Entrepreneurs Scholarship Program FY2022 filing

Tax-deductible

Desoto, TX501(c)(3)EducationEIN 81-4347265

Provided scholarships between 10005000 to asssit students of low income families in dfwtx area in obtaining postsecondary education

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$6K 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

FY2022 · 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
4 of 5
filings with a surplus
Average surplus $18K a year · 21% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$6K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$70K
+20% vs prior year
Spent
$83K
To programs
82%
Net assets
$206K
By yearFY2020–FY2024
Revenue
$70K
FY2022▲ +20%
Revenue by fiscal year
FY2020$39K
FY2021$58K
FY2022$70K
FY2023$132K
FY2024$115K
Expenses
$83K
FY2022▲ +46%
Expenses by fiscal year
FY2020$35K
FY2021$57K
FY2022$83K
FY2023$81K
FY2024$70K
Net assets
$206K
FY2022
Net assets by fiscal year
FY2020$0
FY2021$0
FY2022$206K
FY2023$206K
FY2024$282K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2017.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $68K Management & general 17% · $14K Fundraising 1% · $1K

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

Who runs it and what they're paid

9 people listed on the 990; $6K paid to officers and key staff.

Part VII, Section A · reportable compensation
$6,250Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Marketing Director
$0Pt VII · Sec A

Rakesia S Williams’s $9K as Director is at the 8th percentile of top reported officer pay among 1613 $100K–1M 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

NameFY2024FY2023FY2022FY2021FY2020
Rakesia S Williams$9,000$375$6,250$4,750—
Jibreel a Rashad———$450$75

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.

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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 low-income DFW students for postsecondary education.

Provided by the organization

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1 program service account for $128K of program spending, described in the organization's own filed words · FY2022.
01

Twenty-nine (29) scholarships provided to students of low income families in the DFW, TX area for post secondary education

$128Kprogram 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$10K
Grants paid · 1 grant · $37K · 2021–2021
Unitemized GrantFY2021$37,250

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$70K
Ln 12
Gifts and grantsLn 1h$114K
Money outPt IX
$83K
Ln 25
Programscol B$68K
Managementcol C$14K
Fundraisingcol D$1K
Owns and owesPt X
$206K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$206K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$114K
Fundraising eventsLn 1c$51K
Total revenueLn 12$70K
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Total assetsLn 16$206K
LiabilitiesLn 26$0
Net assetsLn 32$206K
OperationsPt I, VI
EmployeesI 52
VolunteersI 63
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 FY22End FY22
Cash and savingsLn 1–2$7K$6K
Total assetsLn 16$207K$206K
LiabilitiesLn 26$0$0
Net assetsLn 32$207K$206K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$30K$30K
Pay of current officers, directors and key staffLn 5$4K$4K
Other salaries and wagesLn 7$10K$10K
Payroll taxesLn 10$956$956
Management feesLn 11a$950$950
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$11K$10K$1K
InterestLn 20$285$285
Other expenses (24a–d)Ln 24$11K$11K
All other expensesLn 24e$285$285
Total functional expensesLn 25$83K$68K$14K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $115K$70K$45K$282K 990 PDF
FY2023 $132K$81K$51K$206K 990 PDF
FY2022 Viewing $70K$83K−$13K$206K 990 PDF
FY2021 $58K$57K$1K$0 990 PDF
FY2020 $39K$35K$5K$0 990 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $69,879 across 6 lines filed
VIII-1a Federated campaigns$11,588
VIII-1c Fundraising events$50,530
VIII-1f All other contributions, gifts and grants$52,224
VIII-1h Total contributions, gifts and grants$114,342
VIII-8 Net income from fundraising events−$44,463
VIII-12 Total revenue$69,879
Part IX · Statement of functional expenses $83,224 across 10 lines filed
IX-2 Grants to domestic individualsPrograms $29,552$29,552
IX-5 Pay of current officers, directors and key staffManagement $3,800$3,800
IX-7 Other salaries and wagesManagement $10,052$10,052
IX-10 Payroll taxesPrograms $956$956
IX-11a Management feesPrograms $950$950
IX-12 Advertising and promotionPrograms $14,452$14,452
IX-13 Office expensesPrograms $10,238 · Fundraising $1,191$11,429
IX-20 InterestPrograms $285$285
IX-24 Other expenses (24a–d)Programs $11,463$11,463
IX-24e All other expensesManagement $285$285
IX-25 Total functional expensesPrograms $67,896 · Management $14,137 · Fundraising $1,191$83,224
Part X · Balance sheet $205,795 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $6,678$5,795
X-14 Intangible assetsStart of year $200,000$200,000
X-16 Total assetsStart of year $206,678$205,795
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $206,678$205,795
X-32 Total net assets or fund balancesStart of year $206,678$205,795
X-33 Total liabilities and net assetsStart of year $206,678$205,795
Part XI · Reconciliation of net assets $205,795 net assets at year end
XI-1 Total revenue$69,879
XI-2 Total expenses$83,224
XI-3 Revenue less expenses−$13,345
XI-4 Net assets at start of year$206,678
XI-10 Net assets at end of year$205,795

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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