Passageway Scholarship Foundation

Analysis

Passageway Scholarship Foundation is a registered charity in United States, based in Minden, NV. It received its IRS tax-exemption ruling in October 2002, 24 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, Passageway Scholarship Foundation reported income of $61k and spending of $31k, leaving 49% of income unspent that year. Across the 5 years on record, from December 2018 to December 2023, income fell from $61k to $61k (-1.1%), an average of -0.3% a year. The sharpest change came in the year to December 2020, when income rose by 283%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Passageway Scholarship Foundation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 27th percentile within NV. Charities of a similar size with the same main cause include Iron Lion Booster Club ($61k), Music Youth Partnership ($61k) and International Mind Brain and Education Society Inc ($61k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $932k against liabilities of $0, net assets of $932k.