Inner-City Scholarship Fund Inc

Organization Overview

Inner-City Scholarship Fund Inc is located in New York, NY. The organization was established in 1946. 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 08/2021, Inner-City Scholarship Fund Inc employed 31 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Inner-City Scholarship 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 08/2021, Inner-City Scholarship Fund Inc generated $24.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $20.1m during the year ending 08/2021. While expenses have increased by 2.5% per year over the past 6 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, Inner-City Scholarship Fund Inc has awarded 693 individual grants totaling $114,605,474. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE CHILDREN WITH A QUALITY, VALUES-BASED K-12 CATHOLIC EDUCATION WITHIN THE ARCHDIOCESE OF NY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

BE A STUDENT'S FRIEND - THIS PROGRAM MATCHES A SPONSOR WITH ANINDIVIDUAL STUDENT WHO IS CURRENTLY ATTENDING AN ICSF SCHOOL ANDWHOSE FAMILIES ARE MOST IN NEED OF FINANCIAL ASSISTANCE. EACHSPONSOR CONTRIBUTES A FIXED AMOUNT PER YEAR AND HAS THE OPTION TOSPONSOR THE SAME STUDENT UNTIL HE/SHE GRADUATES FROM HIGH SCHOOL.


CARDINAL SCHOLARSHIP FUND - THIS INITIATIVE PROVIDES FINANCIALASSISTANCE TO THOSE IN PUBLIC SCHOOL LOOKING TO ENROLL AT ANINNER-CITY SCHOOL. DEPENDING ON THE FINANCIAL NEED OF THE FAMILY,THESE SCHOLARSHIPS COVER UP TO 75% OF THE SUBSIDIZED TUITION.


FINANCIAL AID GRANTS - GRANT PROGRAM PROVIDES UNRESTRICTED FUNDSTO INNER CITY SCHOOLS TO USE WHERE THE STUDENTS AND/OR THE SCHOOLNEED IT MOST. THIS COULD BE FOR STUDENT SCHOLARSHIPS, ENRICHMENTOPPORTUNITIES, CAPITAL REPAIRS OR GENERAL OPERATIONS.


ENRICHMENT PROGRAM - THIS PROGRAM GIVES HIGH SCHOOL JUNIORS AN OPPORTUNITY TO GAIN EXPERIENCE IN A BUSINESS SETTING THROUGH JOB-RELATED WORKSHOPS AND PAID SUMMER INTERNSHIPS AT MANY NEW YORK PRESTIGIOUS COMPANIES AND ORGANIZATIONS. JUNIOR COMMITTEE PROVIDES HANDS-ON SUPPORT TO STUDENTS IN OUR PARTICIPATING SCHOOLS. THEY WORK AND LIVE THROUGHOUT THE TRI-STATE AREA AND THEIR COMMON DESIRE IS TO HELP THE BOYS AND GIRLS OF THE INNER-CITY BY PROVIDING THEM WITH AN ENRICHING EXPERIENCE.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cipriani's
Event Services
$217,797
Faircom New York Inc
Direct Mail
$659,068
Plaza Hotel
Award Dinner
$186,755
Faircom New York Inc
Direct Mail
$659,068
Cipriani's
Event Services
$217,797
Plaza Hotel
Award Dinner
$186,755
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$2,447,848
Related organizations$0
Government grants $403,418
All other contributions, gifts, grants, and similar amounts not included above$18,627,763
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$21,479,029
Total Program Service Revenue$0
Investment income $67,231
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $3,279,572
Net Income from Fundraising Events -$74,798
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $24,751,034

Grants Awarded

Over the last fiscal year, Inner-City Scholarship Fund Inc has awarded $16,205,026 in support to 82 organizations.

Grant RecipientAmount

New York, NY

PURPOSE: FINANCIAL AID GRANT

$4,600,000

CHILDREN'S SCHOLARSHIPS

Org PageRecipient Profile

New York, NY

PURPOSE: FINANCIAL AID GRANT

$3,513,638

CARDINAL SPELLMAN

PURPOSE: FINANCIAL AID GRANT

$683,143

CATHOLIC SCHOOL REGION NORTH WEST SOUTH BRONX

PURPOSE: FINANCIAL AID GRANT

$646,138

STUDENT SPONSOR PROGRAM

Org PageRecipient Profile

New York, NY

PURPOSE: FINANCIAL AID GRANT

$418,350

ALL HALLOWS

PURPOSE: FINANCIAL AID GRANT

$384,204
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Inner-City Scholarship Fund Inc has recieved totaling $111,600.

Awarding OrganizationAmount
Oaklawn Foundation

Wilton, CT

PURPOSE: MULTI YEAR GRANT: $30,000 FOR 2021-2024

$60,000
Oaklawn Foundation

Wilton, CT

PURPOSE: HIGH SCHOOL AWARD PROGRAM AND SCHOLARSHIP; MULTI YEAR GRANTS 3 OF 5 YEARS

$30,000
Ponagansett Foundation Inc

Harrison, NY

PURPOSE: GENERAL SUPPORT

$10,000
Atkinson Family Foundation Inc

Sparta, NJ

PURPOSE: EDUCATION

$6,600
Joyce Charitable Fund

Bedford, NY

PURPOSE: GENERAL OPERATIONS

$4,000
Mccooey Charitable Foundation

Harrison, NY

PURPOSE: GENERAL OPERATING SUPPORT

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$88,269,390
Earnings$14,900,045
Net Contributions$1,732,277
Other Expense$3,252,171
Ending Balance$101,649,541

Peer Organizations

Organization NameAssets
Central Pennsylvania Scholarship Fund
Tyrone, PA
$45,167,381
Arcus Foundation
New York, NY
$35,703,685
Edward P Evans
Andover, MA
$13,916,833
The Childrens Scholarship Fund
New York, NY
$24,710,520
Math For America Inc
New York, NY
$20,036,646
Ja Worldwide Inc
Boston, MA
$21,801,943
The Posse Foundation Inc
New York, NY
$44,739,225
Inner-City Scholarship Fund Inc
New York, NY
$24,751,034
Joan And Irwin Jacobs Technion-Cornell Innovation Instit
New York, NY
$18,316,542
Tikvah Fund
New York, NY
$6,270,985
Cigna Foundation
Philadelphia, PA
$8,084,237
Catholic Schools Foundation Inc
Boston, MA
$27,305,892

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