SCHOLARSHIP FOUNDATION OF INDIAN R… - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

SCOTT SCHWARTZ

Phone

7725699869

Tax Period

2024-01-01 to 2024-12-31

SCHOLARSHIP FOUNDATION OF INDIAN RIVER COUNTY INC, founded in 1999, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $435K, a strong 35% operating margin.

Mission

SCHOLARSHIP FOUNDATION OF IRC PROVIDES HOPE, ENCOURAGEMENT AND NEED-BASED SCHOLARSHIPS TO INDIAN RIVER COUNTY STUDENTS WITH THE DESIRE AND ABILITY TO SUCCEED IN POST-SECONDARY EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $667,130

SCHOLARSHIP FOUNDATION AWARDS MULTI-YEAR SCHOLARSHIPS THAT ARE RENEWABLE IF RECIPIENTS MEET ACADEMIC AND PAPERWORK REQUIREMENTS. IN 2024, WE PAID 572,778 IN AWARDS, RANGING FROM 1,000 TO 7,500 TO 116 NEW AND RETURNING STUDENTS.WE MADE NEW AWARDS TOTALING 727,750 TO THE 38 RECIPIENTS IN THE CLASS OF 2024.

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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 $682,960

Program Service Revenue $0

Investment Income $551,708

Other Revenue $0

TOTAL REVENUE $1,234,668

Expense Breakdown

Grants Paid $572,778

Salaries & Benefits $116,808

Fundraising Expenses $61,285

Program Expenses $667,130

Other Expenses $110,043

TOTAL EXPENSES $799,629

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,234,668	$1,744,803	-0.3%
Expenses	$799,629	$782,452	+0.0%
Net Income	$435,039	$962,351	-0.5%

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

100

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
SCOTT SCHWARTZ	PRESIDENT	5.00	Officer Director	$0	$0	$0
ELIZABETH SORENSEN	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
MARY JOHNSTON	TREASURER	5.00	Officer Director	$0	$0	$0
SUSAN CHENAULT	SECRETARY	5.00	Officer Director	$0	$0	$0
JONATHAN STERNBERG	PAST PRESIDE	5.00	Officer Director	$0	$0	$0
JOAN COOK	DIRECTOR	2.00	Director	$0	$0	$0
ANN BIXEL WALD	DIRECTOR	2.00	Director	$0	$0	$0
GAYE LUDWIG	DIRECTOR	20.00	Director	$0	$0	$0
TYLER PUTTICK	DIRECTOR	2.00	Director	$0	$0	$0
JONATHAN SCHWIERING	DIRECTOR	2.00	Director	$0	$0	$0
BOBBY SEXTON	DIRECTOR	2.00	Director	$0	$0	$0
SAVANNAH UNRUH	DIRECTOR	2.00	Director	$0	$0	$0

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
2024	$1,234,668	$799,629	$14,481,783	$435,039
2023	$1,744,803	$782,452	$13,100,551	$962,351
2022	$1,131,720	$705,233	$11,756,172	$426,487
2021	$1,627,778	$669,301	$13,279,874	$958,477
2020	$854,222	$696,019	$11,997,016	$158,203
2019	$1,482,477	$709,195	$11,399,907	$773,282
2018	$693,564	$773,523	$9,392,745	$-79,959

SCHOLARSHIP FOUNDATION OF INDIAN RIVER COUNTY INC