Crosby Scholars Community Partnership
- Assets
- $5.9m
- Revenue
- $4.0m
- Investments
- $1.1m
- Employees
- 67
- Location
- Winstonsalem, NC
- Founding
- 08/1997
- Data as of
- 06/2022
- EIN
- 31-1523230
Organization Overview
Crosby Scholars Community Partnership is located in Winstonsalem, NC. 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, Crosby Scholars Community Partnership employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crosby Scholars Community Partnership 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, Crosby Scholars Community Partnership generated $4.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $2.9m during the year ending 06/2022. While expenses have increased by 8.9% 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
PREPARE PUBLIC SCHOOL STUDENTS IN FORSYTH COUNTY FOR SUCCESSFUL COLLEGE ENROLLMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CROSBY SCHOLARS PROGRAM PROVIDES LAST DOLLAR GRANT ASSISTANCE TO GRADUATING SENIORS AND COLLEGE CROSBY SCHOLARS WHO SUCCESSFULLY COMPLETE THE PROGRAM. GRANTS ARE AWARDED FOR UP TO 1200 FOR UP TO FOUR YEARS OF COLLEGE TO STUDENTS WHO SUCCESSFULLY COMPLETE THE PROGRAM AS HIGH SCHOOL SENIORS, ACHIEVE A 2.0 CUMULATIVE GPA/QPA AND DEMONSTRATE FINANCIAL NEED AS DETERMINED BY RESULTS FROM THE FAFSA AND THE PROGRAM'S NEED ANALYSIS FORMULA. CROSBY SCHOLARS WHO ARE AWARDED A LAST DOLLAR GRANT ARE THOSE STUDENTS WHO HAVE BEEN OFFERED ADMISSION TO A PROGRAM OF STUDY, THEY HAVE COMPLETED THE FAFSA, THEY HAVE RECEIVED AN AWARD LETTER FROM THE COLLEGE THEY PLAN TO ATTEND AND THEY HAVE APPLIED FOR A LAST DOLLAR GRANT. THE STUDENTS WHO MEET THESE CRITERIA RECEIVE THE LAST DOLLAR GRANT BECAUSE THEY HAVE NOT RECEIVED ENOUGH FINANCIAL AID TO COVER THE COST OF ATTENDANCE IN THAT PARTICULAR SCHOOL YEAR. THE PROGRAM HELPS STUDENTS PREPARE FOR COLLEGE BY ENCOURAGING THEM TO MAKE GOOD DECISIONS, BY HELPING THEM DEVELOP STRONG ACADEMIC SKILLS AND BY HELPING THEM TO UNDERSTAND THE REQUIREMENTS FOR COLLEGE ADMISSION EARLY. WITH THIS GUIDANCE, STUDENTS CAN PREPARE FOR COLLEGE ENROLLMENT AND SCHOLARSHIP/FINANCIAL AID OPPORTUNITIES. STUDENTS CAN JOIN THE CROSBY SCHOLARS PROGRAM AS EARLY AS 6TH GRADE TO BEGIN THE PROCESS OF PREPARING FOR COLLEGE. STUDENTS ATTEND WORKSHOPS CALLED SATURDAY ACADEMY ON COLLEGE CAMPUSES. THE SATURDAY ACADEMY WORKSHOPS INCLUDE TOPICS SUCH AS ANGER MANAGEMENT, BUILDING SELF-ESTEEM, SPEECH AND COMMUNICATION, TIME MANAGEMENT, STUDY SKILLS, TEST TAKING SKILLS, CONFLICT RESOLUTION, PREPARING FOR THE SAT, CAREER EXPLORATION, COLLEGE ADMISSIONS, SCHOLARSHIPS, FINANCIAL AID AND COLLEGE SURVIVAL SKILLS. THESE CLASSES HELP STUDENTS DEVELOP THE FOUNDATION FOR SUCCESS THAT WILL HELP THEM BECOME BETTER PREPARED FOR COLLEGE. STUDENTS IN GRADES 9-11 MEET MONTHLY WITH VOLUNTEERS TO BETTER PREPARE FOR SUCCESSFUL COLLEGE ENROLLMENT, AND SENIOR CROSBY SCHOLARS MEET ONE ON ONE WITH AN ADVISOR TO HELP WITH THE SENIOR YEAR COLLEGE APPLICATION AND SCHOLARSHIP PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mona Lovett Executive Di | OfficerTrustee | 40 | $126,046 |
Ginger Salt Chairman | OfficerTrustee | 1 | $0 |
Natalie Jensen-Noll Vice Chairma | OfficerTrustee | 1 | $0 |
David Holden Treasurer | OfficerTrustee | 1 | $0 |
Jeff Hibbard Secretary | OfficerTrustee | 1 | $0 |
Jason Wenker Immediate Pa | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $20,035 |
| Membership dues | $0 |
| Fundraising events | $51,538 |
| Related organizations | $56,474 |
| Government grants | $315,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,135,516 |
| Noncash contributions included in lines 1a–1f | $10,938 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,578,563 |
| Total Program Service Revenue | $1,200,000 |
| Investment income | $2,620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $178,619 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,974,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $918,820 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,358 |
| Compensation of current officers, directors, key employees. | $24,514 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,189,066 |
| Pension plan accruals and contributions | $58,863 |
| Other employee benefits | $131,238 |
| Payroll taxes | $101,050 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,760 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,539 |
| Advertising and promotion | $7,010 |
| Office expenses | $65,243 |
| Information technology | $15,154 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,741 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,620 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,936 |
| Insurance | $6,885 |
| All other expenses | $10,576 |
| Total functional expenses | $2,882,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,759,537 |
| Savings and temporary cash investments | $155,713 |
| Pledges and grants receivable | $2,753,742 |
| Accounts receivable, net | $1,675 |
| 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 | $10,618 |
| Net Land, buildings, and equipment | $40,907 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,124,432 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,940 |
| Total assets | $5,853,564 |
| Accounts payable and accrued expenses | $58,013 |
| 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 | $58,013 |
| Net assets without donor restrictions | $549,430 |
| Net assets with donor restrictions | $5,246,121 |
| 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 | $5,853,564 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Crosby Scholars Community Partnership has recieved totaling $1,860,663.
| Awarding Organization | Amount |
|---|---|
Goodwill Industries Of Nw North Carolina Inc Winstonsalem, NC PURPOSE: FINANCIAL SUPPORT FOR CROSBY SCHOLARS, WHICH REMOVES BARRIERS TO ACCESS HIGHER EDUCATION. | $1,150,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 63 GRANT(S) FOR VARYING PURPOSES | $629,963 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
John Wesley Hanes And Anna Hodgin Hanes Foundation Las Vegas, NV PURPOSE: GENERAL OPERATING | $20,000 |
Twin City Development Foundation Winstonsalem, NC PURPOSE: EDUCATION | $15,000 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $12,500 |
Endowment Analysis
| Beg. Balance | $1,278,734 |
| Earnings | -$94,827 |
| Admin Expense | $12,695 |
| Other Expense | $46,780 |
| Ending Balance | $1,124,432 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Amity Medical Group Inc Charlotte, NC | $3,300,228 | $10,911,191 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |