Scholars Of Finance
- Assets
- $1.9m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 12
- Location
- St Louis Park, MN
- Founding
- 09/2017
- Data as of
- 12/2021
- EIN
- 82-2735495
Organization Overview
Scholars Of Finance is located in St Louis Park, MN. The organization was established in 2017. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 12/2021, Scholars Of Finance employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholars Of Finance 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, Scholars Of Finance generated $2.1m in total revenue. All expenses for the organization totaled $586.1k during the year ending 12/2021. While expenses have increased by 87.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
TO INSPIRE CHARACTER AND INTEGRITY OF THE FINANCE LEADERS OF TOMORROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER SERVICES: SCHOLARS OF FINANCE INSPIRED CHARACTER AND INTEGRITY IN OVER 1000 MEMBERS IN 2021, THE HIGHEST NUMBER TO DATE, AS THE ORGANIZATION EXPANDED TO 24 CHAPTERS ACROSS THE US. 271 MEMBERS GRADUATED FROM THE LEADERSHIP DEVELOPMENT PROGRAM, A 7-WEEK COURSE THAT PREPARES STUDENTS TO BE ETHICAL LEADERS IN FINANCE. SCHOLARS OF FINANCE CONNECTED 160 MEMBERS TO FINANCE PROFESSIONALS FOR MENTORSHIP, PROVIDING ONE-ON-ONE COACHING FOR PERSONAL AND PROFESSIONAL GROWTH. 90 FINANCE PROFESSIONALS SPOKE TO OVER 1400 STUDENTS THROUGH SYMPOSIA AND OTHER SPEAKING EVENTS, HELPING MEMBERS DEEPEN THEIR UNDERSTANDING OF FINANCE AND THE WAYS IN WHICH ETHICAL LEADERSHIP IS NEEDED. VALUES FORUMS, A NEW PROGRAM ACTIVITY THAT BRINGS MEMBERS TOGETHER MONTHLY TO DISCUSS SOF'S CORE VALUES, ATTRACTED 357 ATTENDEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ross Overline Chief Executive Officer | OfficerTrustee | 40 | $132,292 |
Stephen Sorenson Chief Operating Officer | Officer | 40 | $113,750 |
Miranda Jenkins Chief Program Officer | Officer | 40 | $49,104 |
Nicolas Suarez Treasurer | OfficerTrustee | 1 | $0 |
Maeve Richard Director | Trustee | 1 | $0 |
Elizabeth Sandler Director | Trustee | 1 | $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 | $2,116,469 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,116,469 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $2,116,469 |
| 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. | $295,156 |
| Compensation of current officers, directors, key employees. | $11,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,393 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,494 |
| Payroll taxes | $30,002 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $658 |
| Fees for services: Accounting | $5,743 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,765 |
| Office expenses | $0 |
| Information technology | $42,305 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,853 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,976 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,608 |
| All other expenses | $9,570 |
| Total functional expenses | $586,058 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,438,831 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $440,568 |
| 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 | $11,630 |
| 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 | $1,891,029 |
| Accounts payable and accrued expenses | $6,864 |
| 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 | $6,864 |
| Net assets without donor restrictions | $1,424,477 |
| Net assets with donor restrictions | $459,688 |
| 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 | $1,891,029 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Scholars Of Finance has recieved totaling $1,308,783.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $1,000,000 |
Piper Jaffray Foundation Minneapolis, MN PURPOSE: HEADQUARTER GIVING | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $65,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $64,278 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $25,000 |
Love Thy Neighbor Too Alpharetta, GA PURPOSE: GROWTH | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bush Foundation St Paul, MN | $1,812,229,088 | $192,250,269 |
University Club Of Milwaukee Milwaukee, WI | $10,081,224 | $7,416,108 |
Public Health Law Center Inc St Paul, MN | $2,005,877 | $4,622,958 |
Chapel Hill Academy Inc Chanhassen, MN | $7,972,164 | $5,146,130 |
International Experience A Non- Profit Corporation Northfield, MN | $3,315,141 | $2,530,227 |
Maggie Applauds Great Goals In Education Inc Wayzata, MN | $26,327,381 | $2,188,614 |
Madison Community Cooperative Madison, WI | $4,314,477 | $1,420,997 |
Minnesota State College Student Association Inc W Saint Paul, MN | $1,729,546 | $828,239 |
Minnesota Intercollegiate Athletic Conference Bloomington, MN | $290,455 | $1,169,400 |
Bolder Options Minneapolis, MN | $1,671,157 | $1,108,504 |
Athletes Committed To Educating Students Minneapolis, MN | $1,071,272 | $1,427,462 |
Einstein Project Inc Green Bay, WI | $2,102,459 | $802,083 |