Cause IQ organization profile

Scholarship America

Scholarship America is a scholarship organization based in Minneapolis, MN that was founded in 1961. As of 2018 they had $189 million in revenue and $147 million in assets.

To mobilize America, through scholarships and educational support, to make postsecondary education possible for all students.

Previous legal names or variations of their name include: Dollars For Scholars Of New Mexico Haven Palermo.

EIN:

04-2296967

City:

Minneapolis

State:

Minnesota

NTEE:

B82: Scholarship and financial aid organizations

Website:

scholarshipamerica.org

Phone:

(800) 537-4180

Type:

501(c)(3)

Revenue:

$189,290,399

Assets:

$147,897,755

Employees:

202

Fiscal year end:

December

Founded:

1961

Revenue trends:

Asset trends:

Form 990s for Scholarship America

Fiscal year ending	Date received by IRS	Form	PDF link
2017-12	Oct 16, 2018	990	View PDF
2016-12	Oct 27, 2017	990	View PDF
2015-12	Nov 7, 2017	990	View PDF
2015-12	Dec 6, 2016	990	View PDF
2014-12	Sep 14, 2015	990	View PDF
...and five more Form 990 PDFs

Financials for Scholarship America

Field	2017	2016	% Change
Federated campaigns	$0	$0
Membership dues	$0	$0
Fundraising event contributions	$438,368	$331,706	32.2%
Related organizations	$0	$0
Government grants (contributions)	$0	$0
Normal grants, contributions, etc.	$171,506,509	$160,893,217	6.6%
Non-cash contributions	$2,795,265	$159,246	1655.3%
Program services	$13,257,849	$13,172,333	0.6%
Investment income and dividends	$2,150,558	$2,439,905	-11.9%
Tax-exempt bond proceeds	$0	$0
Royalty revenue	$0	$0
Net rental income	$0	$0
Net gain from sale of non-inventory assets	$1,982,262	$-1,107,068	279.1%
Net income from fundraising events	$-161,228	$-204,643	21.2%
Net income from gaming activities	$0	$0
Net income from sales of inventory	$0	$0
Miscellaneous revenues	$116,081	$82,625	40.5%
Total revenues	$189,290,399	$175,608,075	7.8%

Field	2017	2016	% Change
Grants to govts. and orgs. in USA	$0	$0
Grants to individuals in USA	$167,205,768	$165,931,721	0.8%
Grants to govts., orgs., and individuals outside USA	$6,194,258	$5,793,468	6.9%
Benefits paid to or for members	$0	$0
Compensation of current officers, etc.	$555,030	$517,887	7.2%
Compensation not included above, to disqualified persons	$0	$0
Non-officer salaries and wages	$7,803,335	$7,225,091	8.0%
Pension/retirement accruals and contributions	$94,325	$0	999%
Other employee benefits	$876,303	$895,295	-2.1%
Payroll taxes	$570,506	$545,898	4.5%
Management fees	$0	$1,022,391	-100%
Legal fees	$119,207	$133,444	-10.7%
Accounting fees	$65,679	$73,303	-10.4%
Lobbying fees	$0	$0
Pro. fundraising fees	$0	$0
Investment mgmt fees	$107,458	$37,886	183.6%
Other fee-for-service	$1,314,364	$0	999%
Advertising and promotion	$352,566	$410,991	-14.2%
Office expenses	$514,643	$559,465	-8.0%
Information tech. expenses	$175,703	$347,267	-49.4%
Royalty expenses	$0	$0
Occupancy	$538,617	$502,573	7.2%
Travel	$513,854	$578,036	-11.1%
Public official travel and entertainment	$0	$0
Conferences, meetings, etc.	$0	$0
Interest	$82,588	$81,200	1.7%
Payments to affiliates	$0	$0
Depreciation, amortization, etc.	$545,099	$597,631	-8.8%
Insurance	$157,160	$162,152	-3.1%
All other expenses	$113,322	$112,486	0.7%
Total expenses	$187,899,785	$185,528,185	1.3%

Field	2017	2016	% Change
Cash (non-interest-bearing)	$0	$0
Savings, short-term investments, etc.	$24,268,124	$17,581,332	38.0%
Pledges and grants receivable	$2,024,861	$1,947,612	4.0%
Accounts receivable	$1,799,308	$1,833,252	-1.9%
Loans receivable from officers, directors, etc.	$0	$0
Loans receivable from other disqualified persons	$0	$0
Notes and loans receivable	$0	$0
Inventories for use	$0	$0
Prepaid expenses and deferred charges	$274,663	$385,887	-28.8%
Buildings, equipment, etc. post-depreciation	$3,019,368	$2,436,198	23.9%
Investments, publicly traded securities	$109,140,721	$106,279,126	2.7%
Investments, other securities	$5,956,917	$6,064,086	-1.8%
Investments, program-related	$0	$0
Intangible assets	$1,162,097	$1,365,655	-14.9%
Other assets	$251,696	$250,116	0.6%
Total assets	$147,897,755	$138,143,264	7.1%

Field	2017	2016	% Change
Accounts payable and accrued expenses	$1,576,406	$1,333,825	18.2%
Grants payable	$0	$0
Deferred revenue	$0	$0
Tax-exempt bond liabilities	$0	$0
Escrow or custodial account liability	$0	$0
Loans payable to officers and disqualified persons	$0	$0
Secured mortgages and notes payable to unrelated third parties	$1,469,391	$772,304	90.3%
Unsecured notes and loans payable to unrelated third parties	$0	$0
Other liabilities	$44,591,058	$41,369,874	7.8%
Total liabilities	$47,636,855	$43,476,003	9.6%

Field	2017	2016	% Change
Unrestricted net assets	$8,472,070	$6,772,995	25.1%
Temporarily restricted net assets	$78,085,063	$74,403,213	4.9%
Permanently restricted net assets	$13,703,767	$13,491,053	1.6%

Social media

Facebook

Open ScholarshipAmerica Facebook page

Twitter

Open scholamerica Twitter page

Vendors for Scholarship America

Vendor	Services	Amount paid	Date
Baker Tilly Virchow Krause LLP	Tax accounting; Audit accounting		2018-09-27
██████	Fundraising software		2018-03-19
█████████ ████████	Software		2018-03-19
███████ ███ ████	Fundraising software; Payment processing		2018-03-19
██████████ ████████	Marketing Communications	$165,000	2017-12-01
████████ ███████████ ███	Software Development	$340,968	2017-12-01
██████ █ ███	Software Development	$119,225	2017-12-01
██████████ ██████ ███	Strategy Consulting	$126,075	2017-12-01
...and 11 more vendors

Personnel at Scholarship America

Name	Title	Compensation	Most recent data
Robert C. Ballard	President and Chief Executive Officer	$283,884	July 26, 2019
Richard S. Rick Greene	Chief Financial Officer	$206,992	July 26, 2019
██████ ██ ███████	Founder of	-	Aug. 31, 2017
██████ ████████	Vice President, Operations	$119,866	July 26, 2019
███ ████████	Vice President, Marketing and Brand Strategy	-	July 26, 2019
████ ██████	Senior Vice President Marketing and Public	$156,097	Dec. 31, 2016
█████████ ███████	Vice President, Technology Data Privacy Officer	$137,703	July 26, 2019
██████ ██ █████	Vice President, Development	-	July 26, 2019
███ █████	Vice President , Human Resources and Student Success Programs	-	Jan. 10, 2018
████████ █████	Vice President , Human Resources and Student Success Programs / Vice President Human Resources	$160,608	Dec. 31, 2017
...and 14 more key personnel

Peer scholarship and financial aid organizations

	Name	Type	Revenue	Location
1	Gator Boosters	501(c)(3)	$49 million	Gainesville, FL
2	National Merit Scholarship Corporation	501(c)(3)	$52 million	Evanston, IL
3	Northern State University Foundation	501(c)(3)	$48 million	Aberdeen, SD
4	Edsouth Services	501(c)(3)	$109 million	Knoxville, TN
5	Texas A & M University 12th Man Foundation	501(c)(3)	$71 million	College Station, TX
6	ECMC Group	501(c)(3)	$408 million	Minneapolis, MN
7	DonorsChoose org	501(c)(3)	$148 million	New York, NY
8	Ku Endowment	501(c)(3)	$194 million	Lawrence, KS
9	The Homer Fund	501(c)(3)	$88 million	Atlanta, GA
10	University of South Carolina Educational Foundation	501(c)(3)	$96 million	Columbia, SC
11	Florida State University Research Foundation (FSURF)	501(c)(3)	$47 million	Tallahassee, FL
12	South Carolina Student Loan Corporation (SCSL)	501(c)(3)	$76 million	Columbia, SC
13	University of Wisconsin Foundation (UWF)	501(c)(3)	$476 million	Madison, WI
14	Mastercard Foundation	501(c)(4)	$127 million	Canada,
15	Second Harvest Heartland	501(c)(3)	$153 million	Maplewood, MN
16	The Minneapolis Foundation	501(c)(3)	$147 million	Minneapolis, MN
17	Feeding America Eastern Wisconsin	501(c)(3)	$59 million	Milwaukee, WI
18	Atlantic Coast Conference	501(c)(3)	$418 million	Greensboro, NC
19	Jewish Community Foundation of San Diego	501(c)(3)	$131 million	San Diego, CA
20	My Choice Family Care	501(c)(3)	$317 million	Wauwatosa, WI
21	Children's Advocacy Centers of Texas	501(c)(3)	$50 million	Austin, TX
22	Early Learning Coalition of Orange County	501(c)(3)	$67 million	Orlando, FL
23	Kennesaw State University (KSU)	501(c)(3)	$54 million	Kennesaw, GA
24	Kars4kids	501(c)(3)	$58 million	Lakewood, NJ
25	PAC-12 Conference	501(c)(3)	$509 million	San Francisco, CA

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