Answer Scholarship Inc

Organization Overview

Answer Scholarship Inc is located in Charlotte, NC. The organization was established in 2016. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Answer Scholarship Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO MENTOR AND PREPARE MOTHERS OF SCHOOL-AGE CHILDREN TO ACHIEVE A COLLEGE EDUCATION AND INSPIRE THEM TO BE ROLE MODELS OF ACADEMIC, PERSONAL, AND PROFESSIONAL SUCCESS FOR THEIR CHILDREN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MENTORS FOR MOM PROGRAM - ONE OF THE MOST IMPACTFUL THINGS WE DO FOR OUR SCHOLARS IS CONNECT THEM WITH A VOLUNTEER MENTOR THROUGH OUR MENTORS FOR MOM PROGRAM. MENTORS OFFER OUR SCHOLARS SUPPORT AND GUIDANCE ON BALANCING FAMILY, WORK AND SCHOOL. SCHOLARS MEET REGULARLY WITH THEIR MENTORS FOR ADVICE, MOTIVATION, OR SIMPLY AS A SOUNDING BOARD. SCHOLARS AND MENTORS ALSO CONVENE MONTHLY AS A GROUP, WHERE THEY SHARE EXPERIENCES AND LEARN FROM EXPERTS ON ESSENTIAL TOPICS, SUCH AS FINANCIAL PLANNING, PROFESSIONAL DEVELOPMENT AND WOMEN'S HEALTH. SCHOLARS MUST PARTICIPATE IN THE MENTORS FOR MOM PROGRAM AS PART OF THE SCHOLARSHIP TERMS. THIS PROGRAM IS UTILIZED TO GAUGE HOW WELL THE SCHOLARS ARE DOING IN SCHOOL, ALLOWING US TO IDENTIFY AND RESOLVE ISSUES BEFORE THEY BECOME SETBACKS.


IN FISCAL YEAR 2021, ANSWER SCHOLARSHIP, INC. PAID $44,801 TO AN ENDOWMENT FUND HELD AT FOUNDATION FOR THE CAROLINAS. THE ENDOWMENT FUND IS CALLED THE ANSWER SCHOLARSHIP ENDOWMENT. ANSWER INC. UTILIZES THIS FUND AS A MEANS TO PROVIDE SCHOLARSHIPS FOR STUDENTS. IN 2021, FOUNDATION FOR THE CAROLINAS AWARDED $69,175 IN SCHOLARSHIPS TO ANSWER INC. SCHOLARS, $44,801 OF WHICH WAS PROVIDED BY ANSWER INC. THE REMAINING $24,374 WAS PROVIDED BY THE ENDOWMENT.


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Board, Officers & Key Employees

Name (title)Compensation
Susan Andersen
CEO
$22,000
Patricia Maruna
Secretary
$0
Nicole Ellis
Treasurer
$0
Tani Seymore
Treasurer
$0
Russell Blaise
Director
$0
Kevin Macmurphy
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$65,692
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$138,350
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$204,042
Total Program Service Revenue$0
Investment income $115
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$9,007
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $195,150

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Answer Scholarship Inc has recieved totaling $15,500.

Awarding OrganizationAmount
Mer Foundation Inc

Charlotte, NC

PURPOSE: GENERAL FUND

$15,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$51,654
Earnings$15,643
Admin Expense$504
Ending Balance$66,793

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