2015-01-22T11:15:51-06:00 2014-08-31 391173131 SCHENCK SC PO BOX 23819 GREEN BAY WI 543053819 990 2013-09-01 391044089 SCHOLARSHIPS INCORPORATED SCHO 9208569088 2301 RIVERSIDE DRIVE GREEN BAY WI 54301 LORRI CISLER PRESIDENT 9205698411 2014-12-23 1 THOMAS L KARMAN P00239197 9204367800 2014-12-22 2013 2016-04-25 22:37:26Z LORRI CISLER 2301 RIVERSIDE DRIVE GREEN BAY WI 54301 3084180 0 X WWW.SCHOLARSHIPSINC.ORG X 1962 WI SCHOLARSHIPS, INC. IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO ENCOURAGE AND INVEST IN AREA STUDENTS TO SUCCEED IN HIGHER EDUCATION. 8 8 7 50 0 0 587603 677251 10520 13260 314209 508315 -14532 -32005 897800 1166821 414400 464125 0 0 174831 209633 0 0 31486 107030 115702 696261 789460 201539 377361 7973526 9320908 189242 574774 7784284 8746134 X SCHOLARSHIPS, INC. IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO ENCOURAGE AND INVEST IN AREA STUDENTS TO SUCCEED IN HIGHER EDUCATION. 1 1 618408 464125 13260 THROUGH SCHOLARSHIPS AND COLLEGE READINESS PROGRAMMING, SCHOLARSHIPS, INC. PROVIDES FINANCIAL ASSISTANCE AND ENCOURAGEMENT TO LOCAL STUDENTS AS THEY EXPLORE HIGHER EDUCATION OPPORTUNITIES. THE ORGANIZATION IS A 501(C)(3) NON-PROFIT, FUNDED BY FORWARD-THINKING DONORS AND SUPPORTED BY A DIVERSE GROUP OF COMMUNITY VOLUNTEERS. SCHOLARSHIPS, INC. ATTRACTS, ADMINISTERS, AND DISTRIBUTES FINANCIAL CONTRIBUTIONS TO QUALIFIED AND WORTHY STUDENTS WHO SEEK A COLLEGE EDUCATION, AND PROVIDES PROGRAMMING THAT ENCOURAGES EDUCATIONAL ATTAINMENT AND PERSONAL GROWTH OF AREA STUDENTS.SCHOLARSHIPS AWARDED BY SCHOLARSHIPS, INC. ARE BASED ON FINANCIAL NEED AND SERIOUS CONSIDERATION IS ALSO GIVEN TO ACADEMICS, COMMUNITY SERVICE, LEADERSHIP, AND CO-CURRICULARS. IN 2014, THE ORGANIZATION AWARDED $697,000 TO AREA STUDENTS. THE NEW SCHOLARS PROGRAM ENCOURAGES FIRST-GENERATION, COLLEGE BOUND STUDENTS TO PREPARE FOR AND PERSEVERE THROUGH THE COLLEGE-GOING PROCESS STARTING IN SIXTH GRADE. 618408 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 7 1 0 0 0 0 0 1 1 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 WI X JOANNE ANGELI 9208569088 2301 RIVERSIDE DRIVE GREEN BAY WI 54301 LORRI CISLER PRESIDENT 2.00 X X 0 0 0 DIANE LIEBMANN VICE PRESIDENT 2.00 X X 0 0 0 MARK FISCHER TREASURER 2.00 X X 0 0 0 JULIA WALLACE SECRETARY 1.00 X X 0 0 0 TERESA BRAY BOARD MEMBER 1.00 X 0 0 0 HEIDI RADISH BOARD MEMBER 1.00 X 0 0 0 ELAINE WAGNER BOARD MEMBER 1.00 X 0 0 0 DEBORAH VANDYK BOARD MEMBER 1.00 X 0 0 0 MICHELLE MCKINNON BOARD MEMBER 1.00 X 0 0 0 GISELLE SIMONS BOARD MEMBER 1.00 X 0 0 0 JOANNE ANGELI CEO 40.00 X 87397 0 13643 87397 0 13643 0 0 0 0 0 56175 621076 8580 677251 ADMINISTRATIVE FEES 611710 13260 13260 13260 114797 114797 2274273 1878421 2334 395852 -2334 393518 393518 4595 56175 36604 -32009 -32009 OTHER 611710 4 4 4 1166821 13260 0 476310 464125 464125 107217 45684 41072 20461 78333 66631 8508 3194 11421 6910 3049 1462 12662 7660 3381 1621 6500 6500 8135 8135 45007 45007 205 205 3965 2681 1284 23676 15241 6576 1859 10408 4163 5204 1041 5154 2999 2040 115 5050 449 4152 449 1516 1516 MISCELLANEOUS 6086 1660 4426 789460 618408 139566 31486 44803 52126 63088 385564 42250 5260 8005 7837 9805 3413 7207 6392 6937176 7914365 869853 947933 1144 1431 7973526 9320908 4224 7456 32050 343100 152968 224218 189242 574774 X 5977037 6797800 937394 1000401 869853 947933 7784284 8746134 7973526 9320908 377361 584489 0 X X 0 1 X 1 0 X 196610 201245 866982 587603 677251 2529691 196610 201245 866982 587603 677251 2529691 1061867 1467824 154974 252297 71514 138548 114797 732130 209 10 261 3 4 487 3262308 65878 0.44990 0.47320 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 9805 3413 6392 6392 BENEFICIAL INTEREST IN IRREVOCABLE TRUST 947933 F 947933 X 1747613 584489 4706 36604 625799 1121814 45007 45007 1166821 785763 4706 36604 41310 744453 45007 45007 789460 PART IV, LINE 2B: SCHOLARSHIPS INCORPORATED HAS AN AGENCY RELATIONSHIP WITH SEVERAL ORGANIZATIONS WHEREBY SCHOLARSHIPS INCORPORATED RECEIVES DONATIONS AND PAYS OUT SCHOLARSHIPS ON BEHALF OF THESE ORGANIZATIONS. SCHOLARSHIPS INCORPORATED RECEIVES ADMINISTRATIVE FEES FROM THESE ORGANIZATIONS FOR HANDLING THESE FUNDS FOR THEM. ALL REVENUES AND EXPENSES ARE REPORTED IN A FISCAL AGENCY LIABILITY ACCOUNT. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). THE ORGANIZATION IS ALSO EXEMPT FROM WISCONSIN INCOME TAXES. PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES ARE INCLUDED IN MANAGEMENT AND GENERAL EXPENSES, IF APPLICABLE. THE ORGANIZATION HAD NO INTEREST AND PENALTIES RELATED TO INCOME TAXES FOR THE YEAR ENDED AUGUST 31, 2014. THE ORGANIZATION'S FEDERAL RETURNS ARE SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THEY ARE FILED AND ITS STATE RETURNS ARE SUBJECT TO EXAMINATION GENERALLY FOR FOUR YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 36604. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 36604. LAMP OF KNOWLEDGE 60770 56175 4595 10641 12000 13963 60770 56175 4595 10641 12000 13963 36604 -32009 1 SCHOLARSHIPS 290 464125 PART I, LINE 2: VERIFICATION OF BUDGETED AMOUNTS TO ACTUAL AS WELL AS FINANCE COMMITTEE OVERSIGHT. FORM 990, PART III, LINE 2 SCHOLARSHIPS, INC. LAUNCHED THE NEW SCHOLARS COLLEGE READINESS PROGRAM IN AUGUST 2014. NEW SCHOLARS IS A PROGRAM OF SCHOLARSHIPS, INC. THAT SUPPORTS AREA STUDENTS ON THEIR PATH TO HIGHER EDUCATION BY BECOMING COLLEGE SUCCESS AND SCHOLARSHIP READY. THIS PILOT PROGRAM IS CREATED TO INSPIRE GROWTH AND ENCOURAGE MIDDLE SCHOOL STUDENTS TO DEVELOP THEIR FULL POTENTIAL BY ENGAGING THEM IN ACTIVITIES THAT WILL COMPLEMENT THE REGULAR SCHOOL DAY. NEW SCHOLARS SETS ITSELF APART FROM OTHER COLLEGE READINESS PROGRAMS IN THE AREA BY OFFERING AN INCENTIVE-BASED SCHOLARSHIP, ACTIVE PARENT PARTICIPATION, AND A 7 1/2-YEAR COMMITMENT TO THE STUDENT. THE PURPOSE OF THE COLLEGE READINESS PROGRAM IS TO HELP STUDENTS WITH FINANCIAL NEED BECOME COLLEGE SUCCESS AND SCHOLARSHIP READY. THE PRIMARY OUTCOME WILL BE AN INCREASE IN THE NUMBER OF MODEST INCOME AND FIRST-GENERATION STUDENTS (TRADITIONALLY UNDER-REPRESENTED) WHO PURSUE AND COMPLETE A POST-SECONDARY DEGREE. FORM 990, PART III, LINE 3 A NEW FORMULA WAS IMPLEMENTED TO DETERMINE FINANCIAL NEED. THIS UPDATED PROCESS FOCUSES ON FUND DISTRIBUTION TO BE FOR THE MOST NEEDY OF STUDENT FROM THE APPLICANT POOL, WHILE STILL MAINTAINING THAT THOSE STUDENTS HAVE ALSO PUT THEIR BEST EFFORT FORWARD TOWARD ACADEMIC SUCCESS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS INITIALLY REVIEWED BY THE PRESIDENT AND TREASURER, AND THEN IT IS PRESENTED TO THE ENTIRE BOARD IN DRAFT FORM AT THE ANNUAL MEETING IN NOVEMBER. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED EACH YEAR BY ALL BOARD MEMBERS AND EACH MEMBER SIGNS THE DOCUMENT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS COMPARABLE DATA FROM VARIOUS SOURCES INCLUDING COMPENSATION OF SIMILAR ORGANIZATIONS AND MAKES THEIR DETERMINATION FROM THERE. PERFORMANCE IS ALSO USED TO DETERMINE SALARIES. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR THE PROCESS USED TO SELECT AN INDEPENDENT ACCOUNTANT.