Carson Scholars Fund Inc
- Assets
- $16.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 14
- Location
- Towson, MD
- Founding
- 06/1994
- Data as of
- 06/2024
- EIN
- 52-1851346
Organization Overview
Carson Scholars Fund Inc is located in Towson, MD. The organization was established in 1994. 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 06/2024, Carson Scholars Fund Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carson Scholars Fund 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 06/2024, Carson Scholars Fund Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND RECOGNIZES AND REWARDS PROMISING STUDENTS IN GRADES 4-11 WITH SCHOLARSHIPS TO COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: THE CARSON SCHOLARS FUND HAS AWARDED MORE THAN 11,600 SCHOLARSHIPS (REPRESENTING 10,909 STUDENTS) IN ALL FIFTY STATES AND WASHINGTON, DC. OVER 895 COLLEGES AND UNIVERSITIES HAVE (OR HAD) CARSON SCHOLARS. THE CARSON SCHOLARS FUND HAS AN ALUMNI NETWORK OF OVER 9,550 (SCHOLARS OLD ENOUGH TO HAVE GRADUATED FROM HIGH SCHOOL). OVER 7,300 SCHOLARS HAVE USED AT LEAST PART OF THEIR SCHOLARSHIP. MORE THAN $10,000,000 HAS BEEN PAID OUT ON BEHALF OF OUR SCHOLARS. IN 2024, A TOTAL OF 1,506 (570 NEW SCHOLARS AND 936 PREVIOUS SCHOLARS) WERE HONORED AT REGIONAL AWARDS CEREMONIES. AS OF 2024, THERE ARE MORE THAN 5,300 SCHOLARS WHO HAVE BEEN RECOGNIZED BY THE CARSON SCHOLARS FUND MULTIPLE TIMES.
READING ROOMS: THE BEN CARSON READING PROJECT HAS ESTABLISHED 286 BEN CARSON READING ROOM AND SERVES STUDENTS IN 23 STATES AND WASHINGTON, DC. SINCE ITS INCEPTION IN 2000, THE PROJECT HAS DISPERSED APPROXIMATELY 4 MILLION DOLLARS TO SCHOOLS TO CREATE READING OASES. OVER 143,500 HIGH-INTEREST BOOKS HAVE BEEN MADE AVAILABLE IN READING ROOM SCHOOLS, INSPIRING STUDENTS TO REACH THEIR FULL LITERACY POTENTIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Ben Carson Co-Founder/board Member | Trustee | 5 | $0 |
Candy Carson Co-Founder/executive Secretary | OfficerTrustee | 5 | $0 |
Lee Warner Chairman | OfficerTrustee | 3 | $0 |
Nancy Grasmick President | OfficerTrustee | 3 | $0 |
Wes Guckert Vice President | OfficerTrustee | 3 | $0 |
Graylin Smith Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $101,147 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,060,210 |
| Noncash contributions included in lines 1a–1f | $134,852 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,161,357 |
| Total Program Service Revenue | $132,115 |
| Investment income | $390,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $205,359 |
| Net Income from Fundraising Events | -$7,138 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,741 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,980,697 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $616,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $283,931 |
| Compensation of current officers, directors, key employees. | $56,786 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,261 |
| Pension plan accruals and contributions | $65,483 |
| Other employee benefits | $22,382 |
| Payroll taxes | $58,856 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $138 |
| Fees for services: Accounting | $39,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,310 |
| Office expenses | $47,518 |
| Information technology | $53,770 |
| Royalties | $0 |
| Occupancy | $73,334 |
| Travel | $17,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,214 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,595 |
| All other expenses | $12,225 |
| Total functional expenses | $2,314,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,042,922 |
| Savings and temporary cash investments | $934,392 |
| Pledges and grants receivable | $1,244,626 |
| 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 | $42,270 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,524,188 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $587,654 |
| Total assets | $16,376,052 |
| Accounts payable and accrued expenses | $42,564 |
| Grants payable | $3,354,247 |
| 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 | $14,436 |
| Total liabilities | $3,411,247 |
| Net assets without donor restrictions | $4,587,570 |
| Net assets with donor restrictions | $8,377,235 |
| 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 | $16,376,052 |