Education : Scholarship and Financial Support
On June 1, 2016 ThanksUSA received an overall score of 88.30, resulting in a 3-star rating. This rating was based on financial data reported in 2014 IRS Form 990, and was adversely affected by the Liabilities to Assets ratio, which was calculated at 33% at the time of reporting.
ThanksUSA’s Liabilities to Assets ratio was artificially inflated as a result of making the second installment payment for our 2014 scholarship recipients of $443,999.50 in early January 2015 vice before the end of the fiscal year ending on December 31, 2014.
The timing of the second installment to our scholarship recipients reflected a difference of only three weeks. If we had made the second installment payment of $443,999.50 prior to December 31, 2014 our Liabilities to Assets ratio would have been calculated at 5%, rather than 33%. With a Liabilities to Assets ratio of only 5%, ThanksUSA would have earned an additional 2.5 points toward our overall Charity Navigator rating, placing us firmly in the 4-star category as a 501c3 organization, which is consistent with what we earned in 2014.
As a result of these findings, ThanksUSA will ensure the disbursement of our second installment payments to scholarship recipients no later than December 31 each year as a normal business practice going forward.