Rochester Childrens Scholarship Fund Inc
- Assets
- $1.6m
- Revenue
- $99.0k
- Investments
- $1.4m
- Employees
- 1
- Location
- Rochester, NY
- Founding
- 08/1955
- Data as of
- 06/2021
- EIN
- 16-0783528
Organization Overview
Rochester Childrens Scholarship Fund Inc is located in Rochester, NY. The organization was established in 1955. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Childrens Scholarship Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Rochester Childrens Scholarship Fund Inc generated $99.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $91.1k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SCHOLARSHIPS FOR STUDENTS WITH GOOD SCHOLASTIC STANDING AND FAMILY FINANCIAL DIFFICULTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT ROCHESTER CITY SCHOOL DISTRICT STUDENTS BY PROVIDING STIPENDS TO STUDENTS IN GRADES 9-12 WHO ACADEMICALLY EXCEL AND SUFFER FINANCIAL HARDSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Testa Program Director | Officer | 20 | $23,000 |
Jonatha Caimano Treasurer | OfficerTrustee | 1 | $0 |
Barbara Densmore Secretary | OfficerTrustee | 1 | $0 |
Richard Dan Vega President | OfficerTrustee | 1 | $0 |
Maria Thomas Fisher Vice President | OfficerTrustee | 1 | $0 |
Suze Wollke Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,954 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,569 |
| Noncash contributions included in lines 1a–1f | $245 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,523 |
| Total Program Service Revenue | $0 |
| Investment income | $26,492 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $99,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $48,313 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $24,327 |
| Compensation of current officers, directors, key employees. | $6,082 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,727 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,912 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,401 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $275 |
| Total functional expenses | $91,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,145 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,200 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $202,410 |
| Investments—other securities | $1,435,733 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,644,488 |
| Accounts payable and accrued expenses | $13,680 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,680 |
| Net assets without donor restrictions | $1,415,779 |
| Net assets with donor restrictions | $215,029 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,644,488 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rochester Childrens Scholarship Fund Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
William & Sheila Konar Foundation W Henrietta, NY PURPOSE: D VEGA DESIGNATION | $5,000 |
Endowment Analysis
| Beg. Balance | $1,222,953 |
| Earnings | $391,946 |
| Net Contributions | $90,244 |
| Other Expense | $67,000 |
| Ending Balance | $1,638,143 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
Institute For Citizens And Scholars Princeton, NJ | $17,317,706 | $10,248,308 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |
The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Gilder Lehrman Institute Of American History New York, NY | $67,600,972 | $8,993,543 |
Siemens Foundation Iselin, NJ | $75,710,306 | $10,400,455 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Target Als Foundation Inc New York, NY | $26,527,264 | $6,977,665 |
Pursuit Transformation Company Inc Long Island City, NY | $13,294,970 | $6,856,404 |
Firemens Association Of The State New York Foundation Inc Albany, NY | $161,398,482 | $10,617,589 |