2015-08-07T15:50:37-05:00 2014-12-31 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2014-01-01 042296967 SCHOLARSHIP AMERICA INC SCHO 9528307396 7900 INTERNATIONAL DR NO 500 MINNEAPOLIS MN 55425 RICHARD GREENE CFO 9528307396 2015-08-07 1 LAWRENCE H MOHR CPA P00447603 6128764500 2014 2016-02-25 16:41:14Z LAUREN SEGAL 7900 INTERNATIONAL DR NO 500 MINNEAPOLIS MN 55425 276872907 0 X WWW.SCHOLARSHIPAMERICA.ORG X 1961 MA TO MOBILIZE AMERICA THROUGH SCHOLARSHIPS AND EDUCATIONAL SUPPORT. 13 13 219 13100 0 0 135070904 156910250 5925855 14142679 11265137 11852748 616 -40374 152262512 182865303 145797079 167523026 0 0 4782194 10679979 0 0 2091837 3741021 7607902 154320294 185810907 -2057782 -2945604 172322872 172150262 43346193 53218989 128976679 118931273 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 $3.1 BILLION IN SCHOLARSHIP ASSISTANCE TO MORE THAN 2.0 MILLION STUDENTS SINCE 1958. SCHOLARSHIP AMERICA'S PROGRAMS HELP FUND BOTH ENTRY-LEVEL AND RENEWABLE, MULTI-YEAR SCHOLARSHIPS, AS WELL AS EMERGENCY FINANCIAL GRANTS. PROGRAMS INCLUDE DOLLARS FOR SCHOLARS, DREAMKEEPERS, THE DREAM AWARD SCHOLARSHIP PROGRAM, AND SCHOLARSHIP MANAGEMENT SERVICES. 0 0 177568150 167523026 13724844 SCHOLARSHIP MANAGEMENT SERVICES IS THE LEADING SCHOLARSHIP SERVICES PROGRAM IN THE COUNTRY, HELPING CORPORATIONS, FOUNDATIONS AND INDIVIDUALS DESIGN AND ADMINISTER SCHOLARSHIP AND RELATED EDUCATIONAL ASSISTANCE PROGRAMS. 1118073 417835 DOLLARS FOR SCHOLARS IS A NATIONAL NETWORK OF OVER 500 COMMUNITY-BASED, VOLUNTEER-DRIVEN AFFILIATED ORGANIZATIONS THAT PROVIDE SCHOLARSHIPS AND EDUCATIONAL SUPPORT TO LOCAL STUDENTS IN COMMUNITIES ACROSS THE COUNTRY. 299150 DREAMKEEPERS IS A COLLEGE-BASED EMERGENCY GRANT PROGRAM DESIGNED TO HELP STUDENTS WITH AN UNFORESEEN FINANCIAL EMERGENCY STAY IN COLLEGE. 739496 OTHER PROGRAM SERVICES INCLUDE THE FAMILIES OF FREEDOM SCHOLARSHIP PROGRAM AND OTHER RELATED EDUCATION PROGRAM RESEARCH AND COMMUNITY ENGAGEMENT ACTIVITIES. 739496 179724869 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 1 615 0 1 219 1 0 1 CA UK 0 0 0 0 0 0 0 0 X 13 13 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 MICHAEL RYAN CHAIR OF THE BOARD 5.00 X X 0 0 0 ROBERT BALLARD TRUSTEE, VICE CHAIR 3.00 X 0 0 0 MIM SCHRECK PAST CHAIR 5.00 X X 0 0 0 TIMOTHY CHRISTENSEN SECRETARY 5.00 X X 0 0 0 MICHAEL RYDER TREASURER 5.00 X X 0 0 0 JUDITH ALLEN TRUSTEE 5.00 X 0 0 0 J BARRY GRISWELL TRUSTEE 5.00 X 0 0 0 BARBARA KUZDZOL TRUSTEE 5.00 X 0 0 0 JAY MORRIS TRUSTEE 3.00 X 0 0 0 MARK QUICK TRUSTEE (PART YEAR) 3.00 X 0 0 0 SANDY ROBINSON TRUSTEE 3.00 X 0 0 0 SEEMA SHAH TRUSTEE 3.00 X 0 0 0 ROXANNE SPILLETT TRUSTEE 3.00 X 0 0 0 WILLIAM YOUNG TRUSTEE 3.00 X 0 0 0 LAUREN SEGAL PRESIDENT AND CEO 40.00 X 281300 0 30833 RICHARD GREENE CHIEF FINANCIAL OFFICER 40.00 X 178800 0 28435 GREG DEHN SENIOR VICE PRESIDENT, SMS 40.00 X 185800 0 11644 MAX ESPINOZA SENIOR VP PROGRAMS AND POLICY 40.00 X 170300 0 9393 MARY LARSON SENIOR VP MKTG AND DEVELOPMENT 40.00 X 160165 0 11551 RHIANNA QUINN RODDY EXECUTIVE DIRECTOR, FAMILIES OF FREEDOM 30.00 X 180300 0 32193 MIKE NYLUND VICE PRESIDENT OF SALES, SMS 40.00 X 160394 0 27464 AMY NELSON DIRECTOR OF SALES, SMS 40.00 X 113471 0 4281 1430530 0 155794 13 0 1 0 RBA INC 294 GROVE LANE E STE 100 WAYZATA MN 55391 SOFTWARE DEVELOPMENT AND CONSULTING 980636 ACT PO BOX 4072 IOWA CITY IA 52243 SUBCONTRACTOR FEES AND RENT 757228 AVANADE INC 818 STEWART STREET STE 400 SEATTLE WA 98101 SOFTWARE DEVELOPMENT 711141 MCKINLEY CONSULTING INC 6465 WAYZATA BLVD STE 970 MINNEAPOLIS MN 55426 CONSULTING 236753 HILL & COMPANY COMMUNICATIONS 1290 B STREET STE 201 HAYWARD CA 94541 MARKETING COMMUNICATIONS 133830 9 X 269200 156641050 156910250 MANAGEMENT FEES 900099 13724844 13724844 DOLLARS FOR SCHOLARS 900099 417835 417835 14142679 2312344 2312344 103507634 93967230 9540404 9540404 9540404 0 269200 40374 -40374 -40374 182865303 14142679 0 11812374 X 162747566 162747566 4775460 4775460 716812 716812 8208643 5327781 1552761 1328101 158626 114084 25316 19226 935546 645009 181839 108698 660352 414796 145358 100198 3874217 3043884 677675 152658 145581 57490 74745 13346 35020 35020 52516 52516 231737 115094 28907 87736 424085 305969 82298 35818 442131 318957 100868 22306 736367 463975 138801 133591 45113 42370 2522 221 635899 506931 101110 27858 137584 100722 24399 12463 MISCELLANEOUS 391178 344269 23769 23140 POSTAGE AND DELIVERY 245998 224975 9813 11210 PRINTING 210476 175537 19672 15267 185810907 179724869 3994201 2091837 35567397 22975587 1763210 1123365 2828370 2591915 244893 494728 9751439 6725223 2680454 3026216 127016465 139915265 1976330 1772771 245753 250415 172322872 172150262 1250974 2483041 1260882 1100623 1129275 84552 39705062 49550773 43346193 53218989 X 6924203 5664585 104798882 97315495 17253594 15951193 128976679 118931273 172322872 172150262 -2945604 -7099802 0 X X 0 1 X 1 0 X 140478327 143055784 151980658 135070904 156910250 727495923 140478327 143055784 151980658 135070904 156910250 727495923 25497887 701998036 3688280 3352273 2890246 800811 2312344 13043954 740539877 0.94800 0.97970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21954992 90871 779779 747168 3085190 18993284 20380843 615239 1147018 188108 21954992 20693045 43955 1001760 616554 741363 20380843 18055616 2014528 1122048 472890 26257 20693045 15986375 1992818 1485874 280587 1128865 18055615 0.01590 0.83160 0.15250 0 0 329436 329436 4848663 3049131 1799532 496623 89252 407371 4076717 3586840 489877 3026216 SCHOLARSHIPS PAYABLE 12303597 REFUNDABLE DEPOSITS 37247176 49550773 X 124480308 -7099802 40374 -7059428 131539736 52516 51273051 51325567 182865303 134525714 40374 40374 134485340 52516 51273051 51325567 185810907 PART X, LINE 2: 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, 2014 AND 2013. SCHOLARSHIP AMERICA'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2011 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. 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 XI, LINE 2D AND PART XII, LINE 2D: FUNDRAISING EXPENSES INCLUDED IN NET REVENUE ON 990 AND ON EXPENSE SCHEDULE ON AUDITED FINANCIAL STATEMENTS. PART XI, LINE 4B AND PART XII, LINE 4B: SCHOLARSHIP CONTRIBUTORS AND AWARDS OVER WHICH SCHOLARSHIP AMERICA DOES NOT HAVE VARIANCE POWER. 1 RUSSIA/INDEPENDENT STATES GRANTMAKING SCHOLARSHIP AWARD 33000 SUB-SAHARAN AFRICA GRANTMAKING SCHOLARSHIP AWARD 39800 SOUTH ASIA GRANTMAKING SCHOLARSHIP AWARD 157450 SOUTH AMERICA GRANTMAKING SCHOLARSHIP AWARD 260700 EAST ASIA AND THE PACIFIC GRANTMAKING SCHOLARSHIP AWARD 769475 NORTH AMERICA GRANTMAKING SCHOLARSHIP AWARD 2187744 MIDDLE EAST AND NORTH AFRICA GRANTMAKING SCHOLARSHIP AWARD 144200 EUROPE GRANTMAKING SCHOLARSHIP AWARD 1124891 CENTRAL AMERICA/CARIBBEAN GRANTMAKING SCHOLARSHIP AWARD 58200 0 0 0 0 0 0 4717260 58200 4775460 EAST ASIA/PACIFIC SCHOLARSHIPS 5000 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 5000 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 27650 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 30250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 27250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9125 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 30150 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7980 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 8750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 20106 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 13937 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 80154 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 123475 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 11750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 17000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 114850 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 30850 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 8000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 12150 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 21600 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 12000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 11250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 12000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 14600 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 8000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 5000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 41100 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 88425 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 28000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 68100 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 8138 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 6500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 41850 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10850 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 16500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7775 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 39750 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 18500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 22100 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 114575 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 22150 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9000 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 14500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 159250 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 144450 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 10100 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 51325 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 65875 CHECK OR ET SOUTH AMERICA SCHOLARSHIPS 6500 CHECK OR ET SOUTH AMERICA SCHOLARSHIPS 6000 CHECK OR ET CENTRAL AMERICA/CARIBBEAN SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 10493 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 11634 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 16477 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6000 CHECK OR ET SOUTH ASIA SCHOLARSHIPS 5000 CHECK OR ET SOUTH ASIA SCHOLARSHIPS 10000 CHECK OR ET SOUTH ASIA SCHOLARSHIPS 5000 CHECK OR ET SOUTH ASIA SCHOLARSHIPS 6000 CHECK OR ET SOUTH ASIA SCHOLARSHIPS 5000 CHECK OR ET SOUTH ASIA SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 10300 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 9250 CHECK OR ET MIDDLE EAST/NORTH AFRICA SCHOLARSHIPS 10000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 10000 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 7500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 7500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 8500 CHECK OR ET NORTH AMERICA SCHOLARSHIPS 9000 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 10750 CHECK OR ET EAST ASIA/PACIFIC SCHOLARSHIPS 9500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5868 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5437 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 10127 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 7500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6650 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 5000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 25725 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 14750 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 21350 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 11500 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 9000 CHECK OR ET EUROPE/ICELAND/GREENLAND SCHOLARSHIPS 6600 CHECK OR ET SCHOLARSHIPS CENT. AMERICA/CARIBBEAN 18 42700 CHECK OR ET SCHOLARSHIPS EAST ASIA/PACIFIC 227 588350 CHECK OR ET SCHOLARSHIPS EUROPE/ICELAND/GREENLAND 238 610100 CHECK OR ET SCHOLARSHIPS MIDDLE EAST/NORTH AFRICA 43 124400 CHECK OR ET SCHOLARSHIPS NORTH AMERICA 75 184029 CHECK OR ET SCHOLARSHIPS RUSSIA/NEWLY IND. STATES 10 31000 CHECK OR ET SCHOLARSHIPS SOUTH AMERICA 69 190900 CHECK OR ET SCHOLARSHIPS SOUTH ASIA 28 55900 CHECK OR ET SCHOLARSHIPS SUB-SAHARAN AFRICA 18 39800 CHECK OR ET 0 0 1 0 0 0 PART I, LINE 2: GRANTS OUTSIDE THE UNITED STATES ARE COMPETITIVELY AWARDED USING THE PROCESS DESCRIBED IN SCHEDULE I (GRANTS...IN THE UNITED STATES). IN ADDITION FOR EACH STUDENT SCHOLARSHIP AMERICA OBTAINS A VERIFICTION 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 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. AWARD BANQUET 269200 269200 40374 269200 269200 40374 40374 -40374 1 SCHOLARSHIPS 74189 162747566 SCHEDULE I PART IV: 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; 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 0 0 0 0 0 0 0 0 0 LAUREN SEGAL PRESIDENT AND CEO 281300 0 0 0 0 0 8079 0 22754 0 312133 0 0 0 RICHARD GREENE CHIEF FINANCIAL OFFICER 178800 0 0 0 0 0 4918 0 23517 0 207235 0 0 0 GREG DEHN SENIOR VICE PRESIDENT, SMS 185800 0 0 0 0 0 3478 0 8166 0 197444 0 0 0 MAX ESPINOZA SENIOR VP PROGRAMS AND POLICY 170300 0 0 0 0 0 0 0 9393 0 179693 0 0 0 MARY LARSON SENIOR VP MKTG AND DEVELOPMENT 160165 0 0 0 0 0 3000 0 8551 0 171716 0 0 0 RHIANNA QUINN RODDY EXECUTIVE DIRECTOR, FAMILIES OF FREE 180300 0 0 0 0 0 4800 0 27393 0 212493 0 0 0 MIKE NYLUND VICE PRESIDENT OF SALES, SMS 160394 0 0 0 0 0 4803 0 22661 0 187858 0 0 0 X 10 319099 FAIR MARKET VALUE X OFFICE SUPPLIES 1 500 FAIR MARKET VALUE 0 1 1 PART I, COLUMN (B): ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN PART 1, COLUMN (B). PART I, LINE 32B: SCHOLARSHIP AMERICA USES A THIRD PARTY BROKER TO RECEIVE STOCK CONTRIBUTIONS MADE TO THE ORGANIZATION. ADDITIONALLY, THE THIRD PARTY BROKER DISPOSES OF STOCK CONTRIBUTIONS IN ACCORDANCE WITH THE ORGANIZATION'S POLICIES. FORM 990, PART VI, SECTION A, LINE 4 BYLAWS WERE AMENDED TO CHANGE FISCAL YEAR ENDED TO DECEMBER 31. 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 11 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 IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY ALL BOARD MEMBERS AND EMPLOYEES SIGN THE CONFLICT OF INTEREST DISCLOSURE FORM. FORMS ARE REVIEWED BY THE GOVERNANCE COMMITTEE. BASED ON THE RESULTS OF THAT REVIEW AND DISCUSSION WITH THE INVOLVED INDIVIDUAL ANY APPROPRIATE ACTION IS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS SET BY THE BOARD IN CONJUNCTION WITH THE PRESIDENT'S REVIEW. THE COMPENSATION OF KEY STAFF IS APPROVED BY THE BOARD IN CONJUNCTION WITH THEIR INDIVIDUAL PERFORMANCE REVIEWS AND BASED ON THE RECOMMENDATION FROM THE PRESIDENT. COMPENSATION IS DETERMINED AFTER REVIEWING COMPARABLE COMPENSATION BASED ON SURVEYS AND/OR CONSULTATION WITH OUTSIDE COMPENSATION EXPERTS. COMPENSATION OF ALL OTHER EMPLOYEES IS SET BY MANAGEMENT AND HR DEPARTMENT BASED ON COMPENSATION SURVEYS AND ANNUAL PERFORMANCE REVIEWS. FORM 990, PART VI, SECTION C, LINE 19 THE ANNUAL REPORT, ANNUAL AUDIT REPORT, AND FORM 990 ARE AVAILABLE TO THE PUBLIC ON THE WEBSITE. ARTICLES AND BY-LAWS ARE AVAILABLE 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. FORM 990, PART I, LINES 8-19: DURING THE PREVIOUS PERIOD, SCHOLARSHIP AMERICA, INC. ADOPTED A CALENDAR TAX YEAR ENDED DECEMBER 31, 2013. ACCORDINGLY, THE PRIOR YEAR AMOUNTS REPORTED ON PART I REPRESENT THE ABBREVIATED REPORTING PERIOD.