Answer Scholarship Inc

Analysis

Answer Scholarship Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Answer Scholarship Inc reported income of $230k and spending of $281k, spending 122% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $195k to $230k (+18%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 18%. Over the whole period it spent 109% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Answer Scholarship Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NC. Charities of a similar size with the same main cause include Coastal Authority Care Foundation Inc ($230k), Helping Women Period Inc ($230k) and A Good Dog Rescue Inc ($230k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $34k (12% of expenses). Other salaries and wages came to $46k. At year end it held assets of $228k against liabilities of $1,482, net assets of $226k. It reported 3 employees.