Scholarships & Grants

501(c)(3) charity; gifts are tax-deductible.
61¢ of each $1 spent went to programs.
$120K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.0M a year · 27% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$120K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
6 mo
of spending, in cash
Plus $36.1M in investments, Pt X · Ln 11–13
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $20K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$413K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.1M
+52% vs prior year
Spent
$3.1M
To programs
61%
Net assets
$37.8M
By yearFY2020–FY2024
Revenue
$5.1M
FY2024▲ +52%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$3.2M
FY2022$5.0M
FY2023$3.3M
FY2024$5.1M
Expenses
$3.1M
FY2024▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.1M
FY2021$2.3M
FY2022$3.9M
FY2023$2.3M
FY2024$3.1M
Net assets
$37.8M
FY2024▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2020$28.4M
FY2021$32.2M
FY2022$28.6M
FY2023$32.5M
FY2024$37.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1981.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $1.9M Management & general 25% · $764K Fundraising 14% · $423K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

25 people listed on the 990; $120K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director of Operations
$120,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Whitney Jackson’s $120K as Director of Operations is at the 45th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides scholarships and grants to students and communities, plus leadership development support.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2024
01

The foundation provides scholarships to undergraduate and graduate students and grants, donations and leadership development support to communities

$1.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$20K
Grants paid · 64 grants · $2.5M · 2023–2024
Bvm Capacity Building InstituteFY2024$100,000
The Memorial Foundation (mlk Monument)FY2024$100,000
NAACP Legal Defense and Educational Fund INCFY2024$100,000
Jazz at Lincoln CenterFY2024$100,000
International African American MuseumFY2024$100,000
National Pan-Hellenic CouncilFY2024$50,000
Ron Brown Scholar FundFY2024$50,000
Jackson Minton Scholarship ProgramFY2024$50,000
Flint Freedom SchoolsFY2024$50,000
Base 11FY2024$50,000
The History MakersFY2024$40,000
Talledega CollegeFY2024$40,000
Prom Plus NycFY2024$40,000
Charles H Wright MuseumFY2024$40,000
The Harlem School of the Arts INCFY2024$35,000
Mke FellowsFY2024$30,000
Durham Colored Library INCFY2024$30,000
Climb USAFY2024$30,000
See all 64 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.1M
Ln 12
Gifts and grantsLn 1h$2.8M
Other incomeLn 4–11$1.4M
Investment incomeLn 3$862K
Money outPt IX
$3.1M
Ln 25
Programscol B$1.9M
Managementcol C$764K
Fundraisingcol D$423K
Owns and owesPt X
$37.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$38.2M
LiabilitiesLn 26$413K
PeoplePt VI, VII
25
listed · VII A
PaidVII A1
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$862K
Other incomeLn 4–11$1.4M
Total revenueLn 12$5.1M
Assets in detailPt X, end of year
CashLn 1$1.4M
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$36.1M
Total assetsLn 16$38.2M
LiabilitiesLn 26$413K
Net assetsLn 32$37.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$987K$1.4M
InvestmentsLn 11–13$24.5M$36.1M
Total assetsLn 16$33.4M$38.2M
LiabilitiesLn 26$833K$413K
Net assetsLn 32$32.5M$37.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.8M$1.8M
Other salaries and wagesLn 7$199K$0$199K$0
Other employee benefitsLn 9$27K$0$27K$0
Payroll taxesLn 10$14K$0$14K$0
Legal feesLn 11b$10K$0$10K$0
Accounting feesLn 11c$67K$0$67K$0
Investment management feesLn 11f$139K$0$139K$0
Other fees for servicesLn 11g$54K$0$54K$0
Office expensesLn 13$59K$0$59K$0
OccupancyLn 16$75K$0$75K$0
TravelLn 17$21K$19K$2K$0
Conferences, conventions and meetingsLn 19$48K$48K$0$0
InsuranceLn 23$3K$0$3K$0
Other expenses (24a–d)Ln 24$528K$0$104K$423K
All other expensesLn 24e$9K$0$9K$0
Total functional expensesLn 25$3.1M$1.9M$764K$423K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $5.1M$3.1M$2.0M$37.8M 990 PDF
FY2023 $3.3M$2.3M$1.1M$32.5M 990 PDF
FY2022 $5.0M$3.9M$1.1M$28.6M 990 PDF
FY2021 $3.2M$2.3M$902K$32.2M 990 PDF
FY2020 $2.2M$2.1M$69K$28.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $5,058,934 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,432,556$2,841,945
I-9 Program service revenue$0
I-10 Investment incomePrior year $902,589$861,601
I-11 Other revenue$1,355,388
I-12 Total revenuePrior year $3,335,145$5,058,934
I-13 Grants and similar amounts paidPrior year $1,236,650$1,811,700
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $82,193$239,522
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $954,054$1,015,008
I-18 Total expensesPrior year $2,272,897$3,066,230
I-19 Revenue less expensesPrior year $1,062,248$1,992,704
Part VI · Governance 24 of 24 board members independent, 1 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $5,058,934 across 6 lines filed
VIII-1b Membership dues$268,650
VIII-1f All other contributions, gifts and grants$2,573,295
VIII-1h Total contributions, gifts and grants$2,841,945
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$861,601
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $1,355,388$1,355,388
VIII-12 Total revenueRelated to mission $861,601 · Unrelated business $0 · Excluded from tax $1,355,388$5,058,934
Part IX · Statement of functional expenses $3,066,230 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $1,811,700$1,811,700
IX-7 Other salaries and wagesPrograms $0 · Management $198,602 · Fundraising $0$198,602
IX-9 Other employee benefitsPrograms $0 · Management $27,206 · Fundraising $0$27,206
IX-10 Payroll taxesPrograms $0 · Management $13,714 · Fundraising $0$13,714
IX-11b Legal feesPrograms $0 · Management $10,313 · Fundraising $0$10,313
IX-11c Accounting feesPrograms $0 · Management $67,175 · Fundraising $0$67,175
IX-11f Investment management feesPrograms $0 · Management $139,209 · Fundraising $0$139,209
IX-11g Other fees for servicesPrograms $0 · Management $54,461 · Fundraising $0$54,461
IX-13 Office expensesPrograms $0 · Management $59,197 · Fundraising $0$59,197
IX-16 OccupancyPrograms $0 · Management $75,000 · Fundraising $0$75,000
IX-17 TravelPrograms $18,826 · Management $2,056 · Fundraising $0$20,882
IX-19 Conferences, conventions and meetingsPrograms $48,280 · Management $0 · Fundraising $0$48,280
IX-23 InsurancePrograms $0 · Management $3,426 · Fundraising $0$3,426
IX-24 Other expenses (24a–d)Programs $0 · Management $104,234 · Fundraising $423,384$527,618
IX-24e All other expensesPrograms $0 · Management $9,447 · Fundraising $0$9,447
IX-25 Total functional expensesPrograms $1,878,806 · Management $764,040 · Fundraising $423,384$3,066,230
Part X · Balance sheet $38,237,800 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $987,391$1,394,510
X-3 Pledges and grants receivable$5,400
X-8 Inventories for sale or use$742,435
X-11 Publicly traded securitiesStart of year $24,483,857$36,095,455
X-16 Total assetsStart of year $33,351,605$38,237,800
X-17 Accounts payable and accrued expensesStart of year $100,732$131,051
X-19 Deferred revenueStart of year $638,377$273,000
X-25 Other liabilitiesStart of year $94,185$8,857
X-26 Total liabilitiesStart of year $833,294$412,908
X-27 Net assets without donor restrictionsStart of year $32,517,611$37,824,892
X-32 Total net assets or fund balancesStart of year $32,518,311$37,824,892
X-33 Total liabilities and net assetsStart of year $33,351,605$38,237,800
Part XI · Reconciliation of net assets $37,824,892 net assets at year end
XI-1 Total revenue$5,058,934
XI-2 Total expenses$3,066,230
XI-3 Revenue less expenses$1,992,704
XI-4 Net assets at start of year$32,518,311
XI-5 Net unrealized gains (losses) on investments$3,313,877
XI-10 Net assets at end of year$37,824,892

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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