Funding for Scholars
Nonprofit profile at a glance
- EIN
- 465079918
- IRS 990 coverage
- 2017–2017
- Forms available
- Form 990 2017, Form 990-EZ 2016
- Location
- Aiken, SC, USA
- Phone
- 8035087679
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $22,212
- Expenses
- $31,775
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- SCOTT HEATH (PRESIDENT)
- CECELIA HEWETT (VICE PRESIDENT)
People named in this filing
- VAN SMITH (BOARD MEMBER)
- SAM MCGILL (BOARD MEMBER)
- DANIEL SEAWELL (BOARD MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Funding for scholars is a locally operated and supported nonprofit, tax-exempt, scholarship organization. Operated by an all-volunteer board of directors, the purpose of funding for scholars is to provide access to higher education to graduating high school seniors who demonstrate academic promise. In support of this purpose, funding for scholars stimulates community financial support for local students to pursue higher levels of educational achievement.
Operating model
- Revenue model
- Investment-supported. 96% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 93
- Accountability: 76
- Sustainability: 20
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 94.4%; rating input score 94
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -43.1%; rating input score 27; 27th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -55.8% per year; rating input score 0; 8th percentile among comparable filings
- Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 94.4% of spending went to programs
- Governance: 17 of 17 board members independent · 3 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $30K in reported program spending
- Leadership: top reported pay $0 · 17 people listed
- Consistency: 13 of 13 current checks pass
- Schedules: 4 filed schedules · includes grants
- Contacts: How to reach this organization
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 27/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.