Scholarships for Kids Inc

Nonprofit profile at a glance

EIN
462286764
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Birmingham, AL, USA
Phone
2054809997
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$24,884,088
Expenses
$21,717,770
Assets
$45,035,594
Liabilities
$32,653

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • STEPHEN BRIDGERS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STEPHEN BRIDGERS (EXECUTIVE DIRECTOR): $154,406 total reported compensation
  • LITASHA STEELE (DIRECTOR OF SCHOOL RELATIONS): $104,588 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to support education and educational opportunities. We provide scholarships to children from lower income families to attend private k-12 schools of their parents' choice. We emphasize the importance of parents investing their time, talent and resources in their children's school community. We support schools that promote academic excellence and prioritize character development. Scholarships for kids at all times seeks to operate in an effective, efficient and ethical manner.

What it reported doing in 2024

The organization raised over $23.2 million to fund scholarships for students to attend partner schools located across the state. During 2023, we received approximately 1,156 separate tax credit contributions. Due to the organization's success, partner schools are filling otherwise empty seats in the current school year.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

STRONG - 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.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 99.4%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 40th 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; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.7%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.07; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: 16% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 16.3% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 22.7% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 99.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $21.6M in reported program spending
  • Leadership: top reported pay $154K · 9 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $339K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 78 filed money-flow records
  • Related organizations: 76 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.