2022-09-09T13:46:54-05:00 2021-12-31 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2021-01-01 042296967 SCHOLARSHIP AMERICA INC SCHO 9528307396 7900 INTERNATIONAL DR 500 MINNEAPOLIS MN 55425 RICHARD GREENE CFO 9528307396 2022-09-06 1 RICHARD GREENE XXX-XX-XXXX LAWRENCE H MOHR CPA P00447603 6128764500 2022-09-06 X 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ROBERT BALLARD 7900 INTERNATIONAL DR 500 MINNEAPOLIS MN 55425 294460325 0 X WWW.SCHOLARSHIPAMERICA.ORG X 1961 MA ELIMINATE BARRIERS TO EDUCATIONAL SUCCESS SO THAT ANY STUDENT CAN PURSUE THEIR DREAM. 21 21 256 10000 0 0 179336738 200386451 14504239 13445971 2675591 3614467 41940 -66749 196558508 217380140 182025774 186268195 0 0 13914118 14252917 0 0 1386111 5158481 6896003 201098373 207417115 -4539865 9963025 150354223 171886443 52678768 61710352 97675455 110176091 X SEE SCHEDULE OSCHOLARSHIP AMERICA IS A NATIONAL EDUCATION SERVICE ORGANIZATION. OUR VISION IS TO EMPOWER AN AMERICA WHERE THOSE WITH THE MOST NEED HAVE THE OPPORTUNITY THROUGH EQUITABLE PATHWAYS TO EDUCATION AND TRAINING. SCHOLARSHIP AMERICA HAS DISTRIBUTED MORE THAN $4.9 BILLION IN SCHOLARSHIP ASSISTANCE TO MORE THAN 2.9 MILLION STUDENTS SINCE 1958. SCHOLARSHIP AMERICA'S PROGRAMS ADVANCE EQUITY AND PROVIDE STUDENTS WITH FINANCIAL, CULTURAL AND SOCIAL SUPPORTS ALONG THEIR ACADEMIC JOURNEY TO HELP THEM PERSIST AND ATTAIN SUCCESS. PROGRAMS INCLUDE DOLLARS FOR SCHOLARS, EMERGENCY AID, THE DREAM AWARD SCHOLARSHIP PROGRAM, AND SCHOLARSHIP MANAGEMENT SERVICES. 0 0 195894638 186268195 12887896 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. 789352 558075 DOLLARS FOR SCHOLARS (DFS) AND OTHER STUDENT PROGRAMS IS COMPRISED OF A NATIONAL NETWORK OF NEARLY 460 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. 103805 OTHER PROGRAM SERVICES INCLUDE THE FAMILIES OF FREEDOM SCHOLARSHIP PROGRAM AND OTHER RELATED EDUCATION PROGRAM RESEARCH, POLICY AND COMMUNITY ENGAGEMENT ACTIVITIES. 196787795 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 3038 0 1 256 1 0 1 CA 0 0 0 0 0 0 0 0 0 0 X 21 21 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 TINA LEE CHAIR OF THE BOARD 5.00 X X 0 0 0 MICHAEL D RYAN PAST CHAIR OF THE BOARD 5.00 X X 0 0 0 HAZEL M MCNEILAGE SECRETARY 5.00 X X 0 0 0 RICHARD J SCHWAB TREASURER, FINANCE & INV. 5.00 X X 0 0 0 DOUGLAS J MELLO TRUSTEE 3.00 X 0 0 0 WILLIAM C YOUNG TRUSTEE 5.00 X 0 0 0 ROXANNE SPLILLETT TRUSTEE 3.00 X 0 0 0 MARK P TURCHAN TRUSTEE 5.00 X 0 0 0 MARK L MADRID TRUSTEE 3.00 X 0 0 0 LUCINDA D ROBB TRUSTEE 5.00 X 0 0 0 MICHAEL MANEY TRUSTEE 3.00 X 0 0 0 JOSEPH PALOMBO TRUSTEE 3.00 X 0 0 0 MICHAEL RYDER TRUSTEE 3.00 X 0 0 0 ALAIN KARAOGLAN TRUSTEE 3.00 X 0 0 0 JEFFREY MSILVERMAN TRUSTEE 3.00 X 0 0 0 TREASA G BOWERS TRUSTEE 3.00 X 0 0 0 JAMES DLUGOS TRUSTEE 3.00 X 0 0 0 M SALMAN RAVALA TRUSTEE 3.00 X 0 0 0 LISA MCGEOUGH TRUSTEE - PART YEAR 3.00 X 0 0 0 SANTIAGO MARQUEZ TRUSTEE 3.00 X 0 0 0 MUNEERA CARR TRUSTEE 3.00 X 0 0 0 AUTUMN MANNING TRUSTEE 3.00 X 0 0 0 ROBERT BALLARD PRESIDENT AND CEO 40.00 X 335981 0 44664 RICHARD GREENE CHIEF FINANCIAL OFFICER 40.00 X 236362 0 36245 RHIANNA QUINN RODDY EXECUTIVE DIRECTOR, FOF 40.00 X 227047 0 43695 JENNIFER MENKE VP, HUMAN RESOURCES 40.00 X 183619 0 30487 ANDREA SMITH VP, DEV. & MARKETING 40.00 X 190306 0 16735 MICHAEL NYLUND VP, PROD. STRATEGY & PRT. SOLUTIONS 40.00 X 187405 0 16831 BONNIE MELVILLE VP, OPERATIONS 40.00 X 187726 0 15092 1548446 0 203749 12 0 1 0 EXPERIENCE IT 6875 LUCY RIDGE LANE CHANHASSEN MN 55317 SOFTWARE DEVELOPMENT 673152 CDW DIRECT PO BOX 75723 CHICAGO IL 606755723 TECHNOLOGY HARDWARE 241491 TAYLOR DIGITAL 1725 ROE CREST DRIVE NORTH MAKATO MN 56003 SOFTWARE DEVELOPMENT 233340 EXPRESS EMPLOYMENT PROFESSIONALS PO BOX 203901 DALLAS TX 75320 STAFFING SERVICES 196460 INTERNET CONNECTIONS INC PO BOX 205 MANKATO MN 56002 SOFTWARE DEVELOPMENT 190288 11 X 746480 2229200 197410771 1512149 200386451 MANAGEMENT FEES 541900 12887896 12887896 DOLLARS FOR SCHOLARS/OTHER 541900 558075 558075 13445971 1815733 1815733 78779686 76980952 1798734 1798734 1798734 0 746480 99233 -99233 -99233 OTHER INCOME 541900 32484 32484 32484 217380140 13445971 0 3547718 X 179635259 179635259 6632936 6632936 813598 813598 10753231 6561551 3200216 991464 305697 185029 92710 27958 1576404 1072238 479714 24452 803987 469419 267204 67364 101478 101478 65512 65512 141540 141540 3067159 1024592 2012722 29845 280510 84962 193239 2309 422374 304275 80904 37195 360312 8285 352027 473604 180892 209444 83268 114378 22410 52197 39771 68058 47532 14816 5710 1475363 367317 1079594 28452 224234 149171 53544 21519 MISCELLANEOUS 101481 41927 32750 26804 207417115 196787795 9243209 1386111 34940971 31621854 2394351 2608192 2353642 2103902 486090 404132 16230129 11105206 5346510 5124923 101848090 124477894 2190800 4964100 551421 347863 242348 233583 150354223 171886443 4334545 4779521 2708993 2563877 45635230 54366954 52678768 61710352 X 10369082 9062192 87306373 101113899 97675455 110176091 150354223 171886443 9963025 2537611 0 X X 0 1 X 1 0 X 171944877 169977365 183567534 179336738 200386451 905212965 171944877 169977365 183567534 179336738 200386451 905212965 89600088 815612877 5239888 2649667 2046440 1688351 1815733 13440079 116081 199719 97626 127403 32484 573313 919226357 68101992 0.88730 0.90330 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22642622 475 1595362 698108 904855 22635496 20940667 53801 2189647 442218 99275 22642622 16927556 2089318 2623126 503887 195446 20940667 17934208 500250 -891694 520710 94498 16927556 15896845 808441 1927812 600492 98398 17934208 0.09746 0.63759 0.26495 0 0 312966 312966 5121446 4241430 880016 496623 376659 119964 5076241 4698417 377824 5222853 1788700 3434153 5124923 SCHOLARSHIPS PAYABLE 23317804 REFUNDABLE DEPOSITS 31049150 54366954 X 169575970 2537611 99233 2636844 166939126 141540 50299474 50441014 217380140 157075334 99233 99233 156976101 141540 50299474 50441014 207417115 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. UNDER THIS GUIDANCE, SCHOLARSHIP AMERICA MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF SCHOLARSHIP AMERICA AND VARIOUS TAX POSITIONS RELATED TO POTENTIAL SOURCES OF UNRELATED BUSINESS INCOME. NO LIABILITY HAS BEEN RECOGNIZED BY SCHOLARSHIP AMERICA FOR UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021 AND 2020. SCHOLARSHIP AMERICA'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 99,233. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS WITHOUT VARIANCE POWER 50,299,474. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 99,233. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS WITHOUT VARIANCE POWER 50,299,474. 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 92050 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING SCHOLARSHIP AWARD 928050 EUROPE 0 0 GRANTMAKING SCHOLARSHIP AWARD 1385917 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 194800 NORTH AMERICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 2802239 RUSSIA/INDEPENDENT STATES 0 0 GRANTMAKING SCHOLARSHIP AWARD 64692 SOUTH AMERICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 545213 SOUTH ASIA 0 0 GRANTMAKING SCHOLARSHIP AWARD 518075 SUB-SAHARAN AFRICA 0 0 GRANTMAKING SCHOLARSHIP AWARD 101900 CENTRAL AMERICA/CARIBBEAN INVESTMENT 4964100 0 0 0 0 0 0 6531036 5066000 11597036 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 6865 CHECK OR EFT 0 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 10000 CHECK OR EFT 0 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 8000 CHECK OR EFT 0 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 13858 CHECK OR EFT 0 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 21500 CHECK OR EFT 0 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 10000 CHECK OR EFT 0 EUROPE/ICELAND/PACIFIC SCHOLARSHIP 6000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 36550 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 60281 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 13500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 47500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9072 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9300 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 23900 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7315 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6667 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6237 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5900 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 67500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 132308 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 22750 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 21000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 17500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 56400 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 54375 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7250 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 15500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6767 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 16835 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 12000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 9200 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 33750 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 86742 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 12500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 36500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10917 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 66500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 10000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 56857 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7750 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 23500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 27500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 16982 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 56050 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 7000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 16400 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 6000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 141785 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 15500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 15600 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 203562 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 30936 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 17500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 12135 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 11500 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 95583 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 57800 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 8000 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 101200 CHECK OR EFT 0 NORTH AMERICA SCHOLARSHIP 5625 CHECK OR EFT 0 84 0 SCHOLARSHIPS CENT. AMERICA/CARIBBEAN 22 92050 CHECK OR ET SCHOLARSHIPS EAST ASIA/PACIFIC 322 904550 CHECK OR ET SCHOLARSHIPS EUROPE/ICELAND/GREENLAND 410 1283694 CHECK OR ET SCHOLARSHIPS MIDDLE EAST/NORTH AFRICA 49 188300 CHECK OR ET SCHOLARSHIPS NORTH AMERICA 261 686559 CHECK OR ET SCHOLARSHIPS RUSSIA/NEWLY IND. STATES 23 64692 CHECK OR ET SCHOLARSHIPS SOUTH AMERICA 182 545213 CHECK OR ET SCHOLARSHIPS SOUTH ASIA 149 506875 CHECK OR ET SCHOLARSHIPS SUB-SAHARAN AFRICA 26 101900 CHECK OR ET 1 0 0 0 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 III ACCOUNTING 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 2021 746480 746480 99233 746480 746480 99233 99233 -99233 1 SCHOLARSHIPS 77888 179635259 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 335981 0 0 0 0 0 9600 0 35064 0 380645 0 0 0 RICHARD GREENE CHIEF FINANCIAL OFFICER 231362 0 0 0 5000 0 6990 0 29255 0 272607 0 0 0 RHIANNA QUINN RODDY EXECUTIVE DIRECTOR, FOF 227047 0 0 0 0 0 7080 0 36615 0 270742 0 0 0 JENNIFER MENKE VP, HUMAN RESOURCES 178619 0 0 0 5000 0 5550 0 24937 0 214106 0 0 0 ANDREA SMITH VP, DEV. & MARKETING 190306 0 0 0 0 0 5750 0 10985 0 207041 0 0 0 MICHAEL NYLUND VP, PROD. STRATEGY & PRT. SOLUTIONS 187405 0 0 0 0 0 5225 0 11606 0 204236 0 0 0 BONNIE MELVILLE VP, OPERATIONS 187726 0 0 0 0 0 5225 0 9867 0 202818 0 0 0 X 4 1512149 FAIR MARKET VALUE 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 BYLAWS WERE AMENDED DURING THE TAX YEAR. THE AMENDMENT INCLUDED A SIGNIFICANT CHANGE AS DEFINED BY THE FORM 990 INSTRUCTIONS. THE IMMEDIATE PAST CHAIR BOARD OF TRUSTEES OFFICER POSITION WAS CHANGED TO AN OPTIONAL POSITION. WHILE IT IS THE INTENT TO HAVE AN IMMEDIATE PAST CHAIR, THE DECISION TO SEAT AN IMMEDIATE PAST CHAIR, OR NOT, SHALL ULTIMATELY BE DECIDED BY THE BOARD CHAIR AND THE GOVERNANCE COMMITTEE CHAIR WITH UNANIMOUS APPROVAL BY GOVERNANCE COMMITTEE MEMBERS. 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 2021 FOR THE PRESIDENT/CEO, CFO, AND HIGHEST COMPENSATED EMPLOYEES FOR COMPENSATION PACKAGES FOR 2022. 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.