Scholarship America Inc

Organization Overview

Scholarship America Inc is located in Minneapolis, MN. The organization was established in 1962. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2020, Scholarship America Inc employed 9 individuals. 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 12/2020, Scholarship America Inc generated $29.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $23.1m during the year ending 12/2020. While expenses have increased by 2.1% per year over the past 6 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.

Since 2014, Scholarship America Inc has awarded 108 individual grants totaling $4,139,461. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF SCHOLARSHIP AMERICA IS TO MOBILIZE AMERICA THROUGH SCHOLARSHIPS AND EDUCATIONAL SUPPORT, TO MAKE POSTSECONDARY EDUCATION POSSIBLE FOR ALL STUDENTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE SCHEDULE O. SCHOLARSHIP AMERICA DOLLARS FOR SCHOLARS AFFILIATES ARE A NATIONAL NETWORK OF COMMUNITY-BASED, VOLUNTEER-OPERATED SCHOLARSHIP FOUNDATIONS IN CITIES, TOWNS, AND NEIGHBORHOODS THROUGHOUT THE UNITED STATES OF AMERICA. THE AFFILIATES PROVIDE AN EFFECTIVE WAY FOR COMMUNITIES TO WORK TOGETHER ON A LOCAL LEVEL TO PROVIDE FINANCIAL SUPPORT THROUGH SCHOLARSHIPS, AS WELL AS ACADEMIC SUPPORT, AND THEREBY ASSIST LOCAL STUDENTS IN ACHIEVING THEIR EDUCATIONAL GOALS.IN 2020 THERE WERE 460 AFFILIATES OPERATING IN 30 STATES AND THE DISTRICT OF COLUMBIA. OVER 9,700 VOLUNTEERS STAFF THEIR EFFORTS. THE VOLUNTEERS ARE GIVEN TRAINING TO RAISE SCHOLARSHIP MONEY, AS WELL AS PROVIDE ACADEMIC SUPPORT TO LOCAL STUDENTS. LAST YEAR, DOLLARS FOR SCHOLARS RAISED OVER $20.3 MILLION FOR CURRENT AND ENDOWED SCHOLARSHIPS; THEY AWARDED OVER $19.9 MILLION WITH THE BALANCE GOING TO ENDOWMENTS AND FUTURE SCHOLARSHIPS. SCHOLARSHIPS WERE GIVEN TO MORE THAN 17,870 STUDENTS.SINCE ITS INCEPTION IN 1958, SCHOLARSHIP AMERICA'S DOLLARS FOR SCHOLARS AFFILIATES HAVE DISTRIBUTED MORE THAN $736.8 MILLION TO OVER 870,990 STUDENTS. IN ADDITION, DOLLARS FOR SCHOLARS HAS ENROLLED 257 COLLEGIATE PARTNERS WHICH ARE POSTSECONDARY INSTITUTIONS THAT AGREE NOT TO REDUCE THEIR GRANT AID WHEN DOLLARS FOR SCHOLARS SCHOLARSHIPS COME TO THEIR INSTITUTIONS. FIFTY-EIGHT OF THESE PARTNERS GO A STEP FURTHER AND MATCH THE DOLLARS FOR SCHOLARS AWARDS THAT COME ONTO THEIR CAMPUSES.DOLLARS FOR SCHOLARS AFFILIATES NOT ONLY PROVIDE FINANCIAL SUPPORT, THEY ALSO PROVIDE ACADEMIC SUPPORT TO STUDENTS IN ORDER TO PREPARE THEM FOR POSTSECONDARY EDUCATION. ACADEMIC SUPPORT PROGRAMS INCLUDE DOLLARS FOR SCHOLARS VOLUNTEERS WHO ASSIST IN SCHOOLS, WHO MENTOR STUDENTS, WHO PROVIDE CAREER PLANNING AND WHO ASSIST STUDENTS EVALUATE THEIR COLLEGE AND VOCATIONAL SCHOOL OPPORTUNITIES. THESE SERVICES COMBINED WITH FUNDS MEAN ACCESS FOR MORE STUDENTS, WHO ARE BETTER ABLE TO BENEFIT FROM THE OPPORTUNITIES AVAILABLE TO THEM, AND WHO ARE AWARE OF WHAT THOSE OPPORTUNITIES CAN BE.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$23,580
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$20,269,044
Noncash contributions included in lines 1a–1f $600
Total Revenue from Contributions, Gifts, Grants & Similar$20,292,624
Total Program Service Revenue$0
Investment income $5,442,629
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,763,332
Net Income from Fundraising Events $1,450,769
Net Income from Gaming Activities -$15,872
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $29,933,482

Grants Awarded

Over the last fiscal year, Scholarship America Inc has awarded $391,226 in support to 12 organizations.

Grant RecipientAmount

BELLEVUE ROTARY FOUNDATION

Org PageRecipient Profile

Bellevue, WA

PURPOSE: INVESTMENT TO FUND FUTURE SCHOLARSHIPS

$84,353

Providence, RI

PURPOSE: INVESTMENT TO FUND FUTURE SCHOLARSHIPS

$60,000

PELLA COMMUNITY FOUNDATION

Org PageRecipient Profile

Pella, IA

PURPOSE: INVESTMENT TO FUND FUTURE SCHOLARSHIPS

$57,904

COMMUNITY FOUNDATION OF NORTHEAST IOWA

Org PageRecipient Profile

Cedar Falls, IA

PURPOSE: INVESTMENT TO FUND FUTURE SCHOLARSHIPS

$45,000

Spokane, WA

PURPOSE: INVESTMENT TO FUND FUTURE SCHOLARSHIPS

$42,065

PUTNAM COUNTY COMMUNITY FOUNDATION

Org PageRecipient Profile

Greencastle, IN

PURPOSE: INVESTMENT TO FUND FUTURE SCHOLARSHIPS

$32,213
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Scholarship America Inc has recieved totaling $82,140.

Awarding OrganizationAmount
Community Foundation Of New Jersey

Morristown, NJ

PURPOSE: GENERAL SUPPORT

$34,050
Rci-Iibec Foundation Inc

Raleigh, NC

PURPOSE: SCHOLARSHIPS AND GENERAL FUND RESEARCH EDUCATION

$31,900
Highpoint Cares Foundation Inc

Indianapolis, IN

PURPOSE: SCHOLARSHIPS TO BE AWARDED

$10,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$6,190
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$133,720,600
Earnings$6,974,649
Net Contributions$3,441,632
Ending Balance$144,136,881

Peer Organizations

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