Annual Gross Receipts That Are Normally Greater Than $100,000, and Did the Organ Ization Solicit Any Contributions That Were Not Tax Deductible?
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OMB No 1545-0047 P Return of Organization Exempt From Income Tax Form 990 U der section 501(c), 527, or 4947( a)(1) of the Internal Revenue Code (except black lung 2010 benefit trust or private foundation) Department of the Treasury Internal Revenue Serve The organization may have to use a copy of this return to satisfy state reporting requirements A For the 2010 calendar year, r tax year beginning . 2010 , and ending C Name of organizatlo D Employer Identification number B SCHOLARSHIP AMERICA, INC. 23-7039405 wnpeAOdrs Doing Business As d e e, Number and street (or P box if mail is not delivered to street address) Roomisude E Telephone number I^mstrewa ONE SCHOLAR WAY 1 (507) 931-0430 Tam,,,,,e City or town. state or coup and ZIP + 4 , oiled ST PETER, MN 56 82 G Gross receipts $ 22, 773, 108. AW'.b.^ F Name and address principal H(e) Ia this retum for panct ng of officer MURIEL SCHRECK a group )( Yes No 1 SCHOLARSHIP WA ST PETER, MN 56082 H(b) affiliates?Are as affilurtes included? Yes X No Tax-exempt status X V No-* anarh a gist (see instructions) 501(c)(3) 50 c) ( ) -4 (Insert no) 4 or 1 1 527 ATC H 1 J Websde: N/A ► H(c) Group exemptwn number ► 1546 K Form of organi X zation Corporation Trust Association Other ► L Yearof formation 19581 M State of legal domole MA 113 Summary I Briefly describe theorganization's mission or ostsigniftcantacUvftles ------------------------------------------- THE MISSION OF SCHOLARSHIP AMERICA IS TO MOBILIZE AMERICA THROUGH m --------------------------- c SCHOLARSHIPS AND EDUCATIONAL -------------------SUPPORT TO MAKE POSTSECONDARY--------- ------------------------------EDUCATION M --------------------------- --------------------------------------------------------- c POSSIBLE FOR ALL STUDENTS. OU CHAPTERS DELIVER THIS MISSION. ----------------------------- ----------------------------o---------------------------- CV 2 Check this box ► Q if the organization discontl edits open ons ar disposed of more than 25% of its net assets CO ottO 3 Number of voting members of the governing body (Pa VI, line 1 ) ^. :_. i ._ 3 3, 184. in 4 Number of independent voting members of the goveml body art SAE-Ib)_ 4 3, 184 . > 5 Total number of individuals employed in calendar year 20 0 (Pa & ine 2a) - ~- U . 5 11 O Q 6 Total number of volunteers (estimate if necessary) . N .QC T 0.4 fl1' I -N 6 35, 000 . 7a Total gross unrelated business revenue from Part VIII , colum ( Ui a 12 G7 7a 0 b Net unrelated business taxable income from Form 990 -T, line •a: -.„ . 7b LIJ l,-t"4 6 .^^") ^ Prior Year Current Year Z 8 Contributions and grants (Part VIII, line 1h ) -1 23, 901, 183. 17,025,92B. Z E 9 Program service revenue (Part VIII, line 2g ) . • . • • _ . , . , . , . 0. 0, 1 Investment Income (Part VIII, column (A), lines 3 , 4, and 7d) . _ . 2, 928, 080. 3,917,522. 1i Other revenue (Part Vill, column (A), lines 5 , 6d, 8c, 9c, 10c , and 11e ) . 0 1,663,215. 1, 259, 074 . 12 Total revenue - add lines 8 through 11 (must equal Part VIII, column (A), me 12 ) 8, 492, 478. 22, 202, 524 13 ntseand similar amounts paid (Part IX, column (A), lines 1-3) 7 , 321, 857. 14 , 04 9, 17 5 . 14 BrLfi`I aid to or for members ( Part IX , column (A), line 4) 0 . 0 . m 15 Salaries , other compensation , employee benefits ( Part IX , column (A), lines 10) 0 . 0 . 2 j'6T 0Ces$lfundraising fees ( Part IX, column (A), line 11e) 0 . 0 . bTotalfuundrraisingexpenses ( Part IX , column ( D),line25 ) 86 7,01 . RE a Otherexpe ses Part IX , column (A), lines 1a- 11d, 11f-24f) 1 , 842, 480 . 2, 225, 806. 13 17 ( must equal Part IX , column (A), Ime 25 ) 9, 169, 337 , 16,274,981. 19 Revenue less expenses Subtract line 18 from line 12 9, 328, 141. 5,927,543. Beginning of Current Year End of Year 20 Total assets ( Part X, line 16) . , • , • • • • _ _ • • , . , • • • • • ... • . 138, 322, 774. 127, 149, 609. a.a 21 Total liabilities ( Part X , line 26) 0. 0. 3 22 Net assets or fund balances Subtract line 21 from line 20 138,322,774. 127,149,609. signature Block Under penalties of perjury, I declare that I have examined this return , including accompanying schedules and state nts , and to the best of my knowledge and belief, it is true, correct, and complete Declaration of preparer (other than officer) is based on all information of which preparer has 1kny knowledge Sign Here Signature of offiicei- An n - { ' Type or print name and trite Print/Type preparer's name Preparer's sign-*- Paidold CINDI FULLER P reparer KPMG LLP Use Only Firm's name ► May the IRS discuss this return with the preparer shown above? (see Instruction For Paperwork Reduction Act Notice , see the separate instructions. JSA OE101o7000 ALRS2H 7383 V 10- Form 990 (2010) 23-7039405 Page 2 Statement of Program Service Accomplishments Check if Schedule 0 contains a response to any question in this Part III .... .. 1 Briefly describe the organization's mission: ATTACHMENT 2 2 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? Yes I A No If "Yes,"describe these new services on Schedule 0 3 Did the organization cease conducting, or make significant changes in how it conducts , any program services? If 'Yes ," describe these changes on Schedule 0 4 Describe the exempt purpose achievements for each of the organization 's three largest program services by expenses Section 501(c)(3) and 501 (c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others , the total expenses , and revenue , if any, for each program service reported. 4a (Code . ) (Expenses $ 14, 290, 293 including grants of $ 14.009 , 17s ) (Revenue $ ATTACHMENT 3 4b (Code' ) ( Expenses $ including grants of $ ) (Revenue $ 4c (Code ) (Expenses $ including grants of $ ) (Revenue $ 4d Other program services. (Describe in Schedule O ) (Expenses $ including grants of $ ) (Revenue $ } 14, 280, 293. 4e Total program service expenses ► JSn Form 990 (2010) 0E1020 1 000 ALRS2H 7383 V 10-6.1 499829 PAGE 2 Form 990 (2010) 23-7039405 Page 3 MOUT-Checklist of Req uired Schedules Yes No Is I the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If 'Yes,' complete Schedule A .. .. ... ..... .... .. .... ... .... .. ... ... .. .. 1 X 2 Is the organization required to complete Schedule B, Schedule of Contributors? (see instructions) ........ 2 3 Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes, "complete Schedule C, Part I . ... ... .... ... ....... 3 X 4 Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes, 'complete Schedule C, Part 11 . .. .... ... .... ... .... 4 X 5 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes,"complete Schedule C, Part III ......................................................... 5 6 Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part ! ................. .................. ........... 6 X 7 Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures? If "Yes, "complete Schedule D, Part 11. .. ...... 7 X 8 Did the organization maintain collections of works of art, historical treasures, or other similar assets?/f "Yes," complete Schedule D, Part 1!! .......................... ... ................ 8 X 9 Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X, or provide credit counseling, debt management, credit repair, or debt negotiation services? If `Yes," complete Schedule D, Part IV .. ... ... .......... ... .. .. .. ....... ... .... 9 X 10 Did the organization, directly or through a related organization, hold assets in term, permanent, or quasi-endowments? If "Yes, "complete Schedule D, Part V . ...... .. ..... .. .... ... ... 10 X 11 If the organization's answer to any of the following questions is "Yes," then complete Schedule D. Parts VI, '^ - VII, Vill, IX, or X as applicable. soo a Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes,"complete Schedule 0, Part V! .... .. .... ... ... ... .. ... .. .... .. ... ....... ... 11a X b Did the organization report an amount for investments-othersecurities in Part X. line 12 that is 5% or more of its total assets reported in Part X. line 16? If "Yes, "complete Schedule D, Part VII . ............. 11b X c Did the organization report an amount for investments-program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes, "complete Schedule D, Part Vffl ... ............ i1 c X d Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes, "complete Schedule D, Part IX .... ... ...... ......... 11 d K e Did the organization report an amount for other liabilities in Part X, line 25? If "Yes, "complete Schedule D, Part X 11e X If Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes,'complete Schedule D, Parf X . , . lit X 12 a Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete Schedule D, Parts Xl, Xf!, and Xlll .........