Health Scholarships Inc: $208.5M Revenue, $179.6M Program Expenses

Health Scholarships Inc grades a B on the nonprofit efficiency rubric. 68/100 on the composite — above the national median, with strong performance on some factors balanced by middling performance on others.

Health Scholarships Inc is a large nonprofit by U.S. standards: $208.5M in 2023 revenue against $230.3M in expenses. Organizations in this revenue bracket usually run multiple programs with permanent staff and a meaningful endowment or reserve. Health Scholarships Inc directs 80% of its expenses to programs — above the third-party-rater threshold for an efficient organization.

Five-year revenue trend is mildly negative: a modest decline that could reflect grant-cycle timing, donor turnover, or program wind-down. Worth checking against the program-spending pattern to see whether the decline is structural. CEO compensation is reported as zero in the filing — typical for nonprofits where the chief executive is paid through a related entity (parent system, university, or foundation) rather than the filing organization itself, or for small organizations whose chief is a volunteer or board member. In the Education category, Health Scholarships Inc sits alongside universities, K-12 systems, scholarship funds, and education-research organizations. Education-sector nonprofits often hold large endowments, which affects how the reserves-and-revenue ratios should be read.