Carson Scholars Fund INC

Tax-deductible

Towson, MD501(c)(3)EducationEIN 52-1851346

The fund recognizes and rewards promising students in grades 4-11 with scholarships to college.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 320 volunteers and 13 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $119K a year · 6% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$223K
to officers and key staff · 9% of spending
Top officer’s pay higher than 66% of similar orgs
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
20 mo
of spending, in cash
Looks good: 19.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $65K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.9M
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 22 voting members
Looks good: 19 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
+31% vs prior year
Spent
$2.6M
To programs
91%
Net assets
$13.4M
By yearFY2021–FY2025
Revenue
$2.6M
FY2025▲ +31%
Revenue by fiscal year
FY2021$1.6M
FY2022$1.8M
FY2023$1.8M
FY2024$2.0M
FY2025$2.6M
Expenses
$2.6M
FY2025▲ +11%
Expenses by fiscal year
FY2021$1.8M
FY2022$1.9M
FY2023$1.8M
FY2024$2.3M
FY2025$2.6M
Net assets
$13.4M
FY2025▲ +3%
Net assets by fiscal year
FY2021$14.8M
FY2022$12.8M
FY2023$12.8M
FY2024$13.0M
FY2025$13.4M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1994.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $2.3M Management & general 6% · $142K Fundraising 4% · $97K

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

Who runs it and what they're paid

22 people listed on the 990; $223K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Director
$153,125Pt VII · Sec A
Executive Director Emerita
$70,313Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Katie Coleman’s $153K as Executive Director is at the 66th percentile of top reported officer pay among 3395 $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.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Katie Coleman$153,125$62,500———
Amy Warner$70,313$150,000$150,000$150,000$150,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Carson Scholars Fund INC executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Awards scholarships to promising students in grades 4-11 for college.

Provided by the organization

This section is blank until Carson Scholars Fund INC claims this page.

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2 program services account for $2.3M of program spending, described in the organization's own filed words · FY2024.
01

Scholarships

The carson scholars fund has awarded 12,198 scholarship in all fifty states and washington, DC. Over 930 colleges and universities have (or have had) carson scholars. The carson scholars fund has an alumni network of over 9,600 (scholars old enough to have graduated from high school).

$1.6Mprogram expense
02

Reading Rooms

The ben carson reading project has established over 300 ben CARSON/THINK big reading rooms and serves students in 24 states and washington, DC. Celebrating its 25TH anniversary in 2025, the project has dispersed over $4 million to create reading oases.

$719Kprogram expense

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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 1 funder$65K
Grants paid · 5 grants · $3.0M · 2020–2024
Unitemized GrantFY2024$736,400
Unitemized GrantFY2023$616,000
Unitemized GrantFY2022$482,000
Unitemized GrantFY2021$547,000
Unitemized GrantFY2020$667,000

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$2.6M
Ln 12
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$830K
Other incomeLn 4–11$190K
Money outPt IX
$2.6M
Ln 25
Programscol B$2.3M
Managementcol C$142K
Fundraisingcol D$97K
Owns and owesPt X
$13.4M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$17.3M
LiabilitiesLn 26$3.9M
PeoplePt VI, VII
22
listed · VII A
PaidVII A2
Voting boardVI 1a22
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Noncash giftsLn 1g$60K
Fundraising eventsLn 1c$78K
Fees for servicesLn 2g$134K
Investment incomeLn 3$830K
Other incomeLn 4–11$190K
Gains on assetsLn 7$419K
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$2.1M
SavingsLn 2$2.1M
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$11.3M
Other assetsLn 15$1.0M
Total assetsLn 16$17.3M
LiabilitiesLn 26$3.9M
Net assetsLn 32$13.4M
OperationsPt I, VI
EmployeesI 513
VolunteersI 6320
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$3.0M$4.2M
InvestmentsLn 11–13$11.5M$11.3M
Total assetsLn 16$16.4M$17.3M
LiabilitiesLn 26$3.4M$3.9M
Net assetsLn 32$13.0M$13.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$736K$736K
Pay of current officers, directors and key staffLn 5$343K$274K$37K$32K
Other salaries and wagesLn 7$387K$309K$42K$36K
Pension plan contributionsLn 8$68K$54K$7K$6K
Payroll taxesLn 10$62K$49K$7K$6K
Legal feesLn 11b$309$247$62
Accounting feesLn 11c$49K$39K$10K
Other fees for servicesLn 11g$1K$1K$250
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$58K$46K$11K$385
Information technologyLn 14$69K$55K$14K
OccupancyLn 16$65K$58K$4K$3K
TravelLn 17$23K$21K$1K
Conferences, conventions and meetingsLn 19$18K$9K$2K$7K
InsuranceLn 23$17K$13K$3K
Other expenses (24a–d)Ln 24$647K$644K$2K$2K
All other expensesLn 24e$12K$9K$2K
Total functional expensesLn 25$2.6M$2.3M$142K$97K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.6M$2.6M$30K$13.4M 990 PDF
FY2024 $2.0M$2.3M−$334K$13.0M 990 PDF
FY2023 $1.8M$1.8M$26K$12.8M 990 PDF
FY2022 $1.8M$1.9M−$126K$12.8M 990 PDF
FY2021 $1.6M$1.8M−$189K$14.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $2,589,691 across 10 lines filed
Lines not itemized here account for $9,896 of total revenue; see the IRS return.
VIII-1c Fundraising events$77,516
VIII-1f All other contributions, gifts and grants$1,358,059
VIII-1g Noncash contributions (included above)$60,051
VIII-1h Total contributions, gifts and grants$1,435,575
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $134,023$134,023
VIII-3 Investment incomeExcluded from tax $410,961$410,961
VIII-7 Net gain or loss on sales of assetsExcluded from tax $419,273$419,273
VIII-8 Net income from fundraising eventsExcluded from tax $52,878$52,878
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $127,085$127,085
VIII-12 Total revenueRelated to mission $143,919 · Unrelated business $0 · Excluded from tax $1,010,197$2,589,691
Part IX · Statement of functional expenses $2,559,581 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $736,400$736,400
IX-5 Pay of current officers, directors and key staffPrograms $274,230 · Management $37,021 · Fundraising $31,536$342,787
IX-7 Other salaries and wagesPrograms $309,428 · Management $41,773 · Fundraising $35,584$386,785
IX-8 Pension plan contributionsPrograms $54,237 · Management $7,322 · Fundraising $6,237$67,796
IX-10 Payroll taxesPrograms $49,271 · Management $6,652 · Fundraising $5,666$61,589
IX-11b Legal feesPrograms $247 · Management $62$309
IX-11c Accounting feesPrograms $39,066 · Management $9,766$48,832
IX-11g Other fees for servicesPrograms $1,000 · Management $250$1,250
IX-12 Advertising and promotionFundraising $6,155$6,155
IX-13 Office expensesPrograms $46,463 · Management $11,230 · Fundraising $385$58,078
IX-14 Information technologyPrograms $54,887 · Management $13,722$68,609
IX-16 OccupancyPrograms $58,464 · Management $3,553 · Fundraising $2,584$64,601
IX-17 TravelPrograms $21,163 · Management $1,351$22,514
IX-19 Conferences, conventions and meetingsPrograms $9,067 · Management $1,813 · Fundraising $7,253$18,133
IX-23 InsurancePrograms $13,462 · Management $3,366$16,828
IX-24 Other expenses (24a–d)Programs $643,546 · Management $1,886 · Fundraising $1,885$647,317
IX-24e All other expensesPrograms $9,278 · Management $2,320$11,598
IX-25 Total functional expensesPrograms $2,320,209 · Management $142,087 · Fundraising $97,285$2,559,581
Part X · Balance sheet $17,340,238 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $2,042,922$2,109,266
X-2 Savings and temporary cash investmentsStart of year $934,392$2,062,813
X-3 Pledges and grants receivableStart of year $1,244,626$744,641
X-8 Inventories for sale or useStart of year $42,270$45,606
X-11 Publicly traded securitiesStart of year $11,524,188$11,331,280
X-15 Other assetsStart of year $587,654$1,046,632
X-16 Total assetsStart of year $16,376,052$17,340,238
X-17 Accounts payable and accrued expensesStart of year $42,564$20,774
X-18 Grants payableStart of year $3,354,247$3,482,863
X-25 Other liabilitiesStart of year $14,436$432,820
X-26 Total liabilitiesStart of year $3,411,247$3,936,457
X-27 Net assets without donor restrictionsStart of year $4,587,570$4,917,256
X-28 Net assets with donor restrictionsStart of year $8,377,235$8,486,525
X-32 Total net assets or fund balancesStart of year $12,964,805$13,403,781
X-33 Total liabilities and net assetsStart of year $16,376,052$17,340,238
Part XI · Reconciliation of net assets $13,403,781 net assets at year end
XI-1 Total revenue$2,589,691
XI-2 Total expenses$2,559,581
XI-3 Revenue less expenses$30,110
XI-4 Net assets at start of year$12,964,805
XI-5 Net unrealized gains (losses) on investments$407,866
XI-8 Prior period adjustments$1,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,403,781

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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