Shawn Carter Scholarship Fund C/o Bessemer Trust Company Na
Nonprofit profile at a glance
- EIN
- 113662240
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2124972073
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $5,146,379
- Expenses
- $1,499,664
- Assets
- $16,531,193
- Liabilities
- $97,276
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- GLORIA CARTER (PRESIDENT)
- DANIA DIAZ (EXECUTIVE DIRECTOR)
Highest reported compensation
- DANIA DIAZ (EXECUTIVE DIRECTOR): $93,151 total reported compensation
- CAROLYN ARCHER (SECRETARY): $20,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To help individuals facing socio-economic hardships further their education at post secondary institutions by providing them with educational scholarships and related educational support services and experiences to ensure their path towards success.
What it reported doing in 2024
National scholarship fund: helps individuals facing socio-economic hardships further their education at institutions of higher learning by providing them with educational scholarships and related educational support services to ensure their path toward success. Scholarships allocated to qualified applicant students in need are selected by an admissions committee comprised of the foundation's management team, staff, and volunteers. The fund provided 308 students with scholarship awards.
Operating model
- Revenue model
- Donor-supported. 86% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
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: 57
- Transparency & Controls: 94
- Accountability: 79
- Sustainability: 87
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 34.5%; rating input score 34
- Program expense ratio: 85.9%; rating input score 86
- Fundraising efficiency: $103.89 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings
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; 44th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 80%; rating input score 80; 14th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 70.9%; rating input score 96; 96th percentile among comparable filings
- Total-asset coverage ratio: 11.02; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
- Officer compensation ratio: 7.5%; rating input score 39; 39th percentile among comparable filings
Growth
- Program expense growth: 10.5% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 19.8% per year; rating input score 100; 88th percentile among comparable filings
- Asset growth: 26.4% per year; rating input score 100; 91st percentile among comparable filings
Details
- Where the money goes: 34.5% of revenue deployed · 85.9% of spending went to programs
- Governance: 4 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $1.3M in reported program spending
- Leadership: top reported pay $93K · 7 people listed
- Highest-paid contractors: 1 contractor listed · $263K reported
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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 — Financial Efficiency: Mission deployment rate scored 34/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Officer compensation ratio scored 39/100.