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Famous Scholars

Tax-deductible

Valparaiso, IN501(c)(3)Recreation & SportsEIN 84-2449517Revenue $377K in FY2025

On file with the IRS270 Rigg Rd, 46383-9537 · Valparaiso, INTax-exempt since Jul 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Allow children the opportunity to participate in competitive cheerleading

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 5 volunteers.
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
3 of 3
filings with a surplus
Average surplus $15K a year · 5% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$377K
+9% vs prior year
Spent
$353K
To programs
98%
Net assets
$63K
By yearFY2023–FY2025
Revenue
$377K
FY2025▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2023$213K
FY2024$345K
FY2025$377K
Expenses
$353K
FY2025▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2023$206K
FY2024$331K
FY2025$353K
Net assets
$63K
FY2025▲ +63%
Tap a bar for its year
Net assets by fiscal year
FY2023$24K
FY2024$39K
FY2025$63K

From the FY2025 Form 990 (year ending April 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $345K Management & general 2% · $8K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Dru Downen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Famous Scholars 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 15aNo

Programs and updates

Enables children to experience competitive cheerleading.

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Provided by the organization

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1 program · $345K · in their own filed words · FY2024
01

Allow children the opportunity to participate in competitive cheerleading by supplying competition fees and uniforms

$345Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$377K
Ln 12
Fees for servicesLn 2g$320K
Gifts and grantsLn 1h$57K
Money outPt IX
$353K
Ln 25
Programscol B$345K
Managementcol C$8K
Owns and owesPt X
$63K
net assets · Ln 32
Cash and savingsLn 1–2$63K
Total assetsLn 16$63K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$57K
Fundraising eventsLn 1c$42K
Fees for servicesLn 2g$320K
Total revenueLn 12$377K
Assets in detailPt X, end of year
CashLn 1$63K
Cash and savings togetherLn 1–2$63K
Total assetsLn 16$63K
LiabilitiesLn 26$0
Net assetsLn 32$63K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderApril
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
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$39K$63K
Total assetsLn 16$39K$63K
LiabilitiesLn 26$0$0
Net assetsLn 32$39K$63K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K$0$0
Advertising and promotionLn 12$2K$2K$0$0
Office expensesLn 13$8K$0$8K$0
InsuranceLn 23$1K$1K$0$0
Other expenses (24a–d)Ln 24$178K$177K$111$0
All other expensesLn 24e$162K$162K$0$0
Total functional expensesLn 25$353K$345K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $377K$353K$24K$63K 990 PDF
FY2024 $345K$331K$14K$39K 990 PDF
FY2023 $213K$206K$7K$24K 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 (6 parts)
Part I · Summary $377,486 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $28,215$57,337
I-9 Program service revenuePrior year $316,935$320,149
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $345,150$377,486
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $330,685$353,091
I-18 Total expensesPrior year $330,685$353,091
I-19 Revenue less expensesPrior year $14,465$24,395
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $377,486 across 6 lines filed
VIII-1b Membership dues$11,048
VIII-1c Fundraising events$41,859
VIII-1f All other contributions, gifts and grants$4,430
VIII-1h Total contributions, gifts and grants$57,337
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$320,149
VIII-12 Total revenueRelated to mission $320,149 · Unrelated business $0 · Excluded from tax $0$377,486
Part IX · Statement of functional expenses $353,091 across 6 lines filed
IX-11c Accounting feesPrograms $1,980 · Management $0 · Fundraising $0$1,980
IX-12 Advertising and promotionPrograms $1,954 · Management $0 · Fundraising $0$1,954
IX-13 Office expensesPrograms $0 · Management $7,918 · Fundraising $0$7,918
IX-23 InsurancePrograms $1,498 · Management $0 · Fundraising $0$1,498
IX-24 Other expenses (24a–d)Programs $177,421 · Management $111 · Fundraising $0$177,532
IX-24e All other expensesPrograms $162,209 · Management $0 · Fundraising $0$162,209
IX-25 Total functional expensesPrograms $345,062 · Management $8,029 · Fundraising $0$353,091
Part X · Balance sheet $63,169 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $38,774$63,169
X-16 Total assetsStart of year $38,774$63,169
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $38,774$63,169
X-32 Total net assets or fund balancesStart of year $38,774$63,169
X-33 Total liabilities and net assetsStart of year $38,774$63,169
Part XI · Reconciliation of net assets $63,169 net assets at year end
XI-1 Total revenue$377,486
XI-2 Total expenses$353,091
XI-3 Revenue less expenses$24,395
XI-4 Net assets at start of year$38,774
XI-10 Net assets at end of year$63,169

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

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