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 $40.1m and spending of $27.9m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $34.2m to $40.1m (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2021, when income rose by 51%. Over the whole period it spent 70% 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 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Umuc Ventures Inc ($40.1m), University of South Carolina School of Medicine Educational Trust ($40.1m) and Trustees of Newark Academy ($40.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% of the total. It paid $22k in professional fundraising fees. At year end it held assets of $253.1m against liabilities of $0, net assets of $253.1m. It reported 8 employees.