Scholars First
- Assets
- $0.0
- Revenue
- $57.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Irvine, CA
- Founding
- 05/2013
- Data as of
- 12/2019
- EIN
- 46-1791857
Organization Overview
Scholars First is located in Irvine, CA. The organization was established in 2013. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. Scholars First 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 12/2019, Scholars First generated $57.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (34.0%) each year. All expenses for the organization totaled $217.3k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SCHOLARS FIRST IS TO ENABLE WORTHY CHILDREN, ESPECIALLY THOSE AT-RISK AND (CON SCH O) DISADVANTAGED, TO OBTAIN THE EDUCATION THEY NEED IN ORDER TO BECOME INDEPENDENT, PRODUCTIVE AND CONTRIBUTING MEMBERS OF SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE INCEPTION, FIRST FOUNDATION HAS GENEROUSLY PROVIDED TWO EMPLOYEES AND RESOURCES TO ADMINISTER THE SCHOLARSHIP PROGRAM. THE FIRM MADE A MANAGEMENT DECISION TO REDIRECT ASSETS TO PROGRAMS THAT PROVIDE OPPORTUNITIES WITH NONPROFITS IN OUR COMMUNITIES TO ENGAGE MORE EMPLOYEES. AS A RESULT, THE SCHOLARS FIRST BOARD VOTED TO CONTINUE THE SCHOLARSHIPS BUT UNDER NEW MANAGEMENT.DURING THE 2019 YEAR, SCHOLARS FIRST DIRECTLY FUNDED 18 SCHOLARSHIPS. THE BOARD OF DIRECTORS APPROVED DISTRIBUTION OF ASSETS TO CONTINUE THE SCHOLARSHIPS AT THE FOLLOWING PUBLIC CHARITIES (CON SCH O):1) GLEN DOHERTY MEMORIAL FOUNDATION2) ORANGEWOOD FOUNDATION3) DESERT COMMUNITY FOUNDATION.SEE SCHEDULE N FOR MORE DETAILS.IN ADDITION, NOBBS FAMILY FOUNDATION, A PRIVATE FOUNDATION WHO HAS BEEN A DONOR TO SCHOLARS FIRST WILL CONTINUE THE SCHOLARSHIP PROGRAM IN WHICH THEY HAVE IRS APPROVAL TO CARRY OUT SUCH A PROGRAM.SCHOLARS FIRST HAS PROUDLY FUNDED APPROXIMATELY 280 STUDENT SCHOLARSHIPS SINCE INCEPTION TOTALING NEARLY $1,500,000.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheri Borax Director | Trustee | 0.1 | $0 |
Donald Dahl Director | Trustee | 0.1 | $0 |
Douglas Freeman Chairman | OfficerTrustee | 0.2 | $0 |
Pamela Cohen Secretary & Treasurer | OfficerTrustee | 0.25 | $0 |
Cheryl H Dean Director | Trustee | 0.1 | $0 |
Lisa Rumbaugh Director | Trustee | 0.1 | $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 | $38,713 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,713 |
| Total Program Service Revenue | $0 |
| Investment income | $13,102 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,529 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,344 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $160,561 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,933 |
| Fees for services: Accounting | $6,697 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,196 |
| Fees for services: Other | $36,791 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $217,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |