Scholars Academy Foundation for the Gifted EIN 83-3720695

Scholars Academy Foundation for the Gifted

EIN  83-3720695 Supporting organization Charlotte, NC Founded 2019
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Raises funds and collects donations to support Metrolina Regional Scholars Academy.
Leadership
Sridhar Dasu · President
Money in and out
$366K revenue, $203K expenses
Bottom line
+45% net inflow

Raises funds and collects donations to support Metrolina Regional Scholars Academy. For fiscal year 2024 it reported $366K in revenue, $203K in expenses, and $830K in net assets.Pt I

Money in and out · FY2024
Total revenue
$366K
Pt VIII · Ln 12
Total expenses
$203K
Pt IX · Ln 25
Net assets
$830K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $163K
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.03 Fundraising $0.02
Net inflow
+45%
revenue over expenses, this year▼ -42% vs prior filing year
Pass-through gifts
92%
of revenue from contributions▼ -6% vs prior filing year
Program spending
95%
of expenses reach stated programs▼ -5% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$366K
FY2024▼ -9%
Expenses
$203K
FY2024▲ +116%
Total assets
$830K
FY2024▲ +25%
Total liabilities
$0
FY2024
Total revenue
$366K
Pt VIII · Ln 12
Total expenses
$203K
Pt IX · Ln 25
Net assets
$830K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$163K
Total assetsPt X · Ln 16$830K
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

1 program service account for $193K of program spending, described in the organization's own filed words · FY2024.
01

The organization collected charitable donations to support the metrolina regional scholars academy.

$193Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CScholars Academy Foundation for the Gifted
EINHdr · item D83-3720695
Principal addressHdr · item CCharlotte, NC
WebsiteHdr · item Jwww.scholarsacademy.org
Year of formationHdr · item L2019
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFJun 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$336K · 92%
Investment income$30K · 8%
Contributions & grants92%$336K
Investment income8%$30K
Total revenueLn 12$366K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.03 Fundraising $0.02
Program services95%$193K
Management & general3%$5K
Fundraising2%$4K
Total functional expensesLn 25$203K

Balance Sheet

Part X · end of year
CashLn 1$824K
Total assetsLn 16$830K
Total liabilitiesLn 26$0
Total net assetsLn 32$830K
Months of cash on handcomputed48.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $824K · Operating expenses/yr $203K
48.8 months
Where the money goes
Program services
Program services $193K · Total expenses $203K
95%
Management & General
Management & general $5K · Total expenses $203K
3%
Fundraising
Fundraising $4K · Total expenses $203K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $1K · Solicited contributions (3-yr avg) $375K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $336K · Total revenue $366K
92%
Government reliance
Government grants — · Total revenue $366K
Earned-income share
Program service revenue $0 · Total revenue $366K
0%
Investment reliance
Investment income $30K · Total revenue $366K
+8%
Program self-sufficiency
Program service revenue $0 · Total expenses $203K
0%
Growth & trend
Revenue growth (YoY)
This year $366K · Prior year $401K
-9%
Net-asset trend (YoY)
End of year $830K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $366K · Expenses $203K
+45%
Liabilities-to-Assets
Total liabilities — · Total assets $830K
Net-asset ratio
Net assets $830K · Total assets $830K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $830K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sridhar Dasu · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $203K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $203K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 3%
Fundraising cost ratio 1%
Revenue growth -9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 5 funders$44K
See all 5 funders →
Grants paid · 1 grant · $193K · 2024–2024

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$401K revenue · ⤓ 990 PDF
FY2023$400K revenue · ⤓ 990 PDF
FY2022$357K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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