2025-03-19T13:08:14+00:00 2023-12-31 390859910 Baker Tilly Advisory Group LP 225 South 6th St Suite 2300 Minneapolis MN 55402 990 2023-01-01 042296967 SCHOLARSHIP AMERICA INC SCHO 9528307396 7900 INTERNATIONAL DR 500 MINNEAPOLIS MN 55425 RICHARD S GREENE CFO 2025-03-19 true Karen A Gries P00078514 6128764500 2025-03-19 2023 2025-03-06 01:10:19Z X MICHAEL NYLUND 7900 INTERNATIONAL DR MINNEAPOLIS MN 55425 400919473 false X WWW.SCHOLARSHIPAMERICA.ORG X 1961 MA ELIMINATE BARRIERS TO EDUCATIONAL SUCCESS SO THAT ANY STUDENT CAN PURSUE THEIR DREAM. 20 20 218 9500 0 0 205865875 220181709 14221466 14952460 2643699 5225452 -209341 -88281 222521699 240271340 197899104 215549959 0 13892135 13563309 0 2033520 5531350 5627693 217322589 234740961 5199110 5530379 168435471 172303174 63768998 57025596 104666473 115277578 SCHOLARSHIP AMERICA IS A NATIONAL EDUCATION SERVICE ORGANIZATION. OUR VISION IS TO EMPOWER AN AMERICA WHERE THOSE WITH THE MOST NEED HAVE THE OPPORTUNITY THROUGH EQUITABLE PATHWAYS TO EDUCATION AND TRAINING. In addition, Scholarship America provides resources to students pursuing higher education and their career goals plus partners with and assists communities and organizations to bring resources to students pursuing higher education and their career goals. SCHOLARSHIP AMERICA HAS DISTRIBUTED MORE THAN $5.4 BILLION IN sCHOLARSHIP aSSISTANCE TO MORE THAN 3.1 MILLION STUDENTS SINCE 1958. SCHOLARSHIP AMERICA'S PROGRAMS ADVANCE EQUITY AND PROVIDE STUDENTS WITH FINANCIAL, CULTURAL AND SOCIAL SUPPORTS ALONG tHEIR ACADEMIC JOURNEY TO HELP tHEM PERSIST AND ATTAIN SUCCESS. PROGRAMS INCLUDE DOLLARS FOR SCHOLARS, eMERGENCY AID, THE DREAM AWARD SCHOLARSHIP PROGRAM, AND SCHOLARSHIP MANAGEMENT SERVICES. false false 223107560 215549959 14605160 EDUCATION ASSISTANCE: Scholarship America (Program Management) is the leading private education assistance service provider in the country, helping corporations, foundations and individuals design and administer scholarship and related educational assistance programs. 368682 347300 DOLLARS FOR SCHOLARS IS A NATIONAL NETWORK OF 438 COMMUNITY-BASED, VOLUNTEER- DRIVEN AFFILIATED ORGANIZATIONS THAT RAISE FUNDS AND PROVIDE SCHOLARSHIPS AND EDUCATIONAL SUPPORT TO LOCAL STUDENTS IN COMMUNITIES ACROSS THE COUNTRY. 21185 OTHER PROGRAM SERVICES INCLUDE THE FAMILIES OF FREEDOM SCHOLARSHIP PROGRAM AND OTHER RELATED EDUCATION PROGRAM RESEARCH, POLICY AND COMMUNITY ENGAGEMENT ACTIVITIES. 223497427 true true false false false false false false true true false false false true true true false false false true true true false true false false false true true false false false false false false false false true false false false false false false false false true X 3127 0 true 218 true false true CA false false false false false false false false false false X 20 20 false false false false false true false true true false true true true true true true true true true true false CA CO CT DC FL GA AL HI IL IN IA KS KY ME AK MD MA MI MN MS MT NH NJ NM NY NC ND OH OK OR PA AZ RI SC TN TX UT VA AR WA WV WI X RICHARD S GREENE CFO 9528307396 7900 INTERNATIONAL DR SUITE 500 MINNEAPOLIS MN 55425 HAZEL M MCNEILAGE Treasurer and Fin. & Inv. Committee Chair 5.0 X X 0 0 0 MICHAEL MANEY Chair of the Board of Trustees 5.0 X X 0 0 0 TINA LEE immediate Past CHAIR OF THE BOARD 3.0 X X 0 0 0 TREASA G BOWERS Secretary of the Board 5.0 X X 0 0 0 ALAIN KARAOGLAN TRUSTEE 3.0 X 0 0 0 ANGEL PEREZ TRUSTEE 3.0 X 0 0 0 AUTUMN MANNING TRUSTEE 3.0 X 0 0 0 BARBARA MCBEE HRT CHAIR PRO-TEM 3.0 X 0 0 0 daniel lee TRUSTEE 3.0 X 0 0 0 JAMES DLUGOS TRUSTEE 3.0 X 0 0 0 JEFFREY M SILVERMAN TRUSTEE 3.0 X 0 0 0 JOSEPH PALOMBO TRUSTEE 3.0 X 0 0 0 LUCINDA D ROBB Governance Committee Chair 5.0 X 0 0 0 M SALMAN RAVALA TRUSTEE 3.0 X 0 0 0 MARK P TURCHAN TRUSTEE 3.0 X 0 0 0 MUNEERA CARR Audit Committee Chair 5.0 X 0 0 0 RICHARD J SCHWAB TRUSTEE 3.0 X 0 0 0 SAMATA NARRA TRUSTEE 3.0 X 0 0 0 SANTIAGO MARQUEZ TRUSTEE 3.0 X 0 0 0 WILLIAM C YOUNG Development Committee Chair 5.0 X 0 0 0 MICHAEL NYLUND PRESIDENT AND CEO 40.0 X 312172 0 33941 RICHARD GREENE CHIEF FINANCIAL OFFICER 40.0 X 241455 0 39699 AARON NOTTESTAD Director, Software Engineering 40.0 X 188050 0 19507 ANDREA SMITH VICE PRESIDENT, DEVELOPMENT & MARKET 40.0 X 204478 0 18067 DONALD YU Chief Strategy Product Officer 40.0 X 223346 0 32959 JENNIFER MENKE VICE PRESIDENT, HUMAN RESOURCES 40.0 X 191396 0 32308 MICHAEL PECKENSCHNEIDER VICE PRESIDENT, INFORMATION TECH. 40.0 X 228518 0 9339 1589415 0 185820 12 false true false PELL INSURANCE PO BOX 30 221 WEST NASSAU ST PETER MN 56082 INSURANCE broker 170071 NEARFORM INC CORPORATION TRUST CENTER 1209 ORANGE ST WILMINGTON DE 19801 Technology Consultant 109250 CDW DIRECT PO BOX 75723 CHICAGO IL 606755723 TECHNOLOGY HARDWARE 107816 Parodi Consulting Inc 560 W 43RD ST APT5J NEW YORK NY 10036 Strategy Consultant 105378 Risk Strategies Company 404 Washington Avenue N Suite 209 MINNEAPOLIS MN 55401 Cyber Insurance Consultant/Broker 101928 8 625408 219556301 763239 220181709 MANAGEMENT FEES 541900 14605160 14605160 DOLLARS FOR SCHOLARS 541900 347300 347300 0 0 0 0 14952460 4862620 4862620 0 0 160821324 160458492 362832 0 362832 362832 17250 625408 189641 -172391 -172391 OTHER INCOME 541900 84110 84110 0 0 0 0 84110 240271340 14952460 0 5137171 207814989 207814989 7734970 7734970 634326 634326 10273482 4960133 3999236 1314113 296112 142762 115527 37823 1602829 760331 641060 201438 756560 346371 318423 91766 19372 19372 81210 81210 43538 43538 2038780 814879 1094283 129618 220138 32000 181677 6461 327164 193955 83531 49678 508556 5913 500416 2227 379704 132378 206213 41113 279685 26576 175048 78061 79499 48430 23759 7310 1191488 227632 950280 13576 267056 158890 82493 25673 MISCELLANEOUS 191503 97218 59622 34663 0 0 0 0 234740961 223497427 9210014 2033520 30664295 25294008 2578274 2140290 3232618 2832978 0 0 0 0 393210 425218 11482769 8551313 4428150 2931456 121668338 133724527 4669650 3471080 0 144307 656629 1483617 168435471 172303174 6100425 6593993 0 0 2412642 2249662 55255931 48181941 63768998 57025596 9369819 11469450 95296654 103808128 104666473 115277578 168435471 172303174 5530379 5080726 0 X false true X true false X 183567534 179336738 200386451 205865875 220181709 989338307 0 0 183567534 179336738 200386451 205865875 220181709 989338307 123500674 865837633 2046440 1688351 1815733 2511452 4862620 12924596 0 97626 127403 32484 72792 84110 414415 1002677318 70826592 0.8635 0.8788 X Schedule A, Part II, Line 10 EXPLANATION FOR OTHER INCOME: OTHER INCOME Schedule A, Part II, Line 10 Other Income DESCRIPTION - , COLUMN A - 97626.0, COLUMN B - 127403.0, COLUMN C - 32484.0, COLUMN D - 72792.0, COLUMN E - 84110.0, COLUMN F - 414415.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19780891 925 1931253 600132 -53813 21166750 22635496 1850 -2169298 580222 106935 19780891 22642622 475 1595362 698108 904855 22635496 20940667 53801 2189647 442218 99275 22642622 16927556 2089318 2623126 503887 195446 20940667 0.1117 0.6631 0.2252 false false 496623 496623 0 5044990 4784490 260500 5941156 3270200 2670956 2931456 SCHOLARSHIP PAYABLE 20695856 REFUNDABLE DEPOSITS 27114049 LEASE LIABILITY 372036 48181941 X 194784067 5080726 68100 189641 5338467 189445600 43538 50782202 50825740 240271340 184172962 68100 189641 257741 183915221 43538 50782202 50825740 234740961 Schedule D, Part XI, Line 2(d) FUNDRAISING EXPENSES INCLUDED IN NET REVENUE ON FORM 990 AND ON STATEMENT OF FUNCTIONAL EXPENSE IN THE AUDITED FINANCIAL STATEMENTS. Schedule D, Part XII, Line 4(b) SCHOLARSHIP CONTRIBUTIONS AND AWARDS OVER WHICH SCHOLARSHIP AMERICA DOES NOT HAVE VARIANCE POWER. Schedule D, Part V, Line 4 Intended uses of endowment funds Scholarships: Nearly all of Scholarship America's endowment funds are for scholarship programs as specified by the donors. The donor agreements outline any special award criteria concerning geographic location, school, course of study, etc., and whether or not the principal may be used for awards. Dollars for Scholars: Donors have also established small endowments which support operational expenses of the Dollars for Scholars program. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT SCHOLARSHIP AMERICA IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SCHOLARSHIP AMERICA IS ALSO EXEMPT FROM STATE INCOME TAXES. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. SCHOLARSHIP AMERICA FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. UNDER THIS GUIDANCE, SCHOLARSHIP AMERICA MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF SCHOLARSHIP AMERICA AND VARIOUS TAX POSITIONS RELATED TO POTENTIAL SOURCES OF UNRELATED BUSINESS INCOME. NO LIABILITY HAS BEEN RECOGNIZED BY SCHOLARSHIP AMERICA FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022. SCHOLARSHIP AMERICA'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 FUNDRAISING EXPENSES - 189641 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Scholarships without Variance Power - 50782202 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 FUNDRAISING EXPENSES - 189641 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements SCHOLARSHIPS WITHOUT VARIANCE POWER - 50782202 true Central America and the Caribbean Grantmaking SCHOLARSHIP AWARD 125800 East Asia and the Pacific Grantmaking SCHOLARSHIP AWARD 1082092 Europe (Including Iceland and Greenland) Grantmaking SCHOLARSHIP AWARD 1650982 Middle East and North Africa Grantmaking SCHOLARSHIP AWARD 210300 North America (Canada & Mexico only) Grantmaking SCHOLARSHIP AWARD 3350428 Russia and Neighboring States Grantmaking SCHOLARSHIP AWARD 68181 South America Grantmaking SCHOLARSHIP AWARD 497000 South Asia Grantmaking SCHOLARSHIP AWARD 583687 Sub-Saharan Africa Grantmaking SCHOLARSHIP AWARD 166500 Central America and the Caribbean Investments N/A 3471080 0 0 0 0 0 0 11206050 0 11206050 East Asia and the Pacific scholarship 16340 check or EFT North America (Canada & Mexico only) scholarship 9100 check or EFT North America (Canada & Mexico only) scholarship 45278 check or EFT North America (Canada & Mexico only) scholarship 59800 check or EFT North America (Canada & Mexico only) scholarship 7500 check or EFT North America (Canada & Mexico only) scholarship 6500 check or EFT North America (Canada & Mexico only) scholarship 7500 check or EFT North America (Canada & Mexico only) scholarship 30000 check or EFT North America (Canada & Mexico only) scholarship 7400 check or EFT North America (Canada & Mexico only) scholarship 18000 check or EFT North America (Canada & Mexico only) scholarship 41402 check or EFT North America (Canada & Mexico only) scholarship 8500 check or EFT North America (Canada & Mexico only) scholarship 7125 check or EFT North America (Canada & Mexico only) scholarship 11726 check or EFT North America (Canada & Mexico only) scholarship 12000 check or EFT North America (Canada & Mexico only) scholarship 10152 check or EFT North America (Canada & Mexico only) scholarship 7500 check or EFT North America (Canada & Mexico only) scholarship 83202 check or EFT North America (Canada & Mexico only) scholarship 122622 check or EFT North America (Canada & Mexico only) scholarship 16000 check or EFT North America (Canada & Mexico only) scholarship 15000 check or EFT North America (Canada & Mexico only) scholarship 15000 check or EFT North America (Canada & Mexico only) scholarship 16275 check or EFT North America (Canada & Mexico only) scholarship 102582 check or EFT North America (Canada & Mexico only) scholarship 13304 check or EFT North America (Canada & Mexico only) scholarship 9130 check or EFT North America (Canada & Mexico only) scholarship 17250 check or EFT North America (Canada & Mexico only) scholarship 5500 check or EFT North America (Canada & Mexico only) scholarship 28719 check or EFT North America (Canada & Mexico only) scholarship 5500 check or EFT North America (Canada & Mexico only) scholarship 12500 check or EFT North America (Canada & Mexico only) scholarship 31576 check or EFT North America (Canada & Mexico only) scholarship 5250 check or EFT North America (Canada & Mexico only) scholarship 7500 check or EFT North America (Canada & Mexico only) scholarship 12500 check or EFT North America (Canada & Mexico only) scholarship 44126 check or EFT North America (Canada & Mexico only) scholarship 26076 check or EFT North America (Canada & Mexico only) scholarship 5500 check or EFT North America (Canada & Mexico only) scholarship 9000 check or EFT North America (Canada & Mexico only) scholarship 15500 check or EFT North America (Canada & Mexico only) scholarship 54928 check or EFT North America (Canada & Mexico only) scholarship 144134 check or EFT North America (Canada & Mexico only) scholarship 9326 check or EFT North America (Canada & Mexico only) scholarship 91652 check or EFT North America (Canada & Mexico only) scholarship 78552 check or EFT North America (Canada & Mexico only) scholarship 7630 check or EFT North America (Canada & Mexico only) scholarship 29652 check or EFT North America (Canada & Mexico only) scholarship 32000 check or EFT North America (Canada & Mexico only) scholarship 13326 check or EFT North America (Canada & Mexico only) scholarship 46826 check or EFT North America (Canada & Mexico only) scholarship 8951 check or EFT North America (Canada & Mexico only) scholarship 105752 check or EFT North America (Canada & Mexico only) scholarship 19000 check or EFT North America (Canada & Mexico only) scholarship 10000 check or EFT North America (Canada & Mexico only) scholarship 5800 check or EFT North America (Canada & Mexico only) scholarship 159358 check or EFT North America (Canada & Mexico only) scholarship 36086 check or EFT North America (Canada & Mexico only) scholarship 267533 check or EFT North America (Canada & Mexico only) scholarship 37778 check or EFT North America (Canada & Mexico only) scholarship 16826 check or EFT North America (Canada & Mexico only) scholarship 6826 check or EFT North America (Canada & Mexico only) scholarship 97404 check or EFT North America (Canada & Mexico only) scholarship 59078 check or EFT North America (Canada & Mexico only) scholarship 11000 check or EFT North America (Canada & Mexico only) scholarship 69569 check or EFT East Asia and the Pacific scholarship 55794 check or EFT Europe (Including Iceland and Greenland) scholarship 7500 check or EFT Europe (Including Iceland and Greenland) scholarship 10000 check or EFT Europe (Including Iceland and Greenland) scholarship 7500 check or EFT Europe (Including Iceland and Greenland) scholarship 10615 check or EFT Europe (Including Iceland and Greenland) scholarship 10000 check or EFT Europe (Including Iceland and Greenland) scholarship 7500 check or EFT Europe (Including Iceland and Greenland) scholarship 5655 check or EFT 73 0 SCHOLARSHIP Central America and the Caribbean 29 120800 CHECK OR EFT 0 SCHOLARSHIP East Asia and the Pacific 326 1006958 CHECK OR EFT 0 SCHOLARSHIPS Europe (Including Iceland and Greenland) 504 1539657 CHECK OR EFT 0 SCHOLARSHIPS Middle East and North Africa 56 207300 CHECK OR EFT 0 SCHOLARSHIPS North America (Canada & Mexico only) 273 811381 CHECK OR EFT 0 SCHOLARSHIPS Russia and Neighboring States 26 68181 CHECK OR EFT 0 SCHOLARSHIPS South America 159 497000 CHECK OR EFT 0 SCHOLARSHIPS South Asia 166 566887 CHECK OR EFT 0 SCHOLARSHIPS Sub-Saharan Africa 27 166500 CHECK OR EFT 0 true false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds GRANTS OUTSIDE THE UNITED STATES ARE COMPETITIVELY AWARDED USING THE PROCESS DESCRIBED IN SCHEDULE I, PART I, LINE 2 (GRANTS IN THE UNITED STATES). IN ADDITION, FOR EACH STUDENT SCHOLARSHIP AMERICA OBTAINS A VERIFICATION OF ENROLLMENT. BEFORE PAYMENT, THE NAMES OF BENEFICIARIES ARE COMPARED TO THE TREASURY DEPARTMENT, OFFICE OF FOREIGN ASSETS CONTROL, SPECIALLY DESIGNATED NATIONALS LIST TO MAKE SURE THEY ARE NOT ON THAT LIST. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual,; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual Schedule F, Part III Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN -Accrual EAST ASIA AND THE PACIFIC -Accrual EUROPE (INCLUDING ICELAND AND GREENLAND) -Accrual MIDDLE EAST AND NORTH AFRICA -Accrual NORTH AMERICA (CANADA & MEXICO ONLY) -Accrual RUSSIA AND NEIGHBORING STATES -Accrual SOUTH AMERICA -Accrual SOUTH ASIA -Accrual SUB-SAHARAN AFRICA -Accrual NATL DREAMS to SUCCESS DINNER 622658 605408 17250 189641 PARTNER SUMMIT 20000 20000 0 0 642658 625408 17250 189641 189641 -172391 true SCHOLARSHIPS 75454 207814989 Schedule I, Part I, Line 2 SCHOLARSHIP AMERICA WAS FORMED TO ENCOURAGE CITIZEN SUPPORT OF HIGHER EDUCATION INCLUDING THE ADMINISTRATION OF SCHOLARSHIP PROGRAMS ON BEHALF OF PARTICIPATING CORPORATIONS, FOUNDATIONS, AND INDIVIDUALS. SCHOLARSHIP AMERICA'S GRANTS TO INDIVIDUALS FOR STUDY PURPOSES ARE MADE IN COMPLIANCE WITH PROCEDURES SET FORTH IN THE SCHOLARSHIP AMERICA AWARDS KIT ON FILE WITH THE IRS. IN ADMINISTERING A SCHOLARSHIP PROGRAM SCHOLARSHIP AMERICA IS AVAILABLE TO PERFORM THE FOLLOWING IN DETERIMINING THE RECIPIENTS: 1. PREPARE AND FURNISH APPLICATION FORMS (ELECTRONIC); 2. RECEIVE ALL APPLICATION MATERIALS DIRECTLY; 3. PROCESS AND EVALUATE ALL APPLICATIONS; 4. DETERMINE THE RECIPIENTS AND AMOUNTS TO BE AWARDED; 5. NOTIFY THE RECIPIENTS OF THEIR AWARD; 6. CONFIRM THE APPROPRIATE EMPLOYMENT RELATIONSHIP OR PROGRAM ELIGIBILITIES ARE MET; 7. CONFIRM ENROLLMENT IN A QUALIFIED EDUCATIONAL INSTITUTION; 8. MAKE PAYMENT OF THE AWARD; RECIPIENTS ARE DETERMINED BY SCHOLARSHIP AMERICA UTILIZING SELECTION CRITERIA BASED ON A DETAILED ANALYSIS OF THE FOLLOWING CANDIDATE INFORMATION: 1. SCHOLASTIC APTITUDE AS MEASURED BY PERFORMANCE ON A RECOGNIZED SCHOLASTIC APTITUDE TEST; 2. SCHOLASTIC PERFORMANCE MEASURED BY RANK IN CLASS OR GRADE POINT AVERAGE; 3. ADULT INDEPENDENT APPRAISAL; 4. WORK EXPERIENCE, INTEREST, ACTIVITIES, AND LEADERSHIP CONTRIBUTIONS; 5. FINANCIAL NEED MAY ALSO BE TAKEN INTO CONSIDERATION. X X X X X false false false false false false false false false MICHAEL NYLUND PRESIDENT AND CEO 311140 0 0 0 1032 0 8334 0 25607 0 346113 0 0 0 RICHARD GREENE CHIEF FINANCIAL OFFICER 235427 0 0 0 6028 0 7382 0 32317 0 281154 0 0 0 DONALD YU Chief Strategy Product Officer 223030 0 0 0 316 0 6941 0 26018 0 256305 0 0 0 MICHAEL PECKENSCHNEIDER VICE PRESIDENT, INFORMATION TECH. 227661 0 0 0 857 0 6830 0 2509 0 237857 0 0 0 JENNIFER MENKE VICE PRESIDENT, HUMAN RESOURCES 185988 0 0 0 5408 0 5911 0 26397 0 223704 0 0 0 ANDREA SMITH VICE PRESIDENT, DEVELOPMENT & MARKET 204212 0 0 0 266 0 6178 0 11889 0 222545 0 0 0 AARON NOTTESTAD Director, Software Engineering 187890 0 0 0 160 0 5495 0 14012 0 207557 0 0 0 X 4 763239 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN PART I, COLUMN (B). Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Scholarship America has an advisory group called the Honor Roll Trustees (HRT's). The HRT Group is comprised of former Board members who have been off the board for at least one year and were subsequently elected by the Board to join this advisory group. The HRT Group elects one of its members to serve a two year term on the Board. The group also serves an advisory role for the President and staff of Scholarship America. Form 990, Part VI, Line 11b Review of form 990 by governing body THE AUDIT COMMITTEE MEETS, REVIEWS, AND APPROVES A DRAFT OF THE FORM 990. THE RESULTS OF THEIR REVIEW ARE THEN SHARED FOR FULL BOARD APPROVAL BEFORE IT IS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY, ALL BOARD MEMBERS AND EMPLOYEES SIGN THE CONFLICT OF INTEREST DISCLOSURE FORM. CONTRACTS, RELATIONSHIPS AND TRANSACTIONS WHERE A POTENTIAL CONFLICT OF INTEREST EXISTS MAY BE AUTHORIZED IF THE FOLLOWING STANDARDS ARE ADHERED TO: A) ONLY INDIVIDUALS WHO DO NOT HAVE A POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO THE PROPOSED CONTRACT, RELATIONSHIP, OR TRANSACTION ARE AUTHORIZED TO APPROVE SUCH CONTRACT, RELATIONSHIP, OR TRANSACTION; B) THE COVERED PERSON WHO HAS THE POTENTIAL CONFLICT OF INTEREST SHALL NEITHER VOTE ON, NOR USE PERSONAL INFLUENCE WITH RESPECT TO, NOR PARTICIPATE IN (OTHER THAN TO PRESENT FACTUAL INFORMATION OR RESPOND TO QUESTIONS), THE DISCUSSIONS OR DELIBERATIONS RELATING TO SUCH CONTRACT, RELATIONSHIP, OR TRANSACTION AND, WHERE APPROVAL BY THE GOVERNANCE COMMITTEE IS REQUIRED, SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM; C) THE MATERIAL FACTS RELATING TO THE CONTRACT, RELATIONSHIP, OR TRANSACTION SHALL BE FULLY DISCLOSED TO THE GOVERNANCE COMMITTEE OR THE PRESIDENT/CEO, AS APPROPRIATE, AND THE GOVERNANCE COMMITTEE OR THE PRESIDENT SHALL OBTAIN AND RELY UPON APPROPRIATE DATA AS TO THE COMPARABILITY OF THE CONTRACT, RELATIONSHIP, OR TRANSACTION WITH APPROPRIATE EXTERNAL STANDARDS FOR CONTRACTS, TRANSACTIONS, OR RELATIONSHIPS INVOLVING FAIR MARKET VALUE AND ARM'S LENGTH BARGAINING; AND D) THE GOVERNANCE COMMITTEE OR THE PRESIDENT/CEO, AS APPROPRIATE, CONCURRENTLY WITH THE APPROVAL OF THE CONTRACT, RELATIONSHIP, OR TRANSACTION SHALL DOCUMENT THE BASIS FOR THE DETERMINATION REACHED BY NOTING: 1. THE TERMS OF THE CONTRACT, RELATIONSHIP, OR TRANSACTION AND THE DATE OF APPROVAL; 2. THE INDIVIDUALS PRESENT DURING DISCUSSION AND THOSE WHO VOTED; 3. COMPARABILITY DATA OBTAINED AND RELIED UPON; 4. ACTIONS TAKEN BY ANY COVERED PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO THE CONTRACT, RELATIONSHIP, OR TRANSACTION. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE COMPENSATION COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES WHO OBTAIN RESEARCH AND INFORMATION TO MAKE A RECOMMENDATION TO THE FULL BOARD FOR THE COMPENSATION OF THE PRESIDENT/CEO, OTHER OFFICERS, AND HIGHLY-COMPENSATED EMPLOYEES BASED ON A REVIEW OF APPROPRIATE COMPARABILITY DATA THAT DOCUMENTS COMPENSATION LEVELS AND BENEFITS FOR SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. TO APPROVE THE COMPENSATION FOR THE PRESIDENT/CEO, OTHER OFFICERS, AND OTHER HIGHLY-COMPENSATED EMPLOYEES, THE BOARD MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED, IN MINUTES OF THE MEETING DURING WHICH THE COMPENSATION WAS APPROVED. DOCUMENTATION WILL INCLUDE: A) A DESCRIPTION OF THE COMPENSATION AND BENEFITS AND THE DATE IT WAS APPROVED; B) THE MEMBERS OF THE BOARD WHO WERE PRESENT DURING THE DISCUSSION ABOUT COMPENSATION AND BENEFITS, AND THE RESULTS OF THE VOTE; C) A DESCRIPTION OF THE COMPARABILITY DATA RELIED UPON AND HOW THE DATA WAS OBTAINED; AND D) ANY ACTIONS TAKEN (SUCH AS ABSTAINING FROM DISCUSSION AND VOTE) WITH RESPECT TO CONSIDERATION OF THE COMPENSATION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE BOARD BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE DECISION ON THE COMPENSATION AND BENEFITS. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2022 FOR THE PRESIDENT/CEO, CFO, AND HIGHEST COMPENSATED EMPLOYEES FOR COMPENSATION PACKAGES FOR 2023. Form 990, Part VI, Line 19 Required documents available to the public THE ANNUAL REPORT, ANNUAL AUDIT REPORT, AND FORM 990 ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. THE ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT CURRENTLY AVAILABLE TO THE PUBLIC. PART VIII, STATEMENT OF REVENUE, LINE 1F, and PART IX, STATEMENT OF FUNCTIONAL EXPENSES, LINE 2: CONTRIBUTIONS RECEIVED AND SCHOLARSHIPS AWARDED INCLUDE AMOUNTS THAT SCHOLARSHIP AMERICA DOES NOT HAVE FINAL VARIANCE POWER OVER. THIS REPORTING IS CONSISTENT WITH PRIOR YEAR REPORTING. FORM 990, PART XII, LINE 2C: NEITHER THE OVERSIGHT PROCESS FOR THE AUDIT OR THE SELECTION PROCESS OF THE INDEPENDENT ACCOUNTANT CHANGED DURING THE TAX YEAR. Form 990, Part B Amended Return Part III Line 4a: After filing the return, it was discovered that Part III Program Expenses were incorrectly stated. The amendment corrects this inadvertent error.