Children Scholarship Fund Philadelphia
- Assets
- $24.8m
- Revenue
- $13.4m
- Investments
- $0.0
- Employees
- 16
- Location
- Philadelphia, PA
- Founding
- 06/2001
- Data as of
- 12/2021
- EIN
- 23-3078729
Organization Overview
Children Scholarship Fund Philadelphia is located in Philadelphia, PA. The organization was established in 2001. 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 12/2021, Children Scholarship Fund Philadelphia employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Children Scholarship Fund Philadelphia 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 12/2021, Children Scholarship Fund Philadelphia generated $13.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.4% each year . All expenses for the organization totaled $12.2m during the year ending 12/2021. While expenses have increased by 2.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WITH OVER 20 YEARS OF EXPERIENCE AND OVER 28,500 SCHOLARSHIPS AWARDED, CSFP PROVIDES PHILADELPHIA CHILDREN WITH FOUR-YEAR, NEEDS-BASED SCHOLARSHIPS TO ATTEND SAFE, QUALITY, K-8TH GRADE SCHOOLS. SUPPORTING LOW-INCOME CHILDREN AND FAMILIES, UP TO 3 CHILDREN IN A FAMILY MAY RECEIVE A SCHOLARSHIP. STUDENTS ARE SELECTED FROM A RANDOM, NEEDS BASED LOTTERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WITH OVER 20 YEARS OF EXPERIENCE AND OVER 28,500 SCHOLARSHIPS AWARDED, CSFP PROVIDES PHILADELPHIA CHILDREN WITH FOUR-YEAR, NEEDS-BASED SCHOLARSHIPS TO ATTEND SAFE, QUALITY, K-8TH GRADE SCHOOLS. SUPPORTING LOW-INCOME CHILDREN AND FAMILIES, UP TO 3 CHILDREN IN A FAMILY MAY RECEIVE A SCHOLARSHIP. STUDENTS ARE SELECTED FROM A RANDOM, NEEDS BASED LOTTERY.
SCHOLARSHIP AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keisha Jordan Executive Di | Officer | 40 | $211,061 |
Sharmain Matlock-Turner Secretary | OfficerTrustee | 1 | $0 |
Patrick Burke Chair | OfficerTrustee | 1 | $0 |
Steve Kapp Treasurer | OfficerTrustee | 1 | $0 |
Shelly L Boyce Vice Chair | OfficerTrustee | 1 | $0 |
Evie Mcniff Director | Trustee | $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 | $12,657,055 |
| Noncash contributions included in lines 1a–1f | $51,180 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,657,055 |
| Total Program Service Revenue | $98,447 |
| Investment income | $120,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $128,445 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,351,193 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,433,356 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $211,061 |
| Compensation of current officers, directors, key employees. | $73,871 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $978,011 |
| Pension plan accruals and contributions | $23,100 |
| Other employee benefits | $27,712 |
| Payroll taxes | $54,029 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,853 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $73,360 |
| Office expenses | $32,310 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,085 |
| Travel | $3,280 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,550 |
| All other expenses | $43,690 |
| Total functional expenses | $12,225,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,166,890 |
| Savings and temporary cash investments | $13,841,144 |
| Pledges and grants receivable | $997,463 |
| Accounts receivable, net | $352,636 |
| 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 | $11,212 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,445,570 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,775 |
| Total assets | $24,817,690 |
| Accounts payable and accrued expenses | $123,624 |
| 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 | $536,131 |
| Total liabilities | $659,755 |
| Net assets without donor restrictions | $1,908,929 |
| Net assets with donor restrictions | $22,249,006 |
| 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 | $24,817,690 |
Grants Recieved
Over the last fiscal year, we have identified 35 grants that Children Scholarship Fund Philadelphia has recieved totaling $8,063,115.
| Awarding Organization | Amount |
|---|---|
Susquehanna Foundation Bala Cynwyd, PA PURPOSE: GENERAL FUND | $3,000,000 |
Susquehanna Foundation Bala Cynwyd, PA PURPOSE: GENERAL FUND | $3,000,000 |
Connelly Foundation West Conshohocken, PA PURPOSE: AOP HIGH SCHOOL TRANSFER GRANTS | $713,000 |
Connelly Foundation West Conshohocken, PA PURPOSE: PROGRAM AMBASSADOR INITIATIVE | $250,000 |
The Childrens Scholarship Fund New York, NY PURPOSE: To provide partial scholarship awards to children from low-income families | $236,953 |
Connelly Foundation West Conshohocken, PA PURPOSE: AOP HIGH SCHOOL TRANSFER GRANTS | $174,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |