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Shawn Carter Scholarship Fund

EIN 11-3662240 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO HELP INDIVIDUALS FACING SOCIO-ECONOMIC HARDSHIPS FURTHER THEIR EDUCATION AT POST SECONDARY INSTITUTIONS BY PROVIDING THEM WITH EDUCATIONAL SCHOLARSHIPS AND RELATED EDUCATIONAL SUPPORT SERVICES AND EXPERIENCES TO ENSURE THEIR PATH TOWARDS SUCCESS.

Income
$5.1 million
Spending
$1.5 million
Spent on programs
86%
Reserves
Over 10 years of spending
Largest source of income
donations and private grants, 86%
Employees
2
Volunteers
63
Highest pay
$93,151, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 71% of charities in its peer group (education, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover more than ten years of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 71% of income.

  • Income trend

    0 of 15

    Income fell 53% on the year before.

  • Spending floor

    15 of 15

    86% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 85 out of 100. Higher than 47% of charities in its peer group (education, $1m to $10m).

  • Independent board

    25 of 25

    4 of 5 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $576,257 spent. WEALTH BUILDING: OUR FINANCIAL EDUCATION PORTFOLIO WHICH INCLUDED THE LAUNCH OF THE CHAMPIONS FOR FINANCIAL LEGACY PROGRAM, A WEALTH BUILDING COURSE AND PROGRAM CURRENTLY OFFERED AT 3 HBCUS; AND THE THIRD YEAR OFFERING OF TBA, A BITCOIN AND FINANCIAL EDUCATION PROGRAM FOR RESIDENTS AT MARCY HOUSES IN BROOKLYN, NY.
  2. $331,750 spent. NATIONAL SCHOLARSHIP FUND: HELPS INDIVIDUALS FACING SOCIO-ECONOMIC HARDSHIPS FURTHER THEIR EDUCATION AT INSTITUTIONS OF HIGHER LEARNING BY PROVIDING THEM WITH EDUCATIONAL SCHOLARSHIPS AND RELATED EDUCATIONAL SUPPORT SERVICES TO ENSURE THEIR PATH TOWARD SUCCESS. SCHOLARSHIPS ALLOCATED TO QUALIFIED APPLICANT STUDENTS IN NEED ARE SELECTED BY AN ADMISSIONS COMMITTEE COMPRISED OF THE FOUNDATION'S MANAGEMENT TEAM, STAFF, AND VOLUNTEERS. THE FUND PROVIDED 308 STUDENTS WITH SCHOLARSHIP AWARDS.
  3. $109,989 spent. ANNUAL HBCU BUS TOUR: EXPOSES HIGH SCHOOL YOUTH TO DIFFERENT COLLEGES IN ORDER TO PROMOTE INCREASED COLLEGE ATTENDANCE. 38 STUDENTS PARTICIPATED IN THE 2024 HBCU BUS TOUR.
  4. $270,585 spent. THROUGH OUR COMMUNITY GOODWILL PROGRAMS, WHICH INCLUDE THE TOY GIVEAWAY AND MARCY BACK TO SCHOOL TOURNAMENT, OVER $86,000 WAS SPENT ON OVER 2,000 YOUTH AND FAMILIES WHO PARTICIPATED. IN ADDITION OVER $46,000 WAS SPENT ON SUPPORTING 5 STUDENTS AS PART OF THE JOSH DUBIN FELLOWSHIP, A PROFESSIONAL AND EDUCATIONAL DEVELOPMENT PROGRAM IN THE LEGAL FIELD.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since July 2003.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.