Civic Intelligence

Opportunity Scholarship Fund

990 • Fiscal year 2019 • EIN 46-4511347

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 18, 2020

1831 E 71 StreetTulsa, OK 74136

(918) 877-2710

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

13th percentile

-20%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

21st percentile

-11%

Faster revenue growth than 21% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$4,621,192

Down $751,169 (-14%) from 2018

Net Assets

Down

$4,621,192

Down $751,169 (-14%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue

Down

$3,669,942

Down $470,356 (-11%) from 2018

Expenses

Up

$4,421,111

Up $356,587 (+8.8%) from 2018

Net Income

Down

-$751,169

Down $826,943 (-1091%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2014: $238,589Liabilities 2014: $0Net Assets 2014: $238,5892014Assets 2015: $1,105,903Liabilities 2015: $0Net Assets 2015: $1,105,9032015Assets 2016: $3,375,118Liabilities 2016: $0Net Assets 2016: $3,375,1182016Assets 2017: $5,308,087Liabilities 2017: $11,500Net Assets 2017: $5,296,5872017Assets 2018: $5,372,361Liabilities 2018: $0Net Assets 2018: $5,372,3612018Assets 2019: $4,621,192Liabilities 2019: $0Net Assets 2019: $4,621,1922019Assets 2020: $4,587,828Liabilities 2020: $0Net Assets 2020: $4,587,8282020Assets 2021: $5,174,750Liabilities 2021: $0Net Assets 2021: $5,174,7502021Assets 2022: $4,689,615Liabilities 2022: $0Net Assets 2022: $4,689,6152022

Highlighted filing

2019

Assets$4,621,192
Liabilities$0
Net Assets$4,621,192

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $248,305Expenses 2014: $9,716Net Income 2014: $238,5892014Revenue 2015: $1,330,203Expenses 2015: $462,889Net Income 2015: $867,3142015Revenue 2016: $3,383,889Expenses 2016: $1,114,674Net Income 2016: $2,269,2152016Revenue 2017: $5,126,240Expenses 2017: $3,204,771Net Income 2017: $1,921,4692017Revenue 2018: $4,140,298Expenses 2018: $4,064,524Net Income 2018: $75,7742018Revenue 2019: $3,669,942Expenses 2019: $4,421,111Net Income 2019: -$751,1692019Revenue 2020: $3,335,834Expenses 2020: $3,364,192Net Income 2020: -$28,3582020Revenue 2021: $3,830,206Expenses 2021: $3,243,330Net Income 2021: $586,8762021Revenue 2022: $5,332,646Expenses 2022: $5,396,933Net Income 2022: -$64,2872022

Highlighted filing

2019

Revenue$3,669,942
Expenses$4,421,111
Net Income-$751,169
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 18, 2020
Return Version
2019v5.0
Gross Receipts
$3,669,942
Mission and Program Overview

Mission

The opportunity scholarship fund is a scholarship granting organization that provides scholarships to oklahoma k-12 students to attend accredited private schools in our state. Once a student has received a scholarship, that student and his or her siblings remain eligible until high school graduation or age 21.

The opportunity scholarship fund is a scholarship granting organization that provides scholarships to oklahoma k-12 students to attend accredited private schools in our state. Once a student has received a scholarship, that student and his or her siblings remain eligible until high school graduation or age 21, whichever is first.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,329,241$4,616,558▼ $712,683
Investments in Publicly Traded Securities$41,214$2,728▼ $38,486
Prepaid Expenses and Deferred Charges$1,906$1,906→ $0
Total Assets$5,372,361$4,621,192▼ $751,169
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,831,559$4,113,243▼ $718,316
Net Assets Without Donor Restrictions$540,802$507,949▼ $32,853
Total Net Assets Fund Balance$5,372,361$4,621,192▼ $751,169
Total Liabilities and Net Assets / Fund Balance$5,372,361$4,621,192▼ $751,169
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael LapollaPresident
Brandon DutcherDirector
Eddie HuffDirector
Erin HowardDirector
Hopper SmithDirector
James ReedDirector
Michael CarnuccioDirector
Todd KolczunDirector
Tw ShannonDirector
Brittoni LantzSecretary
Dan NewberryTreasurer
Charles DanielsVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Robert SellersConsulting1831 E 71 STREET, Tulsa, OK 74136$114,700
Candor Public Relations LLCMarketing/pr729 W SHERIDAN AVE, Oklahoma City, OK 73102$109,688
Revenue and Support

Revenue Composition

Contributions and Grants
$3,326,176
Program Service Revenue
$269,692
Investment Income
$74,074
Other Revenue
$0
All Other Contributions
$3,326,176
Change in Net Assets
$-751,169

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded9$51,545Fair Market Value
Total Noncash Contributions9$51,545-

Audited Revenue Reconciliation

Revenue per Audited Statements
$394,257
Revenue Not Reported on Financial Statements
$3,275,685
Other Revenue Adjustments
$3,275,685
Total Revenue per Audited Statements
$394,257
Total Revenue per Form 990
$3,669,942
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,108,122
Other Expenses$312,989
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$4,108,122--$4,108,122
Fees for Services Other-$138,106-$138,106
Advertising$93,018--$93,018
Fees for Services Lobbying-$37,500-$37,500
Office Expenses-$11,810-$11,810
Other Expenses-$9,685-$9,685
Fees for Services Accounting-$9,023-$9,023
Occupancy-$8,251-$8,251
Insurance-$3,226-$3,226
Information Technology-$2,370-$2,370
Total Functional Expenses$4,201,140$219,971$0$4,421,111

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,421,111
Expenses Not Reported on Financial Statements$4,062,175
Other Expense Adjustments$4,062,175
Expenses per Audited Statements$358,936
Total Expenses per Audited Statements$358,936
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
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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, Page 6, Part VI, Line 11B

The tax return was forwarded by the executive director to all board members for their review before the return was e-filed.

Form 990, Page 6, Part VI, Line 12C

In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board delegate powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board of directors or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists.

Form 990, Page 6, Part VI, Line 19

All organizing documents are available to be viewed by the public given sufficient notice.

Filing and Contact Details

Filer

Filer Name
Opportunity Scholarship Fund
EIN
46-4511347
Phone
9188772710
Address
1831 E 71 STREET, TULSA, OK 74136

Signing Officer

Name
Robert Sellers
Title
Executive Director
Phone
9184914036
Signed
2020-08-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Sellers
Formed
2014
Legal Domicile
Ok
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Cck Strategies Pllc
Address
8811 S YALE AVE STE 400, TULSA, OK 74137
Preparer
Jeffrey a Frable CPA
Phone
9184914036
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The opportunity scholarship fund is a scholarship granting organization that provides scholarships to oklahoma k-12 students to attend accredited private schools in our state. Once a student has received a scholarship, that student and his or her siblings remain eligible until high school graduation or age 21, whichever is first.

Financial Statement Notes

Schedule D, Page 3, Part X

Opportunity scholarship fund evaluates its uncertain tax positions, if any, on a continual basis through review of their policies and procedures, review of their regular tax filings and discussions with outside experts. Management has determined that opportunity scholarship fund had no uncertain tax positions that require adjustment to the financial statements.

Schedule D, Page 4, Part XI, Line 4B

Temporarily restricted contributions 3,326,175 net assets released from restrictions -50,490

Schedule D, Page 4, Part XII, Line 4B

Grants & other assistance 4,108,122 grants & awards -45,947

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01330203
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt074074
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt042982
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01530
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0-373
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01330203
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt016234842
IRS990ScheduleA/TotalSupportAmt016353055
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/TotalAmt0371056
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearAmt037500
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/TotalAmt037500
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IRS990ScheduleC/GrassrootsNontaxableGrp/FilingOrganizationsTotalAmt092764
IRS990ScheduleC/LobbyingCeilingAmt0556584
IRS990ScheduleC/LobbyingNontaxableAmountGrp/FilingOrganizationsTotalAmt0371056
IRS990ScheduleC/OtherExemptPurposeExpendGrp/FilingOrganizationsTotalAmt04383611
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0OPPORTUNITY SCHOLARSHIP FUND HAS FILED A LOBBYING EXPENDITURE ELECTION UNDER SECTION 501(H) FOR ITS TAX YEAR BEGINNING IN 2019. NO LOBBYING ACTIVITY WAS PERFORMED IN PREVIOUS YEARS.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART II-A
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IRS990ScheduleC/TotalExemptPurposeExpendGrp/FilingOrganizationsTotalAmt04421111
IRS990ScheduleC/TotalLobbyingExpendGrp/FilingOrganizationsTotalAmt037500
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherRevenuesNotIncludedAmt03275685
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt03275685
IRS990ScheduleD/RevenueSubtotalAmt0394257
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OPPORTUNITY SCHOLARSHIP FUND EVALUATES ITS UNCERTAIN TAX POSITIONS, IF ANY, ON A CONTINUAL BASIS THROUGH REVIEW OF THEIR POLICIES AND PROCEDURES, REVIEW OF THEIR REGULAR TAX FILINGS AND DISCUSSIONS WITH OUTSIDE EXPERTS. MANAGEMENT HAS DETERMINED THAT OPPORTUNITY SCHOLARSHIP FUND HAD NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1TEMPORARILY RESTRICTED CONTRIBUTIONS 3,326,175 NET ASSETS RELEASED FROM RESTRICTIONS -50,490
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2GRANTS & OTHER ASSISTANCE 4,108,122 GRANTS & AWARDS -45,947
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalRevenuePerForm990Amt03669942
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS FOR STUDENTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01505
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ELIGIBILITY IS REVIEWED FOR ALL APPLICANTS. A STUDENT MUST BE A LAWFULLY PRESENT IN THE UNITED STATES AND HAVE BEEN ACCEPTED BY AN ACCREDITED OKLAHOMA PRIVATE SCHOOL FOR THE SCHOOL YEAR. A STUDENT MUST MEET ONE OF THE FOLLOWING THREE CRITERIA: LIVE IN A FAMILY WITHIN THE ADJUSTED GROSS INCOME GUILDLINES; OR ATTEND, OR LIVE IN THE ATTENDANCE ZONE, OF A PUBLIC SCHOOL DESIGNATED AS "IN NEED OF IMPROVEMENT" BY THE STATE BOARD OF EDUCATION OR; HAVE ATTENDED PUBLIC SCHOOL WITH AN INDIVIDUALIZED EDUCATION PROGRAM.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE OPPORTUNITY SCHOLARSHIP FUND IS A SCHOLARSHIP GRANTING ORGANIZATION THAT PROVIDES SCHOLARSHIPS TO OKLAHOMA K-12 STUDENTS TO ATTEND ACCREDITED PRIVATE SCHOOLS IN OUR STATE. ONCE A STUDENT HAS RECEIVED A SCHOLARSHIP, THAT STUDENT AND HIS OR HER SIBLINGS REMAIN ELIGIBLE UNTIL HIGH SCHOOL GRADUATION OR AGE 21, WHICHEVER IS FIRST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURN WAS FORWARDED BY THE EXECUTIVE DIRECTOR TO ALL BOARD MEMBERS FOR THEIR REVIEW BEFORE THE RETURN WAS E-FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD DELEGATE POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OF DIRECTORS OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL ORGANIZING DOCUMENTS ARE AVAILABLE TO BE VIEWED BY THE PUBLIC GIVEN SUFFICIENT NOTICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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