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 06/2022, Denver Scholarship Foundation employed 94 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 06/2022, Denver Scholarship Foundation generated $14.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $12.0m during the year ending 06/2022. While expenses have increased by 6.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER DENVER PUBLIC SCHOOL STUDENTS TO ENROLL IN AND GRADUATE (CONTINUED ON SCHEDULE O) (CONTINUED) FROM POST-SECONDARY INSTITUTIONS OF HIGHER EDUCATION.
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 AWARDS APPROXIMATELY $5M IN SCHOLARSHIPS EACH YEAR TO ROUGHLY 1,800 DSF SCHOLARS (DPS GRADUATES RECEIVING A DSF SCHOLARSHIP). THESE SCHOLARSHIPS ARE PROMISE-BASED, MEANING THAT EVERY DPS GRADUATE WHO MEETS THE QUALIFICATIONS RECEIVES A SCHOLARSHIP FOR UP TO FOUR YEARS, DEPENDING ON THE TYPE OF COLLEGE THEY ATTEND. (CONTINUED ON SCHEDULE O) (CONTINUED - SCHOLARSHIPS)THE DEMOGRAPHICS OF OUR DSF SCHOLARS ARE AMONG THE MOST UNDER-REPRESENTED IN COLLEGE. ALL DSF SCHOLARS DEMONSTRATE FINANCIAL NEED, 90% ARE STUDENTS OF COLOR, AND 88% ARE FIRST GENERATION COLLEGE STUDENTS.IMPACT: SINCE ITS INCEPTION IN 2006 DSF HAS AWARDED OVER $52.4M IN SCHOLARSHIPS, CHANGING THE LIFE TRAJECTORY FOR 8,272 DPS GRADUATES.
COLLEGE ACCESS: DSF PROVIDES FREE CAREER AND COLLEGE ADVISEMENT SERVICES FOR STUDENTS AT 22 DPS HIGH SCHOOLS THROUGH 15 DSF FUTURE CENTERS, WHICH ARE ON-SITE RESOURCE CENTERS. COLLEGE ACCESS SERVICES ARE PROVIDED TO OVER 5,000 DPS STUDENTS EACH YEAR. THE MAJORITY OF STUDENTS SERVED 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 IS THE CORE FUNCTION OF THIS MUCH-NEEDED PROGRAM. (CONTINUED ON SCHEDULE O)(CONTINUED - COLLEGE ACCESS)DSF FUTURE CENTERS ARE STAFFED WITH DSF COLLEGE ADVISORS WHO WORK ONE-ON-ONE WITH STUDENTS, HELPING THEM SELECT THE COLLEGE PATHWAY THAT BEST FITS THEIR ACADEMIC, FINANCIAL AND PERSONAL GOALS, WHICH HELPS ENSURE THEIR SUCCESS IN COLLEGE PERSISTENCE AND GRADUATION. IMPACT: DPS HIGH SCHOOLS WITH AN ON-SITE DSF FUTURE CENTER SEND MORE GRADUATING SENIORS TO COLLEGE, COMPARED TO HIGH SCHOOLS WITHOUT A DSF FUTURE CENTER.
COLLEGE SUCCESS: DSF PROVIDES CRITICAL WRAPAROUND SERVICES TO ALL DSF SCHOLARS, ENSURING EACH RECEIVES ADDITIONAL FINANCIAL AID, ACADEMIC, AND SOCIAL SUPPORT TO HELP THEM PERSIST AND GRADUATE FROM COLLEGE. DSF'S EMBEDDED TEAM OF DSF CAMPUS ADVISORS PROVIDE COLLEGE SUCCESS SERVICES DIRECTLY TO OVER 1,000 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 COLLEGE SUCCESS SERVICES THROUGH DESIGNATED CAMPUS AND FINANCIAL AID CONTACTS AT EACH INSTITUTION. (CONTINUED ON SCHEDULE O)(CONTINUED - COLLEGE SUCCESS)WITH 90.7% OF TOP PAYING JOBS IN COLORADO (THOSE OFFERING A LIVING WAGE) REQUIRING SOME SORT OF POSTSECONDARY CREDENTIAL, SUPPORTING DSF SCHOLARS TO AND THROUGH COLLEGE COMPLETION IS CRITICALLY IMPORTANT.IMPACT: COLLEGE SUCCESS DIRECTLY IMPACTS THE SUCCESS OF DSF SCHOLARS. BECAUSE OF THESE CRITICAL SUPPORT SERVICES, 82% OF THE MOST RECENT SIX-YEAR COHORT OF DSF SCHOLARS HAVE GRADUATED OR CONTINUE TO PERSIST IN THEIR DRIVE TO ATTAIN A COLLEGE CERTIFICATE OR DEGREE. THE SUCCESS DEMONSTRATED BY DSF SCHOLARS ADDITIONALLY ALLOWS FOR PARTIAL REIMBURSEMENT BY THE CITY AND COUNTY OF DENVER'S VOTER-PROVED PROSPERITY DENVER FUND, ENSURING EVEN GREATER STUDENT ACCESS TO A POSTSECONDARY EDUCATION AND SUCCESSFUL COMPLETION OF A DEGREE OR CERTIFICATE.DSF LEADS A UNIQUE, OUTCOME-ORIENTED PROGRAMMATIC COLLABORATION AMONG DPS, COLORADO COLLEGES AND UNIVERSITIES, THE CITY AND COUNTY OF DENVER, AND THE STATE OF COLORADO. THIS COLLABORATION SUPPORTS THE DRIVE AND RESILIENCY OF DENVER'S STUDENTS-IN-NEED TO MAKE COLLEGE POSSIBLE, BRINGS FORTH UNLIMITED STUDENT POTENTIAL, BUILDS ECONOMIC MOBILITY FOR FAMILIES, AND STRENGTHENS THE ECONOMIC VITALITY FOR THE STATE OF COLORADO.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lorii Rabinowitz Chief Executive Officer | Officer | 40 | $204,200 |
Patti Schwartzberg Chief Financial Officer | Officer | 40 | $146,615 |
Nate Cadena Chief Operating Officer | Officer | 40 | $140,056 |
Patricia Whitehouse Director Of Human Resources | 40 | $103,110 | |
Robert F Deibel Chair | OfficerTrustee | 3 | $0 |
Thomas G Wattles Treasurer Thru Febuary 2022 | OfficerTrustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Prosperity Denver Lobbying | 6/29/19 | $625,000 |
Gyan-i Inc It Services | 6/29/19 | $149,693 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $1,021,966 |
Related organizations | $0 |
Government grants | $3,352,717 |
All other contributions, gifts, grants, and similar amounts not included above | $9,423,077 |
Noncash contributions included in lines 1a–1f | $376,367 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,797,760 |
Total Program Service Revenue | $0 |
Investment income | $686,126 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$486,315 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $13,999,484 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $5,297,186 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $563,716 |
Compensation of current officers, directors, key employees. | $238,447 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,749,537 |
Pension plan accruals and contributions | $162,794 |
Other employee benefits | $415,416 |
Payroll taxes | $334,320 |
Fees for services: Management | $0 |
Fees for services: Legal | $8,000 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $48,146 |
Fees for services: Investment Management | $148,265 |
Fees for services: Other | $138,874 |
Advertising and promotion | $0 |
Office expenses | $65,352 |
Information technology | $465,150 |
Royalties | $0 |
Occupancy | $215,007 |
Travel | $17,317 |
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 | $18,160 |
Insurance | $18,988 |
All other expenses | $0 |
Total functional expenses | $11,984,766 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $625,566 |
Savings and temporary cash investments | $9,574 |
Pledges and grants receivable | $2,391,195 |
Accounts receivable, net | $40,353 |
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 | $187,658 |
Net Land, buildings, and equipment | $44,433 |
Investments—publicly traded securities | $27,321,432 |
Investments—other securities | $3,090,143 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $106,969 |
Total assets | $33,817,323 |
Accounts payable and accrued expenses | $235,678 |
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 | $338,433 |
Total liabilities | $574,111 |
Net assets without donor restrictions | $5,111,113 |
Net assets with donor restrictions | $28,132,099 |
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 | $33,817,323 |
Over the last fiscal year, we have identified 45 grants that Denver Scholarship Foundation has recieved totaling $6,396,191.
Awarding Organization | Amount |
---|---|
Prosperity Denver Fund Denver, CO PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $4,622,486 |
Fidelity Foundation Boston, MA PURPOSE: TECHNOLOGY | $340,000 |
Daniels Fund Denver, CO PURPOSE: CAREER & TECHNICAL EDUCATION AND MULTIPLE CAREER PATHWAYS | $175,000 |
Hugh And Michelle Harvey Family Foundation Denver, CO PURPOSE: PROGRAM SPECIFIC | $100,000 |
Hugh And Michelle Harvey Family Foundation Denver, CO PURPOSE: PROGRAM SPECIFIC | $100,000 |
Schlessman Foundation Inc Denver, CO PURPOSE: SCHLESSMAN FAMILY FOUNDATION SCHOLARSHIP INSTALLMENT ON $500,000 PLEDGE. | $100,000 |
Beg. Balance | $28,358,209 |
Earnings | -$4,802,419 |
Net Contributions | $50,500 |
Grants | $93,076 |
Ending Balance | $23,513,214 |
Organization Name | Assets | Revenue |
---|---|---|
Classical Academy Colorado Springs, CO | $97,154,437 | $39,391,484 |
Spectrum Healthcare Group Inc Cottonwood, AZ | $17,862,058 | $29,292,227 |
Heritage Hall Oklahoma City, OK | $29,893,924 | $20,863,460 |
United States Deputy Sheriffs Association Inc Wichita, KS | $2,971,599 | $19,654,227 |
Arizona Agribusiness & Equine Center Phoenix, AZ | $41,363,992 | $18,352,142 |
Northwest Christian School Phoenix, AZ | $14,587,608 | $15,711,697 |
Fit Kids Inc Scottsdale, AZ | $27,357,951 | $13,904,484 |
Community Action Partnership Of Mid-Nebraska Kearney, NE | $10,567,482 | $13,526,656 |
Center For Academic Success Sierra Vista, AZ | $18,278,347 | $12,993,576 |
Oklahoma Connections Academy Inc Bartlesville, OK | $2,156,539 | $12,078,246 |
Denver Scholarship Foundation Denver, CO | $33,817,323 | $13,999,484 |
Mccalls Chapel School Inc Ada, OK | $9,915,625 | $11,707,804 |