Scholarships for Kids Inc

Analysis

Scholarships for Kids Inc is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in June 2013, 13 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, Scholarships for Kids Inc reported income of $27.3m and spending of $18.6m, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.6m to $27.3m (+186%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 72%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Scholarships for Kids Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within AL. Charities of a similar size with the same main cause include Providence Academy ($27.3m), Morgan State University Foundation Incorporated ($27.3m) and Miami University Foundation Inc ($27.3m).

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 $157k (0.8% of expenses). At year end it held assets of $41.9m against liabilities of $96k, net assets of $41.8m. It reported 2 employees.