2025-08-27T08:37:18-05:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2024-01-01 042296967 SCHOLARSHIP AMERICA INC SCHO 9528307396 7900 INTERNATIONAL DR 500 MINNEAPOLIS MN 55425 RICHARD GREENE CFO 9528307396 2025-08-22 1 1 KAREN A GRIES P00078514 6128764500 2025-08-22 2024 2025-03-06 01:10:19Z MICHAEL NYLUND 7900 INTERNATIONAL DR 500 MINNEAPOLIS MN 55425 441677715 0 X WWW.SCHOLARSHIPAMERICA.ORG X 1961 MA ELIMINATE BARRIERS TO EDUCATIONAL SUCCESS SO THAT ANY STUDENT CAN PURSUE THEIR DREAM. 14 14 236 9500 0 0 220181709 236962745 14952460 15480096 5225452 7440379 -88281 -22974 240271340 259860246 215549959 220776739 0 0 13563309 14674148 0 0 2106295 5627693 7854536 234740961 243305423 5530379 16554823 172303174 194413585 57025596 60114471 115277578 134299114 X SEE SCHEDULE OSCHOLARSHIP AMERICA IS A NATIONAL EDUCATION SERVICE ORGANIZATION. . WE'RE COMMITTED TO CREATING A WORLD WHERE EVERY STUDENT CAN ACCESS THE RESOURCES THEY NEED TO LEARN, GROW, AND SUCCEED. OUR EXPERT APPROACH AND FOCUS ON STUDENTS FACING FINANCIAL CHALLENGES HELP BREAK DOWN BARRIERS AND OPEN DOORS TO EDUCATION. SCHOLARSHIP AMERICA HAS DISTRIBUTED MORE THAN $5.7 BILLION IN SCHOLARSHIP ASSISTANCE TO MORE THAN 3.2 MILLION STUDENTS SINCE 1958. PROGRAMS INCLUDE DOLLARS FOR SCHOLARS, EMERGENCY AID, THE DREAM AWARD SCHOLARSHIP PROGRAM, AND SCHOLARSHIP MANAGEMENT SERVICES. 0 0 229439352 220776739 15169696 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. 365757 310400 DOLLARS FOR SCHOLARS IS A NATIONAL NETWORK OF 434 COMMUNITY-BASED, VOLUNTEER-DRIVEN AFFILIATED ORGANIZATIONS THAT RAISE FUNDS AND PROVIDE SCHOLARSHIPS AND EDUCATIONAL SUPPORT TO LOCAL STUDENTS IN COMMUNITIES ACROSS THE COUNTRY. 229805109 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 1 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 3788 0 1 236 1 0 1 CA 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT DC FL GA HI IL IN IA KS KY ME MD MA MI MN MS MT NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI X X RICHARD S GREENE CFO 9528307396 7900 INTERNATIONAL DR SUITE 500 MINNEAPOLIS MN 55425 MICHAEL MANEY CHAIR OF THE BOARD OF TRUSTEES 5.00 X X 0 0 0 TREASA BOWERS SECRETARY COMPENSATION COMMITTEE CHAIR 5.00 X 0 0 0 MUNEERA CARR AUDIT COMMITTEE CHAIR 5.00 X 0 0 0 HAZEL MCNEILAGE TREASURER, FINANCE & INVESTMENT COMMITTEE CHAIR 5.00 X X 0 0 0 JIM DLUGOS GOVERNANCE COMMITTEE CHAIR 5.00 X 0 0 0 SALMAN RAVALA GROWTH COMMITTEE CHAIR 5.00 X 0 0 0 BARBARA MCBEE HRT CHAIR PRO TEM 3.00 X 0 0 0 TINA LEE PAST CHAIR 3.00 X X 0 0 0 ALAIN KARAOGLAN TRUSTEE 3.00 X 0 0 0 ANGEL PEREZ TRUSTEE 3.00 X 0 0 0 AUTUMN MANNING TRUSTEE 3.00 X 0 0 0 BILL YOUNG TRUSTEE 3.00 X 0 0 0 DANIEL LEE TRUSTEE 3.00 X 0 0 0 DICK SCHWAB TRUSTEE 3.00 X 0 0 0 JOE PALOMBO TRUSTEE 3.00 X 0 0 0 LUCINDA ROBB TRUSTEE 3.00 X 0 0 0 SAMATA NARRA TRUSTEE 3.00 X 0 0 0 SANTIAGO MARQUEZ TRUSTEE 3.00 X 0 0 0 MICHAEL NYLUND PRESIDENT AND CEO 40.00 X 330541 0 33895 RICHARD GREENE CHIEF FINANCIAL OFFICER 40.00 X 262417 0 47856 ABIGAIL SELDIN CHIEF GROWTH OFFICER 40.00 X 245632 0 11686 JENNIFER MENKE VICE PRESIDENT, HUMAN RESOURCES 40.00 X 207879 0 30561 KIMBERLY HANSON VICE PRESIDENT, PARTNER SOLUTIONS 40.00 X 196552 0 27454 JONELL SANCHEZ CHIEF PRODUCT AND TECHNOLOGY OFFICER 40.00 X 191348 0 7548 NICHOLAS LEONARD MASON GENERAL COUNSEL 40.00 X 149569 0 28064 1583938 0 187064 20 0 1 0 3CLOUD LLC 3025 HIGHLAND PARKWAY SUITE 525 DOWNERS GROVE IL 60515 TECHNOLOGY CONSULTANT 783841 CDW DIRECT LLC PO BOX 75723 CHICAGO IL 60675 TECHNOLOGY HARDWARE 371257 BEAM INC 44 COURT ST 1217-1061 BROOKLYN NY 11201 TECHNOLOGY SAAS PROVIDER 307176 INTUITIVE TECHNOLOGY GROUP INC 4530 W 77TH ST SUITE 255 EDIDNA MN 55435 STAFF AUGMENTATION 298097 LETTER B LLC 313 LINDEN LANE TIFFIN IA 52340 TECHNOLOGY CONSULTANT/DEVELOPMENT 270310 12 X 85000 236877745 1554272 236962745 MANAGEMENT FEES 541900 15169696 15169696 DOLLARS FOR SCHOLARS 541900 310400 310400 15480096 6150711 6150711 183015575 181725907 1289668 1289668 1289668 0 85000 91562 -91562 -91562 OTHER INCOME 541900 68588 68588 68588 259860246 15480096 0 7417405 X 211470299 211470299 9306440 9306440 674709 674709 11136691 5338852 4561069 1236770 295259 142127 120208 32924 1750956 826435 733073 191448 816533 371652 358786 86095 41908 41908 82000 82000 52897 52897 3966075 1466768 2181202 318105 341207 50632 287279 3296 353413 211012 116864 25537 645299 6045 633988 5266 353776 118429 197615 37732 243005 22546 136095 84364 60730 35007 20378 5345 1061212 13342 1044408 3462 282059 167706 91885 22468 MISCELLANEOUS 370955 257817 59655 53483 243305423 229805109 11394019 2106295 25294008 30402232 2140290 1113443 2832978 2703330 425218 870534 11682580 9473064 2931456 2209516 133724527 152924422 3471080 2800749 1483617 1389359 172303174 194413585 6593993 7066601 2249662 0 48181941 53047870 57025596 60114471 X 11469450 13308195 103808128 120990919 115277578 134299114 172303174 194413585 16554823 2466713 0 X X 0 1 X 1 0 X 179336738 200386451 205865875 220181709 236962745 1042733518 179336738 200386451 205865875 220181709 236962745 1042733518 156602368 886131150 1688351 1815733 2511452 4862620 6150711 17028867 127403 32484 72792 84110 68588 385377 1060147762 72604232 0.83590 0.86350 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21166750 234935 1660252 700351 348462 22013124 19780891 925 1931253 600132 -53813 21166750 22635496 1850 -2169298 580222 106935 19780891 22642622 475 1595362 698108 904855 22635496 20940667 53801 2189647 442218 99275 22642622 0.11300 0.64240 0.24460 0 0 496623 496623 0 5140851 4818000 322851 6045106 4158441 1886665 2209516 LEASE LIABILITY 278340 SCHOLARSHIP PAYABLE 25487102 REFUNDABLE DEPOSITS 27282428 53047870 X 213221276 2466713 91562 2558275 210663001 52897 49144348 49197245 259860246 194199740 91562 91562 194108178 52897 49144348 49197245 243305423 PART V, LINE 4: 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. PART X, LINE 2: 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, 2024 AND 2023. SCHOLARSHIP AMERICA'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 91,562. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS WITHOUT VARIANCE POWER 49,144,348. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 91,562. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS WITHOUT VARIANCE POWER 49,144,348. PART XI, LINE 2D AND PART XII, LINE 2D: FUNDRAISING EXPENSES INCLUDED IN NET REVENUE ON FORM 990 AND ON STATEMENT OF FUNCTIONAL EXPENSE IN THE AUDITED FINANCIAL STATEMENTS. PART XI, LINE 4B AND PART XII, LINE 4B: SCHOLARSHIP CONTRIBUTIONS AND AWARDS OVER WHICH SCHOLARSHIP AMERICA DOES NOT HAVE VARIANCE POWER. 0 CENTRAL AMERICA/CARIBBEAN 0 0 GRANTMAKING SCHOLARSHIP AWARD 132900 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING SCHOLARSHIP AWARD 1406464 EUROPE 0 0 GRANTMAKING SCHOLARSHIP AWARD 1814762 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 779987 NORTH AMERICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 2854402 RUSSIA/INDEPENDENT STATES 0 0 GRANTMAKING SCHOLARSHIP AWARD 987350 SOUTH AMERICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 796957 SOUTH ASIA 0 0 GRANTMAKING SCHOLARSHIP AWARD 430118 SUB-SAHARAN AFRICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 103500 CENTRAL AMERICA/CARIBBEAN 0 0 INVESTMENTS 2800749 0 0 0 0 0 0 9202940 2904249 12107189 EAST ASIA AND THE PACIFIC SCHOLARSHIP 11340 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 22500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 35300 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 61650 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 21000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 27500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 15500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 39000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 58750 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7158 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7250 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 115600 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 106200 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 13275 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 119300 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9326 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 18000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 38949 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 22000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 36334 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 68025 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 25250 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 16500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 72026 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 153958 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 85500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 97150 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 19500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 41500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7250 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 13500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 88950 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 16500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11800 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 188100 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 30500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 240426 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 57600 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 19250 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10326 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 77300 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 35400 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 77747 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 15000 CHECK OR EFT 0 EAST ASIA AND THE PACIFIC SCHOLARSHIP 64794 CHECK OR EFT 0 EUROPE SCHOLARSHIP 5800 CHECK OR EFT 0 EUROPE SCHOLARSHIP 9889 CHECK OR EFT 0 EUROPE SCHOLARSHIP 9500 CHECK OR EFT 0 ISRAEL SCHOLARSHIP 13000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5250 CHECK OR EFT 0 EUROPE SCHOLARSHIP 10000 CHECK OR EFT 0 EUROPE SCHOLARSHIP 5500 CHECK OR EFT 0 EUROPE SCHOLARSHIP 22143 CHECK OR EFT 0 169 0 SCHOLARSHIPS CENT. AMERICA/CARIBBEAN 37 128900 CHECK OR ET SCHOLARSHIPS EAST ASIA/PACIFIC 402 1318630 CHECK OR ET SCHOLARSHIPS EUROPE/ICELAND/GREENLAND 545 1723680 CHECK OR ET SCHOLARSHIPS MIDDLE EAST/NORTH AFRICA 214 766987 CHECK OR ET SCHOLARSHIPS NORTH AMERICA 78 173652 CHECK OR ET SCHOLARSHIPS RUSSIA/NEWLY IND. STATES 351 987350 CHECK OR ET SCHOLARSHIPS SOUTH AMERICA 219 796957 CHECK OR ET SCHOLARSHIPS SOUTH ASIA 142 430118 CHECK OR ET SCHOLARSHIPS SUB-SAHARAN AFRICA 30 103500 CHECK OR ET 1 0 0 0 0 0 PART I, LINE 2: 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. PART I, LINE 3: ACCRUAL METHOD PART II, LINE 2: PAYMENTS TO ORGANIZATIONS OUTSIDE THE UNITED STATES ARE PRIMARILY TO COLLEGES AND UNIVERSITIES. THESE PAYMENTS ULTIMATELY REPRESENT GRANTS TO INDIVIDUAL STUDENTS AWARDED AT THE DISCRETION OF SCHOLARSHIP AMERICA. WHILE SCHOLARSHIP AMERICA KNOWS THE ORGANIZATIONS RECEIVING PAYMENT ARE NOT ON THE OFAC'S SDN LIST, WE ARE UNCERTAIN CONCERNING THE ORGANIZATIONS' CHARITY AND TAX EXEMPT STATUS. BASED ON ALL PUBLIC INFORMATION AVAILABLE, ALL ORGANIZATIONS RECEIVING GRANT PAYMENTS FROM SCHOLARSHIP AMERICA APPEAR TO BE INSTITUTES OF HIGHER EDUCATION CONSISTENT WITH SCHOLARSHIP AMERICA'S EXEMPT PURPOSE. NATIONAL PROJECT 5820 GALA 2024 63500 63500 51353 PARTNER SUMMIT 21500 21500 1 0 0 40209 85000 85000 91562 91562 -91562 1 SCHOLARSHIPS 58587 211470299 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 DETERMINING 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 0 0 0 0 0 0 0 0 0 MICHAEL NYLUND PRESIDENT AND CEO 329509 0 1032 0 0 0 9170 0 24725 0 364436 0 0 0 RICHARD GREENE CHIEF FINANCIAL OFFICER 255728 0 6689 0 0 0 7829 0 40027 0 310273 0 0 0 ABIGAIL SELDIN CHIEF GROWTH OFFICER 245416 0 216 0 0 0 5625 0 6061 0 257318 0 0 0 JENNIFER MENKE VICE PRESIDENT, HUMAN RESOURCES 202439 0 5440 0 0 0 6270 0 24291 0 238440 0 0 0 KIMBERLY HANSON VICE PRESIDENT, PARTNER SOLUTIONS 195853 0 699 0 0 0 5880 0 21574 0 224006 0 0 0 JONELL SANCHEZ CHIEF PRODUCT AND TECHNOLOGY OFFICER 190944 0 404 0 0 0 4616 0 2932 0 198896 0 0 0 NICHOLAS LEONARD MASON GENERAL COUNSEL 149294 0 275 0 0 0 4637 0 23427 0 177633 0 0 0 X 4 1554272 MARKET VALUE 0 0 1 0 PART I, COLUMN (B): SECURITIES- PUBLICLY TRADED- THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 7A 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, SECTION B, LINE 11B 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, SECTION B, LINE 12C 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, SECTION B, LINE 15 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 2023 FOR THE PRESIDENT/CEO, CFO, AND HIGHEST COMPENSATED EMPLOYEES FOR COMPENSATION PACKAGES FOR 2024. FORM 990, PART VI, SECTION C, LINE 19 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: 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. 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.