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Psi Alpha Scholarship Foundation

EIN 74-2560683 · San Antonio, TX

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

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceWeak48 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Raising each dollar of donations cost 61 cents.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE PURPOSES FOR WHICH THIS CORPORATION IS INCORPORATED ARE THOSE SET FORTH IN THE ARTICLES OF INCORPORATION. SPECIFICALLY, THE CORPORATION WAS FORMED FOR THE EXPRESS PURPOSE OF PROVIDING SCHOLARSHIPS TO HIGH-SCHOOL SENIORS, AND WHEN APPROPRIATE, TO PROVIDE SUPPLEMENTARY SCHOLARSHIPS FOR THESE INDIVIDUALS THROUGHOUT THEIR COLLEGE CAREER. THESE SCHOLARSHIPS WILL BE AWARDED DIRECTLY TO INDIVIDUALS AS A RESULT OF SAID INDIVIDUALS MEETING A SET OF CRITERIA PRE-ESTABLISHED BY THE CORPORATION. AS AN ALTERNATIVE, THE CORPORATION MAY CONDUCT AN ACADEMIC OR AN ACADEMIC/TALENT COMPETITION OR A SERIES OF COMPETITIONS TO DETERMINE THE RECIPIENT OF A SCHOLARSHIP. THESE COMPETITIONS AND THEIR ASSOCIATED PUBLICITY WILL SERVE TO INSTILL IN THE PARTICIPANTS AND THEIR PEER GROUPS THE IMPORTANCE OF AND THE BENEFITS WHICH CAN BE DERIVED FROM ACADEMIC EXCELLENCE. ON OCCASION, SCHOLARSHIP FUNDS WILL BE DONATED TO AND ADMINISTERED BY AN ORGANIZATION WHICH USES SIMILAR CRITERIA TO SELECT THE RECIPIENTS OF ITS

Income
$338,236
Spending
$375,900
Spent on programs
87%
Reserves
8.5 months of spending
Largest source of income
fees for its services, 85%
Employees
0
Volunteers
216

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

Fair: 67 out of 100.

  • Reserves

    28 of 35

    Spendable reserves would cover 8.5 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 11% of income.

  • Income trend

    15 of 15

    Income rose 11% on the year before.

  • Spending floor

    0 of 15

    87% of spending went to programs and raising each dollar of donations cost 61 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

Weak: 48 out of 100.

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    6 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 (3)
  1. $125,764 spent. 1. SCHOLARSHIP COMMITTEE SCHOLARSHIPS - 50,000.00 2. SCHOLARSHIP STIPEND- 4,500.00 (FOUNDATION WILL ALLOT FOR ADDITIONAL STIPEND E.G., 50-PLUS CLUB, ETC.) 3. SCHOLARSHIP AWARDS LUNCHEON & PHOTOGRAPHER- 6,800.00 4. ACHIEVEMENT WEEK HIGH SCHOOL ESSAY CONTEST - 1,500.00 5. SAN ANTONIO AREA TALENT HUNT PRIZE MONEY - 2,250.00 6. YOUTH LEADERSHIP CONFERENCE ESSAY SCHOLARSHIPS - 1,500.00 7. STEM PROGRAM INDIVIDUAL, GROUP AND COMPETITION STEM KITS - 1,150.00 (SUPPORTED STEM KITS TO NAMED INDIVIDUALS IN STEM GROUP) SCHOLARSHIP STIPEND NOTE: 500.00 ADDED BY PASF TO EACH 1,500.00 CHAPTER SCHOLARSHIP TO ACHIEVE 2,000.00 PAYMENT TO EACH AWARDEE. TOTAL 2024 GRANTS: 67,700.00 1. SCHOLARSHIP COMMITTEE SCHOLARSHIPS - 50,000.00 2. SCHOLARSHIP STIPEND- 4,500.00 (FOUNDATION WILL ALLOT FOR ADDITIONAL STIPEND E.G., 50-PLUS CLUB, ETC.) 3. SCHOLARSHIP AWARDS LUNCHEON & PHOTOGRAPHER- 6,800.00 4. ACHIEVEMENT WEEK HIGH SCHOOL ESSAY CONTEST - 1,500.00 5. SAN ANTONIO AREA TALENT HUNT PRIZE MONEY - 2,250.00 6. YOUTH LEADERSHIP CONFERENCE ESSAY SCHOLARSHIPS - 1,500.00 7. STEM PROGRAM INDIVIDUAL, GROUP AND COMPETITION STEM KITS - 1,150.00 (SUPPORTED STEM KITS TO NAMED INDIVIDUALS IN STEM GROUP) SCHOLARSHIP STIPEND NOTE: 500.00 ADDED BY PASF TO EACH 1,500.00 CHAPTER SCHOLARSHIP TO ACHIEVE 2,000.00 PAYMENT TO EACH AWARDEE. TOTAL 2024 GRANTS: 67,700.00
  2. $201,424 spent. 1. SCHOLARSHIP COMMITTEE SCHOLARSHIPS - 50,000.00 2. SCHOLARSHIP STIPEND- 4,500.00 (FOUNDATION WILL ALLOT FOR ADDITIONAL STIPEND E.G., 50-PLUS CLUB, ETC.) 3. SCHOLARSHIP AWARDS LUNCHEON & PHOTOGRAPHER- 6,800.00 4. ACHIEVEMENT WEEK HIGH SCHOOL ESSAY CONTEST - 1,500.00 5. SAN ANTONIO AREA TALENT HUNT PRIZE MONEY - 2,250.00 6. YOUTH LEADERSHIP CONFERENCE ESSAY SCHOLARSHIPS - 1,500.00 7. STEM PROGRAM INDIVIDUAL, GROUP AND COMPETITION STEM KITS - 1,150.00 (SUPPORTED STEM KITS TO NAMED INDIVIDUALS IN STEM GROUP) SCHOLARSHIP STIPEND NOTE: 500.00 ADDED BY PASF TO EACH 1,500.00 CHAPTER SCHOLARSHIP TO ACHIEVE 2,000.00 PAYMENT TO EACH AWARDEE. TOTAL 2024 GRANTS: 67,700.00
  3. 1. SCHOLARSHIP COMMITTEE SCHOLARSHIPS - 50,000.00 2. SCHOLARSHIP STIPEND- 4,500.00 (FOUNDATION WILL ALLOT FOR ADDITIONAL STIPEND E.G., 50-PLUS CLUB, ETC.) 3. SCHOLARSHIP AWARDS LUNCHEON & PHOTOGRAPHER- 6,800.00 4. ACHIEVEMENT WEEK HIGH SCHOOL ESSAY CONTEST - 1,500.00 5. SAN ANTONIO AREA TALENT HUNT PRIZE MONEY - 2,250.00 6. YOUTH LEADERSHIP CONFERENCE ESSAY SCHOLARSHIPS - 1,500.00 7. STEM PROGRAM INDIVIDUAL, GROUP AND COMPETITION STEM KITS - 1,150.00 (SUPPORTED STEM KITS TO NAMED INDIVIDUALS IN STEM GROUP) SCHOLARSHIP STIPEND NOTE: 500.00 ADDED BY PASF TO EACH 1,500.00 CHAPTER SCHOLARSHIP TO ACHIEVE 2,000.00 PAYMENT TO EACH AWARDEE. TOTAL 2024 GRANTS: 67,700.00

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 October 13, 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 May 1991.

    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 October 21, 2026.

  7. Could it be confused with another charity? Worth knowing.

    A much larger organization has a similar name: Aaa Scholarship Foundation Inc (Tampa, FL), EIN 27-2559468. If that is the one you meant, check the EIN before giving.

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