Denver Scholarship Foundation
- Assets
- $37.4m
- Revenue
- $15.2m
- Investments
- $2.9m
- Employees
- 98
- Location
- Denver, CO
- Founding
- 08/2007
- Data as of
- 06/2023
- EIN
- 20-5143175
Organization Overview
Denver Scholarship Foundation is located in Denver, CO. The organization was established in 2007. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, Denver Scholarship Foundation employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Denver Scholarship Foundation 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 06/2023, Denver Scholarship Foundation generated $15.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $16.2m during the year ending 06/2023. While expenses have increased by 9.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER DENVER PUBLIC SCHOOL STUDENTS TO ENROLL IN AND GRADUATE (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: DENVER SCHOLARSHIP FOUNDATION (DSF) AWARDS NEED-BASED SCHOLARSHIPS TO DENVER PUBLIC SCHOOLS (DPS) GRADUATES WHO ENROLL IN ANY ONE OF OUR 31 POSTSECONDARY INSTITUTIONAL PARTNERS IN COLORADO, INCLUDING UNIVERSITIES, COMMUNITY COLLEGES AND TECHNICAL COLLEGES. DSF AWARDED OVER 7M IN SCHOLARSHIPS TO OVER 2,000 DSF SCHOLARS (DPS GRADUATES RECEIVING A DSF SCHOLARSHIP) THIS YEAR. THESE SCHOLARSHIPS ARE PROMISE- BASED, MEANING EVERY DPS STUDENT WHO MEETS THE ELIGIBILITY CRITERIA AND ALL DSF REQUIREMENTS ENTERING INTO AND WHILE ATTENDING COLLEGE RECEIVES THE SCHOLARSHIP FOR UP TO FOUR YEARS, DEPENDING ON THE TYPE OF COLLEGE THEY ATTEND. (CONTINUED ON SCHEDULE O)
COLLEGE ACCESS: DSF PROVIDES FREE CAREER AND COLLEGE ADVISEMENT SERVICES FOR OVER 9,000 9-12 GRADE STUDENTS THROUGH ITS 15 DSF FUTURE CENTERS, WHICH ARE DSF-STAFF RESOURCE CENTERS IN DPS HIGH SCHOOLS. THE MAJORITY OF STUDENTS SERVED THROUGH DSF FUTURE CENTERS DEMONSTRATE FINANCIAL NEED AND IDENTIFY AS PEOPLE OF COLOR; COACHING THESE STUDENTS AND THEIR FAMILIES THROUGH THE COMPLEXITIES OF PLANNING, APPLYING, ENROLLING AND PAYING FOR COLLEGE ARE THE CORE FUNCTIONS OF THIS MUCH-NEEDED PROGRAM. (CONTINUED ON SCHEDULE O)
SUCCESS: DSF PROVIDES CRITICAL WRAPAROUND SERVICES TO ALL DSF SCHOLARS, ENSURING EACH RECEIVES ADDITIONAL CAREER EXPLORATION AND GUIDANCE, FINANCIAL AID, ACADEMIC, AND SOCIAL SUPPORT TO HELP THEM PERSIST AND GRADUATE FROM COLLEGE. DSF'S EMBEDDED TEAM OF DSF ADVISORS PROVIDE SUCCESS SERVICES DIRECTLY TO DSF SCHOLARS ENROLLED ON ONE OF THREE COLLEGES LOCATED ON DENVER'S AURARIA CAMPUS; FOR EACH OF DSF'S OTHER 28 COLLEGE PARTNERS (LOCATED THROUGHOUT THE STATE), DSF HAS AGREEMENTS IN PLACE WHICH ENSURE DSF SCHOLARS RECEIVE SUCCESS SERVICES THROUGH DESIGNATED CAMPUS AND FINANCIAL AID CONTACTS AT EACH INSTITUTION. (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorii Rabinowitz CEO | Officer | 40 | $220,636 |
Patti Schwartzberg CFO | Officer | 40 | $171,803 |
Nate Cadena COO | Officer | 40 | $150,433 |
Patricia Whitehouse Director Of | 40 | $120,770 | |
Erin Henninger Cdo | 40 | $130,865 | |
James Tucker Director Of | 40 | $112,666 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gyan-i Inc It Services | 6/29/23 | $107,725 |
Coastalcloud Llc It Services | 6/29/23 | $197,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,076,655 |
| Related organizations | $0 |
| Government grants | $3,785,018 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,284,588 |
| Noncash contributions included in lines 1a–1f | $793,795 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,146,261 |
| Total Program Service Revenue | $0 |
| Investment income | $913,130 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$873,253 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,186,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,136,682 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $612,112 |
| Compensation of current officers, directors, key employees. | $258,447 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,741,074 |
| Pension plan accruals and contributions | $199,787 |
| Other employee benefits | $482,110 |
| Payroll taxes | $430,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,420 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $103,352 |
| Fees for services: Other | $187,021 |
| Advertising and promotion | $0 |
| Office expenses | $65,833 |
| Information technology | $535,707 |
| Royalties | $0 |
| Occupancy | $337,287 |
| Travel | $42,493 |
| 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 | $16,765 |
| Insurance | $0 |
| All other expenses | $22,002 |
| Total functional expenses | $16,172,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $385,598 |
| Savings and temporary cash investments | $3,286,102 |
| Pledges and grants receivable | $2,087,375 |
| Accounts receivable, net | $1,164 |
| 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 | $242,514 |
| Net Land, buildings, and equipment | $76,114 |
| Investments—publicly traded securities | $27,052,460 |
| Investments—other securities | $2,871,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,443,304 |
| Total assets | $37,445,731 |
| Accounts payable and accrued expenses | $417,961 |
| 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 | $1,834,854 |
| Total liabilities | $2,252,815 |
| Net assets without donor restrictions | $3,673,735 |
| Net assets with donor restrictions | $31,519,181 |
| 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 | $37,445,731 |