Civic Intelligence

Answer Scholarship Inc.

990 • Fiscal year 2024 • EIN 81-0834789

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 02, 2025

Organization ProfileWWW.ANSWERSCHOLARSHIP.ORG
9805 Sandy Rock Place C208Charlotte, NC 28277

(704) 544-1988

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.01x

Higher debt load relative to assets than 62% of similar nonprofits.

2024 filings • NTEE P80 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

0.01x

Higher debt load relative to revenue than 65% of similar nonprofits.

2024 filings • NTEE P80 • <$500k nonprofits • Source year 2024

Net Margin

17th percentile

-22%

Higher net margin than 17% of similar nonprofits.

2024 filings • NTEE P80 • <$500k nonprofits • Source year 2024

Top Officer Pay

91st percentile

$37,433

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 15.3% of source-year revenue.

2024 filings • NTEE P80 • <$500k nonprofits • Source year 2024

Asset Growth

26th percentile

-20%

Faster asset growth than 26% of similar nonprofits.

2024 filings • NTEE P80 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

52nd percentile

6.5%

Faster revenue growth than 52% of similar nonprofits.

2024 filings • NTEE P80 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$182,105

Down $45,402 (-20%) from 2023

Net Assets

Down

$179,673

Down $46,352 (-21%) from 2023

Liabilities

Up

$2,432

Up $950 (+64%) from 2023

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin17th percentile

Revenue

Up

$245,334

Up $15,047 (+6.5%) from 2023

Expenses

Up

$299,472

Up $18,515 (+6.6%) from 2023

Net Income

Down

-$54,138

Down $3,468 (-6.8%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$300K$200K$100K$0Assets 2015: $1Liabilities 2015: $02015Assets 2016: $69,258Liabilities 2016: $0Net Assets 2016: $69,2582016Assets 2017: $124,685Liabilities 2017: $174Net Assets 2017: $124,5112017Assets 2018: $149,045Liabilities 2018: $270Net Assets 2018: $148,7752018Assets 2019: $132,990Liabilities 2019: $2,0642019Assets 2020: $165,023Liabilities 2020: $2,589Net Assets 2020: $162,4342020Assets 2022: $190,253Liabilities 2022: $1,072Net Assets 2022: $189,1812022Assets 2023: $227,507Liabilities 2023: $1,482Net Assets 2023: $226,0252023Assets 2024: $182,105Liabilities 2024: $2,432Net Assets 2024: $179,6732024

Highlighted filing

2024

Assets$182,105
Liabilities$2,432
Net Assets$179,673
Open 2024 Filing

Operations Trend

Revenue Growth52nd percentile

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

$300K$200K$100K$0-$100KRevenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $103,409Expenses 2016: $34,151Net Income 2016: $69,2582016Revenue 2017: $171,773Expenses 2017: $117,073Net Income 2017: $54,7002017Revenue 2018: $157,125Expenses 2018: $129,755Net Income 2018: $27,3702018Revenue 2019: $91,538Expenses 2019: $114,935Net Income 2019: -$23,3972019Revenue 2020: $193,867Expenses 2020: $162,739Net Income 2020: $31,1282020Revenue 2022: $195,150Expenses 2022: $184,045Net Income 2022: $11,1052022Revenue 2023: $230,287Expenses 2023: $280,957Net Income 2023: -$50,6702023Revenue 2024: $245,334Expenses 2024: $299,472Net Income 2024: -$54,1382024

Highlighted filing

2024

Revenue$245,334
Expenses$299,472
Net Income-$54,138
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 2, 2025
Return Version
2023v6.0
Gross Receipts
$259,387
Mission and Program Overview

Mission

To help women raising school-age children in fulfilling their dream of earning a college degree, while creating the desire, expectation, and priority of a college education for their children to follow in their footsteps.

To mentor and prepare mothers of school-age children to achieve a college education and inspire them to be role models of academic, personal, and professional success for their children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$156,330$127,202▼ $29,128
Cash and Non-Interest-Bearing Accounts$71,177$54,903▼ $16,274
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$227,507$182,105▼ $45,402
Other Assets Total-$0-
Liabilities
Other Liabilities$1,482$2,432▲ $950
Total Liabilities$1,482$2,432▲ $950
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$216,025$177,841▼ $38,184
Net Assets With Donor Restrictions$10,000$1,832▼ $8,168
Total Net Assets Fund Balance$226,025$179,673▼ $46,352
Total Liabilities and Net Assets / Fund Balance$227,507$182,105▼ $45,402

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$62,591-▲ $8,303-$70,377
2022$57,187-▲ $5,914-$62,591
2021$66,793-▼ $9,081-$57,187
2020$51,654-▲ $15,643-$66,793
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan AndersenExecutive DirectorFT$30,250$7,183$37,433

Board Members and Trustees

NameTitle
Brian WallaceChairman
Bill GironeDirector
Felix NaterDirector
Gwyndolan SwainDirector
LaWanda GoodmanDirector
Lori MeyersDirector
Pam Sanders-MarshDirector
Paula GoolkasianDirector
Sharon TownsendDirector
Tani SeymoreTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$234,363
Program Service Revenue
$0
Investment Income
$268
Other Revenue
$10,703
All Other Contributions
$228,378
Change in Net Assets
$-54,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$182,800
Total Fundraising Expense$90,779
Grants and Similar Amounts Paid$67,738
Other Expenses$48,934
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$51,113$10,913$68,822$130,848
Grants to Domestic Orgs$67,738--$67,738
Current Officers, Directors, Trustees, and Key Employees$12,478$12,478$12,477$37,433
Fees for Services Other$231$7,188$1,156$8,575
Payroll Taxes$2,421$2,494$2,421$7,336
Other Employee Benefits$2,371$2,442$2,370$7,183
Travel$1,038$1,199$403$2,640
Information Technology$1,069$1,069-$2,138
Other Expenses$1,190$1,328$616$1,944
All Other Expenses$107$1,029$461$1,597
Insurance-$1,523-$1,523
Office Expenses-$655-$655
Total Functional Expenses$161,859$46,834$90,779$299,472
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Foundation for the CarolinasCharlotte, NC-Scholarships$67,738
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$24,756
Fundraising Direct Expenses$14,053
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Festival$24,444$24,444$1,879$22,565
Pancake Fundraiser$6,297$312$232$80
Total Events$30,741$24,756$14,053$10,703
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
payroll taxes payable$2,239
Credit Card Payable$193
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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

“An independent CPA firm prepares the Form 990. The CEO, Treasurer, and Finance Committee members review and approve the Form 990. The reviewed Form 990 is then provided to all board members prior to filing. The board members are given a period of time to review and raise any questions before the 990 is filed.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. A public copy of the Form 990 is provided on the organization's website.”

Filing and Contact Details

Filer

Filer Name
ANSWER Scholarship Inc
EIN
81-0834789
Phone
7045441988
Address
9805 Sandy Rock Place C208, Charlotte, NC 28277

Signing Officer

Name
Susan Andersen
Title
Executive Director
Signed
2025-02-02
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
10
Employees
3
Volunteers
60

Preparer

Firm
Foard and Company PA
Address
1347 Harding Place, Charlotte, NC 28204
Preparer
Garrett Summers
Phone
7043721515
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“The Quasi Endowment was established for us to invest for a rainy day. The Quasi allows us to withdraw a percentage every year if needed. We can also draw down the account to $0, if needed.”

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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/Desc0MENTORS FOR MOM PROGRAM - ONE OF THE MOST IMPACTFUL THINGS WE DO FOR OUR SCHOLARS IS CONNECT THEM WITH A VOLUNTEER MENTOR THROUGH OUR MENTORS FOR MOM PROGRAM. MENTORS OFFER OUR SCHOLARS SUPPORT AND GUIDANCE ON BALANCING FAMILY, WORK AND SCHOOL. SCHOLARS MEET REGULARLY WITH THEIR MENTORS FOR ADVICE, MOTIVATION, OR SIMPLY AS A SOUNDING BOARD. SCHOLARS AND MENTORS ALSO CONVENE MONTHLY AS A GROUP, WHERE THEY SHARE EXPERIENCES AND LEARN FROM EXPERTS ON ESSENTIAL TOPICS, SUCH AS FINANCIAL PLANNING, PROFESSIONAL DEVELOPMENT AND WOMEN'S HEALTH. SCHOLARS MUST PARTICIPATE IN THE MENTORS FOR MOM PROGRAM AS PART OF THE SCHOLARSHIP TERMS. THIS PROGRAM IS UTILIZED TO GAUGE HOW WELL THE SCHOLARS ARE DOING IN SCHOOL, ALLOWING US TO IDENTIFY AND RESOLVE ISSUES BEFORE THEY BECOME SETBACKS.
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IRS990/MissionDesc0To mentor and prepare mothers of school-age children to achieve a college education and inspire them to be role models of academic, personal, and professional success for their children.
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IRS990/OfficeExpensesGrp/TotalAmt0655
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IRS990/OperateHospitalInd0false
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt07183
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IRS990/OtherExpensesGrp/FundraisingAmt11001
IRS990/OtherExpensesGrp/FundraisingAmt2616
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11437
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0130848
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IRS990/PayrollTaxesGrp/FundraisingAmt02421
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IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0AT FOUNDATION FOR THE CAROLINAS, THE ENDOWMENT FUND IS CALLED THE ANSWER SCHOLARSHIP ENDOWMENT. ANSWER INC. UTILIZES THIS FUND AS A MEANS TO PROVIDE SCHOLARSHIPS FOR STUDENTS. IN 2024, FOUNDATION FOR THE CAROLINAS AWARDED $94,675 IN SCHOLARSHIPS TO ANSWER INC. SCHOLARS, $67,738 OF WHICH WAS PROVIDED BY ANSWER INC. THE REMAINING $26,937 WAS PROVIDED BY THE ENDOWMENT.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt067738
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IRS990/PYSalariesCompEmpBnftPaidAmt084695
IRS990/PYTotalExpensesAmt0280957
IRS990/PYTotalRevenueAmt0230287
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt05914
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0193
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$182,105
Liabilities
$2,432
Net assets
$179,673
Revenue
$245,334
Expenses
$299,472
Net income
-$54,138
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.82$0.02$1.80$2.45$2.99$0.54
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.01$2.26$2.30$2.81$0.51
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$0.01$1.89$1.95$1.84$0.11
2020Detailed filing. Detailed filing data is available for this year.$1.65$0.03$1.62$1.94$1.63$0.31
2019Summary only. Only limited summary data is available for this year.$1.33$0.02$0.92$1.15$0.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.49$0.00$1.49$1.57$1.30$0.27
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.25$0.00$1.25$1.72$1.17$0.55
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.00$0.69$1.03$0.34$0.69
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00