Independent Scholarship Inc

Analysis

Independent Scholarship Inc is a registered charity in United States, based in Hahira, GA. It received its IRS tax-exemption ruling in November 1968, 58 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Independent Scholarship Inc reported income of $6.8m and spending of $6.4m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.3m to $6.8m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independent Scholarship Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within GA. Charities of a similar size with the same main cause include Maui Economic Development Board Inc Medb ($6.8m), Food Bank of Siouxland Inc ($6.8m) and Northwest Community Hospital Foundation ($6.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.6% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $165k (2.6% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $11.0m against liabilities of $4.8m, net assets of $6.2m. It reported 121 employees.