Overview
What is Scholar Fund?
Scholar Fund is a Seattle-based nonprofit organization, operating under the name Scholarship Junkies, with a team of 25 dedicated individuals. Their primary mission is to make a positive impact in the community by linking resources and opportunities to pressing needs. In response to the Covid-19 public health crisis, they received a grant from the City of Seattle's Office of Immigrant and Refugee Affairs to provide one-time financial assistance to eligible applicants facing hardship. The organization's activities are centered around uplifting and empowering individuals through their grants. Their US address is located on Lenora Street in PMB 1750, Seattle, Washington, 98121.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Stars)
Scholar Fund has received a Two-Star rating from Charity Navigator, indicating concerns regarding its financial accountability and transparency. While the organization boasts a strong independent board with 100% of its members being independent, significant issues arise from the lack of financial statements and the absence of required documents on its website, which affects its overall score negatively.
The organization excels in program expenses, dedicating an impressive 97.24% of its budget to its programs, reflecting a commitment to its mission. There are also positive governance practices in place, such as policies for conflict of interest and whistleblower protection, which enhance its credibility. However, the absence of financial documents and a website listing raises questions about transparency and accessibility of information for stakeholders.
Despite its strengths in board independence and program spending, the limitations regarding financial disclosure and website presence suggest that Scholar Fund may need to improve in these areas to enhance trust and accountability among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Scholar Fund legitimate?
Scholar Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Scholar Fund 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: $576,122
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Scholar Fund?
The Scholar Fund is committed to making a positive impact in the community. They primarily achieve this by bridging the gap between community needs and available resources and opportunities. Through their efforts, they have provided one-time cash assistance payments to eligible individuals facing hardships due to the Covid-19 public health emergency. Their goal is to create lasting change and improve the lives of those in need.
Who is the CEO of Scholar Fund?
David Coven is the Ceo of Scholar Fund. The CEO's salary of Scholar Fund is $53,700 and their total compensation is $53,700.
What is the revenue of Scholar Fund?
Scholar Fund's revenue in 2020 was $15,143,479.
Who are the executives of Scholar Fund and what are their salaries?
The average compensation at Scholar Fund during 2020 was $23,045. There are 25 employees and 20 volunteers at Scholar Fund.
Here are 2 key members and their salaries (Scholar Fund's CEO's salary is $53,700 and their total compensation is $53,700):
- Compensation: $53,700
- Related: $0
- Other: $0
- Compensation: $1,500
- Related: $0
- Other: $0
Where can I find the form 990 for Scholar Fund?
Scholar Fund's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Scholar Fund
Scholar Fund, a notable organization, is dedicated to making a positive impact within communities by bridging the gap between needs and resources. Through its mission, the group focuses on connecting individuals and organizations to foster growth and development.
In practice, Scholar Fund primarily achieves its objectives by identifying and addressing specific community requirements. The organization's efforts are not limited to a particular sector or demographic. Instead, it aims to cater to a diverse range of needs and opportunities.
One of the ways Scholar Fund manifests its mission is through financial assistance programs. For instance, in response to the Covid-19 public health emergency, the organization received a grant from the City of Seattle's Office of Immigrant and Refugee Affairs to provide one-time cash payments to eligible applicants facing hardships. This initiative reflects the organization's commitment to supporting individuals in need and addressing pressing community concerns.
By facilitating access to resources and opportunities, Scholar Fund plays a crucial role in empowering communities and fostering lasting change. Its mission is a testament to the power of collaboration and the transformative impact it can have on individuals and society as a whole.
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Impact
October, 2024
Scholar Fund significantly impacts students' access to higher education by providing essential support services that enhance their chances of success. Through the Job Junkies program, students benefit from personalized resume reviews and career guidance, equipping them with the tools needed to stand out in a competitive job market. Meanwhile, the Story Fellows program offers invaluable assistance with scholarship and college application essays. Students receive one-on-one essay revision, where each submission undergoes a thorough review focused on grammar and structure, ensuring their messages are clear and compelling. Located in Seattle, WA, Scholar Fund fosters educational achievement and empowers students to navigate the complexities of higher education funding.
This information is meant to be a general summary of Scholar Fund. 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 2020.
- Investment Income: $34
- Program Service Revenue: $14,619,518
- Gross Receipts: $15,143,479
Assets and Liabilities:
- Total Assets: $2,443,097
- Total Liabilities: $744,972
- Net Assets: $1,698,125
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
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Revenue
$7,473,968
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Revenue
$6,453,168
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Revenue
$665,586
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Revenue
$26,796
Organization Details
Founding Year
2016
Principal Officer
David Coven
Main Address
300 LENORA ST PMB 1750, Seattle, WA, 98121
NTEE Category
Code: B82 - Education
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