Scholarship America Inc, S-V Dollars For Scholars in Sesser, Illinois (IL)

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Scholarship America Inc, S-V Dollars For Scholars
Employer Identification Number (EIN)042296967
Name of OrganizationScholarship America Inc
Secondary NameS-V Dollars For Scholars
In Care of NameTracey Masters
Address1024 South Locust, Sesser, IL 62884
ActivitiesScholarships (other)
SubsectionEducational Organization
Ruling Date04/1962
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2009
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$172,322,872
Amount of Income$222,454,367
Form 990 Revenue Amount$152,262,512
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2009: $222,454,367
This organization: 

 $222,454,367
Other organizations performing similar types of work: 

 $299,534

Assets in 2009: $172,322,872
This organization: 

 $172,322,872
Other organizations performing similar types of work: 

 $1,135,383

Expenses in 2013: $163,586,442
This organization: 

 $163,586,442
Other organizations performing similar types of work: 

 $135,405

Income to expenses ratio in 2013: 1.4
This organization: 

 1.4
Other organizations performing similar types of work: 

 1.8

Expenses allocated to program services in 2007: 93.8%
This organization: 

 93.8%
Other organizations performing similar types of work: 

 82.4%

Employees paid over $100,000 in 2013: 7.9%
This organization: 

 7.9%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 91.3%
Scholarship America Inc, S-V Dollars For Scholars: 

 91.3%
Other organizations performing similar types of work: 

 74.1%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?YesYes
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10962811,061
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return171177
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?YesYes
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$749,630$858,251
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$86,484$75,280
Total number of individuals who received more than $100,000 of reportable compensation from the organization49
Total number of independent contractors who received more than $100,000 of compensation from the organization45
Statement of Revenue
201120122013
Total revenue$154,987,918$156,838,088$166,405,144
Contributions, Gifts, Grants and Other Similar Amounts$140,478,327$143,055,784$151,980,658
Program Service Revenue$9,199,532$9,361,822$9,281,082
900099$8,862,737$8,867,837
900099$492,309$413,245
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$3,687,960$3,352,273$2,890,246
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$1,650,559$1,086,881$2,286,686
Gross amount from sales of assets other than inventory (Securities / Other)$17,662,173 / $0$22,586,050 / $0$31,482,900 / $0
Less: cost or other basis and sales expenses (Securities / Other)$16,011,614 / $0$21,499,169 / $0$29,196,214 / $0
Gain or (loss) (Securities / Other)$1,650,559 / $0$1,086,881 / $0$2,286,686 / $0
Net income/loss from fundraising events$-28,460$-18,672$-33,528
Gross income from fundraising events$8,525$4,100$0
Less: direct expenses$36,985$22,772$33,528
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$0$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$162,637,168$160,435,831$163,586,442
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$146,749,712$147,189,867
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$2,033,176$4,099,732
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$857,812$886,134$853,412
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$6,363,244$5,831,640$6,370,894
Pension plan accruals and contributions$0$0
Other employee benefits$657,987$695,713
Payroll taxes$433,960$493,634$509,507
Fees for services (non-employees)
Management$0$1,066,835
Legal$74,874$196,644
Accounting$101,050$78,350
Lobbying$0$0
Professional fundraising services$79,875$162,750$0
Investment management fees$0$0
Other$889,390$0
Advertising and promotion$175,636$268,810
Office expenses$455,706$307,742
Information technology$0$0
Royalties$0$0
Occupancy$368,821$387,472
Travel$624,353$601,588
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$47,267$43,011
Payments to affiliates$0$0
Depreciation, depletion, and amortization$234,292$285,269
Insurance$103,700$118,530
Other expenses$200,981$197,309
Other expenses$248,315$246,130
Other expenses$96,413$69,627
Balance Sheet
201120122013
Total assets$176,046,357$187,985,505$188,908,618
Cash - non-interest-bearing$0$0
Savings and temporary cash investments$36,712,318$27,509,871
Pledges and grants receivable, net$2,650,448$2,255,062
Accounts receivable, net$2,607,208$2,761,546
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$237,727$199,259
Land, buildings, and equipment: cost or other basis$2,715,825$2,605,936
Investments - publicly traded securities$142,819,941$153,338,644
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$242,038$238,300
Total liabilities$40,461,136$52,688,501$50,706,502
Accounts payable and accrued expenses$875,186$837,140
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$1,596,939$1,465,574$1,329,998
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$50,347,741$48,539,364
Total net assets or fund balances$135,585,221$135,297,004$138,202,116
Unrestricted net assets$8,498,424$8,170,733
Temporarily restricted net assets$109,614,862$113,400,570
Permanently restricted net assets$17,183,718$16,630,813
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$735,796,327
Subtotal Support$735,796,327
Gifts, grants, contributions, and membership fees received$735,796,327
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$754,990,336
Public Support$735,796,327
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$19,194,009
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$46,612,037
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$105,745,707$179,508,155$165,221,859$91,371,529$99,969,235$114,518,651$110,632,118$107,101,530
Contributions, gifts, grants, and similar amounts received$97,153,213$170,554,614$157,454,352$81,163,646$86,678,901$98,713,282$95,116,812$89,375,699
Contributions to donor advised funds$0$0
Direct public support$94,696,713$170,554,614$157,454,352$81,163,646$86,678,901$98,713,282$95,116,812$89,375,699
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$2,456,500$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$6,217,326$6,761,200$7,425,550$7,185,370$8,351,220$9,017,706$8,949,885$9,720,754
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$2,192,408$2,119,879$0$4,491,602$0$0$0$0
Dividends and interest from securities$0$0$2,085,589$0$5,086,993$6,419,954$5,048,054$7,222,658
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$182,760$55,290$-920,049$-853,792$271,463$396,809$1,556,751$869,877
Gross amount from sales of assets other than inventory$3,783,641$11,733,992$291,146,654$115,214,479$21,491,155$48,689,939$10,370,829$11,205,114
Less: cost or other basis and sales expenses$3,600,881$11,678,702$292,066,703$116,068,271$21,219,692$48,293,130$8,814,078$10,335,237
Net income or (loss) from special events and activities$0$-76,691$-1,010,051$-615,297$-419,342$-29,100$-39,384$-87,458
Gross revenue$0$29,500$98,350$53,500$0$0$0$0
Less: direct expenses other than fundraising expenses$0$106,191$1,108,401$668,797$419,342$29,100$39,384$87,458
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$93,863$186,468$0$0$0$0$0
Total expenses$101,665,535$115,740,126$124,857,659$92,420,463$99,662,756$108,394,460$108,573,912$103,360,076
Program services$98,064,888$111,385,465$120,519,318$86,600,010$95,198,823$103,862,414$102,835,573$96,967,607
Management and general$2,427,821$2,768,268$3,103,189$3,519,392$2,935,072$3,276,491$4,349,690$4,755,266
Fundraising$1,172,826$1,586,393$1,235,152$2,301,061$1,528,861$1,255,555$1,388,649$1,637,203
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$29,394,073$92,110,099$133,366,642$134,724,219$141,011,907$142,380,586$154,148,816$151,960,381
Excess or (deficit) for the year$4,080,172$63,768,029$40,364,200$-1,048,934$306,479$6,124,191$2,058,206$3,741,454
Net assets or fund balances at beginning of year$24,526,050$29,394,073$92,110,099$133,366,642$134,724,219$141,011,907$142,380,586$154,148,816
Other changes in net assets or fund balances$787,851$-1,052,003$892,343$2,406,511$5,981,209$-4,755,512$9,710,024$-5,929,889
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$103,360,076$96,967,607$4,755,266$1,637,203
Grants paid from donor advised funds$0
Other grants and allocations$90,458,993
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$712,915$171,444$437,031$104,440
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$5,411,421$3,391,180$1,240,826$779,415
Pension plan contributions not included above$201,246$111,101$55,367$34,778
Employee benefits not included above$727,455$457,751$191,988$77,716
Payroll taxes$453,686$270,342$118,128$65,216
Professional fundraising fees$0$0$0$0
Accounting fees$133,944$0$133,944$0
Legal fees$233,869$47,818$160,691$25,360
Supplies$243,834$177,010$62,493$4,331
Telephone$126,717$74,826$26,092$25,799
Postage and shipping$273,617$250,668$18,424$4,525
Occupancy$622,122$238,740$290,973$92,409
Equipment rental and maintenance$0$0$0$0
Printing and publications$429,833$300,472$77,536$51,825
Travel$991,467$410,654$426,214$154,599
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$299,383$201,503$88,388$9,492
Other expenses not covered above$2,039,574$405,105$1,427,171$207,298
Balance Sheets
20002001200220032004200520062007
Total assets$47,136,648$110,823,367$156,435,497$164,953,533$174,215,238$176,377,879$194,363,549$192,823,075
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$19,922,224$42,229,603$117,218,820$37,568,273$19,328,003$23,953,307$31,338,725$33,547,932
Accounts receivable less allowance for doubtful accounts$2,230,039$2,775,062$2,688,579$2,367,855$2,772,419$2,688,590$3,011,270$2,941,225
Pledges receivable less allowance for doubtful accounts$1,968,140$4,433,586$4,378,833$1,999,915$828,406$790,508$914,293$903,353
Grants receivable$1,517,084$2,225,394$3,229,628$2,260,614$1,222,709$1,229,950$1,009,604$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$290,355$283,373$215,699$819,537$649,375$684,338$159,856$236,705
Investments - publicly-traded securities$154,327,452$151,013,448
Investments - other securities$16,009,641$53,843,643$24,153,294$115,603,750$145,406,080$143,240,376$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$460,267$489,758$202,206$220,947$229,924$252,335$269,551$242,525
Land, buildings, and equipment less accumulated depreciation$4,738,898$4,542,948$4,348,438$4,112,642$3,778,322$3,538,475$3,332,798$3,180,924
Other assets, including program-related investments$0$0$0$0$0$0$0$756,963
Total liabilities$17,742,575$18,713,268$23,068,855$30,229,314$33,203,331$33,997,293$40,214,733$40,862,694
Accounts payable and accrued expenses$8,599,507$1,135,816$738,883$1,049,398$962,985$922,818$806,583$871,590
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$2,538,553$2,462,961$2,383,726$4,101,095$3,714,156$2,122,597$2,034,349$1,953,066
Other liabilities$6,604,515$15,114,491$19,946,246$25,078,821$28,526,190$30,951,878$37,373,801$38,038,038
Total liabilities and net assets/fund balances$47,136,648$110,823,367$156,435,497$164,953,533$174,215,238$176,377,879$194,363,549$192,823,075
Total net assets or fund balances$29,394,073$92,110,099$133,366,642$134,724,219$141,011,907$142,380,586$154,148,816$151,960,381
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$105,745,707$179,508,155$165,221,859$91,371,529$99,969,235$114,518,651$110,632,118$107,101,530
Total revenue, gains, and other support per audited financial statements$106,533,558$122,280,584$115,094,917$94,467,262$106,369,786$109,792,239$120,381,526$101,259,099
Other expenses$787,851$128,150$2,035,131$3,095,733$6,400,551$-4,726,412$9,749,408$-5,929,889
Net unrealized gains on investments$787,851$0$892,343$2,406,511$5,981,209$-4,755,512$9,710,024$-5,929,889
Donated services and use of facilities$0$21,959$34,387$20,425$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$106,191$1,108,401$668,797$419,342$29,100$39,384$0
Other revenue$0$57,355,721$52,162,073$0$0$0$0$-87,458
Investment expenses$0$0$0$0$0$0$0$0
Other$0$57,355,721$52,162,073$0$0$0$0$-87,458
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$101,665,535$115,740,126$124,857,659$92,420,463$99,662,756$108,394,460$108,573,912$103,360,076
Total expenses and losses per audited financial statements$101,665,535$59,564,558$73,838,374$93,109,685$100,082,098$108,423,560$108,613,296$103,447,534
Other revenue$0$128,150$1,142,788$689,222$419,342$29,100$39,384$87,458
Donated services and use of facilities$0$21,959$34,387$20,425$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$106,191$1,108,401$668,797$419,342$29,100$39,384$87,458
Other expenses$0$56,303,718$52,162,073$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$56,303,718$52,162,073$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$261,100$9,021$0
40$168,938$10,440$0
40$149,122$11,431$0
40$93,538$9,325$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings19
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006146
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$8,005,077$9,720,754
Program service revenue
Program service revenue 1000000$000$0$9,318,457
Program service revenue 2000000$000$0$367,454
Program service revenue 3000000$000$0$34,843
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$7,222,658$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$869,877$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$-87,458$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$85,905$8,760$0
$86,530$6,684$0
$85,790$6,787$0
$87,250$3,786$0
$85,036$3,529$0
Total number of other employees paid over $50,00035
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$90,346,712$104,395,590$176,548,587$167,293,195$95,540,260$100,464,717$114,263,569$108,608,902
Gifts, grants, and contributions received$82,938,243$96,094,682$168,089,168$157,509,105$83,542,564$87,850,410$98,751,180$94,993,027
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$5,513,724$6,108,500$6,245,677$7,512,033$7,506,094$7,527,314$9,092,435$8,567,821
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,894,745$2,192,408$2,119,879$2,085,589$4,491,602$5,086,993$6,419,954$5,048,054
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$93,863$186,468$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Scholarship America Inc, S-V Dollars For Scholars1024 South Locust, Sesser, IL 62884IL1962-04$222,454,367
2Illinois Masonic Charities Fund2866 Via Verde St, Springfield, IL 62703-4388IL1966-06$173,802,688
3National Merit Scholarship Corporation1560 Sherman Ave Ste 200, Evanston, IL 60201-4816IL1957-01$132,652,299
4Evans Scholars Foundation1 Briar Rd, Golf, IL 60029-2000IL1976-09$37,708,563
5Louise Orr Scott Fdn 680100410010 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1970-07$5,254,464
6Western Illinois Regional Council Community Action Agency223 S Randolph St, Macomb, IL 61455-2209IL1994-06$4,776,975
7W W Wannamaker Citadel Star Of The West MaPO BOX 2904, Wilson, NC 27894-2904NC1953-02$2,852,405
8Donald S Pichitino Educational Tr10 S Dearborn, Chicago, IL 60603-2300IL1998-08$2,437,936
9Midwestern University Foundation555 31st St, Downers Grove, IL 60515-1235IL1994-07$1,341,555
10Leiby S Hall Scholarship Tr, Alsup Harold E TteePO BOX 1488, Decatur, IL 62525-1488IL1999-04$1,008,419
11Wilmington School District 209-U Foundation For Excellence209u Wildcat Ct, Wilmington, IL 60481-4500IL2000-02$81,508
12Westmont Chamber Of Commerce Educational Foundation1 S Cass Ave Ste 101, Westmont, IL 60559-1895IL2009-07$15,151
13Wiet Family Foundation168 Foxborough Pl, Burr Ridge, IL 60527-6481IL2002-05$11,016
14Free The Children Trust745 Concord Lane, Barrington, IL 60010IL1990-03$0
15Illinois Life Underwriters Foundation, Naifa Illinois Foundation60 Adloff Lane, Springfield, IL 62703IL1999-12$0
16Top Ladies Of Distinction Inc, East St Louis8917 Woestboul St, E Saint Louis, IL 62203-2219IL$0
17Top Ladies Of Distinction Inc, Evergreen Park20649 Promethian Way, Olympia Flds, IL 60461-1517IL1974-11$0
18Top Ladies Of Distinction Inc, Midway3701 W 79th Pl, Chicago, IL 60652-1833IL1974-11$0
19Top Ladies Of Distinction Inc, West Suburban Chicago4726 Mckinley Ave, Lisle, IL 60532-1733IL1974-11$0
20Westside 40 Plus Inc303 Desplaines Ave, Forest Park, IL 60130IL2001-04$0
Number of organizations performing similar types of work
Alaska3
Alabama12
Arkansas12
Arizona19
California92
Colorado3
Connecticut3
District of Columbia7
Delaware2
Florida9
Georgia9
Hawaii3
Iowa8
Idaho1
Illinois28
Indiana7
Kentucky4
Louisiana4
Massachusetts15
Maryland8
Michigan3
Minnesota27
Missouri8
Mississippi3
Montana1
North Carolina16
North Dakota2
Nebraska2
New Hampshire2
New Jersey12
New Mexico1
Nevada1
New York16
Ohio17
Oklahoma3
Oregon1
Pennsylvania16
Rhode Island1
South Carolina5
South Dakota2
Tennessee5
Texas37
Utah1
Virginia14
Vermont1
Washington5
Wisconsin12
Wyoming3
International3
Total469
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
CentralScholarship America Inc, S-V Dollars For Scholars1024 South Locust, Sesser, IL 62884IL1962-04$222,454,367
SubordinateScholarship America Inc, Group Return7900 International Dr Ste 500, Minneapolis, MN 55425-2561MN1962-04$41,972,059
SubordinateScholarship America Inc, Staples & Motley Dollars For Schola11746 251st Ave, Staples, MN 56479-3084MN1962-04$132,328
SubordinateScholarship America Inc, Vestal Dollars For ScholarsOne Scholarship Way, St Peter, MN 56082MN1962-04$73,809
SubordinateScholarship America Inc, Mount Baker Scholarship Fndtn1 Scholarship Way, St Peter, MN 56082-1693MN1962-04$31,152
SubordinateTri-State Area Tuition Mission Foundation, Tri-State Area Csf517 Broadway St Ste 300, E Liverpool, OH 43920-3167OH1967-02$2,401,546
SubordinateScholarship America Inc, Newcomerstown Scholarhip Foundation830 W State St, Newcomerstown, OH 43832-1329OH1967-02$2,068,747
SubordinateScholarship America Inc, Pipestone Area Dollars For ScholarsPO BOX 707, Pipestone, MN 56164-0707MN1967-02$1,655,338
SubordinateScholarship America Inc, Denver Dollars For ScholarsPO BOX 62, Denver, IA 50622-0062IA1962-04$1,481,736
SubordinateScholarship America Inc, Beaver Dam Scholarship Foundation I1 Scholarship Way, St Peter, MN 56082-1693MN$1,387,429
SubordinateScholarship America Inc, Polson Dollars For ScholarsPO BOX 562, Polson, MT 59860MT1962-04$278,526
SubordinateScholarship America IncP O Box 243, Hines, OR 97738OR1962-04$174,224
SubordinateScholarship America Inc, Marblehead Dollars For Scholars IncPO BOX 4, Marblehead, MA 01945-0004MA1962-04$152,441
SubordinateScholarship America Inc, Coba Dollars For ScholarsPO BOX 297, St Peter, MN 56082-0297MN1962-04$134,965
SubordinateScholarship America Inc, Lindsay Dollars For Scholars Foundation1849 E Tulare Rd, Lindsay, CA 93247CA1962-04$131,846
SubordinateScholarship America Inc, Solvay Dollars For Scholars221 Walton St Ste 102, Syracuse, NY 13202-1226NY1962-04$114,336
SubordinateScholarship America Inc, Oelwein Dollars For Scholars331 7th Avenue Se, Oelwein, IA 50662IA1962-04$101,658
SubordinateScholarship America Inc, Bellingham Dollars For ScholarsPO BOX 297, St Peter, MN 56082-0297MN1962-04$98,919
SubordinateScholarship America Inc, Guernsey County1 Scholarship Way, St Peter, MN 56082-1693MN1962-04$95,455
SubordinateScholarship America Inc, South Tama County Scholarship FdtnPO BOX 368, Toledo, IA 52342-0368IA1962-04$94,534
Number of affiliated organizations
Alaska1
Alabama1
Arizona5
California28
Colorado1
Connecticut16
District of Columbia2
Florida5
Iowa66
Idaho3
Illinois18
Indiana63
Kansas1
Kentucky1
Louisiana1
Massachusetts40
Maryland4
Maine3
Michigan3
Minnesota954
Missouri1
Mississippi1
Montana5
North Carolina1
North Dakota80
Nebraska1
New Hampshire11
New Jersey1
Nevada1
New York84
Ohio5
Oregon9
Pennsylvania10
Rhode Island7
South Carolina1
South Dakota2
Texas3
Vermont3
Washington49
Wisconsin10
West Virginia1
Total1,502

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