Scholarship Foundation Of Santa Barbara
- Assets
- $64.3m
- Revenue
- $10.0m
- Investments
- $37.3k
- Employees
- 15
- Location
- Santa Barbara, CA
- Founding
- 01/1964
- Data as of
- 06/2022
- 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 06/2022, Scholarship Foundation Of Santa Barbara employed 15 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 06/2022, Scholarship Foundation Of Santa Barbara generated $10.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $8.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. 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
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 EDUCATION THROUGH SCHOLARSHIPS AND FINANCIAL AID COUNSELING. IT IS THE NATION'S LARGEST COMMUNITY-BASED PROVIDER OF COLLEGE SCHOLARSHIPS, HAVING CUMULATIVELY AWARDED INEXCESS OF $144 MILLION TO MORE THAN 57,000 COUNTY STUDENTS SINCE ITS FOUNDING IN 1962. IN 2022, THE SCHOLARSHIP FOUNDATION AWARDED A TOTAL OF $7.7 MILLION TO 2,146 SANTA BARBARA COUNTY STUDENTS. SCHOLARSHIPS FOR UNDERGRADUATES STUDYING AT FOUR-YEAR COLLEGES AND UNIVERSITIES AVERAGED $3,500. FIFTY PERCENT OF THIS YEAR'S RECIPIENTS ARE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. THE PRIMARY CRITERIA FOR AWARD SELECTION ARE FINANCIAL NEED, POTENTIAL, AND MOTIVATION.
THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA SERVES MORE THAN 25,000 INDIVIDUALS EACH YEAR THROUGH FINANCIAL AID WORKSHOPS AND OFFICE 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. OFFSITE FINANCIAL AID WORKSHOPS AND PRESENTATIONS TAKE PLACE AT AREA SCHOOLS. ONSITE FINANCIAL AID ADVISING APPOINTMENTS ARE AVAILABLE FOR STUDENTS AND THEIR FAMILIES IN SANTA MARIA AND SANTA BARBARA. THE ORGANIZATION EMPLOYS FOUR BILINGUAL PROGRAM ADVISORS. THANKS TO OUR PROGRAMS TEAM, SCHOLARSHIP FOUNDATION RECIPIENTS RECEIVE TENS OF MILLIONS OF DOLLARS IN ADDITIONAL FINANCIAL AID EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Robertson President & CEO | Officer | 40 | $201,877 |
Tim Dougherty Chief Communications Officer | 40 | $121,361 | |
Len Smolburd Chief Programs Officer | 40 | $114,728 | |
James Hutchinson CFO | Officer | 40 | $114,697 |
Mathew Rowe Board Chair | OfficerTrustee | 8 | $0 |
Greg Bartholomew Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $265,000 |
| Related organizations | $0 |
| Government grants | $242,470 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,959,812 |
| Noncash contributions included in lines 1a–1f | $457,758 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,467,282 |
| Total Program Service Revenue | $85,392 |
| Investment income | $1,578,618 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $19,580 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $953,688 |
| Net Income from Fundraising Events | -$117,411 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,987,149 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,727,632 |
| Grants and other assistance to Foreign Orgs/Individuals | $36,760 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $327,178 |
| Compensation of current officers, directors, key employees. | $142,985 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $738,677 |
| Pension plan accruals and contributions | $45,288 |
| Other employee benefits | $72,479 |
| Payroll taxes | $73,561 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,621 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,167 |
| Fees for services: Investment Management | $159,234 |
| Fees for services: Other | $15,500 |
| Advertising and promotion | $31,436 |
| Office expenses | $81,290 |
| Information technology | $85,454 |
| Royalties | $0 |
| Occupancy | $81,163 |
| Travel | $3,108 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $66,600 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,240 |
| Insurance | $14,673 |
| All other expenses | $9,193 |
| Total functional expenses | $8,622,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99 |
| Savings and temporary cash investments | $7,893,180 |
| Pledges and grants receivable | $1,905,585 |
| 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 | $26,837 |
| Net Land, buildings, and equipment | $135,799 |
| Investments—publicly traded securities | $54,070,505 |
| Investments—other securities | $37,260 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $222,058 |
| Total assets | $64,291,323 |
| Accounts payable and accrued expenses | $188,341 |
| Grants payable | $6,876,137 |
| 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 | $7,064,478 |
| Net assets without donor restrictions | $5,707,422 |
| Net assets with donor restrictions | $51,519,423 |
| 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 | $64,291,323 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Scholarship Foundation Of Santa Barbara has recieved totaling $476,000.
| Awarding Organization | Amount |
|---|---|
Bp Foundation Rohnert Park, CA PURPOSE: SCHOLARSHIPS | $470,000 |
Organization Name not Listed PURPOSE: (2) EDUCATIONAL SCHOLARSHIPS | | $6,000 |
Endowment Analysis
| Beg. Balance | $57,676,947 |
| Earnings | -$7,111,630 |
| Net Contributions | $1,414,764 |
| Grants | $2,288,796 |
| Ending Balance | $49,691,285 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Making Waves Foundation Inc Richmond, CA | $241,696,341 | $12,436,212 |
Port Of Los Angeles High School San Pedro, CA | $18,161,675 | $15,549,620 |
Uc Hastings Foundation San Francisco, CA | $2,612,244 | $11,589,695 |
The Rogers Foundation Las Vegas, NV | $98,020,626 | $8,861,096 |
Flinn Foundation Phoenix, AZ | $285,130,665 | $13,331,134 |
La Promise Fund Los Angeles, CA | $8,970,074 | $12,859,195 |
Brophy Community Foundation Phoenix, AZ | $21,931,888 | $12,402,402 |
Society Of Hispanic Professional Engineers City Of Industry, CA | $8,652,087 | $11,894,639 |
Oakland Promise Oakland, CA | $69,217,814 | $17,084,213 |
Foundation For Global Sports Development Los Angeles, CA | $28,471,591 | $19,690,244 |
Ressler Gertz Foundation Encino, CA | $41,227,955 | $63,459,065 |
Basic Fund Oakland, CA | $23,987,500 | $9,637,782 |