Civic Intelligence

Funding for Scholars

EIN 46-5079918 • 501(c)3 • Aiken, SC

Profile

Funding for Scholars is a locally operated and supported nonprofit, tax-exempt, scholarship organization. Operated by an all-volunteer board of directors, the purpose of Funding for Scholars is to provide access to higher education to graduating high school seniors who demonstrate academic promise. In support of this purpose, Funding for Scholars stimulates community financial support for local students to pursue higher levels of educational achievement.

PO Box 5433Aiken, SC 29804

aikencountydfs.org

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2018

Liabilities / Revenue

61st percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

15th percentile

-43%

Higher net margin than 15% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

19th percentile

-44%

Faster revenue growth than 19% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $362,002 (-100%) from 2017

Liabilities

Flat

$0

Flat from 2017

Net Assets

Down

$0

Down $362,002 (-100%) from 2017

Operations
Liabilities / Revenue61st percentileNet Margin15th percentile

Revenue

Down

$22,212

Down $17,209 (-44%) from 2017

Expenses

Down

$31,775

Down $26,332 (-45%) from 2017

Net Income

Up

-$9,563

Up $9,123 (+49%) from 2017

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

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

$400K$300K$200K$100K$0Assets 2016: $380,688Liabilities 2016: $02016Assets 2017: $362,002Liabilities 2017: $0Net Assets 2017: $362,0022017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth19th percentile

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

$60K$40K$20K$0-$20KRevenue 2016: $31,988Expenses 2016: $27,971Net Income 2016: $4,0172016Revenue 2017: $39,421Expenses 2017: $58,107Net Income 2017: -$18,6862017Revenue 2018: $22,212Expenses 2018: $31,775Net Income 2018: -$9,5632018

Highlighted filing

2018

Revenue$22,212
Expenses$31,775
Net Income-$9,563
Open 2018 Filing

Filings

Most recent year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$22,212
Expenses
$31,775
Net income
-$9,563
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.22$0.32$0.10
2017Detailed filing. Detailed filing data is available for this year.$3.62$0.00$3.62$0.39$0.58$0.19
2016Summary only. Only limited summary data is available for this year.$3.81$0.00$0.32$0.28$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Jul 27, 2018
Return Version
2017v2.3
Gross Receipts
$322,212
Mission and Program Overview

Mission

Funding for scholars is a locally operated and supported nonprofit, tax-exempt, scholarship organization. Operated by an all-volunteer board of directors, the purpose of funding for scholars is to provide access to higher education to graduating high school seniors who demonstrate academic promise. In support of this purpose, funding for scholars stimulates community financial support for local students to pursue higher levels of educational achievement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$362,002$0▼ $362,002
Rtn Earn Endowment Incm Other Fnds$362,002$0▼ $362,002
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$362,002$0▼ $362,002
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$362,002$0▼ $362,002
Total Liabilities and Net Assets / Fund Balance$362,002$0▼ $362,002
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Scott HeathPresident
Cecelia HewettVice President
Al SorensonBoard Member
Butch RobersonBoard Member
Daniel SeawellBoard Member
Danny MinolfoBoard Member
Gerry OwenBoard Member
Gina BassfordBoard Member
Lessie PriceBoard Member
Russell KruegerBoard Member
Sam McgillBoard Member
Thomas GoforthBoard Member
Tom WyattBoard Member
Van SmithBoard Member
Weldon WyattEmeritus
Jean S GallmanSecretary
Diane WatsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$250
Program Service Revenue
$0
Investment Income
$21,962
Other Revenue
$0
All Other Contributions
$250
Change in Net Assets
$-9,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$30,000
Other Expenses$1,775
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$30,000--$30,000
Fees for Services Accounting-$1,725-$1,725
Other Expenses-$50-$50
Total Functional Expenses$30,000$1,775$0$31,775
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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

“Form 990 is prepared by an independent accounting firm and is made available to the president and treasurer of the organization to review and comment on any changes the organization may deem necessary. Once any changes are made, the president and treasurer notify the accounting firm of the acceptance of the form 990 and supporting schedules and the return is then filed with the internal revenue service and any other required entities.”

Form 990, Part VI, Section C, Line 18

“The organization does not believe it is beneficial for documents to be posted for the public at this time. The documents are available to the public upon specific request.”

Form 990, Part VI, Section C, Line 19

“The organization does not believe it is beneficial for documents to be posted for the public at this time. The documents are available to the public upon specific request.”

Filing and Contact Details

Filer

Filer Name
Funding for Scholars
EIN
46-5079918
Phone
8035087679
Address
PO BOX 5433, AIKEN, SC 29804

Signing Officer

Name
Diane Watson
Title
Treasurer
Phone
8035087679
Signed
2018-07-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Watson
Formed
2013
Legal Domicile
Sc
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
0

Preparer

Firm
Cherry Bekaert Llp
Address
137 OLD MARKET STREET SUITE 101, AIKEN, SC 29803
Preparer
Cindy Meares
Phone
8036482692
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“Organization ceased operations and transferred cash to another organization.”

FORM 990, PART XI, LINE 9:

“Transfer of funds to successor organization -352,439.”

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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/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt00
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt00
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt00
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-9563
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0362002
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt029900
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt032750
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt021962
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt014299
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt036261
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt022522
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.47460
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt032750
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02600
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt029900
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt032750
IRS990ScheduleA/TotalSupportAmt069011
IRS990/ScheduleBRequiredInd00
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt030000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLRSHIPS FOR STUDENTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt012
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd00
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd01
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0ACTUAL COST
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd00
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0SAGE VALLEY GOLF FOUNDATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt1SAGE VALLEY GOLF FOUNDATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02018-01-12
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12018-03-08
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0471424487
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1471424487
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0337524
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt114915
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(3) PRIVATE FOUNDATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1501(C)(3) PRIVATE FOUNDATION
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0ACTUAL COST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1ACTUAL COST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0137 OLD MARKET STREET SUITE 101
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt1137 OLD MARKET STREET SUITE 101
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0AIKEN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm1AIKEN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0SC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd1SC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd029803
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd129803
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd00
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: THOMAS GOFORTH
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: THOMAS GOFORTH IS THE TREASURER OF ORGANIZATION THAT THE ASSETS WERE TRANSFERRED TO.
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt2PERSON(S) INVOLVED: THOMAS GOFORTH
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt3EXPLANATION OF INVOLVEMENT: THOMAS GOFORTH IS THE TREASURER OF ORGANIZATION THAT THE ASSETS WERE TRANSFERRED TO.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc2PART II, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc3PART II, LINE 2E:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION CEASED OPERATIONS AND TRANSFERRED CASH TO ANOTHER ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND IS MADE AVAILABLE TO THE PRESIDENT AND TREASURER OF THE ORGANIZATION TO REVIEW AND COMMENT ON ANY CHANGES THE ORGANIZATION MAY DEEM NECESSARY. ONCE ANY CHANGES ARE MADE, THE PRESIDENT AND TREASURER NOTIFY THE ACCOUNTING FIRM OF THE ACCEPTANCE OF THE FORM 990 AND SUPPORTING SCHEDULES AND THE RETURN IS THEN FILED WITH THE INTERNAL REVENUE SERVICE AND ANY OTHER REQUIRED ENTITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT BELIEVE IT IS BENEFICIAL FOR DOCUMENTS TO BE POSTED FOR THE PUBLIC AT THIS TIME. THE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT BELIEVE IT IS BENEFICIAL FOR DOCUMENTS TO BE POSTED FOR THE PUBLIC AT THIS TIME. THE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON SPECIFIC REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRANSFER OF FUNDS TO SUCCESSOR ORGANIZATION -352,439.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0362002
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0362002
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0250
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01775
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt030000
IRS990/TotalFunctionalExpensesGrp/TotalAmt031775
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0362002
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt030000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021962
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt022212
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0362002
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00

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