Scholarships For Kids Inc
- Assets
- $33.1m
- Revenue
- $25.1m
- Investments
- $0.0
- Employees
- 2
- Location
- Birmingham, AL
- Founding
- 06/2013
- Data as of
- 12/2022
- EIN
- 46-2286764
Organization Overview
Scholarships For Kids Inc is located in Birmingham, AL. The organization was established in 2013. 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 12/2022, Scholarships For Kids Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarships For Kids 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 12/2022, Scholarships For Kids Inc generated $25.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $13.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Scholarships For Kids Inc has awarded 187 individual grants totaling $36,327,774. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO SUPPORT EDUCATION AND EDUCATIONAL OPPORTUNITIES. WE PROVIDE SCHOLARSHIPS TO CHILDREN FROM LOWER INCOME FAMILIES TO ATTEND PRIVATE K-12 SCHOOLS OF THEIR PARENT'S CHOICE. WE EMPHASIZE THE IMPORTANCE OF PARENTS INVESTING THEIR TIME, TALENT AND RESOURCES IN THEIR CHILDREN'S SCHOOL COMMUNITY. WE SUPPORT SCHOOLS THAT PROMOTE ACADEMIC EXCELLENCE AND PRIORITIZE CHARACTER DEVELOPMENT. SCHOLARSHIPS FOR KIDS AT ALL TIMES SEEKS TO OPERATE IN AN EFFECTIVE, EFFICIENT AND ETHICAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RAISED OVER $21.48 MILLION TO FUND SCHOLARSHIPS FOR STUDENTS TO ATTEND PARTNER SCHOOLS LOCATED ACROSS THE STATE. DURING 2022, WE RECEIVED APPROXIMATELY 1,064 SEPARATE TAX CREDIT CONTRIBUTIONS. DUE TO THE ORGANIZATION'S SUCCESS, PARTNER SCHOOLS ARE FILLING OTHERWISE EMPTY SEATS IN THE CURRENT SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
H Thomas Wells Jr Director | Trustee | 1 | $0 |
Jenifer Kimbrough Director | OfficerTrustee | 1 | $0 |
Mike Flink Director | Trustee | 1 | $0 |
Brian Christine MD Director | Trustee | 1 | $0 |
Thomas H Brigham Jr Director | Trustee | 1 | $0 |
Joel Davis Chairman Of The Board | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,443,349 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,537,102 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,980,451 |
| Total Program Service Revenue | $0 |
| Investment income | $87,729 |
| 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 | $25,068,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,145,447 |
| 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. | $119,167 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $89,166 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,938 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65,128 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $179,558 |
| Advertising and promotion | $2,187 |
| Office expenses | $843 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,784 |
| 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 | $30,367 |
| All other expenses | $7,272 |
| Total functional expenses | $13,759,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,852,692 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,240,157 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,092,849 |
| Accounts payable and accrued expenses | $15,396 |
| 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 | $15,396 |
| Net assets without donor restrictions | $5,156,696 |
| Net assets with donor restrictions | $27,920,757 |
| 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 | $33,092,849 |
Grants Awarded
Over the last fiscal year, Scholarships For Kids Inc has awarded $13,115,270 in support to 62 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA CHRISTIAN ACADEMY PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $92,812 |
AMERICAN ACADEMY OF YOUNG PROFESSIONALS PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $13,351 |
AWAKE COMMUNITY SCHOOL LLC PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $113,000 |
BANKS ACADEMY PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $459,068 |
BESSEMER ACADEMY PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $20,655 |
BUILD UP ENSLEY PURPOSE: TO PROVIDE ACCESS TO QUALITY EDUCATION | $50,000 |