ANSWER Scholarship Inc

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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

2015

Legal Domicile

Phone

7045441988

Tax Period

2023-07-01 to 2024-06-30

ANSWER Scholarship Inc, founded in 2015, is a small nonprofit in the Human Services sector that reported $245K in total revenue in fiscal year 2023. Expenses of $299K exceeded revenue, resulting in a 22% operating deficit.

Mission

To mentor and prepare mothers of school-age children to achieve a college education and inspire them to be role models of academic, personal, and professional success for their children.

Program Service Accomplishments

Program 1

Expenses: $94,121

MENTORS FOR MOM PROGRAM - ONE OF THE MOST IMPACTFUL THINGS WE DO FOR OUR SCHOLARS IS CONNECT THEM WITH A VOLUNTEER MENTOR THROUGH OUR MENTORS FOR MOM PROGRAM. MENTORS OFFER OUR SCHOLARS SUPPORT AND GUIDANCE ON BALANCING FAMILY, WORK AND SCHOOL. SCHOLARS MEET REGULARLY WITH THEIR MENTORS FOR ADVICE, MOTIVATION, OR SIMPLY AS A SOUNDING BOARD. SCHOLARS AND MENTORS ALSO CONVENE MONTHLY AS A GROUP, WHERE THEY SHARE EXPERIENCES AND LEARN FROM EXPERTS ON ESSENTIAL TOPICS, SUCH AS FINANCIAL PLANNING, PROFESSIONAL DEVELOPMENT AND WOMEN'S HEALTH. SCHOLARS MUST PARTICIPATE IN THE MENTORS FOR MOM PROGRAM AS PART OF THE SCHOLARSHIP TERMS. THIS PROGRAM IS UTILIZED TO GAUGE HOW WELL THE SCHOLARS ARE DOING IN SCHOOL, ALLOWING US TO IDENTIFY AND RESOLVE ISSUES BEFORE THEY BECOME SETBACKS.

Program 2

Expenses: $67,738

AT FOUNDATION FOR THE CAROLINAS, THE ENDOWMENT FUND IS CALLED THE ANSWER SCHOLARSHIP ENDOWMENT. ANSWER INC. UTILIZES THIS FUND AS A MEANS TO PROVIDE SCHOLARSHIPS FOR STUDENTS. IN 2024, FOUNDATION FOR THE CAROLINAS AWARDED $94,675 IN SCHOLARSHIPS TO ANSWER INC. SCHOLARS, $67,738 OF WHICH WAS PROVIDED BY ANSWER INC. THE REMAINING $26,937 WAS PROVIDED BY THE ENDOWMENT.

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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 $234,363

Program Service Revenue $0

Investment Income $268

Other Revenue $10,703

TOTAL REVENUE $245,334

Expense Breakdown

Grants Paid $67,738

Salaries & Benefits $182,800

Fundraising Expenses $90,779

Program Expenses $161,859

Other Expenses $48,934

TOTAL EXPENSES $299,472

Year-over-Year Comparison

	2023	2022	Change
Revenue	$245,334	$230,287	+0.1%
Expenses	$299,472	$280,957	+0.1%
Net Income	$-54,138	$-50,670	+0.1%

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

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

$37,433

Total Directors