AUDITED FINANCIAL STATEMENTS

During the fiscal year ending June 30, 2011, Scholarship America’s national office raised $162 million and distributed $151 million as scholarships. The total distribution of $205 million, noted elsewhere in this report, includes $43 million distributed to students by our independent chapters, as well asdeferred awards. Scholarship America maintains a strong financial position with net assets of $136 million and cash and investments totaling $169 million.

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