BBB Wise Giving Report for
Scholarship America

BBB Wise Giving Report issued April 2010
BBB Wise Giving Report expires April 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Scholarship America
Address: 1550 American Boulevard East, Suite 155
  Minneapolis, MN 55425
Phone: 952-830-7300
800-279-2083
Web Address: www.scholarshipamerica.org
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BBB Wise Giving Alliance Comments

Formerly known as:Citizens' Scholarship Foundation of America

Year, State Incorporated: 1962, Minnesota
Affiliates: None
Stated Purpose: "to mobilize America through scholarships and educational support to make postsecondary education possible for all students."

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Evaluation Conclusions

               

Scholarship America meets the 20 Standards for Charity Accountability.
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Programs

               

Scholarship America is a national service organization which works to aid students in getting into and graduating from college. Scholarship America reports that the Dollars for Scholars program helps more than 1,100 communities raise local dollars to provide scholarships to local students. Scholarship management services helps 1,200 corporations, foundation and individuals give out scholarships around the world. Dreamkeepers Emergency Financial Assistance program helps community colleges keep low-income students from dropping out of school by providing emergency financial assistance. In fiscal year 2008, Scholarship America awarded $219 million in scholarships to more than 123,000 students through these programs.

For the fiscal year ended June 30, 2009, Scholarship America's program expenses were:

  
Scholarship awards (net) 102,987,775
Scholarship management services program 4,711,431
Dollars for Scholars 2,132,871
ScholarShop 60,977
Total Program Expenses: $109,893,054
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Governance

               

Chief Executive : Lauren Segal, President & CEO
Compensation*:
 Not available

Chair of the Board: Mim Schreck
Chair's Profession / Business Affiliation: Retired

Board Size: 16

Paid Staff Size: 142

*Executive Director Lauren Segal started March, 2010. The previous CEO received $270,121 in compensation between July 1, 2007 - June 30, 2008. Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. Compensation for Lauren Segal is not available at this time.
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Fund Raising

               

Method(s) Used:

Direct mail, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 2% of related contributions. (Related contributions, which totaled $91,948,866, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Scholarship America's audited financial statements for the fiscal year ended June 30, 2009.

Source of Funds  
Scholarship revenue (net) 85,481,750
Program management fees 9,339,573
Contributions and project grants 6,094,144
Other income 483,335
Dollars for Scholars program income 379,067
Contributions 357,276
ScholarShop program income 17,035
Endowment contributions 15,696
Investment (loss) -6,045,100
Total Income $96,122,776


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Uses of Funds as a % of Total Expenses

Programs: 94%  Fund Raising: 2%  Administrative: 4% 

Total income   $96,122,776
  Program expenses $109,893,054
  Fund raising expenses 1,921,630
  Administrative expenses 4,318,178
 
Total expenses   $116,132,862
Expenses in Excess of Income   (20,010,086)
Beginning net assets   151,960,381
Ending net assets   131,950,295
Total liabilities   41,542,361
Total assets   $173,492,656


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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