Scholarship America Inc
- Assets
- $4.6m
- Revenue
- $45.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Pipestone, MN
- Founding
- 02/1967
- Data as of
- 12/2016
- EIN
- 41-6056345
Organization Overview
Scholarship America Inc is located in Pipestone, MN. The organization was established in 1967. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Scholarship America 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 12/2016, Scholarship America Inc generated $45.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (37.6%) each year. All expenses for the organization totaled $145.6k during the year ending 12/2016. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE GENERAL PURPOSE AND PLAN OF THIS CORPORATION SHALL BE TO OBTAIN FUNDS AND DISBURSE SUCH FUNDS IN THE FORM OF LOANS OR SCHOLARSHIPS, FOR THE FURTHERANCE OF THE EDUCATION OF STUDENTS FROM WITHIN THE SCHOOL DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OBTAIN AND DISBURSE FUNDS AS LOANS OR SCHOLARSHIPS FOR THE FURTHERANCE OF EDUCATION OF THE STUDENTS WITHIN THE SCHOOL DISTRICT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorraine Draper Secretary | OfficerTrustee | $0 | |
Damain Sandy President | OfficerTrustee | $0 | |
Chuck Ness V President | OfficerTrustee | $0 | |
David Meulebroeck Treasurer | OfficerTrustee | $0 | |
Melissa Mccorquodale Director | Trustee | $0 | |
Steve Weets Director | Trustee | $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 | $6,185 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,185 |
| Total Program Service Revenue | $0 |
| Investment income | $130,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$93,747 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,294 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $6,207 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,583 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $141 |
| 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 | $145,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,466,866 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,110 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,179,412 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,649,388 |
| Accounts payable and accrued expenses | $1,232 |
| Grants payable | $0 |
| 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 | $1,232 |
| Unrestricted restricted net Assets | $56,193 |
| Temporarily restricted net Assets | $326,483 |
| Permanently restricted net Assets or current funds | $4,265,480 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $4,648,156 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Scholarship America Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Team Makers Club Inc Fargo, ND | $24,927,572 | $16,460,437 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |