Scholarshot
- Assets
- $342.7k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Dallas, TX
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 27-0232250
Organization Overview
Scholarshot is located in Dallas, TX. The organization was established in 2010. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2023, Scholarshot employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarshot 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 12/2023, Scholarshot generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 16.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FIRST-GENERATION, LOW-INCOME TEXAS STUDENTS THE SUPPORT NEEDED TO SUCCESSFULLY ATTAIN A WORKFORCE READY, POSTSECONDARY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR SCHOLAR PROGRAM HAS A 90% DEGREE COMPLETION RATE AND PROVIDES FUNDING, ONE-ON-ONE ACADEMIC AND EMOTIONAL SUPPORT TO LOW-INCOME, FIRST-GENERATION STUDENTS. THE KEY TO OUR HIGH SUCCESS RATE IS THE ROLE OF OUR ACADEMIC MANAGERS. THEY ASSIST WITH DEGREE PLANNING, BUDGETING AND PROVIDE PERSISTENT HANDS=ON GUIDANCE AND EMOTIONAL SUPPORT.WE HAVE LEVERAGED THE DATA WE HAVE GLEANED FROM THE SCHOLAR PROGRAM TO CREATE BEST PRACTICES THAT WE HAVE SHARED WITH COLLEGES AND UNIVERSITIES THROUGH OUR UNIVERSITY REPORT CARD. PUBLISHED ANNUALLY FROM 2020, THE REPORT CARD MEASURES AND CHALLENGES HOW UNIVERSITIES ENGAGE AND SUPPORT FIRST-GENERATION, LOW-INCOME STUDENTS.THE GAPAPP IS A FREE MOBILE TOOL WHERE TEXAS STUDENTS COMPLETE THEIR PROFILE TO FIND THEIR BEST OPTIONS AFTER HIGH SCHOOL. STUDENTS WITH NO POST-DIPLOMA PLANS ARE REFERRED TO 3 LOCAL COMMUNITY COLLEGE GAMPUSES TO EARN AT LEAST A VOCATIONAL CERTIFICATE. STUDENTS MAKING COLLEGE PLANS ARE SHOWN THEIR BEST SCHOOL MATCHES BASED ON THEIR FINANCIAL AND ACADEMIC ASSETS.TO BETTER PREPARE HIGH SCHOOLERS WE HAVE LAUNCHED MAPPING YOUR FUTURE, A COMPREHENSIVE CURRICULUM. DESIGNED BY EDUCATION EXPERTS, THE CURRICULUM COMBINES COLLEGE AND CAREER EXPLORATION WITH FINANCIAL LITERACY LEADING TO A GREATER UNDERSTANDING OF A STUDENT'S PATH AFTER HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cliff Braly Finance, Vice Chair | OfficerTrustee | 1 | $0 |
Isabel Brown Finance | Trustee | 1 | $0 |
Mario Dolan Governance | Trustee | 1 | $0 |
Cole Evans Operations | Trustee | 1 | $0 |
Dan Hooper Executive Director | OfficerTrustee | 40 | $185,000 |
Guy Kerr Compliance & Governance | 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 | $1,468,883 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,468,883 |
| Total Program Service Revenue | $0 |
| Investment income | $3,175 |
| 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 | $1,472,058 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $534,356 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $185,000 |
| Compensation of current officers, directors, key employees. | $46,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $488,450 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,938 |
| Payroll taxes | $49,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,693 |
| Advertising and promotion | $0 |
| Office expenses | $30,317 |
| Information technology | $28,122 |
| 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 | $4,190 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,204 |
| All other expenses | $150 |
| Total functional expenses | $1,512,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $342,150 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $342,650 |
| 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 | $150,352 |
| Other liabilities | $5,290 |
| Total liabilities | $155,642 |
| Net assets without donor restrictions | $187,008 |
| Net assets with donor restrictions | $0 |
| 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 | $342,650 |