THE CHILDRENS SCHOLARSHIP FUND: Form 990, tax year 2019

View the entire original 990 at ProPublica ↗

Organization
THE CHILDRENS SCHOLARSHIP FUND (EIN 13-4002189)
Tax period
2019-09-01 to 2020-08-31
Filed
2020-12-08
IRS object ID
202043459349300104
Schema version
2019v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2020-12-08T14:57:16-07:00ReturnTs
Tax Period End2020-08-31TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2019-09-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN134002189EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE CHILDRENS SCHOLARSHIP FUNDBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlCHILBusinessNameControlTxt
Phone2125157100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line18 West 38th St 9th FloorAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonThomas FinnertyPersonNm
Person TitleCFOPersonTitleTxt
Phone2125157100PhoneNum
Signature2020-12-09SignatureDt
FieldValueIRS element (for citing)
Tax2019TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDarla RomfoPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line18 West 38th Street 9th FloorAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$28,658,490GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.scholarshipfund.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1998FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionThe Children's Scholarship Fund (CSF) provides children of low-income families with tuition assistance in grades K-8, and supports expanding educational opportunities for all children.ActivityOrMissionDesc
Voting Members Governing Body13VotingMembersGoverningBodyCnt
Voting Members Independent12VotingMembersIndependentCnt
Total Employee16TotalEmployeeCnt
Total Volunteers50TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$25,694,338PYContributionsGrantsAmt
CY Contributions Grants$27,257,605CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$473,860PYInvestmentIncomeAmt
CY Investment Income$269,867CYInvestmentIncomeAmt
PY Other Revenue-$24,206PYOtherRevenueAmt
CY Other Revenue$65,410CYOtherRevenueAmt
PY Total Revenue$26,143,992PYTotalRevenueAmt
CY Total Revenue$27,592,882CYTotalRevenueAmt
PY Grants And Similar Paid$21,782,534PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$22,172,666CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,685,262PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,790,771CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$33,555PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$938,872CYTotalFundraisingExpenseAmt
PY Other Expenses$670,941PYOtherExpensesAmt
CY Other Expenses$546,140CYOtherExpensesAmt
PY Total Expenses$24,172,292PYTotalExpensesAmt
CY Total Expenses$24,509,577CYTotalExpensesAmt
PY Revenues Less Expenses$1,971,700PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$3,083,305CYRevenuesLessExpensesAmt
Total Assets BOY$22,171,237TotalAssetsBOYAmt
Total Assets EOY$25,476,794TotalAssetsEOYAmt
Total Liabilities BOY$135,606TotalLiabilitiesBOYAmt
Total Liabilities EOY$357,858TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$22,035,631NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$25,118,936NetAssetsOrFundBalancesEOYAmt
MissionThe Children's Scholarship Fund (CSF) provides children of low-income families with tuition assistance in grades K-8, and supports expanding educational opportunities for all children.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$22,172,666ExpenseAmt
Grant$22,172,666GrantAmt
Revenue$0RevenueAmt
DescIn fiscal year 2020 nearly 26,000 children across the US benefited from scholarships awarded by CSF and its partner programs. These children, all of whom are from low-income families, are receiving the education desired by their families due to the generosity of our donors and the efforts of scholarship programs in 25 communities. Since its inception in 1998, nearly 180,000 children from low-income families have benefited from attending the private school of their choice with more than $837 million in tuition assistance from CSF and its partner programs.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$928,908ExpenseAmt
Grant$0GrantAmt
Revenue$0RevenueAmt
DescProgram management, outreach and support: CSF's program staff works with parents and schools to ensure the integrity and efficient management of the program. The program staff verifies eligibility and student attendance, disburses the tuition assistance payments to schools and annually requalifies returning students. The Children's Scholarship Fund maintains partnerships with local scholarship programs in communities around the country. In addition to providing matching grants to these organizations, the Children's Scholarship Fund also trains local program staff and has developed and maintains specialized software that is used to manage scholarship awards.Desc
FieldValueIRS element (for citing)
Total Other Prog Srvc Expense$0TotalOtherProgSrvcExpenseAmt
Total Other Prog Srvc Grant$0TotalOtherProgSrvcGrantAmt
Total Other Prog Srvc Revenue$0TotalOtherProgSrvcRevenueAmt
Total Program Service Expenses$23,101,574TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying ActivitiesYes (1)LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising ActivitiesYes (1)FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash ContriYes (1)DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee16EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo ContributionsYes (1)QuidProQuoContributionsInd
Quid Pro Quo Contri DisclYes (1)QuidProQuoContriDisclInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Form8899 Filedind0Form8899Filedind
Form1098 C Filed0Form1098CFiledInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members13GoverningBodyVotingMembersCnt
Independent Voting Member12IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldALStatesWhereCopyOfReturnIsFldCd
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Own WebsiteYes (X)OwnWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonThomas J FinnertyPersonNm
Phone2125157100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line18 West 38th StAddressLine1Txt
Address Line29th FloorAddressLine2Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10018ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtKey EmployeeKeyEmployeeInd
Darla M Romfo
President & COO40Yes (X)Yes (X)$327,322$0$26,786
Thomas J Finnerty
SVP & CFO40Yes (X)$300,239$0$36,988
Michele Mitola
VP Strategic Planning & Development40$172,544$0$12,867Yes (X)
Elizabeth Toomey
Corporate Secretary40Yes (X)$137,302$0$17,895
Mike McCurry
Chair2Yes (X)Yes (X)$0$0$0
Matthew Bonanno
Board Member1Yes (X)$0$0$0
Jeffrey Chang
Board Member1Yes (X)$0$0$0
Stephen Fraidin
Board Member1Yes (X)$0$0$0
Michael Gerstner
Board Member1Yes (X)$0$0$0
Christopher Halpin
Board Member1Yes (X)$0$0$0
David E Johnson
Board Member1Yes (X)$0$0$0
Margot McGinness
Board Member1Yes (X)$0$0$0
Kevin Short
Board Member1Yes (X)$0$0$0
Remy Trafelet
Board Member1Yes (X)$0$0$0
Heather Vrattos
Board Member1Yes (X)$0$0$0
Juan Williams
Board Member1Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$937,407TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$94,536TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K4IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Federated Campaigns$5,362FederatedCampaignsAmt
Membership Dues$0MembershipDuesAmt
Fundraising$40,155FundraisingAmt
Related Organizations$0RelatedOrganizationsAmt
Government Grants$0GovernmentGrantsAmt
All Other Contributions$27,212,088AllOtherContributionsAmt
Noncash Contributions$1,062,794NoncashContributionsAmt
Total Contributions$27,257,605TotalContributionsAmt
Total Program Service Revenue$0TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$250,725TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$250,725ExclusionAmt

Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Royalties Revenue RoyaltiesRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$0RealAmt
Personal$0PersonalAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$1,081,936SecuritiesAmt
Other$0OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$1,062,794SecuritiesAmt
Other$0OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$19,142SecuritiesAmt
Other$0OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$19,142TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$19,142ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$1,890FundraisingGrossIncomeAmt
Contri Rpt Fundraising Event$40,155ContriRptFundraisingEventAmt
Fundraising Direct Expenses$2,814FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column-$924TotalRevenueColumnAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion-$924ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescEmployee Retention creditDesc
Business900099BusinessCd
Total Revenue Column$66,209TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$66,209ExclusionAmt

Miscellaneous Revenue MiscellaneousRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$125TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$125ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$66,334OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$27,592,882TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$335,277ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$3,615,858TotalAmt
Program Services$3,615,858ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$18,556,808TotalAmt
Program Services$18,556,808ProgramServicesAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt

Benefits To Members BenefitsToMembersGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$1,039,334TotalAmt
Program Services$269,980ProgramServicesAmt
Management And General$304,077ManagementAndGeneralAmt
Fundraising$465,277FundraisingAmt

Comp Disqual Persons CompDisqualPersonsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$568,135TotalAmt
Program Services$366,881ProgramServicesAmt
Management And General$19,403ManagementAndGeneralAmt
Fundraising$181,851FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$24,661TotalAmt
Program Services$18,207ProgramServicesAmt
Management And General$942ManagementAndGeneralAmt
Fundraising$5,512FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$66,238TotalAmt
Program Services$42,771ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$23,467FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$92,403TotalAmt
Program Services$39,632ProgramServicesAmt
Management And General$14,171ManagementAndGeneralAmt
Fundraising$38,600FundraisingAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$2,336TotalAmt
Program Services$0ProgramServicesAmt
Management And General$2,336ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$69,662TotalAmt
Program Services$0ProgramServicesAmt
Management And General$69,662ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total$0TotalAmt
Fundraising$0FundraisingAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$39,903TotalAmt
Program Services$12,753ProgramServicesAmt
Management And General$15,115ManagementAndGeneralAmt
Fundraising$12,035FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$28,462TotalAmt
Program Services$12,259ProgramServicesAmt
Management And General$3,054ManagementAndGeneralAmt
Fundraising$13,149FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$44,503TotalAmt
Program Services$27,402ProgramServicesAmt
Management And General$947ManagementAndGeneralAmt
Fundraising$16,154FundraisingAmt

Royalties RoyaltiesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$224,781TotalAmt
Program Services$105,256ProgramServicesAmt
Management And General$20,200ManagementAndGeneralAmt
Fundraising$99,325FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$22,782TotalAmt
Program Services$3,190ProgramServicesAmt
Management And General$11,167ManagementAndGeneralAmt
Fundraising$8,425FundraisingAmt

Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
Program Services$0ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$17,829TotalAmt
Program Services$11,155ProgramServicesAmt
Management And General$1,128ManagementAndGeneralAmt
Fundraising$5,546FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$31,592TotalAmt
Program Services$14,793ProgramServicesAmt
Management And General$2,839ManagementAndGeneralAmt
Fundraising$13,960FundraisingAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
Donor communication costs$31,652$0$0$31,652
Indirect event costs$18,394$4,023$0$14,371

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$14,244TotalAmt
Program Services$606ProgramServicesAmt
Management And General$4,090ManagementAndGeneralAmt
Fundraising$9,548FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$24,509,577TotalAmt
Program Services$23,101,574ProgramServicesAmt
Management And General$469,131ManagementAndGeneralAmt
Fundraising$938,872FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$354,562BOYAmt
EOY$734,905EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$21,437,800BOYAmt
EOY$24,612,962EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$283,784BOYAmt
EOY$38,860EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$24,904BOYAmt
EOY$19,766EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$133,575LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$102,403LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$31,058BOYAmt
EOY$31,172EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$39,129BOYAmt
EOY$39,129EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$22,171,237BOYAmt
EOY$25,476,794EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$89,916BOYAmt
EOY$96,753EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$45,690BOYAmt
EOY$261,105EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$135,606BOYAmt
EOY$357,858EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$4,285,331BOYAmt
EOY$5,758,378EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$17,750,300BOYAmt
EOY$19,360,558EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$22,035,631BOYAmt
EOY$25,118,936EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$22,171,237BOYAmt
EOY$25,476,794EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$3,083,305ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$0NetUnrlzdGainsLossesInvstAmt
Donated Services And Use Fclts$0DonatedServicesAndUseFcltsAmt
Investment Expense$0InvestmentExpenseAmt
Prior Period Adjustments$0PriorPeriodAdjustmentsAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$24,428,028CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,846,212CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$28,487,415CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$25,694,338CurrentTaxYearMinus1YearAmt
Current Tax Year$27,257,605CurrentTaxYearAmt
Total$129,713,598TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$24,428,028CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$23,846,212CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$28,487,415CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$25,694,338CurrentTaxYearMinus1YearAmt
Current Tax Year$27,257,605CurrentTaxYearAmt
Total$129,713,598TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$46,491,531SubstantialContributorsTotAmt
Public Support Total170$83,222,067PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$24,088CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$88,522CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$273,608CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$474,097CurrentTaxYearMinus1YearAmt
Current Tax Year$250,725CurrentTaxYearAmt
Total$1,111,040TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$12,375CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$12,173CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$28,668CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$8,159CurrentTaxYearMinus1YearAmt
Current Tax Year$68,224CurrentTaxYearAmt
Total$129,599TotalAmt
FieldValueIRS element (for citing)
Total Support$130,954,237TotalSupportAmt
Public Support CY1700.63550PublicSupportCY170Pct
Public Support PY1700.65563PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule A, Part II, Line 10FormAndLineReferenceDesc
ExplanationIncludes Employee Retention Credit and gross income from fundraising events.ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

Total Grassroots Lobbying TotalGrassrootsLobbyingGrp

FieldValueIRS element (for citing)
Filing Organizations Total$370FilingOrganizationsTotalAmt

Total Direct Lobbying TotalDirectLobbyingGrp

FieldValueIRS element (for citing)
Filing Organizations Total$4,212FilingOrganizationsTotalAmt

Total Lobbying Expend TotalLobbyingExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$4,582FilingOrganizationsTotalAmt

Other Exempt Purpose Expend OtherExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$24,504,995FilingOrganizationsTotalAmt

Total Exempt Purpose Expend TotalExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$24,509,577FilingOrganizationsTotalAmt

Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Filing Organizations Total$1,000,000FilingOrganizationsTotalAmt

Grassroots Nontaxable GrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Filing Organizations Total$250,000FilingOrganizationsTotalAmt

Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Current Year Minus3$1,000,000CurrentYearMinus3Amt
Current Year Minus2$1,000,000CurrentYearMinus2Amt
Current Year Minus1$1,000,000CurrentYearMinus1Amt
Current Year$1,000,000CurrentYearAmt
Total$4,000,000TotalAmt
FieldValueIRS element (for citing)
Lobbying Ceiling$6,000,000LobbyingCeilingAmt

Avg Total Lobbying Expend AvgTotalLobbyingExpendGrp

FieldValueIRS element (for citing)
Current Year Minus3$3,127CurrentYearMinus3Amt
Current Year Minus2$6,681CurrentYearMinus2Amt
Current Year Minus1$13,510CurrentYearMinus1Amt
Current Year$4,582CurrentYearAmt
Total$27,900TotalAmt

Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Current Year Minus3$250,000CurrentYearMinus3Amt
Current Year Minus2$250,000CurrentYearMinus2Amt
Current Year Minus1$250,000CurrentYearMinus1Amt
Current Year$250,000CurrentYearAmt
Total$1,000,000TotalAmt
FieldValueIRS element (for citing)
Grassroots Ceiling$1,500,000GrassrootsCeilingAmt

Avg Grassroots Lobbying Expend AvgGrassrootsLobbyingExpendGrp

FieldValueIRS element (for citing)
Current Year Minus3$0CurrentYearMinus3Amt
Current Year Minus2$0CurrentYearMinus2Amt
Current Year Minus1$1,436CurrentYearMinus1Amt
Current Year$370CurrentYearAmt
Total$1,806TotalAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$0InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$0OtherCostOrOtherBasisAmt
Book Value$0BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$0InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$0OtherCostOrOtherBasisAmt
Depreciation$0DepreciationAmt
Book Value$0BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$0InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$11,975OtherCostOrOtherBasisAmt
Depreciation$3,518DepreciationAmt
Book Value$8,457BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$0InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$116,300OtherCostOrOtherBasisAmt
Depreciation$93,585DepreciationAmt
Book Value$22,715BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Investment Cost Or Other Basis$0InvestmentCostOrOtherBasisAmt
Other Cost Or Other Basis$5,300OtherCostOrOtherBasisAmt
Depreciation$5,300DepreciationAmt
Book Value$0BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$31,172TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescRefundable AdvancesDesc
Amt$261,105Amt
FieldValueIRS element (for citing)
Total Liability$261,105TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$27,593,806TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst$0NetUnrealizedGainsInvstAmt
Donated Services And Use Fclts$0DonatedServicesAndUseFcltsAmt
Recoveries Prior Year Grants$0RecoveriesPriorYearGrantsAmt
Other Revenue$924OtherRevenueAmt
Revenue Not Reported$924RevenueNotReportedAmt
Revenue Subtotal$27,592,882RevenueSubtotalAmt
Investment Expenses Not Incld$0InvestmentExpensesNotIncldAmt
Other Revenues Not Included$0OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$27,592,882TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$24,510,501TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts$0DonatedServicesUseFcltsAmt
Prior Year Adjustments$0PriorYearAdjustmentsAmt
Losses Reported$0LossesReportedAmt
Other Expenses Included$924OtherExpensesIncludedAmt
Expenses Not Reported$924ExpensesNotReportedAmt
Expenses Subtotal$24,509,577ExpensesSubtotalAmt
Investment Expenses Not Incld2$0InvestmentExpensesNotIncld2Amt
Other Expenses Not Included$0OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$24,509,577TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Schedule D, Part X, Line 2The Fund follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The Fund is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The Fund has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which there was nexus; and to identify and evaluate other matters that may be considered tax positions. The Fund has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements.
Schedule D, Part XI, Line 2dNet loss from fundraising events
Schedule D, Part XII, Line 2dNet loss from fundraising events

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1NYC MarathonEvent1Nm
Gross Receipts Event1$17,907GrossReceiptsEvent1Amt
Charitable Contri Event1$0CharitableContriEvent1Amt
Gross Revenue Event1$17,907GrossRevenueEvent1Amt
Cash Prizes Event1$0CashPrizesEvent1Amt
Non Cash Prizes Event1$0NonCashPrizesEvent1Amt
Rent Facility Costs Event1$0RentFacilityCostsEvent1Amt
Food And Beverage Event1$0FoodAndBeverageEvent1Amt
Entertainment Event1$0EntertainmentEvent1Amt
Other Direct Expenses Event1$0OtherDirectExpensesEvent1Amt
Food And Beverage Other Events$0FoodAndBeverageOtherEventsAmt
Entertainment Other Events$0EntertainmentOtherEventsAmt
Gross Receipts Total$17,907GrossReceiptsTotalAmt
Charitable Contributions Tot$0CharitableContributionsTotAmt
Gross Revenue Total Events$17,907GrossRevenueTotalEventsAmt
Cash Prizes Total Events$0CashPrizesTotalEventsAmt
Non Cash Prizes Total Events$0NonCashPrizesTotalEventsAmt
Rent Fclty Costs Total Events$0RentFcltyCostsTotalEventsAmt
Food And Beverage Total Events$0FoodAndBeverageTotalEventsAmt
Entertainment Total Events$0EntertainmentTotalEventsAmt
Oth Direct Expnss Total Events$0OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$0DirectExpenseSummaryEventsAmt
Net Income Summary$17,907NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable (17 entries)

Address Line1USAddress/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdRecipient EINRecipientEINIRC SectionIRCSectionDescCash GrantCashGrantAmtPurpose Of GrantPurposeOfGrantTxt
Children's Scholarship Fund Philadelphia
100 South Broad StreetSuite 1200PhiladelphiaPA19110233078729501(c)(3)$543,000To provide partial scholarship awards to children from low-income families
Children's Scholarship Fund Baltimore
1000 Saint Paul StreetBaltimoreMD21202131480933501(c)(3)$100,000To provide partial scholarship awards to children from low-income families
The BISON Children's Scholarship Fund Inc
284 Delaware AvenueBuffaloNY14202161477288501(c)(3)$350,000To provide partial scholarship awards to children from low-income families
Catholic Partnership Schools
808 Market StreetCamdenNJ08102273236916501(c)(3)$159,285To provide partial scholarship awards to children from low-income families
CEO Foundation of Connecticut
PO Box 1356MadisonCT06443061494714501(c)(3)$50,000To provide partial scholarship awards to children from low-income families
Children's Scholarship Fund of Omaha
7101 Mercy RoadSuite 150OmahaNE68106470822724501(c)(3)$375,120To provide partial scholarship awards to children from low-income families
The Basic Fund
1301 Clay StreetSuite 70450OaklandCA94612943290699501(c)(3)$800,000To provide partial scholarship awards to children from low-income families
Scholarship Fund for Inner City Children
171 Clifton AvenueNewarkNJ07104510546401501(c)(3)$267,066To provide partial scholarship awards to children from low-income families
Northwest Ohio Scholarship Fund Inc
5800 Monroe StreetSuite F5SylvaniaOH43560311639134501(c)(3)$90,711To provide partial scholarship awards to children from low-income families
Memphis Oppprtunity Scholarship Trust Inc
1000 Ridgeway Loop RoadSuite 205MemphisTN38120621723618501(c)(3)$112,215To provide partial scholarship awards to children from low-income families
Today and Tomorrow Educational Foundation
20 Archbishop May DriveSt LouisMO63119431633565501(c)(3)$268,375To provide partial scholarship awards to children from low-income families
Tomorrow's Hope Foundation
50 Charles Lindbergh BlvdSuite 500UniondaleNY11553203514578501(c)(3)$50,000To provide partial scholarship awards to children from low-income families
Brighter Future Fund a program of the Archdiocese of Detroit
12 State StreetDetroitMI48226381359274501(c)(3)$20,592To provide partial scholarship awards to children from low-income families
Children's Scholarship Fund Portland a program of Cascade Policy Institute
4850 SW Scholls Ferry RoadSuite 103PortlandOR97225931045925501(c)(3)$10,000To provide partial scholarship awards to children from low-income families
Alliance for Choice in Education
1201 East Colfax AvenueSuite 302DenverCO80218841531066501(c)(3)$299,494To provide partial scholarship awards to children from low-income families
Seeds of Hope of Northern Colorado
1300 South Steele StreetDenverCO80210821844617501(c)(3)$80,000To provide partial scholarship awards to children from low-income families
Tri-County Scholarship Fund
4 Century DriveParsippanyNJ07054222354475501(c)(3)$40,000To provide partial scholarship awards to children from low-income families
FieldValueIRS element (for citing)
Total501c3 Org17Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypePartial scholarship awards to children from low-income familiesGrantTypeTxt
Recipient7981RecipientCnt
Cash Grant$18,556,808CashGrantAmt
Non Cash Assistance$0NonCashAssistanceAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule I, Part I, Line 2FormAndLineReferenceDesc
ExplanationCSF makes matching grants to other scholarship organizations so they may also provide partial scholarship awards to children from low-income families. In fiscal year 2020, CSF provided nearly $3.6 million in matching grants to 17 other scholarship organizations. With CSF's matching grants, these scholarship organizations provided $30.4 million in scholarships to nearly 18,000 children. CSF has grant agreements with each of these organizations which require that 1) the scholarships are awarded solely on the basis of financial need, 2) are intended for low-income families, 3) income eligibility must be verified annually, 4) the maximum award will not exceed 75% of tuition less other financial aid and 5) that continued enrollment will be verified at least twice each academic year. Prior to disbursing grants to these organizations CSF verifies that the required matching contributions have been received. In addition, during fiscal year 2020 CSF disbursed nearly $18.6 million in direct scholarship assistance on behalf of nearly 8,000 children from low-income families. The criteria for eligibility are residency and income, and students must be entering grades K-8 when they begin in the program. Families are asked to provide proof of income eligibility, and indicate enrollment at their chosen private school. Scholarship funds are disbursed to the schools twice a year, in November (50%) and March (50%). Parents and/or principals must verify that the student's good standing at the school, academically, financially, and otherwise, and certifying that the student is maintaining at least a 90% attendance rate. Although the scholarship payments are made to schools, they are awarded to parents. If a family is not satisfied with its chosen school, they may take the scholarship to another school. The program staff at CSF works daily with parents and schools to ensure program integrity, answer questions regarding scholarship amounts, parental contributions, enrollments, transfers, siblings, eligibility, participating schools, and other issues that regularly surface. CSF uses a customized database to track all applicants, participants, schools, scholarships, income eligibility, etc., and is able to generate accurate and up-to-date data on every aspect of the program.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Independent ConsultantYes (X)IndependentConsultantInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
Darla M Romfo
President & COO$325,000$0$0$0$2,322$0$14,000$0$12,786$0$354,108$0$0
Thomas J Finnerty
SVP & CFO$266,996$0$0$0$33,243$0$13,500$0$23,488$0$337,227$0$0$0
Michele Mitola
VP Strategic Planning & Development$171,037$0$0$0$1,507$0$8,521$0$4,346$0$185,411$0$0$0
Elizabeth Toomey
Corporate Secretary$136,942$0$0$0$360$0$6,671$0$11,224$0$155,197$0$0$0

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule J, Part IIFormAndLineReferenceDesc
ExplanationOther reportable compensation for Ms. Romfo includes $2,322 in taxable group term life insurance premiums. Other reportable compensation for Mr. Finnerty includes $26,415 reimbursement for the cost of benefits provided by a prior employer but not provided by CSF and $6,828 in taxable group term life insurance premiums. Other reportable compensation for Ms. Mitola includes $1,507 in taxable group term life insurance premiums. Other reportable compensation for Ms. Toomey includes $360 in taxable group term life insurance premiums.ExplanationTxt

Schedule M IRS990ScheduleM

Securities Publicly Traded SecuritiesPubliclyTradedGrp

FieldValueIRS element (for citing)
Non Cash CheckboxYes (X)NonCashCheckboxInd
Contribution3ContributionCnt
Noncash Contributions Rpt F990$1,062,794NoncashContributionsRptF990Amt
Method Of Determining Revenuesmarket quotationsMethodOfDeterminingRevenuesTxt
FieldValueIRS element (for citing)
Form8283 Received0Form8283ReceivedCnt
Any Property That Must Be Held0AnyPropertyThatMustBeHeldInd
Review Process Unusual NC Gifts0ReviewProcessUnusualNCGiftsInd
Third Parties Used0ThirdPartiesUsedInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Section B, Line 11bThe Chief Financial Officer (CFO) prepared IRS Form 990 and all state regulatory filings. The CFO consults with outside professionals, as necessary, to properly complete these filings. Upon completion, the 990 is reviewed by the President and the organization's independent accounting firm. Following these reviews, a copy of the 990 is sent to each member of the Audit Committee of the Board of Directors. A meeting of the Audit Committee was held on December 8, 2020, at which time the committee reviewed and discussed Form 990 for the year ended August 31, 2020. The CFO, President & representatives from Grant Thornton were present at the meeting to respond to questions from committee members. A copy of the completed 990 was sent electronically to all board members prior to filing with the Internal Revenue Service.
Form 990, Part VI, Section B, Line 12cThe Children's Scholarship Fund's conflict of interest policy prohibits any director, officer or key employee from using his or her position, or the knowledge gained there from, in such a manner that a conflict arises between the interest of the Children's Scholarship Fund or any of its affiliates and his or her personal interests. To implement this policy, directors, officers and key employees are required to make true and complete disclosure of the material facts relating to any personal interest he or she may have in any transaction before the Board or any of its Committees, prior to any vote on the transaction. Should a potential conflict of interest arise, the individual is required to recuse him or herself from discussions, deliberations or votes concerning the transaction. Annually each Director, officer and key employee is requested to complete an Independence and Conflict of Interest questionnaire.
Form 990, Part VI, Section B, Line 15The compensation of the President, the Chief Financial Officer and the Vice President of Strategic Planning & Development are reviewed and approved by the Board of Directors. All Directors, except for the President, serve without compensation. In the spring of 2016 the organization engaged an independent professional services firm to compare the compensation of these individuals to their counterparts in not-for-profit organizations similar to CSF. Upon completion of the study, the Board met with the independent compensation consultant to review the firm's written report and to discuss if any adjustment to the compensation was warranted. None of the individuals being reviewed were present for those discussions. After due deliberation the Board of Directors of the Children's Scholarship Fund approved the present compensation arrangements for the President, the Chief Financial Officer and the Vice President of Strategic Planning & Development.
Form 990, Part VI, Section C, Line 19CSF's Code of Ethics and Privacy Policy are posted on our website (www.scholarshipfund.org). Our annual report, audited financial statements, and Form 990 may also be downloaded from this site. In addition, there is a link to our Form 990 that is posted on www.guidestar.org. Interested parties may also obtain copies of Forms 990 and 1023 by contacting us directly.

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