Central Pennsylvania Scholarship Fund
- Assets
- $54.0m
- Revenue
- $55.3m
- Investments
- $0.0
- Employees
- 7
- Location
- Tyrone, PA
- Founding
- 12/2012
- Data as of
- 12/2022
- EIN
- 45-4423429
Organization Overview
Central Pennsylvania Scholarship Fund is located in Tyrone, PA. The organization was established in 2012. 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 12/2022, Central Pennsylvania Scholarship Fund employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Pennsylvania Scholarship Fund 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 12/2022, Central Pennsylvania Scholarship Fund generated $55.3m in total revenue. All expenses for the organization totaled $43.8m during the year ending 12/2022. While expenses have increased by 60.7% per year over the past 8 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.
Since 2015, Central Pennsylvania Scholarship Fund has awarded 1,244 individual grants totaling $104,780,104. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EDUCATIONAL OPPORTUNITY THRU EDUCATIONAL CHOICE TO STUDENTS FROM LOW AND MIDDLE INCOME FAMILIES FACILITATED USING SCHOLARSHIPS AND EDUCATIONAL IMPROVEMENT PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATIONAL OPPORTUNITY THRU EDUCATIONAL CHOICE TO STUDENTS FROM LOW AND MIDDLE INCOME FAMILIES USING SCHOLARSHIPS TO FUND TUITION AT PRIVATE SCHOOLS IN CENTRAL PENNSYLVANIA AND EDUCATIONAL IMPROVEMENT PROGRAMS AT PENNSYLANIA PUBLIC SCHOOLS AND THEIR ASSIGNS AND GRANTS TO OTHER CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Tarpey President | OfficerTrustee | 10 | $30,000 |
Christopher Palazzi Board Member | Trustee | 1 | $0 |
Edward Kaplan Board Member | Trustee | 1 | $0 |
Lindsey Bennett Secretary | OfficerTrustee | 1 | $0 |
Joseph Adams Board Member | Trustee | 1 | $0 |
Tami Clark Executive Director | OfficerTrustee | 40 | $75,300 |
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 | $55,174,497 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,174,497 |
| Total Program Service Revenue | $0 |
| Investment income | $159,824 |
| 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 | $55,334,922 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $43,381,243 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,139 |
| Compensation of current officers, directors, key employees. | $151,139 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,973 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,119 |
| Payroll taxes | $18,632 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $751 |
| Fees for services: Accounting | $24,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,051 |
| Office expenses | $7,861 |
| Information technology | $1,830 |
| Royalties | $0 |
| Occupancy | $151,375 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,254 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,654 |
| All other expenses | $0 |
| Total functional expenses | $43,811,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10 |
| Savings and temporary cash investments | $54,031,914 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $54,031,924 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $54,031,924 |
| Total liabilities and net assets/fund balances | $54,031,924 |
Grants Awarded
Over the last fiscal year, Central Pennsylvania Scholarship Fund has awarded $43,262,479 in support to 307 organizations.
| Grant Recipient | Amount |
|---|---|
GREAT COMMISSION SCHOOL PURPOSE: PENNSYLVANIA EITC SCHOLARSHIPS | $71,260 |
BLAIR COUNTY CHRISTIAN SCHOOL PURPOSE: PENNSYLVANIA EITC SCHOLARSHIPS | $88,500 |
ADAMS COUNTY CHRISTIAN ACADEMY PURPOSE: PENNSYLVANIA EITC SCHOLARSHIPS | $38,500 |
BISHOP CARROLL CATHOLIC HIGH SCHOOL PURPOSE: PENNSYVLANIA EITC SCHOLARSHIPSPENNSYLVANIA EITC SCHOLARSHIPS | $274,200 |
GRACE PREP CHRISTIAN HIGH SCHOOL PURPOSE: PENNSYLVANIA EITC SCHOLARSHIPS | $95,500 |
GROVE CITY CHRISTIAN ACADEMY PURPOSE: PENNSYLVANIA EITC SCHOLARSHIPS | $188,735 |