Scholarmatch Inc
- Assets
- $5.1m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 37
- Location
- San Francisco, CA
- Founding
- 06/2012
- Data as of
- 09/2021
- 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 09/2021, Scholarmatch Inc employed 37 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 09/2021, Scholarmatch Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $4.8m during the year ending 09/2021. 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
2021
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 470 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): STARTING IN 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, INFO SESSIONS WITH COLLEGE ADMISSIONS OFFICERS, AND ONLINE TOOLS INCLUDING SCHOLARMATCHER, AN ONLINE COLLEGE SEARCH ENGINE DESIGNED SPECIFICALLY FOR LOW-INCOME AND FIRST-GENERATION STUDENTS.[SEE SCHEDULE O FOR CONTINUATION]WHILE SCHOLARMATCH PREVIOUSLY HOSTED STUDENTS AND COACHES AT DROP-IN CENTERS IN LOS ANGELES' BOYLE HEIGHTS NEIGHBORHOOD, AND SAN FRANCISCO'S MISSION DISTRICT AS WELL AS VIRTUALLY THROUGH A PARTNERSHIP WITH BLOOMBERG PHILANTHROPIES' COLLEGEPOINT INITIATIVE, ALL PROGRAMMING HAS NOW MOVED TO A FULLY VIRTUAL MODEL. THE DESTINATION COLLEGE PROGRAM SERVED 1,072 HIGH SCHOOL STUDENTS THIS YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charity Espiritu COO | 40 | $135,654 | |
Diana Adamson Executive Director (thru 6/4/21) | Officer | 40 | $108,864 |
Ben Steinberg Chair (thru 12/7/20) | OfficerTrustee | 3 | $0 |
Randie Bencanann Vice Chair (thru 7/19/21) | OfficerTrustee | 0.8 | $0 |
Karen Grace-Baker Director/chair (eff. 12/31/20) | OfficerTrustee | 3 | $0 |
Jaime Huling-Delaye Secretary | OfficerTrustee | 0.8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $504,255 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,947,339 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,451,594 |
| Total Program Service Revenue | $306,820 |
| Investment income | $11,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,551 |
| 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 | $2,786,437 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,510,793 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $165,227 |
| Compensation of current officers, directors, key employees. | $19,827 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,904,076 |
| Pension plan accruals and contributions | $77,777 |
| Other employee benefits | $161,474 |
| Payroll taxes | $167,349 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,529 |
| Fees for services: Accounting | $70,777 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $303,897 |
| Advertising and promotion | $7,583 |
| Office expenses | $33,069 |
| Information technology | $20,601 |
| Royalties | $0 |
| Occupancy | $235,740 |
| Travel | $50,607 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,267 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,789 |
| Insurance | $29,714 |
| All other expenses | $2,144 |
| Total functional expenses | $4,795,413 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $549,195 |
| Savings and temporary cash investments | $2,262,939 |
| Pledges and grants receivable | $2,240,402 |
| 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 | $3,824 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,498 |
| Total assets | $5,074,760 |
| Accounts payable and accrued expenses | $91,031 |
| 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 | $91,031 |
| Net assets without donor restrictions | $1,345,448 |
| Net assets with donor restrictions | $3,638,281 |
| 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 | $5,074,760 |
Grants Awarded
Over the last fiscal year, Scholarmatch Inc has awarded $108,969 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
UC MERCED PURPOSE: Tuition and school fees/Expenses | $18,294 |
Berkeley, CA PURPOSE: Tuition and school fees/Expenses | $17,410 |
Davis, CA PURPOSE: Tuition and school fees/Expenses | $11,814 |
CSU SAN FRANCISCO PURPOSE: Tuition and school fees/Expenses | $11,497 |
Santa Cruz, CA PURPOSE: Tuition and school fees/Expenses | $9,668 |
San Jose, CA PURPOSE: Tuition and school fees/Expenses | $8,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Scholarmatch Inc has recieved totaling $27,500.
| Awarding Organization | Amount |
|---|---|
Isabel Allende Foundation Sausalito, CA PURPOSE: EDUCATION | $27,500 |
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 |