Federal Student Scholarship Organization
Federal Student Scholarship Organization reported $12.2 million in revenue and $12.7 million in expenses for calendar year 2025. Of every $100 it spent, $97.54 went to program services, $2.26 to management and general costs and $0.20 to fundraising. Its largest source of revenue was contributions and grants: 98.7% of the total. The highest compensation it reported for one person was $242,643 (PRESIDENT & CEO). 1 person received more than $100,000 in reportable compensation. Revenue rose 64% between 2019 and 2025. Source: Form 990, 2025.
Where $100 of spending went
Calendar year 2025 · Form 990, Part IX, line 25 · total expenses $13MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2025 · Form 990, Part VIII · total revenue $12MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 97.5% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 2.3% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.2% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 98.7% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $242,643 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.91% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 1 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 4.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 3 of 4 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2025 · Form 990, Part III · the three largest programs by expenseThe organization is dedicated to offering students from low and middle income family opportunities to attend private schools of their parents' choice. During 2025, the organization awarded 3,803 scholarships to eligible students attending 102 private schools
Highest reported compensation
2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 50.00 hrs/week | $197,000 | $0 | $45,643 | $242,643 |
| TRUSTEE Director/trustee, 1.00 hrs/week | $2,000 | $0 | $0 | $2,000 |
| TRUSTEE Director/trustee, 1.00 hrs/week | $2,000 | $0 | $0 | $2,000 |
| TRUSTEE Director/trustee, 1.00 hrs/week | $2,000 | $0 | $0 | $2,000 |
1 people received more than $100,000 in reportable compensation from Federal Student Scholarship Organization (Part VII, line 2). Compensation of current officers, directors and key employees totaled $249K (Part IX, line 5).
7 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b4 · 3 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 55
Correct a figure or respond
Every number above is copied from Federal Student Scholarship Organization's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Federal Student Scholarship Organization, you can publish a response that is linked from this page.
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Of every $100 Federal Student Scholarship Organization spent in 2025, $97.54 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Federal Student Scholarship Organization's spending goes to programs?
In calendar year 2025, Federal Student Scholarship Organization reported that 97.5% of its $12.7 million in expenses went to program services, 2.3% to management and general and 0.2% to fundraising (Form 990, Part IX).
How much does Federal Student Scholarship Organization pay its top executive?
The largest total compensation Federal Student Scholarship Organization reported for one person in calendar year 2025 was $242,643, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Federal Student Scholarship Organization get its money?
Of $12.2 million in revenue in calendar year 2025, 98.7% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Federal Student Scholarship Organization a registered charity?
The IRS lists EIN 26-2903667 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024, 2025. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2025: Form 990 for calendar year 2025, object 202642109349300319 · read the filing
- 2024: Form 990 for calendar year 2024, object 202533219349306013 · read the filing
- 2023: Form 990 for calendar year 2023, object 202433209349312373 · read the filing
- 2022: Form 990 for calendar year 2022, object 202343199349319074 · read the filing
- 2021: Form 990 for calendar year 2021, object 202223199349304187 · read the filing
- 2020: Form 990 for calendar year 2020, object 202123169349310022 · read the filing
- 2019: Form 990 for calendar year 2019, object 202041539349300229 · read the filing
All filings for EIN 26-2903667: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.