Scholar Fund
- Assets
- $17.3m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 29
- Location
- Seattle, WA
- Founding
- 02/2018
- Data as of
- 12/2022
- EIN
- 81-3153433
Organization Overview
Scholar Fund, operating under the name Scholarship Junkies, is located in Seattle, WA. The organization was established in 2018. 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, Scholarship Junkies employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarship Junkies 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, Scholarship Junkies generated $6.4m in total revenue. All expenses for the organization totaled $6.1m during the year ending 12/2022. While expenses have increased by 184.9% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CULTIVATE AND ESTABLISH A POSITIVE IMPACT. WE PRIMARILY ACCOMPLISH THIS BY CONNECTING COMMUNITY NEEDS TO RESOURCES AND OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEATTLE RELIEF FUND- IN 2020, THE ORGANIZATION RECEIVED A GRANT FROM THE CITY OF SEATTLE'S OFFICE OF IMMIGRANT AND REFUGEE AFFAIRS TO PROVIDE ONE TIME CASH ASSISTANCE PAYMENTS TO ELIGIBLE APPLICANTS EXPERIENCING HARDSHIP.
BEST START FOR KIDS CHILDCARE IS A KING COUNTY VOTER-APPROVED INITIATIVE TO SUPPORT EVERY BABY BORN OR CHILD RAISED IN KING COUNTY TO REACH ADULTHOOD HAPPY, HEALTHY, SAFE, AND THRIVING. STARTING IN 2022, THESE INVESTMENTS INCLUDE $20 MILLION PER YEAR FOR A NEW CHILD CARE SUBSIDY PROGRAM.
SMALL BUSINESS FUND - IN THE FACE OF UNPRECEDENTED NEED THE SEATTLE OFFICE OF ECONOMIC DEVELOPMENT PUT FORTH FUNDS IN DIRECT CASH ASSISTANCE TO SMALL BUSINESSES WITH A FOCUS ON RESTAURANTS AND BARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Coven CEO | 40 | $229,600 | |
Malachi Williams Director Of Operations | Officer | 40 | $154,060 |
Brent Schroeter Director Of Engineering | Officer | 40 | $168,168 |
Princess Shareef Board Chair | Trustee | 2 | $0 |
Eileen Robison Secretary | Trustee | 2 | $0 |
Ana Mari Cauce Member | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daniela Murguia Program Management Consultant | 12/30/22 | $167,759 |
Adam Burden Sr Program And Implementation Consultant | 12/30/22 | $136,050 |
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 | $212,231 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $212,231 |
| Total Program Service Revenue | $6,148,651 |
| Investment income | $168 |
| 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 | $6,361,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,653,155 |
| 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. | $655,887 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,296,788 |
| Pension plan accruals and contributions | $64,009 |
| Other employee benefits | $155,351 |
| Payroll taxes | $168,218 |
| Fees for services: Management | $796,984 |
| Fees for services: Legal | $28,390 |
| 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 | $4,287 |
| Advertising and promotion | $0 |
| Office expenses | $38,455 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,584 |
| Travel | $7,044 |
| 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 | $35,537 |
| Insurance | $16,439 |
| All other expenses | $0 |
| Total functional expenses | $6,106,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,864,559 |
| Savings and temporary cash investments | $1,798 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $391,719 |
| 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 | $17,258,076 |
| Accounts payable and accrued expenses | $14,165,562 |
| 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 | $14,165,562 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $3,092,514 |
| 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 | $17,258,076 |