Shawn Carter Scholarship Fund

Analysis

Shawn Carter Scholarship Fund is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Shawn Carter Scholarship Fund reported income of $11.0m and spending of $3.0m, leaving 72% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.9m to $11.0m (+124%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 367%. Over the whole period it spent 45% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Shawn Carter Scholarship Fund sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Wilmington Education Organization ($11.0m), Presidio Hill School ($11.0m) and Sonoma Country Day School ($11.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $116k (3.8% of expenses). Other salaries and wages came to $81k. At year end it held assets of $12.9m against liabilities of $142k, net assets of $12.8m. It reported 2 employees.