Opportunity Scholarship Fund
- Assets
- $5.2m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-4511347
Organization Overview
Opportunity Scholarship Fund is located in Tulsa, OK. The organization was established in 2014. 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. Opportunity Scholarship Fund 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 12/2021, Opportunity Scholarship Fund generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. 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
THE OPPORTUNITY SCHOLARSHIP FUND IS A SCHOLARSHIP GRANTING ORGANIZATION THAT PROVIDES SCHOLARSHIPS TO OKLAHOMA K-12 STUDENTS TO ATTEND ACCREDITED PRIVATE SCHOOLS IN OUR STATE. ONCE A STUDENT HAS RECEIVED A SCHOLARSHIP, THAT STUDENT AND HIS OR HER SIBLINGS REMAIN ELIGIBLE UNTIL HIGH SCHOOL GRADUATION OR AGE 21, WHICHEVER IS FIRST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES BENEFITS FOR OKLAHOMA K-12 STUDENTS, FAMILIES, SCHOOLS AND DONORS. THE FUND EMPHASIZES FINANCIAL ASSISTANCE FOR LOWER-INCOME OKLAHOMA STUDENTS IN THE FORM OF SCHOLARSHIPS. THE FUND ASSISTS ACCREDITED PRIVATE K-12 SCHOOLS TO BUILD TUITION SCHOLARSHIPS WITH THE BENEFIT OF STATE INCOME TAX CREDITS. IN 2020, APPROXIMATELY 1,060 SCHOLARSHIPS WERE AWARDED TO OKLAHOMA K-12 STUDENTS THROUGH PARTICIPATING SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon Dutcher President | OfficerTrustee | 1 | $0 |
James Reed Treasurer | OfficerTrustee | 1 | $0 |
Brittoni Lantz Secretary | OfficerTrustee | 1 | $0 |
Charles Daniels Vice President | OfficerTrustee | 2 | $0 |
Dan Newberry Director | Trustee | 1 | $0 |
Hopper Smith Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Candor Public Relations Llc Marketing/pr | 12/30/20 | $149,290 |
Robert Sellers Consulting | 12/30/20 | $119,700 |
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 | $3,547,167 |
| Noncash contributions included in lines 1a–1f | $106,738 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,547,167 |
| Total Program Service Revenue | $283,888 |
| Investment income | -$849 |
| 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 | $3,830,206 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,956,080 |
| 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 | $14,000 |
| Fees for services: Lobbying | $34,860 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,741 |
| Advertising and promotion | $72,553 |
| Office expenses | $7,595 |
| Information technology | $1,703 |
| Royalties | $0 |
| Occupancy | $8,335 |
| Travel | $2,364 |
| 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 | $4,099 |
| All other expenses | $5,000 |
| Total functional expenses | $3,243,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,172,445 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $2,305 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,174,750 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $401,455 |
| Net assets with donor restrictions | $4,773,295 |
| 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 | $5,174,750 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Opportunity Scholarship Fund has recieved totaling $7,579.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,579 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 01/12/21 | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |