Scholarshot

Analysis

Scholarshot is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in April 2010, 16 years ago. 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, Scholarshot reported income of $1.5m and spending of $1.5m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $984k to $1.5m (+50%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Scholarshot sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 87th percentile within TX. Charities of a similar size with the same main cause include East Shore Industries Inc ($1.5m), Public Defender Corporation for Raleigh County ($1.5m) and The Arc of Licking County ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $185k (12% of expenses). Other salaries and wages came to $488k. At year end it held assets of $343k against liabilities of $156k, net assets of $187k. It reported 10 employees.