2015-09-21T15:52:57-05:00 2014-12-31 954091474 ROSSI LLP 400 OCEANGATE SUITE 1000 LONG BEACH CA 90802 990 2014-01-01 202820261 SOUTH CENTRAL SCHOLARS FOUNDATION SOUT 3108331670 29000 SOUTH WESTERN AVE SUITE 207 RANCHO PALOS VERDES CA 90275 JAMES T LONDON MD EXECUTIVE DIRECTOR 3108331670 2015-08-23 1 LEWIS FINKELSTEIN CPA P00132333 5624953325 2014 2016-02-25 16:41:14Z JOEY SHANAHAN 29000 SOUTH WESTERN AVE SUITE 207 RANCHO PALOS VERDES CA 90275 1863732 0 X WWW.SOUTHCENTRALSCHOLARS.ORG X 2005 CA SEE PAGE II, PART III, LINE I 23 23 9 200 0 0 1436037 1757699 0 0 20673 27316 0 0 1456710 1785015 345858 656892 0 0 309302 381275 0 0 33114 383026 562238 1038186 1600405 418524 184610 1482915 1654203 13131 20700 1469784 1633503 X THE MISSION OF THE SOUTH CENTRAL SCHOLARS FOUNDATION (SCS) IS TO ASSIST HIGHLY MOTIVATED, TALENTED HIGH SCHOOL STUDENTS FROM DISADVANTAGED COMMUNITIES OF SOUTH CENTRAL LOS ANGELES COUNTY ACHIEVE ACADEMIC AND PERSONAL SUCCESS IN COLLEGE AND BEYOND. THROUGH SCHOLARSHIPS, JOBS, INTERNSHIPS, AND MENTORSHIP, THE STUDENTS OF SOUTH CENTRAL SCHOLARS DEVELOP THEIR FULL POTENTIAL AND ARE BECOMING THE FUTURE LEADERS, BOTH WITHIN SCS AND IN THE BROADER COMMUNITY. OUR CURRENT STUDENTS ARE BECOMING MEMBERS OF OUR ENLARGING COMMUNITY OF VOLUNTEERS AND ARE SERVING AS A RESOURCE TO FUTURE STUDENTS FROM SOUTH CENTRAL LOS ANGELES. 0 0 1377625 656892 THE ORGANIZATION PROVIDES COLLEGE ACCESS AND SUCCESS PROGRAMMINGTO DISADVANTAGED STUDENTS FROM INNER CITY COMMUNITIES IN LOSANGELES. PROGRAMS INCLUDE COLLEGE OUTREACH, SCHOLARSHIPS,MENTORING, JOB AND INTERNSHIP PLACEMENT, AND PROFESSIONAL/ACADEMICDEVELOPMENTS WORKSHOPS AND SEMINARS.THE ORGANIZATION'S SCHOLARSHIPS ARE INTENDED TO CLOSE SHORTFALLSBETWEEN THE AMOUNT OF MONEY OFFERED IN THE FINANCIAL PACKAGE FROMA UNIVERSITY (GRANTS, LOANS, AND WORK STUDY) AND THE ACTUAL COSTOF A STUDENT'S COLLEGE EDUCATION. IN SOME CASES, THESE SHORTFALLSWOULD PREVENT STUDENTS FROM ATTENDING COLLEGE ALTOGETHER.SCHOLARSHIPS RANGE BETWEEN $1,000 TO $3,000 PER SCHOLAR, AND ARERENEWABLE FOR UP TO 6 YEARS. SCS HAS AN ADDITIONAL BUDGET FOR STIPENDS TO STUDENTS TO PARTICIPATE FOR THE FOLLOWING USES:AIRFARE AND TRAVEL EXPENSES,INTERNSHIP STIPENDS, STUDY ABROAD STIPENDS,AND GRADUATE SCHOOL PREPARATION CLASSES AND TEST FEES (MCAT, LSAT, GRE, ETC.). 1377625 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 34 0 1 9 1 0 0 0 0 0 1 1 0 0 X 23 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 1 0 CA X X JOEY SHANAHAN 3108331670 29000 S WESTERN AVENUE SUITE 207 RANCHO PALOS VERDES CA 90275 JAMES T LONDON MD CHAIRMAN 10.00 X X 0 0 0 PATRICIA LONDON SECRETARY 10.00 X X 0 0 0 ROBERT FUNARI BOARD MEMBER 2.00 X 0 0 0 BRIAN DEPERSIA BOARD MEMBER 2.00 X 0 0 0 JOAN HERMAN BOARD MEMBER 2.00 X 0 0 0 GAYLE HOLCOMB BOARD MEMBER 2.00 X 0 0 0 RAMSEY JAY JR BOARD MEMBER 2.00 X 0 0 0 SAMUEL GARRISON BOARD MEMBER 2.00 X 0 0 0 STUART LINER BOARD MEMBER 2.00 X 0 0 0 BRIAN MASSEY BOARD MEMBER 2.00 X 0 0 0 ZELDA HARRISON BOARD MEMBER 2.00 X 0 0 0 MASAI MINTERS BAORD MEMBER 2.00 X 0 0 0 CASSANDRA ROY BOARD MEMBER 2.00 X 0 0 0 ALEXANDER RUBALCAVA BOARD MEMBER 2.00 X 0 0 0 MICHAEL QUICK BOARD MEMBER 2.00 X 0 0 0 KARI VAN GUNDY BOARD MEMBER 2.00 X 0 0 0 PHYLLIS MONROE BOARD MEMBER 2.00 X 0 0 0 JASON REDNOUR BOARD MEMBER 2.00 X 0 0 0 ROB VICKERY BOARD MEMBER 2.00 X 0 0 0 JEFF WEISS BOARD MEMBER 2.00 X 0 0 0 WILLIAM O MCCLURE BOARD MEMBER 2.00 X 0 0 0 PAUL BLAVIN BOARD MEMBER 2.00 X 0 0 0 DOUG WOODRUFF BOARD MEMBER 2.00 X 0 0 0 ROBERT WINSTON PRESIDENT OF STUDENT SERVI 40.00 X 81525 0 0 JOEY SHANAHAN EXECUTIVE DIRECTOR 40.00 X 100000 0 7196 181525 0 7196 0 0 0 0 0 193404 1564295 1757699 14535 14535 25231 12450 12781 12781 12781 66267 193404 66267 0 1785015 0 0 27316 656892 656892 181525 125220 36305 20000 172696 150415 21281 1000 27054 20561 4599 1894 16792 16792 3980 1951 2029 41974 20987 14691 6296 37188 37188 41652 41652 4347 4347 669 669 30257 18150 10697 1410 STUDENT CONFERENCES 377417 377417 TELEPHONE 4848 3636 727 485 LICENSES & PERMITS 3114 3114 1600405 1377625 189666 33114 771368 1061633 20558 45729 162900 12500 5378 5381 10330 9517 1482 813 518265 525183 2964 2964 1482915 1654203 13131 20700 13131 20700 X 1069784 1433503 400000 200000 1469784 1633503 1482915 1654203 184610 -20891 0 X 0 1 X 1 0 X 795863 938668 1268075 1436037 1757699 6196342 795863 938668 1268075 1436037 1757699 6196342 2507685 3688657 13392 12744 14077 23712 14535 78460 6274802 0.58790 0.55910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10330 9517 813 813 X 1771743 -20891 7619 -13272 1785015 0 1785015 1608024 7619 7619 1600405 0 1600405 PART X, LINE 2: THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS ALSO EXEMPT FROM STATE OF CALIFORNIA FRANCHISE TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE, WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE ORGANIZATION DOES NOT BELIEVE THAT DURING THE YEARS ENDED DECEMBER 31, 2014 AND 2013 THAT IT HAD UNRELATED BUSINESS INCOME AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC 740, INCOME TAXES AND RELATED SUBSECTIONS. ACCORDINGLY, THE ORGANIZATION ACCOUNTS FOR UNCERTAIN TAX POSITIONS BY RECORDING A LIABILITY FOR UNRECOGNIZED TAX BENEFITS RESULTING FROM UNCERTAIN TAX POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, IN ITS TAX RETURNS. THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED BY THE APPROPRIATE TAXING AUTHORITIES. THE ORGANIZATION DOES NOT BELIEVE THAT ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND ACCORDINGLY, HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING FINANCIAL STATEMENTS. GALA 259671 193404 66267 66267 259671 193404 66267 66267 66267 0 1 TUITION EXPENSE SCHOLARSHIP PROGRAM 390 656892 FMV N/A PART I, LINE 2: SCHEDULE I, PART 1, LINE 2 SCHEDULE I, PART I, LINE 2 SCHOLARS SUBMIT THEIR FINANCIAL AID AWARD LETTERS AND ANY OTHER EXTERNAL SCHOLARSHIPS TO THE ORGANIZATION, WHICH THE ORGNIZATION USES TO CALCULATE STUDENTS FINANCIAL NEED. SCHOLARS SIGN A CONTRACT THAT TELLS THEM WHAT THEY CAN USE THEIR SCHOLARSHIP FOR. FORM 990, PART VI, SECTION A, LINE 2 JAMES AND PATRICIA LONDON ARE MARRIED AND ARE BOTH ON THE BOARD OF DIRECTORS. DAVID AND EVELYN HOU ARE MARRIED AND ARE BOTH ON THE BOARD OF DIRECTORS.S FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15 A THOROUGH REVIEW OF COMPARABLE SALARY INFORMATION (NONPROFIT SALARY SURVEYS, ONLINE DATA, INDEPENDENT CONSULTANT, EMPLOYMENT JOB BOARDS, ETC. ) IS MADE BY THE EXECUTIVE COMMITTEE PRIOR TO SETTING A COMPENSATION RANGE FOR EACH POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE.