets without donor restrictions | $85,124 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $285,262 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that School Choice Scholarships Inc has recieved totaling $331,250.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Louisville Corporate Depository In Louisville, KY PURPOSE: B82 SCHOLARSHIPS STUDENT FINANCIAL AID AWARDS | $300,000 |
The Community Foundation Of Louisville Inc Louisville, KY PURPOSE: B82 SCHOLARSHIPS STUDENT FINANCIAL AID AWARDS | $31,250 |
Endowment Analysis
| Beg. Balance | $44,120 |
| Earnings | $12,314 |
| Ending Balance | $56,434 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
AbbVie Employee Assistance Fund Inc North Chicago, IL | $0 | $8,759,468 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Alfred I Dupont Awards Foundation Chicago, IL | $0 | $4,985,997 |
Accenture Foundation Inc Chicago, IL | $134,926,823 | $15,596,009 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Rooted Alliance Inc Chicago, IL | $2,335,555 | $4,487,602 |
Cleveland Avenue Foundation For Education Group Chicago, IL | $12,236,345 | $15,309,295 |
Western Illinois Regional Council Community Action Agency Macomb, IL | $2,081,443 | $6,378,655 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Guaranteed Rate Foundation Nfp Chicago, IL | $1,798,790 | $5,812,096 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |