Civic Intelligence

Scholar Fund

990 • Fiscal year 2020 • EIN 81-3153433

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 01, 2023

300 Lenora St Pmb 1750Seattle, WA 98121

(206) 724-3547

Siviq Scores

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

Liabilities / Assets

58th percentile

0.30x

Higher debt load relative to assets than 58% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.05x

Higher debt load relative to revenue than 15% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

66th percentile

11%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

16th percentile

$53,700

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

100th percentile

38753%

Faster asset growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

16156%

Faster revenue growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$2,443,097

Up $2,436,809 (+38753%) from 2019

Net Assets

Up

$1,698,125

Up $1,691,837 (+26906%) from 2019

Liabilities

$744,972

No earlier filing loaded for comparison.

Revenue

Up

$15,143,479

Up $15,050,323 (+16156%) from 2019

Expenses

Up

$13,445,352

Up $13,352,689 (+14410%) from 2019

Net Income

Up

$1,698,127

Up $1,697,634 (+344348%) from 2019

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 2019: $6,288Net Assets 2019: $6,2882019Assets 2020: $2,443,097Liabilities 2020: $744,972Net Assets 2020: $1,698,1252020Assets 2023: $5,238,927Liabilities 2023: $2,595,324Net Assets 2023: $2,643,6032023

Highlighted filing

2020

Assets$2,443,097
Liabilities$744,972
Net Assets$1,698,125

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2019: $93,156Expenses 2019: $92,663Net Income 2019: $4932019Revenue 2020: $15,143,479Expenses 2020: $13,445,352Net Income 2020: $1,698,1272020Revenue 2023: $45,276,999Expenses 2023: $45,725,910Net Income 2023: -$448,9112023

Highlighted filing

2020

Revenue$15,143,479
Expenses$13,445,352
Net Income$1,698,127
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 1, 2023
Return Version
2020v4.0
Gross Receipts
$15,143,479
Mission and Program Overview

Mission

Our mission is to help students find ways to afford higher education through applying for scholarships

To cultivate and establish a positive impact. We primarily accomplish this by connecting community needs to resources and opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,282$2,435,751▲ $2,430,469
Savings and Temporary Cash Investments$0$7,346▲ $7,346
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$6,288$2,443,097▲ $2,436,809
Other Assets Total$1,006$0▼ $1,006
Liabilities
Accounts Payable and Accrued Expenses$0$744,972▲ $744,972
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$744,972▲ $744,972
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$1,698,125▲ $1,698,125
Net Assets Without Donor Restrictions$6,288$0▼ $6,288
Total Net Assets Fund Balance$6,288$1,698,125▲ $1,691,837
Total Liabilities and Net Assets / Fund Balance$6,288$2,443,097▲ $2,436,809
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
David CovenCEOPT$53,700$53,700
Brent SchroeterDirector of Engineering-$1,500$1,500
Revenue and Support

Revenue Composition

Contributions and Grants
$523,927
Program Service Revenue
$14,619,518
Investment Income
$34
Other Revenue
$0
All Other Contributions
$523,927
Change in Net Assets
$1,698,127
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,421,051
Salaries, Compensation, and Employee Benefits$618,587
Other Expenses$405,714
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$12,421,051--$12,421,051
Current Officers, Directors, Trustees, and Key Employees$541,555$34,567$0$576,122
Fees for Services Other$256,184$16,330$0$272,514
Information Technology$0$98,472$0$98,472
Payroll Taxes$39,346$3,119$0$42,465
Office Expenses$0$29,623$0$29,623
Occupancy$0$2,967$0$2,967
Insurance$0$1,716$0$1,716
Travel$0$422$0$422
Total Functional Expenses$13,258,136$187,216$0$13,445,352
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
Yes
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

Part VI, Section B, Line 11B

This will be reviewed and discussed by all members of the board before it is submitted.

Part VI, Section B, 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 governing board delegated powers considering the proposed transaction or arrangement.

Part VI, Section B, Line 15

| Name of the Person:, The process used to establish compensation of the person who served in:|, The year in which this process was last undertaken:| David Coven, Board meeting, 2020|

Part VI, Section C, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Scholar Fund
EIN
81-3153433
In Care Of
% David Coven
Address
300 LENORA ST PMB 1750, Seattle, WA 98121
Doing Business As
Scholarship Junkies

Signing Officer

Name
David Coven
Title
CEO
Signed
2023-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Coven
Formed
2016
Legal Domicile
Wa
Voting Board Members
3
Independent Board Members
3
Employees
25
Volunteers
20

Preparer

Firm
Theresa Carlson Accounting
Address
122 Goodell Rd, Folsom, CA 95630
Preparer
Theresa Carlson
Supplemental Narrative

Additional Explanations

Part III, line 2

1. The Grassroots Relief Fund has achieved commendable milestones in its mission to alleviate hardships faced by numerous individuals and families. 2. The Seattle Relief Fund spearheaded by the City of Seattle's Office of Immigrant and Refugee Affairs emerged as a cornerstone of support for the immigrant community. 3. The Washington Dream Coalition as the inaugural and most expansive undocumented immigrant youth-led organization in Washington State has been a torchbearer for countless initiatives embodying the spirit of resilience leadership and empowerment. 4. The Washington COVID-19 Immigrant Relief Fund emerged as a beacon of hope during the tumultuous times of the pandemic. The program successfully influenced Gov. Inslee's decision securing a monumental sum of $62.6 million. This fund has been instrumental in providing pivotal aid to over 60,000 immigrants across Washington State.

Part III, line 3

In 2019 our primary focus was on assisting students in accessing scholarships and facilitating their college application process. However in 2020 we revised our mission to "connecting community needs to resources and opportunities." This change reflects our expanded scope of work which now includes administering cash benefits and providing direct assistance programs.

Part III, Line 4D

| Description:, Expense Amount:, Grants Amount:, Revenue Amount:| One of the standout achievements of the Washington Dream Coalition has been the creation of the first grassroots fund in the state. As their fiscal sponsor we played a pivotal role in ensuring the financial viability and success of this groundbreaking initiative bolstering its reach and impact., $344, $0, $26796|

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IRS990/PayrollTaxesGrp/TotalAmt042465
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0David Coven
IRS990/PriorPeriodAdjustmentsAmt0-6290
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0813319
IRS990/ProgramServiceRevenueGrp/BusinessCd1813319
IRS990/ProgramServiceRevenueGrp/BusinessCd2813319
IRS990/ProgramServiceRevenueGrp/BusinessCd3813319
IRS990/ProgramServiceRevenueGrp/Desc0Other Social Advocacy Organizations
IRS990/ProgramServiceRevenueGrp/Desc1Other Social Advocacy Organizations
IRS990/ProgramServiceRevenueGrp/Desc2Other Social Advocacy Organizations
IRS990/ProgramServiceRevenueGrp/Desc3Other Social Advocacy Organizations
IRS990/ProgramServiceRevenueGrp/ExclusionAmt07473968
IRS990/ProgramServiceRevenueGrp/ExclusionAmt16453168
IRS990/ProgramServiceRevenueGrp/ExclusionAmt2665586
IRS990/ProgramServiceRevenueGrp/ExclusionAmt326796
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt30
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07473968
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16453168
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2665586
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt326796
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt30
IRS990/ProgSrvcAccomActy2Grp/Desc0Grassroots Relief Fund - the organization received grant to provide one time cash assistance payments to over 6,700 eligible applicants experiencing hardship due to the public health emergency related to Covid-19.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt05482528
IRS990/ProgSrvcAccomActy2Grp/GrantAmt05237351
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt06453168
IRS990/ProgSrvcAccomActy3Grp/Desc0Washington Immigrant Relief Fund: the organization supported the creation and administration of Washington State's Immigrant Relief Fund which successfully disbursed aid to over 60,000 immigrants across the state during the public health emergency related to Covid-19.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0518879
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0665586
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01698127
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt07473968
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07346
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0523927
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt035997
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0559924
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt034
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt034
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt014619518
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt057159
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt014676677
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt034
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt034
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearAmt034
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt034
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt015236601
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt015143445
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt093156
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Total509Grp/TotalAmt015236601
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt015143513
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt093156
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt00

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