2018-08-07T15:22:57-05:00 2017-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2017-01-01 042296967 SCHOLARSHIP AMERICA INC SCHO 9528307396 7900 INTERNATIONAL DR NO 500 MINNEAPOLIS MN 55425 RICHARD GREENE CFO 9528307396 2018-08-03 1 LAWRENCE H MOHR CPA P00447603 6128764500 2017 2022-09-23 18:48:47Z ROBERT BALLARD 7900 INTERNATIONAL DR NO 500 MINNEAPOLIS MN 55425 227306965 0 X WWW.SCHOLARSHIPAMERICA.ORG X 1961 MA TO MOBILIZE AMERICA THROUGH SCHOLARSHIPS AND OTHER STUDENT SUPPORTS. 16 16 202 13000 0 0 161224923 171944877 13172333 13257849 1332837 4132820 -122018 -45147 175608075 189290399 171725189 173400026 0 0 9184171 9899499 0 0 1644779 4618825 4600260 185528185 187899785 -9920110 1390614 138143264 147897755 43476003 47636855 94667261 100260900 X SCHOLARSHIP AMERICA IS A NATIONAL EDUCATION SERVICE ORGANIZATION. OUR MISSION IS TO MOBILIZE AMERICA THROUGH SCHOLARSHIPS AND EDUCATIONAL SUPPORT TO MAKE POSTSECONDARY SUCCESS POSSIBLE FOR ALL STUDENTS. SCHOLARSHIP AMERICA HAS DISTRIBUTED MORE THAN $3.9 BILLION IN SCHOLARSHIP ASSISTANCE TO MORE THAN 2.4 MILLION STUDENTS SINCE 1958. SCHOLARSHIP AMERICA'S PROGRAMS HELP FUND BOTH ENTRY-LEVEL AND RENEWABLE, MULTI-YEAR SCHOLARSHIPS, TUITION ASSISTANCE PROGRAMS, AS WELL AS EMERGENCY FINANCIAL GRANTS. PROGRAMS INCLUDE DOLLARS FOR SCHOLARS, DREAMKEEPERS, THE DREAM AWARD SCHOLARSHIP PROGRAM, AND SCHOLARSHIP MANAGEMENT SERVICES. 0 0 179853937 173400026 12489283 SCHOLARSHIP AMERICA (PROGRAM MANAGEMENT) IS THE LEADING EDUCATION ASSISTANCE SERVICE PROVIDER IN THE COUNTRY, HELPING CORPORATIONS, FOUNDATIONS AND INDIVIDUALS DESIGN AND ADMINISTER SCHOLARSHIP AND RELATED EDUCATIONAL ASSISTANCE PROGRAMS. 920122 768566 DOLLARS FOR SCHOLARS (DFS) AND OTHER STUDENT PROGRAMS IS COMPRISED OF A NATIONAL NETWORK OF NEARLY 500 COMMUNITY-BASED, VOLUNTEER-DRIVEN DFS CHAPTER ORGANIZATIONS THAT PROVIDE EDUCATIONAL ASSISTANCE TO LOCAL COMMUNITIES, ALONG WITH OTHER PROGRAMMING SUCH AS EMERGENCY FINANCIAL ASSISTANCE GRANTS TO DRIVE PERSISTENCE IN POST-SECONDARY EDUCATION. 631853 OTHER PROGRAM SERVICES INCLUDE THE FAMILIES OF FREEDOM SCHOLARSHIP PROGRAM AND OTHER RELATED EDUCATION PROGRAM RESEARCH, POLICY AND COMMUNITY ENGAGEMENT ACTIVITIES. 181405912 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 1 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 395 0 1 202 1 0 1 CA 0 0 0 1 1 0 0 0 0 X 16 16 0 0 1 0 0 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT DC FL GA HI IL IN IA KS KY ME MD MA MI MN MS MT NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI X X RICHARD S GREENE CFO 9528307396 7900 INTERNATIONAL DR SUITE 500 MINNEAPOLIS MN 55425 J BARRY GRISWELL CHAIR OF THE BOARD 5.00 X X 0 0 0 MICHAEL RYAN PAST CHAIR OF THE BOARD 5.00 X X 0 0 0 JOSEPH PALOMBO SECRETARY 5.00 X X 0 0 0 PHYLLIS MCGRATH SECRETARY (PARTIAL YEAR) 5.00 X X 0 0 0 RICHARD J SCHWAB TREASURER, FINANCE & INVESTMENT COMMITTEE CHAIR 5.00 X X 0 0 0 MICHAEL L DAVIS TRUSTEE 3.00 X 0 0 0 CHARLENE HINTON TRUSTEE 3.00 X 0 0 0 ALAIN KARAOGLAN TRUSTEE 3.00 X 0 0 0 TINA LEE TRUSTEE 5.00 X 0 0 0 MICHAEL MANEY TRUSTEE 3.00 X 0 0 0 KAY MARQUET TRUSTEE 5.00 X 0 0 0 DOUGLAS MELLO TRUSTEE 3.00 X 0 0 0 JAY MORRIS TRUSTEE 3.00 X 0 0 0 JOYCE E SMITH TRUSTEE 3.00 X 0 0 0 ROXANNE SPILLETT TRUSTEE 5.00 X 0 0 0 MARK P TURCHAN TRUSTEE 3.00 X 0 0 0 WILLIAM YOUNG TRUSTEE 5.00 X 0 0 0 ROBERT BALLARD PRESIDENT AND CEO 40.00 X 283884 0 16686 RICHARD GREENE CHIEF FINANCIAL OFFICER 40.00 X 206992 0 26607 RHIANNA QUINN RODDY EXECUTIVE DIRECTOR, FOF 40.00 X 228186 0 36408 JENNIFER MENKE VP, HUMAN RESOURCES & STUDENT SUCCESS PROGRAMS 40.00 X 160608 0 22277 MICHAEL NYLUND VP, STRATEGIC PARTNERSHIPS & SOLUTIONS 40.00 X 153862 0 21627 STEPHANIE STOFFEL VP, IT 40.00 X 137703 0 25291 BONNIE MELVILLE VP, OPERATIONS 40.00 X 119866 0 5403 1291101 0 154299 8 0 1 0 INTERNET CONNECTIONS INC PO BOX 205 MANKATO MN 56002 SOFTWARE DEVELOPMENT 340968 BRAINCHILD CREATIVE 12 GEARY ST STE 607 SAN FRANCISCO CA 94108 MARKETING COMMUNICATIONS 165000 REVOLUTION IMPACT LLC 411 W ONTARIO ST STE 512 CHICAGO IL 60654 STRATEGY CONSULTING 126075 LETTER B LLC 313 LINDEN LANE TIFFIN IA 52340 SOFTWARE DEVELOPMENT 119225 4 X 438368 171506509 2795265 171944877 MANAGEMENT FEES 900099 12489283 12489283 DOLLARS FOR SCHOLARS/OTHER 900099 768566 768566 13257849 2150558 2150558 39765100 37782838 1982262 1982262 1982262 72500 438368 233728 -161228 -161228 OTHER INCOME 900099 116081 116081 116081 189290399 13257849 0 4087673 X 167205768 167205768 6194258 6194258 555030 555030 7803335 4608772 2113354 1081209 94325 69316 8748 16261 876303 636511 158310 81482 570506 332501 162858 75147 119207 119207 65679 65679 107458 107458 1314364 522327 689053 102984 352566 149286 199409 3871 514643 392384 84974 37285 175703 108097 67606 538617 267300 178267 93050 513854 308724 134405 70725 82588 57293 19314 5981 545099 416227 95609 33263 157160 103829 38165 15166 MISCELLANEOUS 113322 33319 51648 28355 187899785 181405912 4849094 1644779 17581332 24268124 1947612 2024861 1833252 1799308 385887 274663 10892505 7873137 2436198 3019368 106279126 109140721 6064086 5956917 1365655 1162097 250116 251696 138143264 147897755 1333825 1576406 772304 1469391 41369874 44591058 43476003 47636855 X 6772995 8472070 74403213 78085063 13491053 13703767 94667261 100260900 138143264 147897755 1390614 4203025 0 X X 0 1 X 1 0 X 135070904 156910250 170535270 161224923 171944877 795686224 135070904 156910250 170535270 161224923 171944877 795686224 26539888 769146336 800811 2312344 2694818 2439905 5239888 13487766 82625 116081 198706 809372696 0.95030 0.95780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15896845 808441 1927812 600492 98398 17934208 15501416 39013 982305 543709 82180 15896845 18993284 6745 -299648 603842 2595123 15501416 21954992 90871 779779 747168 3085190 18993284 20380843 615239 1147018 188108 21954992 0.05060 0.75500 0.19440 0 0 329436 329436 4989468 3571757 1417711 496623 229011 267612 4337778 4056363 281415 739200 16006 723194 3019368 SCHOLARSHIPS PAYABLE 11260668 REFUNDABLE DEPOSITS 33330390 44591058 X 126492375 4203025 233728 4436753 122055622 107458 67127319 67234777 189290399 120898736 233728 233728 120665008 107458 67127319 67234777 187899785 PART V, LINE 4: SCHOLARSHIPS: NEARLY ALL OF SCHOLARSHIP AMERICA'S ENDOWMENT FUNDS ARE FOR SCHOLARSHIP PROGRAMS AS SPECIFIED BY THE DONORS. THE DONOR AGREEMENTS OUTLINE ANY SPECIAL AWARD CRITERIA CONCERNING GEOGRAPHIC LOCATION, SCHOOL, COURSE OF STUDY, ETC., AND WHETHER OR NOT THE PRINCIPAL MAY BE USED FOR AWARDS. DOLLARS FOR SCHOLARS: DONORS HAVE ALSO ESTABLISHED SMALL ENDOWMENTS WHICH SUPPORT OPERATIONAL EXPENSES OF THE DOLLARS FOR SCHOLARS PROGRAM. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT SCHOLARSHIP AMERICA IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. SCHOLARSHIP AMERICA IS ALSO EXEMPT FROM STATE INCOME TAXES. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. SCHOLARSHIP AMERICA FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY SCHOLARSHIP AMERICA FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2017 AND 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 233,728. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS WITHOUT VARIANCE POWER 67,127,319. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 233,728. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS WITHOUT VARIANCE POWER 67,127,319. PART XI, LINE 2D AND PART XII, LINE 2D: FUNDRAISING EXPENSES INCLUDED IN NET REVENUE ON FORM 990 AND ON STATEMENT OF FUNCTIONAL EXPENSE IN THE AUDITED FINANCIAL STATEMENTS. PART XI, LINE 4B AND PART XII, LINE 4B: SCHOLARSHIP CONTRIBUTIONS AND AWARDS OVER WHICH SCHOLARSHIP AMERICA DOES NOT HAVE VARIANCE POWER. 1 CENTRAL AMERICA/CARIBBEAN 0 0 GRANTMAKING SCHOLARSHIP AWARD 107250 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING SCHOLARSHIP AWARD 888026 EUROPE 0 0 GRANTMAKING SCHOLARSHIP AWARD 1383598 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 148250 NORTH AMERICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 2504097 RUSSIA/INDEPENDENT STATES 0 0 GRANTMAKING SCHOLARSHIP AWARD 57600 SOUTH AMERICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 580687 SOUTH ASIA 0 0 GRANTMAKING SCHOLARSHIP AWARD 452500 SUB-SAHARAN AFRICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 72250 0 0 0 0 0 0 6122008 72250 6194258 CENTRAL AMERICA/CARRIBEAN SCHOLARSHIPS 5000 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 6000 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 7323 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 7500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5035 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5960 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6250 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6300 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 8250 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 9000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 9500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 9700 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 9750 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 10000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 10000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 14250 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 14500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 15400 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 15600 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 24500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6300 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7050 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7480 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7920 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 8000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9225 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 11000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 11000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 11250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 11750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 12000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 12700 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 13000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 13500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 13888 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 14271 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 14400 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 14500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 15000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 16000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 17125 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 18790 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 19500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 20000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 21000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 22500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 26550 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 26650 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 27800 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 28850 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 37683 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 38389 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 38500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 38500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 40000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 42450 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 46250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 51625 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 55750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 60150 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 60750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 63450 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 71400 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 87500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 93925 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 134900 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 135750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 185091 CHECK OR ET 103 0 SCHOLARSHIPS CENT. AMERICA/CARIBBEAN 32 88700 CHECK OR ET SCHOLARSHIPS EAST ASIA/PACIFIC 272 761650 CHECK OR ET SCHOLARSHIPS EUROPE/ICELAND/GREENLAND 388 1025600 CHECK OR ET SCHOLARSHIPS MIDDLE EAST/NORTH AFRICA 46 143250 CHECK OR ET SCHOLARSHIPS NORTH AMERICA 140 360402 CHECK OR ET SCHOLARSHIPS RUSSIA/NEWLY IND. STATES 22 53100 CHECK OR ET SCHOLARSHIPS SOUTH AMERICA 219 572086 CHECK OR ET SCHOLARSHIPS SOUTH ASIA 138 421000 CHECK OR ET SCHOLARSHIPS SUB-SAHARAN AFRICA 28 65250 CHECK OR ET 1 0 0 1 0 0 PART I, LINE 2: GRANTS OUTSIDE THE UNITED STATES ARE COMPETITIVELY AWARDED USING THE PROCESS DESCRIBED IN SCHEDULE I, PART I, LINE 2 (GRANTS IN THE UNITED STATES). IN ADDITION, FOR EACH STUDENT SCHOLARSHIP AMERICA OBTAINS A VERIFICATION OF ENROLLMENT. BEFORE PAYMENT, THE NAMES OF BENEFICIARIES ARE COMPARED TO THE TREASURY DEPARTMENT, OFFICE OF FOREIGN ASSETS CONTROL, SPECIALLY DESIGNATED NATIONALS LIST TO MAKE SURE THEY ARE NOT ON THAT LIST. PART I, LINE 3: ACCRUAL METHOD PART II, LINE 2: PAYMENTS TO ORGANIZATIONS OUTSIDE THE UNITED STATES ARE PRIMARILY TO COLLEGES AND UNIVERSITIES. THESE PAYMENTS ULTIMATELY REPRESENT GRANTS TO INDIVIDUAL STUDENTS AWARDED AT THE DISCRETION OF SCHOLARSHIP AMERICA. WHILE SCHOLARSHIP AMERICA KNOWS THE ORGANIZATIONS RECEIVING PAYMENT ARE NOT ON THE OFAC'S SDN LIST, WE ARE UNCERTAIN CONCERNING THE ORGANIZATIONS' CHARITY AND TAX EXEMPT STATUS. BASED ON ALL PUBLIC INFORMATION AVAILABLE, ALL ORGANIZATIONS RECEIVING GRANT PAYMENTS FROM SCHOLARSHIP AMERICA APPEAR TO BE INSTITUTES OF HIGHER EDUCATION CONSISTENT WITH SCHOLARSHIP AMERICA'S EXEMPT PURPOSE. NATL DREAMS TO SUCCESS DINNER 2017 334418 276618 57800 215363 NATL DREAMS TO SUCCESS DINNER 2018 176450 161750 14700 18365 510868 438368 72500 233728 233728 -161228 1 SCHOLARSHIPS 75258 167205768 PART I, LINE 2: SCHOLARSHIP AMERICA WAS FORMED TO ENCOURAGE CITIZEN SUPPORT OF HIGHER EDUCATION INCLUDING THE ADMINISTRATION OF SCHOLARSHIP PROGRAMS ON BEHALF OF PARTICIPATING CORPORATIONS, FOUNDATIONS, AND INDIVIDUALS. SCHOLARSHIP AMERICA'S GRANTS TO INDIVIDUALS FOR STUDY PURPOSES ARE MADE IN COMPLIANCE WITH PROCEDURES SET FORTH IN THE SCHOLARSHIP AMERICA AWARDS KIT ON FILE WITH THE IRS. IN ADMINISTERING A SCHOLARSHIP PROGRAM, SCHOLARSHIP AMERICA IS AVAILABLE TO PERFORM THE FOLLOWING IN DETERMINING THE RECIPIENTS: 1. PREPARE AND FURNISH APPLICATION FORMS (ELECTRONIC AND PAPER); 2. RECEIVE ALL APPLICATION MATERIALS DIRECTLY; 3. PROCESS AND EVALUATE ALL APPLICATIONS; 4. DETERMINE THE RECIPIENTS AND AMOUNTS TO BE AWARDED; 5. NOTIFY THE RECIPIENTS OF THEIR AWARD; 6. CONFIRM THE APPROPRIATE EMPLOYMENT RELATIONSHIP OR PROGRAM ELIGIBILITIES ARE MET; 7. CONFIRM ENROLLMENT IN A QUALIFIED EDUCATIONAL INSTITUTION; 8. MAKE PAYMENT OF THE AWARD; 9. SUPERVISE AND INVESTIGATE THE USE OF THE FUNDS BY THE RECIPIENTS IN THEIR EDUCATIONAL PROGRAMS. RECIPIENTS ARE DETERMINED BY SCHOLARSHIP AMERICA UTILIZING SELECTION CRITERIA BASED ON A DETAILED ANALYSIS OF THE FOLLOWING CANDIDATE INFORMATION: 1. SCHOLASTIC APTITUDE AS MEASURED BY PERFORMANCE ON A RECOGNIZED SCHOLASTIC APTITUDE TEST; 2. SCHOLASTIC PERFORMANCE MEASURED BY RANK IN CLASS OR GRADE POINT AVERAGE; 3. ADULT INDEPENDENT APPRAISAL; 4. WORK EXPERIENCE, INTEREST, ACTIVITIES, AND LEADERSHIP CONTRIBUTIONS; 5. FINANCIAL NEED MAY ALSO BE TAKEN INTO CONSIDERATION. X X X X X 0 0 0 0 0 0 0 0 0 ROBERT BALLARD PRESIDENT AND CEO 283884 0 0 0 0 0 5289 0 11397 0 300570 0 0 0 RICHARD GREENE CHIEF FINANCIAL OFFICER 206992 0 0 0 0 0 4170 0 22437 0 233599 0 0 0 RHIANNA QUINN RODDY EXECUTIVE DIRECTOR, FOF 228186 0 0 0 0 0 4355 0 32053 0 264594 0 0 0 JENNIFER MENKE VP, HUMAN RESOURCES & STUDENT SUCCES 160608 0 0 0 0 0 3225 0 19052 0 182885 0 0 0 MICHAEL NYLUND VP, STRATEGIC PARTNERSHIPS & SOLUTIO 153862 0 0 0 0 0 2813 0 18814 0 175489 0 0 0 STEPHANIE STOFFEL VP, IT 137703 0 0 0 0 0 2878 0 22413 0 162994 0 0 0 X 1 55000 COST X 10 2719705 FAIR MARKET VALUE X OFFICE FURNITURE 1 20560 COST 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED THE BYLAWS FOR THE FOLLOWING: 1) THE BOARD OF TRUSTEES SHALL CONSIST OF AT LEAST TWELVE (12) AND NOT MORE THAN TWENTY-FOUR (24) MEMBERS. 2) TO ADD TO EXPRESS POWERS OF THE BOARD OF TRUSTEES: TO DELEGATE TO THE CORPORATION'S EXECUTIVE OFFICERS AND KEY EMPLOYEES CERTAIN POWERS OF THE BOARD AS GOVERNED BY A SET OF POLICIES CREATED BY THE BOARD AND REGULARLY REVIEWED BY THE BOARD, OR A DESIGNATED BOARD COMMITTEE, FOR REVISION, AS NEEDED. 3) TO ADD A COMPENSATION COMMITTEE: THE COMPENSATION COMMITTEE SHALL DISCHARGE THE BOARD OF TRUSTEE'S RESPONSIBILITIES RELATING TO SETTING COMPENSATION FOR THE CORPORATION'S EXECUTIVE OFFICERS AND KEY EMPLOYEES. EACH COMPENSATION COMMITTEE MEMBER SHALL BE FREE FROM ANY RELATIONSHIPS OR CONFLICTS OF INTEREST WITH RESPECT TO THE CORPORATION OR THE CORPORATION'S STAFF THAT MAY IMPAIR, OR APPEAR TO IMPAIR, THE MEMBER'S ABILITY TO MAKE INDEPENDENT JUDGEMENTS REGARDING COMPENSATION. THE COMPENSATION COMMITTEE SHALL CONSIST OF NO FEWER THAN THREE (3) TRUSTEES WHO SHALL BE APPOINTED BY THE BOARD OF TRUSTEES, AND MAY BE REMOVED BY THE BOARD OF TRUSTEES WITH OR WITHOUT CAUSE. 4) REMOVED THE ABILITY FOR A SALARIED EMPLOYEE OR INDEPENDENT CONTRACTOR OF THE ORGANIZATION FROM BEING ELIGIBLE FOR MEMBERSHIP ON THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A SCHOLARSHIP AMERICA HAS AN ADVISORY GROUP CALLED THE HONOR ROLL TRUSTEES (HRT'S). THE HRT GROUP IS COMPRISED OF FORMER BOARD MEMBERS WHO HAVE BEEN OFF THE BOARD FOR AT LEAST ONE YEAR AND WERE SUBSEQUENTLY ELECTED BY THE BOARD TO JOIN THIS ADVISORY GROUP. THE HRT GROUP ELECTS ONE OF ITS MEMBERS TO SERVE A TWO YEAR TERM ON THE BOARD. THE GROUP ALSO SERVES AN ADVISORY ROLE FOR THE PRESIDENT AND STAFF OF SCHOLARSHIP AMERICA. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE MEETS, REVIEWS, AND APPROVES A DRAFT OF THE FORM 990. THE RESULTS OF THEIR REVIEW ARE THEN SHARED FOR FULL BOARD APPROVAL BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL BOARD MEMBERS AND EMPLOYEES SIGN THE CONFLICT OF INTEREST DISCLOSURE FORM. CONTRACTS, RELATIONSHIPS AND TRANSACTIONS WHERE A POTENTIAL CONFLICT OF INTEREST EXISTS MAY BE AUTHORIZED IF THE FOLLOWING STANDARDS ARE ADHERED TO: A) ONLY INDIVIDUALS WHO DO NOT HAVE A POTENTIAL CONFLICT OF INTEREST WITH RESPECT TO THE PROPOSED CONTRACT, RELATIONSHIP, OR TRANSACTION ARE AUTHORIZED TO APPROVE SUCH CONTRACT, RELATIONSHIP, OR TRANSACTION; B) THE COVERED PERSON WHO HAS THE POTENTIAL CONFLICT OF INTEREST SHALL NEITHER VOTE ON, NOR USE PERSONAL INFLUENCE WITH RESPECT TO, NOR PARTICIPATE IN (OTHER THAN TO PRESENT FACTUAL INFORMATION OR RESPOND TO QUESTIONS), THE DISCUSSIONS OR DELIBERATIONS RELATING TO SUCH CONTRACT, RELATIONSHIP, OR TRANSACTION AND, WHERE APPROVAL BY THE GOVERNANCE COMMITTEE IS REQUIRED, SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM; C) THE MATERIAL FACTS RELATING TO THE CONTRACT, RELATIONSHIP, OR TRANSACTION SHALL BE FULLY DISCLOSED TO THE GOVERNANCE COMMITTEE OR THE PRESIDENT/CEO, AS APPROPRIATE, AND THE GOVERNANCE COMMITTEE OR THE PRESIDENT SHALL OBTAIN AND RELY UPON APPROPRIATE DATA AS TO THE COMPARABILITY OF THE CONTRACT, RELATIONSHIP, OR TRANSACTION WITH APPROPRIATE EXTERNAL STANDARDS FOR CONTRACTS, TRANSACTIONS, OR RELATIONSHIPS INVOLVING FAIR MARKET VALUE AND ARM'S LENGTH BARGAINING; AND D) THE GOVERNANCE COMMITTEE OR THE PRESIDENT/CEO, AS APPROPRIATE, CONCURRENTLY WITH THE APPROVAL OF THE CONTRACT, RELATIONSHIP, OR TRANSACTION SHALL DOCUMENT THE BASIS FOR THE DETERMINATION REACHED BY NOTING: 1. THE TERMS OF THE CONTRACT, RELATIONSHIP, OR TRANSACTION AND THE DATE OF APPROVAL; 2. THE INDIVIDUALS PRESENT DURING DISCUSSION AND THOSE WHO VOTED; 3. COMPARABILITY DATA OBTAINED AND RELIED UPON; 4. ACTIONS TAKEN BY ANY COVERED PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO THE CONTRACT, RELATIONSHIP, OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES WHO OBTAIN RESEARCH AND INFORMATION TO MAKE A RECOMMENDATION TO THE FULL BOARD FOR THE COMPENSATION OF THE PRESIDENT/CEO, OTHER OFFICERS, AND HIGHLY-COMPENSATED EMPLOYEES BASED ON A REVIEW OF APPROPRIATE COMPARABILITY DATA THAT DOCUMENTS COMPENSATION LEVELS AND BENEFITS FOR SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. TO APPROVE THE COMPENSATION FOR THE PRESIDENT/CEO, OTHER OFFICERS, AND OTHER HIGHLY-COMPENSATED EMPLOYEES, THE BOARD MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED, IN MINUTES OF THE MEETING DURING WHICH THE COMPENSATION WAS APPROVED. DOCUMENTATION WILL INCLUDE: A) A DESCRIPTION OF THE COMPENSATION AND BENEFITS AND THE DATE IT WAS APPROVED; B) THE MEMBERS OF THE BOARD WHO WERE PRESENT DURING THE DISCUSSION ABOUT COMPENSATION AND BENEFITS, AND THE RESULTS OF THE VOTE; C) A DESCRIPTION OF THE COMPARABILITY DATA RELIED UPON AND HOW THE DATA WAS OBTAINED; AND D) ANY ACTIONS TAKEN (SUCH AS ABSTAINING FROM DISCUSSION AND VOTE) WITH RESPECT TO CONSIDERATION OF THE COMPENSATION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE BOARD BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE DECISION ON THE COMPENSATION AND BENEFITS. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2017 FOR THE PRESIDENT/CEO, CFO, AND HIGHEST COMPENSATED EMPLOYEES FOR COMPENSATION PACKAGES FOR 2018. FORM 990, PART VI, SECTION C, LINE 19 THE ANNUAL REPORT, ANNUAL AUDIT REPORT, AND FORM 990 ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE. THE ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT CURRENTLY AVAILABLE TO THE PUBLIC. PART VIII: STATEMENT OF REVENUE, LINE 1F: CONTRIBUTIONS RECEIVED AND SCHOLARSHIPS AWARDED INCLUDE AMOUNTS THAT SCHOLARSHIP AMERICA DOES NOT HAVE FINAL VARIANCE POWER OVER. THIS REPORTING IS CONSISTENT WITH PRIOR YEAR REPORTING. PART IX: STATEMENT OF FUNCTIONAL EXPENSES, LINE 2: CONTRIBUTIONS RECEIVED AND SCHOLARSHIPS AWARDED INCLUDE AMOUNTS THAT SCHOLARSHIP AMERICA DOES NOT HAVE FINAL VARIANCE POWER OVER. THIS REPORTING IS CONSISTENT WITH PRIOR YEAR REPORTING. FORM 990, PART XII, LINE 2C: NEITHER THE OVERSIGHT PROCESS FOR THE AUDIT OR THE SELECTION PROCESS OF THE INDEPENDENT ACCOUNTANT CHANGED DURING THE TAX YEAR.