Scholarship Foundation Of Santa Barbara
- Assets
- $69.0m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 19
- Location
- Santa Barbara, CA
- Founding
- 01/1964
- Data as of
- 06/2023
- EIN
- 23-7087774
Organization Overview
Scholarship Foundation Of Santa Barbara is located in Santa Barbara, CA. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Scholarship Foundation Of Santa Barbara employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarship Foundation Of Santa Barbara 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, Scholarship Foundation Of Santa Barbara generated $10.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $9.1m during the year ending 06/2023. 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
INSPIRE, ENCOURAGE & SUPPORT STUDENTS TO AND THROUGH COLLEGE, GRADUATE & VOCATIONAL SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA HELPS SANTA BARBARA COUNTY STUDENTS ACCESS POSTSECONDARY AND VOCATIONAL EDUCATION THROUGH SCHOLARSHIPS AND FINANCIAL AID ADVISING. IT IS THE NATION'S LARGEST COMMUNITY-BASED PROVIDER OF POSTSECONDARY EDUCATION SCHOLARSHIPS, HAVING CUMULATIVELY AWARDED IN EXCESS OF $150 MILLION TO NEARLY 60,000 STUDENTS THROUGHOUT SANTA BARBARA COUNTY SINCE ITS FOUNDING IN 1962. IN 2023, THE SCHOLARSHIP FOUNDATION AWARDED ALMOST $7.2 MILLION TO 1,864 SANTA BARBARA COUNTY STUDENTS. SCHOLARSHIPS FOR UNDERGRADUATES STUDYING AT TWO-YEAR AND FOUR-YEAR COLLEGES AND UNIVERSITIES AVERAGED $3,500. FIFTY-THREE PERCENT OF THIS YEAR'S RECIPIENTS ARE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. THE PRIMARY CRITERIA FOR AWARD SELECTION ARE DONOR INTENT, FINANCIAL NEED, POTENTIAL, AND MOTIVATION.
THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA SERVES MORE THAN 20,000 INDIVIDUALS EACH YEAR THROUGH FINANCIAL AID WORKSHOPS AND INDIVIDUAL APPOINTMENTS. SPECIFICALLY, SCHOLARSHIP FOUNDATION PROGRAM ADVISORS ASSIST STUDENTS WITH SCHOLARSHIP APPLICATIONS, HELP DECIPHER COMPLEX FEDERAL AND STATE FINANCIAL AID FORMS, AND EXPLAIN FINANCIAL AID AWARD LETTERS AND LOAN PROGRAMS, ALL FREE OF CHARGE. OFFICE FINANCIAL AID WORKSHOPS AND PRESENTATIONS TAKE PLACE AT SCHOOLS THROUGHOUT SANTA BARBARA COUNTY. FINANCIAL AID ADVISING APPOINTMENTS ARE AVAILABLE FOR STUDENTS AND THEIR FAMILIES COUNTYWIDE. THE ORGANIZATION EMPLOYS FOUR FULL-TIME BILINGUAL PROGRAM ADVISORS. THANKS TO OUR PROGRAMS TEAM, SCHOLARSHIP FOUNDATION RECIPIENTS RECEIVE TENS OF MILLIONS OF DOLLARS IN ADDITIONAL FEDERAL, STATE, AND INSTITUTIONAL AID EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Ransohoff Secretary | OfficerTrustee | 3 | $0 |
Matt Rowe Board Chair | Trustee | 8 | $0 |
Danna Mcgrew Vice Chair | Trustee | 3 | $0 |
Christie Glanville Director | Trustee | 2 | $0 |
Joan Arnold Director | Trustee | 2 | $0 |
Greg Bartholomew Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $293,400 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,084,646 |
| Noncash contributions included in lines 1a–1f | $603,539 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,378,046 |
| Total Program Service Revenue | $85,392 |
| Investment income | $1,494,052 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $63,675 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $565,830 |
| Net Income from Fundraising Events | -$127,930 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,459,065 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,373,314 |
| Grants and other assistance to Foreign Orgs/Individuals | $72,695 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $625,936 |
| Compensation of current officers, directors, key employees. | $204,980 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $898,325 |
| Pension plan accruals and contributions | $49,494 |
| Other employee benefits | $88,971 |
| Payroll taxes | $108,005 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $51,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $51,497 |
| Fees for services: Investment Management | $141,264 |
| Fees for services: Other | $154,490 |
| Advertising and promotion | $30,832 |
| Office expenses | $92,967 |
| Information technology | $108,161 |
| Royalties | $0 |
| Occupancy | $103,786 |
| Travel | $12,334 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $137,616 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,746 |
| Insurance | $18,792 |
| All other expenses | $18,642 |
| Total functional expenses | $9,149,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101 |
| Savings and temporary cash investments | $6,584,553 |
| Pledges and grants receivable | $1,707,276 |
| 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 | $38,859 |
| Net Land, buildings, and equipment | $124,053 |
| Investments—publicly traded securities | $59,710,656 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $807,102 |
| Total assets | $68,972,600 |
| Accounts payable and accrued expenses | $236,982 |
| Grants payable | $6,402,000 |
| 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 | $618,024 |
| Total liabilities | $7,257,006 |
| Net assets without donor restrictions | $4,147,575 |
| Net assets with donor restrictions | $57,568,019 |
| 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 | $68,972,600 |