Civic Intelligence

School Choice Scholarships Inc

EIN 31-1589289 • 501(c)3 • Louisville, KY

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Profile

Changing lives forever through education. We help low-income families with children in kindergarten through 8th grade throughout the louisville, kentucky area who want the best possible education at their choice of schools. We help offset the cost of private and parochial schools for families with financial need. We also provide parent education classes and support. All parents of scholarship recipients must attend at least four classes during the course of the school year. Topics covered range from financial education to substance abuse prevention to tutoring services available.

503 Rolling LnLouisville, KY 40207

www.schoolchoiceky.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.70x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

0.49x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

98th percentile

98%

Higher net margin than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

84th percentile

$6,000

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

27th percentile

-28%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

94th percentile

146%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$285,262

Down $112,803 (-28%) from 2020

Liabilities

Down

$200,138

Down $522,700 (-72%) from 2020

Net Assets

Up

$85,124

Up $409,897 (+126%) from 2020

Operations
Liabilities / Revenue92nd percentileNet Margin98th percentile

Revenue

Up

$406,798

Up $241,692 (+146%) from 2020

Expenses

Down

$9,214

Down $163,039 (-95%) from 2020

Net Income

Up

$397,584

Up $404,731 (+5663%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth27th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,142,158Liabilities 2010: $696,652Net Assets 2010: $445,5062010Assets 2011: $896,725Liabilities 2011: $625,869Net Assets 2011: $270,8562011Assets 2012: $751,080Liabilities 2012: $630,745Net Assets 2012: $120,3352012Assets 2013: $567,582Liabilities 2013: $306,869Net Assets 2013: $260,7132013Assets 2014: $599,770Liabilities 2014: $426,241Net Assets 2014: $173,5292014Assets 2015: $816,074Liabilities 2015: $516,310Net Assets 2015: $299,7642015Assets 2016: $861,838Liabilities 2016: $514,882Net Assets 2016: $346,9562016Assets 2017: $847,215Liabilities 2017: $535,211Net Assets 2017: $312,0042017Assets 2018: $702,101Liabilities 2018: $720,141Net Assets 2018: -$18,0402018Assets 2019: $415,282Liabilities 2019: $733,778Net Assets 2019: -$318,4962019Assets 2020: $398,065Liabilities 2020: $722,838Net Assets 2020: -$324,7732020Assets 2021: $285,262Liabilities 2021: $200,138Net Assets 2021: $85,1242021

Highlighted filing

2021

Assets$285,262
Liabilities$200,138
Net Assets$85,124
Open 2021 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $643,6632010Expenses 2011: $549,4972011Expenses 2012: $631,8052012Expenses 2013: $560,3102013Revenue 2014: $570,226Expenses 2014: $660,599Net Income 2014: -$90,3732014Revenue 2015: $833,989Expenses 2015: $700,207Net Income 2015: $133,7822015Revenue 2016: $810,650Expenses 2016: $753,381Net Income 2016: $57,2692016Revenue 2017: $739,612Expenses 2017: $777,004Net Income 2017: -$37,3922017Revenue 2018: $343,348Expenses 2018: $672,785Net Income 2018: -$329,4372018Revenue 2019: $277,373Expenses 2019: $579,243Net Income 2019: -$301,8702019Revenue 2020: $165,106Expenses 2020: $172,253Net Income 2020: -$7,1472020Revenue 2021: $406,798Expenses 2021: $9,214Net Income 2021: $397,5842021

Highlighted filing

2021

Revenue$406,798
Expenses$9,214
Net Income$397,584
Open 2021 Filing

Filings

Most recent year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$285,262
Liabilities
$200,138
Net assets
$85,124
Revenue
$406,798
Expenses
$9,214
Net income
$397,584
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.29$0.20$0.09$0.41$0.01$0.40
2020Detailed filing. Detailed filing data is available for this year.$0.40$0.72$0.32$0.17$0.17$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.42$0.73$0.32$0.28$0.58$0.30
2018Detailed filing. Detailed filing data is available for this year.$0.70$0.72$0.02$0.34$0.67$0.33
2017Detailed filing. Detailed filing data is available for this year.$0.85$0.54$0.31$0.74$0.78$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.86$0.51$0.35$0.81$0.75$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.82$0.52$0.30$0.83$0.70$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.60$0.43$0.17$0.57$0.66$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.31$0.26$0.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.63$0.12$0.63
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.63$0.27$0.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.70$0.45$0.64
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 3, 2022
Return Version
2020v4.2
Gross Receipts
$406,798
Mission and Program Overview

Mission

Changing lives forever through education. We help low-income families with children in kindergarten through 8th grade throughout the louisville, kentucky area who want the best possible education at their choice of schools. We help offset the cost of private and parochial schools for families with financial need. We also provide parent education classes and support. All parents of scholarship recipients must attend at least four classes during the course of the school year. Topics covered range from financial education to substance abuse prevention to tutoring services available.

Provides scholarships for children from low-income families in kindergarten through 8th grade so they can attend the school of their choice in jefferson and oldham counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$246,325$133,825▼ $112,500
Cash and Non-Interest-Bearing Accounts$70,848$58,133▼ $12,715
Savings and Temporary Cash Investments$35,905$35,921▲ $16
Prepaid Expenses and Deferred Charges$750$750→ $0
Investments in Publicly Traded Securities$117$117→ $0
Accounts Receivable$0$82▲ $82
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$398,065$285,262▼ $112,803
Other Assets Total$44,120$56,434▲ $12,314
Liabilities
Grants Payable$722,734$200,138▼ $522,596
Accounts Payable and Accrued Expenses$104$0▼ $104
Total Liabilities$722,838$200,138▼ $522,700
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-324,773$85,124▲ $409,897
Total Net Assets Fund Balance$-324,773$85,124▲ $409,897
Total Liabilities and Net Assets / Fund Balance$398,065$285,262▼ $112,803

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$13,733$13,733
Other Assets Org$56,434--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$44,120-▲ $12,314-$56,434
2019$43,292-▲ $828-$44,120
2018$41,706-▲ $1,586-$43,292
2017$39,201-▲ $2,505-$41,706
2016$34,606-▲ $4,595-$39,201
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Joanna NugentBoard MemberPT$6,000$6,000

Board Members and Trustees

NameTitle
James a PattersonFounding Member and Presid
Margaret Ann WellsFounding Member and Treasu
Revenue and Support

Revenue Composition

Contributions and Grants
$406,618
Program Service Revenue
$0
Investment Income
$180
Other Revenue
$0
All Other Contributions
$406,618
Change in Net Assets
$397,584
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,000
Other Expenses$3,214
Total Fundraising Expense$140
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$6,000-$6,000
Fees for Services Accounting-$2,421-$2,421
Office Expenses-$653$140$793
Total Functional Expenses$0$9,074$140$9,214
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form is sent out by our accounting firm for review by our board committee after preliminary preparation and is sent for final preparation after approval with any changes needed. The entire governing body is provided with a pdf copy of the form 990 prior to filing.”

Form 990, Part VI, Section B, Line 12C

“This is done with a review of any conflicts at the annual meeting in october of each year or before if any conflicts arise before this date of the annual meeting.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy and financial statements are made available to the public upon written request, through the mail or email.”

Filing and Contact Details

Filer

Filer Name
School Choice Scholarships Inc
EIN
31-1589289
Phone
5022547274
Address
503 ROLLING LN, LOUISVILLE, KY 40207

Signing Officer

Name
Ann Wells
Title
Board Member
Phone
5022547274
Signed
2022-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann Wells
Formed
1998
Legal Domicile
Ky
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Mcm Cpas & Advisors Llp
Address
462 SOUTH 4TH STREET SUITE 2600, LOUISVILLE, KY 40202
Preparer
Theresa Batliner CPA
Phone
5027491900
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in beneficial interest of funds held by others 12,313.”

Financial Statement Notes

PART V, LINE 4:

“The intended use of the organization's endowment funds are to support the organization's programs.”

Raw XML Appendix344 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0CHANGING LIVES FOREVER THROUGH EDUCATION. WE HELP LOW-INCOME FAMILIES WITH CHILDREN IN KINDERGARTEN THROUGH 8TH GRADE THROUGHOUT THE LOUISVILLE, KENTUCKY AREA WHO WANT THE BEST POSSIBLE EDUCATION AT THEIR CHOICE OF SCHOOLS. WE HELP OFFSET THE COST OF PRIVATE AND PAROCHIAL SCHOOLS FOR FAMILIES WITH FINANCIAL NEED. WE ALSO PROVIDE PARENT EDUCATION CLASSES AND SUPPORT. ALL PARENTS OF SCHOLARSHIP RECIPIENTS MUST ATTEND AT LEAST FOUR CLASSES DURING THE COURSE OF THE SCHOOL YEAR. TOPICS COVERED RANGE FROM FINANCIAL EDUCATION TO SUBSTANCE ABUSE PREVENTION TO TUTORING SERVICES AVAILABLE.
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt043292
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt044120
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0828
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt041706
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt043292
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01586
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt039201
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt041706
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02505
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt034606
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt039201
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt04595
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013733
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt013733
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt056434
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INTEREST IN FUNDS HELD BY OTHERS
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO SUPPORT THE ORGANIZATION'S PROGRAMS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt056434
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM IS SENT OUT BY OUR ACCOUNTING FIRM FOR REVIEW BY OUR BOARD COMMITTEE AFTER PRELIMINARY PREPARATION AND IS SENT FOR FINAL PREPARATION AFTER APPROVAL WITH ANY CHANGES NEEDED. THE ENTIRE GOVERNING BODY IS PROVIDED WITH A PDF COPY OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIS IS DONE WITH A REVIEW OF ANY CONFLICTS AT THE ANNUAL MEETING IN OCTOBER OF EACH YEAR OR BEFORE IF ANY CONFLICTS ARISE BEFORE THIS DATE OF THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST, THROUGH THE MAIL OR EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CHANGE IN BENEFICIAL INTEREST OF FUNDS HELD BY OTHERS 12,313.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0KY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0398065
IRS990/TotalAssetsEOYAmt0285262
IRS990/TotalAssetsGrp/BOYAmt0398065
IRS990/TotalAssetsGrp/EOYAmt0285262
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0406618
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0140
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09074
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt09214
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0722838
IRS990/TotalLiabilitiesEOYAmt0200138
IRS990/TotalLiabilitiesGrp/BOYAmt0722838
IRS990/TotalLiabilitiesGrp/EOYAmt0200138
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-324773
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt085124
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt06000
IRS990/TotalRevenueGrp/ExclusionAmt0180
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0406798
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0398065
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0285262
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0503 ROLLING LN
IRS990/USAddress/CityNm0LOUISVILLE
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040207
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.SCHOOLCHOICEKY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANN WELLS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER
ReturnHeader/BusinessOfficerGrp/PhoneNum05022547274
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SCHOOL CHOICE SCHOLARSHIPS INC
ReturnHeader/Filer/BusinessNameControlTxt0SCHO
ReturnHeader/Filer/EIN0311589289
ReturnHeader/Filer/PhoneNum05022547274
ReturnHeader/Filer/USAddress/AddressLine1Txt0503 ROLLING LN
ReturnHeader/Filer/USAddress/CityNm0LOUISVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040207
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271235638
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCM CPAS & ADVISORS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0462 SOUTH 4TH STREET SUITE 2600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040202
ReturnHeader/PreparerPersonGrp/PhoneNum05027491900
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THERESA BATLINER CPA
ReturnHeader/ReturnTs02022-05-16T13:56:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ANN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WELLS
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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