Baltimore Educational Scholarship Trust Inc
- Assets
- $12.1m
- Revenue
- $1.7m
- Investments
- $11.8m
- Employees
- 17
- Location
- Baltimore, MD
- Founding
- 09/1977
- Data as of
- 06/2022
- EIN
- 52-1072250
Organization Overview
Baltimore Educational Scholarship Trust Inc is located in Baltimore, MD. The organization was established in 1977. 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, Baltimore Educational Scholarship Trust Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baltimore Educational Scholarship Trust 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 06/2022, Baltimore Educational Scholarship Trust Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 0.2% 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.
Since 2015, Baltimore Educational Scholarship Trust Inc has awarded 163 individual grants totaling $4,970,394. 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
THE BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST, IN PARTNERSHIP WITH OUR EIGHTEEN INDEPENDENT MEMBER SCHOOLS, RECRUITS AND SUPPORTS THROUGH THE ADMISSIONS PROCESS ACADEMICALLY AMBITIOUS, AFRICAN AMERICAN STUDENTS WITH FINANCIAL NEED FROM THE BALTIMORE AREA. ONCE STUDENTS ARE ENROLLED, B.E.S.T. POSITIONS THEM FOR SUCCESS THROUGH ACADEMIC PREPARATION, CHARACTER AND LEADERSHIP DEVELOPMENT AND SUPPORT PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE THREE GREATEST ACCOMPLISHMENTS OF THE BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST INCLUDE OUR ADMISSIONS SUPPORT, OUR STUDENT / PARENT PROGRAMS AND OUR FACILITATION OF PRIVATE AND PUBLIC PARTNERSHIPS. IN ADMISSIONS, WE PROVIDE INDIVIDUALIZED ADMISSIONS AND FINANCIAL AID COUNSELING TO APPLICANTS AND THEIR PARENTS. OUR STUDENT AND PARENT PROGRAMS INCLUDE ACADEMIC ENRICHMENT, LEADERSHIP DEVELOPMENT, PARENT NETWORKING AND COLLEGE-BOUND SUPPORT. IN ADDITION, B.E.S.T. BUILDS PARTNERSHIPS AND FACILITATES COLLABORATIONS BETWEEN PRIVATE AND PUBLIC EDUCATIONAL LEADERS THROUGHOUT BALTIMORE. THE TOTALITY OF OUR PROGRAMMATIC WORK SUPPORTS APPLICANT STUDENTS AND PARENTS, ENROLLED STUDENTS AND PARENTS AND THE EDUCATIONAL COMMUNITY IN BALTIMORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Young Karlo G Board President | OfficerTrustee | 4 | $0 |
Collins Tiffani S Board Vice President | OfficerTrustee | 2 | $0 |
Schmick John E Board Second Vice President | OfficerTrustee | 2 | $0 |
Berrier Christopher A Board Secretary | OfficerTrustee | 2 | $0 |
Watson Craig S Board Treasurer | OfficerTrustee | 2 | $0 |
Alexander Teri Trustee | 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 | $815,791 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $815,791 |
| Total Program Service Revenue | $444,381 |
| Investment income | $407,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$650 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,667,462 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $578,181 |
| Grants and other assistance to domestic individuals. | $7,561 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $450,655 |
| Compensation of current officers, directors, key employees. | $96,726 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,183 |
| Pension plan accruals and contributions | $7,834 |
| Other employee benefits | $52,895 |
| Payroll taxes | $45,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $376 |
| Fees for services: Other | $54,829 |
| Advertising and promotion | $0 |
| Office expenses | $31,744 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,371 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,612 |
| Interest | $123 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,975 |
| Insurance | $15,650 |
| All other expenses | $2,760 |
| Total functional expenses | $1,536,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,462 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $130,489 |
| 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 | $8,560 |
| Net Land, buildings, and equipment | $15,143 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,752,587 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,146,241 |
| Accounts payable and accrued expenses | $12,260 |
| Grants payable | $335,632 |
| 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 | $347,892 |
| Net assets without donor restrictions | $1,313,054 |
| Net assets with donor restrictions | $10,485,295 |
| 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 | $12,146,241 |
Grants Awarded
Over the last fiscal year, Baltimore Educational Scholarship Trust Inc has awarded $571,549 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
BRYN MAWR SCHOOL PURPOSE: SHDF, GAP FUNDING GRANTS, PANITZ AWARD SY21 AND SY22 , STUART O. SIMMS' PRES FUND GRANT, FA GIFT | $43,067 |
CALVERT SCHOOL PURPOSE: SHDF,GAP FUNDING GRANTS, FA GIFT | $28,136 |
FRIENDS SCHOOL OF BALTIMORE PURPOSE: SHDF, PANITZ AWARD, EMERGENCY FUND GRANTS, CHICK LORD SCHOLAR, FA GIFT | $51,189 |
GARRISON FOREST SCHOOL PURPOSE: SHDF, GAP FUNDING GRANTS, CHICK LORD SCHOLAR, FA GIFT | $37,776 |
GILMAN SCHOOL PURPOSE: SHDF, GAP FUNDING GRANTS, EMERGENCY FUND GRANT, CHICK LORD SCHOLAR, FA GIFT | $34,410 |
JEMICY SCHOOL PURPOSE: SHDF, STUART O. SIMMS' PRES FUND GRANT, CHICK LORD SCHOLAR, FA GIFT | $30,986 |