2023-05-31T12:58:11-05:00 2022-06-30 521231901 GORFINE SCHILLER & GARDYN PA 10045 RED RUN BLVD SUITE 250 OWINGS MILLS MD 21117 990 2021-07-01 526012589 THE CENTRAL SCHOLARSHIP BUREAU INC CENT 4104155558 6 PARK CENTER COURT SUITE 211 OWINGS MILLS MD 21117 TIERRA DORSEY PRESIDENT 4104155558 2023-05-30 1 TIERRA DORSEY 999009999 SCOTT D RODGVILLE CPA P00365285 4103565900 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z X CENTRAL SCHOLARSHIP TIERRA DORSEY 6 PARK CENTER COURT OWINGS MILLS MD 21117 1818528 0 X WWW.CENTRAL-SCHOLARSHIP.ORG X 1924 MD TO HELP MARYLANDERS FULFILL THEIR DREAMS OF PURSUING HIGHER EDUCATIONBY MAKING HIGHER EDUCATION MORE AFFORDABLE. 20 18 13 23 266838 264934 1326912 1233080 0 0 514743 189329 45914 389431 1887569 1811840 761420 731136 0 0 655865 525854 0 0 139791 328476 515688 1745761 1772678 141808 39162 13449299 11833358 166332 117740 13282967 11715618 X THE CENTRAL SCHOLARSHIP BUREAU, INC. (ORGANIZATION) IS A MARYLAND NON-STOCK NOT-FOR-PROFIT ORGANIZATION THAT HELPS MARYLANDERS FULFILL THEIR DREAMS OF PURSUING HIGHER EDUCATION BY MAKING HIGHER EDUCATION MORE AFFORDABLE. (CONTINUED IN SCHEDULE O)THE ORGANIZATION AWARDS NEED-BASED SCHOLARSHIPS AND INTEREST-FREE LOANS TO HIGH-PERFORMING STUDENTS THROUGHOUT MARYLAND, OFFERS COLLEGE CASH FINANCIAL EDUCATION SEMINARS TO STUDENTS AND PARENTS TO HELP THEM BECOME MORE INFORMED HIGHER EDUCATION CONSUMERS AND ADVOCATES FOR LEGISLATION THAT MAKES HIGHER EDUCATION MORE AFFORDABLE FOR ALL MARYLANDERS. 0 0 1050172 665804 CENTRAL SCHOLARSHIP (CS) PROVIDES NEED-BASED SCHOLARSHIPS FOR HIGH-PERFORMING STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL DEGREES. FOR MOST PROGRAMS, STUDENTS ARE ELIGIBLE FOR UP TO $11,000 PER YEAR IN ASSISTANCE FOR POST-SECONDARY EDUCATION. DURING THE FISCAL YEAR ENDED JUNE 30, 2022, CS PROCESSED NEARLY 2,164 APPLICATIONS AND AWARDED 405 SCHOLARSHIPS TO STUDENTS.(EMERGENCY GRANTS) CS PROVIDES STUDENTS ALREADY RECEIVING EDUCATION FUNDING FOR DEGREE PROGRAMS WITH EMERGENCY GRANTS FOR NON-EDUCATION EXPENSES. EXAMPLES OF SUCH EXPENSES INCLUDE MEDICAL BILLS, TRANSPORTATION EMERGENCIES, OR REPLACEMENT OF ESSENTIAL BELONGINGS AFTER THEFT OR FIRE. DURING THE FISCAL YEAR ENDING ON JUNE 30, 2022, CS MADE EMERGENCY GRANTS TO 11 STUDENTS TOTALING $11,913.94. 221900 INTEREST-FREE LOANS ARE AWARDED TO STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOL DEGREES WHO QUALIFY BASED ON FINANCIAL NEED AND ACADEMIC PERFORMANCE. STUDENTS ARE ELIGIBLE FOR UP TO $10,000 PER YEAR IN ASSISTANCE FOR POST-SECONDARY EDUCATION. NEW LOANS OF $166,500 WERE AWARDED TO 33 STUDENTS IN THE FISCAL YEAR ENDING JUNE 30, 2022. CENTRAL SCHOLARSHIP (CS) ALSO MANAGED EXISTING LOANS OF APPROXIMATELY $2,153,200 FOR MORE THAN 400 STUDENTS. 103048 65332 CAREER-TRAINING SCHOLARSHIPS ARE AVAILABLE FOR FIELDS WHERE THERE IS A VERIFIED WORKFORCE DEMAND, AN OPPORTUNITY TO EARN A LIVING WAGE, RECOGNIZED CREDENTIALS UPON PROGRAM COMPLETION AND A PATH FOR CAREER ADVANCEMENT. STUDENTS ARE QUALIFIED BASED ON FINANCIAL NEED, WITH PREFERENCE GIVEN TO BALTIMORE CITY RESIDENTS. DURING THE FISCAL YEAR ENDING ON JUNE 30, 2022, CS AWARDED CAREER-TRAINING SCHOLARSHIPS TO 10 STUDENTS. COLLEGE CASH IS A FINANCIAL EDUCATION SERIES OFFERED AS A FREE PUBLIC SERVICE THAT HELPS STUDENTS AND PARENTS NAVIGATE THE COMPLEX FINANCIAL OPTIONS AVAILABLE TO COLLEGE-BOUND STUDENTS. THE GOAL IS TO ENSURE THAT STUDENTS AND PARENTS ARE MAKING INFORMED FINANCIAL CHOICES WHEN SELECTING A COLLEGE. THE ADVOCACY PROGRAM CONTINUES TO FOCUS ON SCHOLARSHIP AWARD DISPLACEMENT, WHICH HAPPENS WHEN COLLEGES REDUCE THEIR INSTITUTIONAL SCHOLARSHIP AFTER A STUDENT RECEIVES A PRIVATE SCHOLARSHIP. CS HAS SIGNED AGREEMENTS WITH 13 PRIVATE COLLEGES IN MARYLAND WHO AGREED NOT TO DISPLACE PRIVATE SCHOLARSHIPS ISSUED BY CENTRAL SCHOLARSHIP. 1375120 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 4 0 1 13 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 20 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X X TIERRA DORSEY 4104155558 6 PARK CENTER COURT SUITE 211 OWINGS MILLS MD 21117 JERRY FOCAS DIRECTOR 1.00 X 0 0 0 RUSS CAUSEY IMMEDIATE PAST BOARD CHAIR 2.00 X X 0 0 0 DAVID ROTHSCHILD BOARD CHAIR 2.00 X X 0 0 0 TIM REDMOND TREASURER 2.00 X X 0 0 0 IRA WAGNER PAST BOARD CHAIR 2.00 X 0 0 0 MOLLY SHOCK VICE CHAIR 2.00 X 0 0 0 LARRY KAMANITZ PAST BOARD CHAIR 2.00 X 0 0 0 MICHAEL WARD PAST BOARD CHAIR 2.00 X 0 0 0 JEAN WYMAN SECRETARY 2.00 X X 0 0 0 LIZ BLOCK DIRECTOR 1.00 X 0 0 0 LELAND SHELTON DIRECTOR 1.00 X 0 0 0 SUSAN SILBERMAN DIRECTOR 1.00 X 0 0 0 MICHAEL DAVENPORT DIRECTOR 1.00 X 0 0 0 BRUCE ROSENBERG DIRECTOR 1.00 X 0 0 0 KEVIN FUDGE DIRECTOR 1.00 X 0 0 0 DAVID FISHMAN DIRECTOR 1.00 X 0 0 0 ARNOLD FRUMAN DIRECTOR 1.00 X 0 0 0 BARBARA KORNBLATT DIRECTOR 1.00 X 0 0 0 TIERRA A DORSEY PRESIDENT SINCE MARCH, 2021 40.00 X X 114241 0 3183 JAN WAGNER PRESIDENT THROUGH MARCH, 2021 40.00 X X 66952 0 3879 181193 0 7062 1 0 0 0 0 130000 1103080 1233080 121708 121708 74309 6688 67621 67621 67621 PARTNERSHIP INCOME - V 900099 389431 266838 122593 389431 1811840 0 266838 311922 731136 731136 155993 129474 23399 3120 295747 126792 66397 102558 5540 1538 1399 2603 32399 18009 6509 7881 36175 20376 7217 8582 141139 103031 35285 2823 16272 16272 17400 17400 31944 30347 1597 17356 13017 3471 868 38251 31749 5737 765 64747 50503 12949 1295 510 423 77 10 1478 765 639 74 1786 1482 268 36 10427 7090 3128 209 UBIT EXPENSE 68716 68716 OTHER PROGRAM SERVICES 53406 53406 MEMBERSHIP AND PUBLICAT 30653 21457 3065 6131 TELEPHONE 8164 6532 1224 408 13439 10593 2015 831 1772678 1375120 257767 139791 1287411 876321 648364 131863 64400 1969415 1814194 8412 44450 79897 75063 6961 4834 10043344 8336177 1893 44618 13449299 11833358 31332 108088 5000 2000 130000 7652 166332 117740 X 5207806 4262106 8075161 7453512 13282967 11715618 13449299 11833358 X 39162 -1217080 -389431 X X 0 1 X 1 0 X 2734319 1572297 1231107 1326912 1233080 8097715 2734319 1572297 1231107 1326912 1233080 8097715 1956055 6141660 184535 197440 200743 114001 121708 818427 16271 14600 11045 18611 266838 327365 9243507 38145 0.66440 0.63080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 7943758 -1219275 6724483 6159635 1784123 7943758 6666589 -506954 6159635 6526258 140331 6666589 5345710 1180548 6526258 0.97000 0.03000 0 0 79897 75063 4834 4834 895274 C SECURITIES AND OTHER INVESTMENTS 7440903 F 8336177 DUE TO LAYDON PARK 7652 7652 X 120341 -1217080 -389431 -1606511 1726852 16272 68716 84988 1811840 1687690 0 1687690 16272 68716 84988 1772678 PART X, LINE 2: FASB ASC 740, ACCOUNTING FOR INCOME TAXES, REQUIRES THE ORGANIZATION TO RECOGNIZE OR DISCLOSE ANY TAX POSITIONS THAT WOULD RESULT IN UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION HAS NO POSITIONS THAT WOULD REQUIRE DISCLOSURE OR RECOGNITION UNDER THE TOPIC. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTIVITY FROM VANCE 1530 JV, LLC -389,431. PART XI, LINE 4B - OTHER ADJUSTMENTS: INCOME TAX EXPENSE 68,716. PART XII, LINE 4B - OTHER ADJUSTMENTS: INCOME TAX EXPENSE 68,716. 1 LOAN 29 166500 BOOK GRANTS 319 731136 BOOK FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS ELECTRONICALLY DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED BY A REVIEW AT THE ANNUAL MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 COMPARISON DATA OBTAINED ON GUIDESTAR, REVIEWED BY EXECUTIVE COMMITTEE AND APPROVED BY THE ENTIRE BOARD. FORM 990, PART VI, SECTION C, LINE 18 FORM 990 IS MADE AVAILABLE ON GUIDESTAR, THE ORGANIZATION'S OWN WEBSITE AND UPON REQUEST. FORM 990-T AND FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE POSTED ON ITS OWN WEBSITE AND FURTHER MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ACTIVITY FROM VANCE 1530 JV, LLC -389,431. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT REVIEWS AND APPROVES THE ANNUAL AUDITED FINANCIAL STATEMENTS AND FORM 990 INFORMATIONAL RETURNS, AS WELL AS OVERSEES SELECTION OF THE ORGANIZATION'S EXTERNAL AUDITORS. FORM 990 AMENDMENTS THE FINANCIAL STATEMENTS WERE UPDATED AFTER THE FORM 990 WAS SUBMITTED. THE FORM 990 IS AMENDED TO REFLECT THE CHANGES FROM THE FINANCIAL STATEMENTS. FORM 990, PAGE 1, PART I, LINES 17, LINE 18 AND LINE 19 LINES 17 AND 18 ARE INCREASED BY $2,272, WHILE LINE 19 IS DECREASED BY $2,272. FORM 990, PAGE 1, PART I, LINES 21 AND 22. LINE 21 IS INCREASED BY $2,272, WHILE LINE 22 IS DECREASED BY $2,272. FORM 990, PAGE 2, PART III, LINE 4B EXPENSE IS DECREASED BY $16,272. FORM 990, PAGE 10, PART IX, LINE 11F, INVESTMENT MANAGEMENT FEES $16,272 ARE RECLASSED FROM PROGRAM SERVICE EXPENSE TO MANAGEMENT AND GENERAL EXPENSE. FORM 990, PAGE 10, PART IX, LINE 24A, UBIT EXPENSE INCREASED BY $2,272. FORM 990, PAGE 10, PART IX, LINE 25, TOTAL PROGRAM SERVICE EXPENSES ARE DECREASED BY $16,272 AND TOTAL MANAGEMENT AND GENERAL EXPENSES ARE INCREASED BY $18,544. FORM 990, PAGE 11, PART X, LINES 1 (B), 2(B) AND 12(B) THIS PART IS AMENDED TO TO RECLASSIFY CASH AND INVESTMENTS ON THE BALANCE SHEET. LINE 1 (B) IS INCREASED BY $43,112, LINE 2 (B) IS DECREASED BY $13,828 AND LINE 12 (B) IS DECREASED BY $29,284. FORM 990, PAGE 11, PART X, LINES 17 (B), 18 (B) AND LINE 25(B) LINE 17(B) IS INCREASED BY $2,272, LINE 18(B)IS INCREASED BY $2,000 AND LINE 25(B) IS DECREASED BY $2,000. FORM 990, PAGE 11, PART X, LINES 27(B) AND 28(B) LINE 27(B) IS INCREASED BY $720,089 AND LINE 28(B) IS DECREASED BY $722,361. FORM 990, PAGE 12, PART XI, LINES 2, 3 AND 10 LINE 2 IS INCREASED BY $2,272, LINE 3 IS DECREASED BY $2,272 AND LINE 10 IS DECREASED BY $2,272. FORM 990, SCHEDULE B, PART I THIS PART IS AMENDED TO REMOVE A CONTRIBUTION BY DAVID AND HOPE ROTHSCHILD OF $66,000. IT WAS DETERMINED THAT THE AMOUNT WAS NOT A CONTRIBUTION, BUT A RELEASE FROM RESTRICTION OF A PRIOR YEAR FAIR VALUE ADJUSTMENT. FORM 990, SCHEDULE D, PAGE 2, PART V, LINE 1B (A) THIS PART IS AMENDED TO CORRECT THE AMOUNT OF CURRENT YEAR CONTRIBUTIONS. THE CORRECT AMOUNT IS -$1,219,275 INSTEAD OF -$491,299 AS REPORTED ON THE ORIGINAL RETURN. FORM 990, SCHEDULE D, PAGE 2, PART V, LINES 2B AND 2C LINE 2B PERMANENT ENDOWMENT PERCENTAGE IS CHANGED TO 97% AND LINE 2C TERM ENDOWMENT PERCENTAGE IS CHANGED TO 3%. FORM 990, SCHEDULE D, PAGE 3, PART VII, LINES 3B THE LINE OF SECURITIES AND OTHER INVESTMENTS IS AMENDED TO DECREASE $29,284. FORM 990, SCHEDULE D, PAGE 3, PART X LINE 1(2) LOANS PAYABLE OF $2,000 IS DELETED. FORM 990, SCHEDULE D, PAGE 4, PART XI, LINES 1 AND 4B AND PART XII, LINES 4B AND 5 THESE LINES ARE AMENDED TO REFLECT THE CHANGE IN UBIT EXPENSE. LINE 1 IS DECREASED BY $2,272. BOTH LINES 4B OF PART XI AND XII ARE INCREASED BY $2,272. THE EXPLANATION OF THESE TWO LINES ARE UPDATED IN THE SUPPLEMENTAL SECTION ACCORDINGLY. LINE 5 OF PART XII IS INCREASED BY $2,272. FORM 990, SCHEDULE I, PART III THIS PART IS AMENDED TO CORRECT THE AMOUNT OF CASH GRANTS OF LOAN. THE CORRECT AMOUNT IS $166,500 INSTEAD OF $151,000 REPORTED ON THE ORIGINAL RETURN. FORM 990, SCHEDULE R, PART IV, CLOUMNS F AND G. THE SHARE OF TOTAL INCOME IS DECREASED BY $1 TO $59,545. THE AMOUNT UNDER SHARE OF END-OF-YEAR ASSETS IS ADJUSTED TO $953,982. LAYDON PARK INC 6 PARK CENTER COURT SUITE 211 OWINGS MILLS MD 21117 520787708 RENTAL REAL ESTATE MD THE CENTRAL SCHOLARSHIP BUREAU INC C 59545 953982 0.70000 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 LAYDON PARK INC F 56704 DIVIDENDS RECEIVED