Scholarmatch Inc
- Assets
- $6.7m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 25
- Location
- San Francisco, CA
- Founding
- 06/2012
- Data as of
- 09/2023
- EIN
- 45-4985621
Organization Overview
Scholarmatch Inc is located in San Francisco, CA. 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 09/2023, Scholarmatch Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scholarmatch Inc 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 09/2023, Scholarmatch Inc generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $3.0m during the year ending 09/2023. While expenses have increased by 14.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP MAKE COLLEGE POSSIBLE FOR FIRST-GENERATION, LOW-INCOME BACKGROUND STUDENTS FROM APPLICATION ALL THE WAY THROUGH COLLEGE GRADUATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARS PROGRAM (COLLEGE PERSISTENCE): STUDENTS WHO SUCCESSFULLY COMPLETE THE DESTINATION PROGRAM BECOME ELIGIBLE TO APPLY TO THE SCHOLARS PROGRAM, WHICH CURRENTLY SERVES 262 STUDENTS. SCHOLARMATCH SCHOLARS ARE MATCHED WITH A PROFESSIONAL COLLEGE ADVISOR ON STAFF WHO PROVIDES YEAR-ROUND ADVISING AND WILL RECEIVE UP TO $25,000 IN TARGETED FINANCIAL AID, INCLUDING STUDENT LOAN REPAYMENT, EMERGENCY FUNDS, AND MORE. STUDENTS ALSO PARTICIPATE IN WORKSHOPS TO SUPPORT THEIR WELLBEING, ACADEMIC PERFORMANCE, AND CAREER PREPAREDNESS, AND MAY REQUEST TO BE MATCHED TO A VOLUNTEER CAREER COACH AS THEY CONTINUE THROUGH COLLEGE.
DESTINATION COLLEGE (COLLEGE ACCESS): OUR DESTINATION COLLEGE PROGRAM PROVIDED COLLEGE ACCESS COUNSELING TO 218 LOW-INCOME HIGH SCHOOL STUDENTS APPLYING TO COLLEGE. STARTING THE SPRING OF JUNIOR YEAR OF HIGH SCHOOL, SCHOLARMATCH STUDENTS ARE MATCHED WITH A VOLUNTEER COLLEGE COACH WHO WORKS 1:1 WITH THEM FOR A FULL YEAR. VOLUNTEER COACHES RECEIVE ROBUST TRAINING FROM SCHOLARMATCH AND SUPPORT STUDENTS THROUGH ALL ASPECTS OF THE COLLEGE APPLICATION PROCESS - FROM CHOOSING WHERE TO APPLY, TO WRITING PERSONAL STATEMENTS, TO EVALUATING FINANCIAL AID. STUDENTS ALSO RECEIVE ACCESS TO COLLEGE ACCESS WORKSHOPS, AND ONLINE TOOLS INCLUDING SCHOLARMATCHER, AN ONLINE COLLEGE SEARCH ENGINE DESIGNED SPECIFICALLY FOR LOW-INCOME AND FIRST-GENERATION STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Grace-Baker Chair | OfficerTrustee | 3 | $0 |
Miriam Karpilow Vice Chair | OfficerTrustee | 1 | $0 |
Martha Castillo Secretary | OfficerTrustee | 1 | $0 |
Ayanda Magwaza Treasurer | OfficerTrustee | 0.8 | $0 |
Luz Gomez Finance Chair | Trustee | 1 | $0 |
Sheila Doucet Governance Chair | Trustee | 1 | $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 | $4,352,174 |
| Noncash contributions included in lines 1a–1f | $5,958 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,352,174 |
| Total Program Service Revenue | $0 |
| Investment income | $82,737 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$28 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,434,883 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $683,619 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $201,904 |
| Compensation of current officers, directors, key employees. | $40,863 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,448,230 |
| Pension plan accruals and contributions | $55,803 |
| Other employee benefits | $109,201 |
| Payroll taxes | $124,796 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,910 |
| Fees for services: Accounting | $90,381 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,208 |
| Advertising and promotion | $26,538 |
| Office expenses | $22,018 |
| Information technology | $35,082 |
| Royalties | $0 |
| Occupancy | $21,201 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $46,107 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $28,008 |
| All other expenses | $0 |
| Total functional expenses | $2,993,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,225,879 |
| Savings and temporary cash investments | $2,407,599 |
| Pledges and grants receivable | $2,070,990 |
| 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 | $902 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,034,893 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,500 |
| Total assets | $6,742,763 |
| Accounts payable and accrued expenses | $128,010 |
| 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 | $128,010 |
| Net assets without donor restrictions | $2,459,196 |
| Net assets with donor restrictions | $4,155,557 |
| 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 | $6,742,763 |
Grants Awarded
Over the last fiscal year, Scholarmatch Inc has awarded $108,969 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CSU DOMINGUEZ HILLS PURPOSE: Tuition and school fees/Expenses | $6,000 |
BOSTON COLLEGE PURPOSE: Tuition and school fees/Expenses | $5,500 |
OHIO WESLEYAN UNIVERSITY PURPOSE: Tuition and school fees/Expenses | $6,750 |
CSU SAN JOSE PURPOSE: Tuition and school fees/Expenses | $8,500 |
CSU SAN FRANCISCO PURPOSE: Tuition and school fees/Expenses | $11,497 |
UC BERKELEY PURPOSE: Tuition and school fees/Expenses | $17,410 |