THOMAS JERNIGAN SCHOLARSHIP

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2006

Legal Domicile

Phone

4127525629

Tax Period

2024-01-01 to 2024-12-31

THOMAS JERNIGAN SCHOLARSHIP, founded in 2006, is a small nonprofit in the Education sector that reported $480K in total revenue in fiscal year 2024. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $294K, a strong 61% operating margin.

Mission

A supporting organization established to support Birmingham Southern College.

Program Service Accomplishments

Program 1

Expenses: $156,511

THE TRUST SHALL DISTRIBUTE INCOME TO BIRMINGHAM SOUTHERN COLLEGE,THE SUPPORTED ORGANIZATION, TO AWARD AND ADMINISTER SCHOLARSHIPS PURSUANT TO THE JERNIGAN SCHOLARSHIP AGREEMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $480,178

Other Revenue $0

TOTAL REVENUE $480,178

Expense Breakdown

Grants Paid $131,558

Salaries & Benefits $41,588

Fundraising Expenses $0

Program Expenses $156,511

Other Expenses $13,026

TOTAL EXPENSES $186,172

Year-over-Year Comparison

	2024	2023	Change
Revenue	$480,178	$301,817	+0.6%
Expenses	$186,172	$52,871	+2.5%
Net Income	$294,006	$248,946	+0.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PNC BANK N A	TRUSTEE	9.0		$41,588	$0	$41,588

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$480,178	$186,172	$7,133,854	$294,006
2023	$301,817	$52,871	$6,838,083	$248,946
2022	$170,317	$51,569	$6,591,042	$118,748
2021	$590,852	$124,406	$6,471,769	$466,446
2020	$291,892	$126,285	$6,004,825	$165,607
2019	$236,611	$110,760	$5,841,794	$125,851
2018	$267,519	$156,350	$5,714,545	$111,169