Scholarship America Inc

Analysis

Scholarship America Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in April 1962, 64 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Scholarship America Inc reported income of $240.3m and spending of $234.7m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $206.3m to $240.3m (+16%), an average of +3.9% a year. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Scholarship America Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include University of Portland ($240.1m), Trinity College ($240.4m) and Gallaudet University ($239.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 6.2% of the total. Compensation of current officers, directors and key employees was $634k (0.3% of expenses). Other salaries and wages came to $10.3m. At year end it held assets of $172.3m against liabilities of $57.0m, net assets of $115.3m. It reported 218 employees.