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Answer Scholarship Inc

EIN 81-0834789 · Charlotte, NC

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

LegitimacyPassesRegistration and standingFinancial healthGood79 out of 100GovernanceStrong92 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$294,416
Spending
$296,621
Spent on programs
58%
Reserves
7.5 months of spending
Largest source of income
donations and private grants, 98%
Employees
3
Volunteers
60
Highest pay
$40,044, executive dir.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 79 out of 100. Higher than 59% of charities in its peer group (human services, $250k to $1m).

  • Reserves

    28 of 35

    Spendable reserves would cover 7.5 months of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 1% of income.

  • Income trend

    15 of 15

    Income rose 20% on the year before.

  • Spending floor

    8 of 15

    58% of spending went to programs and raising each dollar of donations cost 25 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 92 out of 100. Higher than 86% of charities in its peer group (human services, $250k to $1m).

  • Independent board

    25 of 25

    10 of 11 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

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    12 of 15

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

  • No reported misuse

    10 of 10

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

Source: Form 990 for the year ending June 30, 2025, 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 (2)
  1. $93,559 spent. 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.
  2. $78,174 spent. 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 $97,625 IN SCHOLARSHIPS TO ANSWER INC. SCHOLARS, $78,174 OF WHICH WAS PROVIDED BY ANSWER INC. THE REMAINING $19,451 WAS PROVIDED BY THE ENDOWMENT.

Source: Form 990 for the year ending June 30, 2025, 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 June 2025.

    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 2016.

    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.