PAY IT FORWARD SCHOLARSHIP FOUNDATI

EIN: 863816276 501(c)(3) Education

WINTERSET, IA

Total Revenue
$51,138
Total Expenses
$11,389
Total Assets
$212,066
Net Assets
$212,066
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
IA
Principal Officer
PATRICK CORKREAN
Tax Period
2024-01-01 to 2024-12-31

PAY IT FORWARD SCHOLARSHIP FOUNDATI, founded in 2021, is a micro nonprofit in the Education sector that reported $51K in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $40K, a strong 78% operating margin.

Mission

WORKING WITH THE WINTERSET COMMUNITY, THE FOUNDATION WILL PROVIDE MONETARY RESOURCES TO SUPPORT STUDENTS TO DEVELOP SKILLS NECESSARY TO BE SUCCESSFUL. THE FOUNDATION WILL ACHIEVE THIS PURPOSE BY PROVIDING SUSTAINED ACCESS TO COLLEGE AND/OR POST-SECONDARY JOB TRAINING AND SKILLS. WE WILL FOCUS OUR WORK ON EMPOWERING STUDENTS TO FIND THEIR VOICE AND TAKE AN ACTIVE ROLE IN CHANGING THEIR CURRENT SITUATION.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $43,690
Program Service Revenue $0
Investment Income $7,448
Other Revenue $0
TOTAL REVENUE $51,138

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $7,373
Other Expenses $11,389
TOTAL EXPENSES $11,389

Year-over-Year Comparison

2024 2023 Change
Revenue $51,138 $63,044 -0.2%
Expenses $11,389 $19,232 -0.4%
Net Income $39,749 $43,812 -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

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
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
3
$0
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENDRA ALEXANDER DIRECTOR N/A
Director
$0 $0 $0
LAURA BERTELSON DIRECTOR N/A
Director
$0 $0 $0
VICKI BRENNER DIRECTOR N/A
Director
$0 $0 $0
JOLYNN CORKREAN TREASURER N/A
Officer Director
$0 $0 $0
NANCY CORKREAN DIRECTOR N/A
Director
$0 $0 $0
PATRICK CORKREAN PRESIDENT N/A
Officer Director
$0 $0 $0
PETER CORKREAN DIRECTOR N/A
Director
$0 $0 $0
JUSTIN GROSS DIRECTOR N/A
Director
$0 $0 $0
STACY HILSABECK SECRETARY N/A
Officer Director
$0 $0 $0
RICK HOENIG DIRECTOR N/A
Director
$0 $0 $0
SANDY HOENIG DIRECTOR N/A
Director
$0 $0 $0
CANDY JORDAN DIRECTOR N/A
Director
$0 $0 $0
LEW JORDAN DIRECTOR N/A
Director
$0 $0 $0
NATALIE MONTROSS DIRECTOR N/A
Director
$0 $0 $0
AMY NOLAN DIRECTOR N/A
Director
$0 $0 $0
MARK SMITH DIRECTOR N/A
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 $51,138 $11,389 $212,066 $39,749
2023 $63,044 $19,232 $172,317 $43,812
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