CARSON SCHOLARS FUND INC (EIN 521851346) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

NANCY GRASMICK

Phone

4108281005

Tax Period

2023-07-01 to 2024-06-30

CARSON SCHOLARS FUND INC, founded in 1994, is a community nonprofit in the Education sector that reported $2.0M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $2.3M exceeded revenue, resulting in a 17% operating deficit.

Mission

THE FUND RECOGNIZES AND REWARDS PROMISING STUDENTS IN GRADES 4-11 WITH SCHOLARSHIPS TO COLLEGE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,161,357

Program Service Revenue $132,115

Investment Income $595,783

Other Revenue $91,442

TOTAL REVENUE $1,980,697

Expense Breakdown

Grants Paid $616,000

Salaries & Benefits $837,913

Fundraising Expenses $73,720

Program Expenses $2,084,267

Other Expenses $860,769

TOTAL EXPENSES $2,314,682

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,980,697	$1,830,742	+0.1%
Expenses	$2,314,682	$1,804,403	+0.3%
Net Income	$-333,985	$26,339	-13.7%

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

Employees

Volunteers

310

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

$230,467

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR BEN CARSON	CO-FOUNDER/BOARD MEMBER	5.00	Director	$0	$0	$0
CANDY CARSON	CO-FOUNDER/EXECUTIVE SECRETARY	5.00	Officer Director	$0	$0	$0
LEE WARNER	CHAIRMAN	3.00	Officer Director	$0	$0	$0
NANCY GRASMICK	PRESIDENT	3.00	Officer Director	$0	$0	$0
WES GUCKERT	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
GRAYLIN SMITH	TREASURER	3.00	Officer Director	$0	$0	$0
BENJAMIN CARSON JR	SECRETARY	3.00	Officer Director	$0	$0	$0
DAVID BOWER	BOARD MEMBER	1.00	Director	$0	$0	$0
MURRAY CARSON	BOARD MEMBER	1.00	Director	$0	$0	$0
GREGG COOPER	BOARD MEMBER	1.00	Director	$0	$0	$0
CORDELL CARTER II	BOARD MEMBER (FROM 2/2024)	1.00	Director	$0	$0	$0
CODY CROWELL	BOARD MEMBER	1.00	Director	$0	$0	$0
FRAN DONAHUE	BOARD MEMBER	1.00	Director	$0	$0	$0
ZACH DUDAN	BOARD MEMBER (FROM 11/2023)	1.00	Director	$0	$0	$0
ELAINE CLANCY	BOARD MEMBER (UNTIL 2/2024)	1.00	Director	$0	$0	$0
DAVID KASPARY JR	BOARD MEMBER (FROM 2/2024)	1.00	Director	$0	$0	$0
RYAN MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
YVES MOMBELEUR	BOARD MEMBER (FROM 2/2024)	1.00	Director	$0	$0	$0
TONY ROSE	BOARD MEMBER	1.00	Director	$0	$0	$0
ANTHONY TATA	BOARD MEMBER (FROM 11/2023)	1.00	Director	$0	$0	$0
JOHN VINGSEN	BOARD MEMBER (FROM 2/2024)	1.00	Director	$0	$0	$0
KATIE COLEMAN	EXECUTIVE DIRECTOR (FROM 8/2023)	35.00	Officer	$62,500	$0	$62,500
AMY WARNER	EXECUTIVE DIRECTOR EMERITA	35.00	Officer	$150,000	$17,967	$167,967

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	$1,980,697	$2,314,682	$16,376,052	$-333,985
2023	$1,830,742	$1,804,403	$16,271,930	$26,339
2022	$1,756,634	$1,882,545	$16,550,988	$-125,911
2021	$1,613,513	$1,802,980	$18,530,161	$-189,467
2020	$1,712,038	$1,743,350	$16,669,293	$-31,312
2019	$1,543,729	$1,975,524	$17,118,861	$-431,795

CARSON SCHOLARS FUND INC