Jeremy Elliott Scholarship Foundation

Nonprofit profile at a glance

EIN
202885357
IRS 990 coverage
2015–2025
Forms available
Form 990 2025, Form 990-T 2022
Location
Jefferson, NC, USA
Phone
3368467191
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$677,487
Expenses
$92,310
Assets
$3,200,302
Liabilities
$3,000

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • J MARK VANNOY (V PRESIDENT)
  • WILLIAM E VANNOY (PRESIDENT)

People named in this filing

  • MELISSA P VANNOY (DIRECTOR)
  • J MARK VANNOY (V PRESIDENT)
  • WILLIAM E VANNOY (PRESIDENT)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Scholarships

What it reported doing in 2025

Scholarships - the foundation awarded 55 scholarships during 2025.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 94
  • Accountability: 64
  • Sustainability: 93
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.4%; rating input score 21
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 86.4%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 34.67; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 11% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 21.4% of revenue deployed · 94% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $87K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2015 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 21/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.