Best Student Fund: FY2021 Nonprofit Profile & Form 990 (EIN 86-1027002)

Revenue by fiscal year
FY2020	$201K
FY2021	$279K
FY2022	$312K
FY2023	$225K
FY2024	$179K
FY2025	$144K

Expenses by fiscal year
FY2020	$650K
FY2021	$271K
FY2022	$218K
FY2023	$183K
FY2024	$175K
FY2025	$310K

Net assets by fiscal year
FY2020	$181K
FY2021	$189K
FY2022	$283K
FY2023	$325K
FY2024	$329K
FY2025	$164K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2001.

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

Where the money goes

94 cents of each dollar spent went to programs.

94%

Program services 94% · $254K Management & general 6% · $17K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Vaseem Khan

Chairman/President/Treasur

$0Pt VII · Sec A

Rabah Abdelkarim

Vice President/Secretary

$0Pt VII · Sec A

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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

Offers scholarships and grants for private school tuition to Arizona students.

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Provided by the organization

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1 program · $254K · in their own filed words · FY2020

01

The organization provided a total of 127 educational scholarships and tuition grants from three different programs to 47 students attending private elementary or secondary schools in arizona.

$254Kprogram 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 · FY2022

American Online Giving Foundation INCFY2022$57K

Total grants receivedfrom 1 funder$57K

Grants paid · 6 grants · $1.7M · 2019–2024

Unitemized GrantFY2024$290,200

Unitemized GrantFY2023$156,675

Unitemized GrantFY2022$162,600

Unitemized GrantFY2021$200,000

Unitemized GrantFY2020$254,500

Unitemized GrantFY2019$639,000

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$279K

Ln 12

Gifts and grantsLn 1h$279K

Money outPt IX

$271K

Ln 25

Programscol B$254K

Managementcol C$17K

Owns and owesPt X

$189K

net assets · Ln 32

Cash and savingsLn 1–2$189K

Total assetsLn 16$189K

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$279K

Total revenueLn 12$279K

Assets in detailPt X, end of year

CashLn 1$189K

Cash and savings togetherLn 1–2$189K

Total assetsLn 16$189K

LiabilitiesLn 26$0

Net assetsLn 32$189K

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$181K	$189K
Total assetsLn 16	$181K	$189K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$181K	$189K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$254K	$254K
Accounting feesLn 11c	$12K		$12K
Other expenses (24a–d)Ln 24	$5K		$5K
Total functional expensesLn 25	$271K	$254K	$17K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$144K	$310K	−$166K	$164K	990 PDF
FY2024	$179K	$175K	$5K	$329K	990 PDF
FY2023	$225K	$183K	$42K	$325K	990 PDF
FY2022	$312K	$218K	$94K	$283K	990 PDF
FY2021 Viewing	$279K	$271K	$7K	$189K	990 PDF
FY2020	$201K	$650K	−$449K	$181K	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 FY2021 990 (6 parts)

Part I · Summary $278,879 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $201,055$278,879

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $201,055$278,879

I-13 Grants and similar amounts paidPrior year $639,000$254,500

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $11,331$16,891

I-18 Total expensesPrior year $650,331$271,391

I-19 Revenue less expensesPrior year −$449,276$7,488

Part VI · Governance 2 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $278,879 across 3 lines filed

VIII-1f All other contributions, gifts and grants$278,879

VIII-1h Total contributions, gifts and grants$278,879

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$278,879

Part IX · Statement of functional expenses $271,391 across 3 lines filed

IX-2 Grants to domestic individualsPrograms $254,500$254,500

IX-11c Accounting feesManagement $11,700$11,700

IX-24 Other expenses (24a–d)Management $5,191$5,191

IX-25 Total functional expensesPrograms $254,500 · Management $16,891 · Fundraising $0$271,391

Part X · Balance sheet $188,742 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $181,254$188,742

X-16 Total assetsStart of year $181,254$188,742

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $181,254$188,742

X-32 Total net assets or fund balancesStart of year $181,254$188,742

X-33 Total liabilities and net assetsStart of year $181,254$188,742

Part XI · Reconciliation of net assets $188,742 net assets at year end

XI-1 Total revenue$278,879

XI-2 Total expenses$271,391

XI-3 Revenue less expenses$7,488

XI-4 Net assets at start of year$181,254

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$188,742

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Best Student Fund FY2021 filing

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