Childrens Scholarship Fund Baltimore
- Assets
- $1.2m
- Revenue
- $748.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Baltimore, MD
- Founding
- 01/1997
- Data as of
- 06/2022
- EIN
- 31-1480933
Organization Overview
Childrens Scholarship Fund Baltimore is located in Baltimore, MD. The organization was established in 1997. 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, Childrens Scholarship Fund Baltimore employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Scholarship Fund Baltimore 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, Childrens Scholarship Fund Baltimore generated $748.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $739.4k during the year ending 06/2022. 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 PROVIDE SCHOLARSHIPS TO LOW INCOME STUDENTS IN GRADES K-8 TO ATTEND THE SCHOOL THEIR PARENTS CHOOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CSFB KNOWS THAT PARENTS WANT TO CHOOSE A SCHOOL FOR THEIR CHILDREN THAT WILL MEET THEIR NEEDS - SOCIALLY, ACADEMICALLY, EMOTIONALLY AND STRUCTURALLY. OUR MISSION IS TO PROVIDE THE CHOICE TO EVERY FAMILY - REGARDLESS OF INCOME LEVEL. CONCURRENT WITH PUBLIC EDUCATION REFORMS IN BALTIMORE, PRIVATELY-FUNDED SCHOOL CHOICE REMAINS AN OPTION THAT HUNDREDS OF FAMILIES WANT FOR THEIR CHILDREN - THERE ARE CONSISTENTLY MORE THAN 900 STUDENTS FROM 400 FAMILIES ON OUR WAITING LIST. CSFB IS THE ONLY NON-PROFIT ORGANIZATION IN BALTIMORE CITY THAT AWARDS KINDERGARTEN-8TH GRADE SCHOLARSHIPS TO LOW-INCOME FAMILIES WITHOUT REGARD TO GENDER, RACE, GRADES OR TEST SCORES, ETHINICITY OR RELIGIOIUS BELIEF. THE ONLY REQUIREMENTS ARE THAT OUR FAMILIES:1. MEET CSFB INCOME ELIGIBILITY - AT OR BELOW 270% OF THE FEDERAL POVERTY LEVEL;2. CONTRIBUTE A MINIMUM OF $500 PER YEAR PER CHILD IN TUITION;3. RESIDE IN BALTIMORE CITY;4. ENSURE THAT THEIR CHILDREN MAINTIAN A 90% ATTENDANCE RATE AT SCHOOL.WE BELIEVE THAT A STUDENT'S ECONOMIC STATUS SHOULD BE NEITHER A BARRIER TO THE SCHOOL OF HIS OR HER CHOICE, NOR A VARIABLE IN HIS OR HER SUCCESS IN SCHOOL AND IN LIFE. THESE SCHOLARSHIPS ENABLE CHILDREN TO BUILD CRITICAL ACADEMIC AND SOCIAL SKILLS - ENSURING LONG-TERM SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Harbinson Executive Director | Officer | 40 | $93,840 |
Angelo Otterbein Secretary | OfficerTrustee | 1 | $0 |
Elizabeth Green Chair | OfficerTrustee | 1 | $0 |
Rick Corcoran Jr Vice Chair, Treasurer | OfficerTrustee | 1 | $0 |
Sophia Marquez Alumni Development Chair | OfficerTrustee | 1 | $0 |
Carl Schwartz Trustee | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $734,825 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $734,825 |
| Total Program Service Revenue | $0 |
| Investment income | $12,882 |
| 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 | $748,707 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $487,126 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $99,471 |
| Compensation of current officers, directors, key employees. | $14,921 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,963 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,641 |
| Payroll taxes | $16,211 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,554 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,970 |
| Office expenses | $10,872 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $954 |
| 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 | $667 |
| Insurance | $2,413 |
| All other expenses | $0 |
| Total functional expenses | $739,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,166,638 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,517 |
| 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 | $2,111 |
| Investments—publicly traded securities | $34,050 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,121 |
| Total assets | $1,224,437 |
| Accounts payable and accrued expenses | $22,990 |
| 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 | $22,990 |
| Net assets without donor restrictions | $1,174,922 |
| Net assets with donor restrictions | $26,525 |
| 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 | $1,224,437 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Childrens Scholarship Fund Baltimore has recieved totaling $47,000.
| Awarding Organization | Amount |
|---|---|
Baltimore Next Generation Investing Event Inc Baltimore, MD PURPOSE: financial support | $47,000 |
Endowment Analysis
| Beg. Balance | $39,800 |
| Earnings | -$5,553 |
| Admin Expense | $197 |
| Ending Balance | $34,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thurgood Marshall College Fund Inc Washington, DC | $121,810,471 | $98,266,975 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |