Overview
What is Scholarship America Inc?
Scholarship America Inc, based in Minneapolis, Minnesota, is a leading national education service organization dedicated to eliminating barriers to educational success. With a vision of empowering an America where those in need have opportunities for equitable paths to education and training, Scholarship America has distributed over $5.1 billion in scholarship assistance to more than 3.0 million students since 1958. Their programs provide students with financial, cultural, and social supports, including Dollars for Scholars, Emergency Aid, The Dream Award Scholarship Program, and Scholarship Management Services. The organization, which employs 246 individuals, strives to help students persist and attain success throughout their academic journey.
Official website here: www.scholarshipamerica.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 99% (Four-Star out of Four Star rating)
Scholarship America Inc has received an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. With an Accountability & Finance score of 97 and an Impact & Measurement score of 100, the organization demonstrates a high level of transparency and effectiveness in its operations. The organization is particularly noteworthy for its 95.25% program expense ratio, indicating that a significant majority of funds are directed toward its mission of providing scholarships.
The nonprofit also showcases robust governance practices, with 100% of its board members being independent, which helps mitigate conflicts of interest. The organization has established comprehensive policies, including a conflict of interest policy and a whistleblower policy, both of which received perfect scores in assessments. Additionally, their leadership and adaptability scores are at the maximum of 100, suggesting a well-managed organization that is responsive to evolving needs.
While the financial health indicators, such as a fundraising efficiency ratio of $0.012, suggest effective use of resources, the working capital ratio of 0.50 years indicates a potential area for improvement in financial sustainability. Overall, Scholarship America Inc is recognized for its strong impact and strategic goals, particularly its aim to award scholarships to high-need, historically marginalized students by 2027.
This AI summary has been generated from information found on Charity Navigator.
Is Scholarship America Inc legitimate?
Scholarship America Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Scholarship America Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $569,976
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,656,795
For more financial information, click here
Official website here: www.scholarshipamerica.org
What is the mission statement of Scholarship America Inc?
Scholarship America Inc is a national education service organization dedicated to eliminating barriers to educational success. Their vision is to empower an America where those with the greatest need have the opportunity to pursue their dreams through equitable pathways to education and training. Since 1958, they have distributed over $5.1 billion in scholarship assistance to over 3 million students. Their programs focus on providing students with financial, cultural, and social supports to help them persist and attain success. Some of their initiatives include the Dollars for Scholars program, emergency aid, The Dream Award Scholarship Program, and scholarship management services.
Official website here: www.scholarshipamerica.org
Who is the CEO of Scholarship America Inc?
Michael Nylund is the President And Ceo of Scholarship America Inc. The CEO's salary of Scholarship America Inc is $276,551 and their total compensation is $297,005.
Official website here: www.scholarshipamerica.org
What is the revenue of Scholarship America Inc?
Scholarship America Inc's revenue in 2022 was $222,521,699.
Official website here: www.scholarshipamerica.org
Who are the executives of Scholarship America Inc and what are their salaries?
The average compensation at Scholarship America Inc during 2022 was $45,637. There are 246 employees and 10000 volunteers at Scholarship America Inc.
Here are 29 key members and their salaries (Scholarship America Inc's CEO's salary is $276,551 and their total compensation is $297,005):
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- Compensation: $276,551
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- Compensation: $146,850
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- Other: $39,519
Official website here: www.scholarshipamerica.org
Where can I find the form 990 for Scholarship America Inc?
Scholarship America Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.scholarshipamerica.org
Learn more at the official website: www.scholarshipamerica.org
Mission Statement of Scholarship America Inc
Scholarship America Inc, a renowned national education service organization, is dedicated to eliminating barriers to educational success for students from all backgrounds. With a vision to empower a nation where those in need have the opportunity to pursue their dreams, Scholarship America has distributed over $5.1 billion in scholarship assistance to more than 3.0 million students since its inception in 1958.
The mission of Scholarship America is to provide equitable pathways to education and training for students through financial, cultural, and social supports. Scholarship America's programs are designed to help students persist and attain academic success. Among its offerings are the Dollars for Scholars program, Emergency Aid, The Dream Award Scholarship Program, and Scholarship Management Services. These programs aim to address the financial, cultural, and social needs of students, ensuring they can focus on their education without being hindered by external challenges.
By offering a range of programs that cater to different student needs, Scholarship America is making a significant impact in the lives of students across the country. Their programs not only provide financial assistance but also offer essential support systems that help students navigate their academic journey. Through their initiatives, Scholarship America is dedicated to empowering students and expanding opportunities for a brighter future.
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Impact
October, 2024
Scholarship America Inc significantly impacts educational accessibility and equity across the United States. By eliminating barriers to educational success, it empowers students to pursue their dreams through various scholarship and support programs. Since its inception in 1958, the organization has distributed over $5.1 billion in scholarship assistance to more than 3 million students, fostering diverse pathways for educational advancement.
Through initiatives like Dollars for Scholars, Emergency Aid, and the Dream Award Scholarship Program, Scholarship America provides not only financial assistance but also critical cultural and social support that encourages students to persist in their academic journeys. By focusing on equity, the organization makes a concerted effort to ensure that those with the greatest need have access to education and training opportunities. This commitment to empowering students translates into a broader societal impact, creating a more educated workforce and contributing to the overall well-being of communities across the nation.
This information is meant to be a general summary of Scholarship America Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,643,699
- Program Service Revenue: $14,221,466
- Gross Receipts: $313,676,416
Assets and Liabilities:
- Total Assets: $168,435,471
- Total Liabilities: $63,768,998
- Net Assets: $104,666,473
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$13,754,016
DOLLARS FOR SCHOLARS
Revenue
$467,450
Organization Details
Founding Year
1961
Phone
(952) 830-7396Principal Officer
Michael Nylund
Main Address
7900 INTERNATIONAL DR 500, MINNEAPOLIS, MN, 55425
Website
www.scholarshipamerica.orgNTEE Category
Code: B820 - Education
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