Scholarchips Inc

Analysis

Scholarchips Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in October 2014, 12 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 June 2023, Scholarchips Inc reported income of $261k and spending of $375k, spending 144% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $247k to $261k (+5.5%), an average of +1.8% a year. The sharpest change came in the year to June 2021, when income rose by 98%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Scholarchips Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 33rd percentile within DC. Charities of a similar size with the same main cause include National Council on Bible Curriculum in Public Schools ($261k), Julia F Thompson Inc ($261k) and Torch of Wisdom Foundation ($261k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $93k (25% of expenses). At year end it held assets of $406k against liabilities of $9,326, net assets of $396k. It reported 1 employees.