Opportunity Scholarship Fund
- Assets
- $4.7m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-4511347
Organization Overview
Opportunity Scholarship Fund is located in Tulsa, OK. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opportunity Scholarship Fund 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, Opportunity Scholarship Fund generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.0% each year . All expenses for the organization totaled $5.4m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE OPPORTUNITY SCHOLARSHIP FUND IS A SCHOLARSHIP GRANTING ORGANIZATION THAT PROVIDES SCHOLARSHIPS TO OKLAHOMA PREK-12 STUDENTS TO ATTEND ACCREDITED PRIVATE SCHOOLS IN OUR STATE. ONCE A STUDENT HAS RECEIVED A SCHOLARSHIP, THAT STUDENT AND HIS OR HER SIBLINGS REMAIN ELIGIBLE UNTIL HIGH SCHOOL GRADUATION OR AGE 21, WHICHEVER IS FIRST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES BENEFITS FOR OKLAHOMA PREK-12 STUDENTS, FAMILIES, SCHOOLS AND DONORS. THE FUND EMPHASIZES FINANCIAL ASSISTANCE FOR LOWER-INCOME OKLAHOMA STUDENTS IN THE FORM OF SCHOLARSHIPS. THE FUND ASSISTS ACCREDITED PRIVATE PREK-12 SCHOOLS TO BUILD TUITION SCHOLARSHIPS WITH THE BENEFIT OF STATE INCOME TAX CREDITS. IN 2022, APPROXIMATELY 1,207 SCHOLARSHIPS WERE AWARDED TO OKLAHOMA PREK-12 STUDENTS THROUGH PARTICIPATING SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brittoni Lantz Director | Trustee | 1 | $0 |
Charles Daniels Director | Trustee | 2 | $0 |
Dan Newberry Director | Trustee | 1 | $0 |
Hopper Smith Director | Trustee | 1 | $0 |
James Reed Treasurer | OfficerTrustee | 1 | $0 |
Michael Lapolla Vice President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Candor Public Relations Llc Marketing/pr | 12/30/20 | $149,290 |
Robert Sellers Consulting | 12/30/20 | $119,700 |
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 | $4,901,030 |
| Noncash contributions included in lines 1a–1f | $68,124 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,901,030 |
| Total Program Service Revenue | $409,380 |
| Investment income | $22,236 |
| 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 | $5,332,646 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,901,030 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30 |
| Fees for services: Accounting | $37,199 |
| Fees for services: Lobbying | $41,603 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $177,568 |
| Advertising and promotion | $141,615 |
| Office expenses | $29,978 |
| Information technology | $39,147 |
| Royalties | $0 |
| Occupancy | $12,237 |
| Travel | $3,954 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $749 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,066 |
| All other expenses | $6,757 |
| Total functional expenses | $5,396,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,689,615 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,689,615 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $332,596 |
| Net assets with donor restrictions | $4,357,019 |
| 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 | $4,689,615 |