Hispanic Scholarship Fund
- Assets
- $141.4m
- Revenue
- $86.6m
- Investments
- $639.5k
- Employees
- 57
- Location
- Gardena, CA
- Founding
- 01/1976
- Data as of
- 03/2021
- EIN
- 52-1051044
Organization Overview
Hispanic Scholarship Fund is located in Gardena, CA. The organization was established in 1976. 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 03/2021, Hispanic Scholarship Fund employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 03/2021, Hispanic Scholarship Fund generated $86.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $36.5m during the year ending 03/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Hispanic Scholarship Fund has awarded 251 individual grants totaling $34,164,178. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
HISPANIC SCHOLARSHIP FUND AWARDS SCHOLARSHIPS TO OUTSTANDING HISPANIC STUDENTS IN THE UNITED STATES, PUERTO RICO AND UNITED STATES VIRGIN ISLANDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - THE FUND ADMINISTERS SCHOLARSHIPS FUNDED BY DONATIONS FROM FOUNDATIONS,CORPORATIONS AND INDIVIDUALS.
SUPPORT SERVICES - THE FUND PROVIDES FREE BILINGUAL, TWO HOUR AND HALF DAY, COLLEGE PREPARATION PROGRAMS HELD IN VARIOUS CITIES ACROSS THE COUNTRY,DESIGNED TO HELP MIDDLE AND HIGH SCHOOL STUDENTS AND THEIR PARENTS PREPARE, PLAN, AND PAY FOR COLLEGE. ADDITIONAL MULTIDAY PROGRAMS FOR SELECTED HSF SCHOLARS PROVIDE LEADERSHIP TRAINING, NETWORKING, PROFESSIONAL DEVELOPMENT AND OPPORTUNITIES TO INTERVIEW FOR INTERNSHIPS AND FULL-TIME EMPLOYMENT POSITIONS. IN ADDITION, THROUGH ITS ONLINE PORTAL, HSF PROVIDES FREE INFORMATION AND RESOURCES TO VISITORS, INCLUDING POTENTIAL SCHOLARSHIP APPLICANTS AND THEIR PARENTS, CURRENT SCHOLARS, AND ALUMNI, ON A RANGE OF TOPICS RELATED TO COLLEGE AND THE TRANSITION FROM COLLEGE TO PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fidel A Vargas President & CEO | OfficerTrustee | 40 | $470,050 |
Julie Hite Chief Operating Officer | OfficerTrustee | 40 | $293,954 |
Ruano Araceli Chief Administrative Officer And Gc | OfficerTrustee | 40 | $242,300 |
Victoria Hardy Senior Vp, Finance & Accounting | Officer | 40 | $194,556 |
Tammy Schlegel Senior Vp, Project Management | Officer | 40 | $164,401 |
Daniel Edeza Senior Vp, Scholarship Programs | Officer | 40 | $161,282 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Boston Consulting Group Inc Consulting Project Mgmt | 3/30/21 | $2,400,000 |
Mission Cloud Services Inc Web Hosting Fees & Support | 3/30/21 | $175,534 |
Amazoncom Web Hosting & Tech Equipment | 3/30/21 | $255,064 |
Redstone La I Llc Lease Expense | 3/30/21 | $597,463 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $100,000 |
| Related organizations | $0 |
| Government grants | $1,081,192 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,816,734 |
| Noncash contributions included in lines 1a–1f | $37,607 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,997,926 |
| Total Program Service Revenue | $0 |
| Investment income | $1,481,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,211,377 |
| Net Income from Fundraising Events | -$77,712 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,613,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,644,022 |
| Grants and other assistance to domestic individuals. | $19,404,185 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,067,073 |
| Compensation of current officers, directors, key employees. | $31,006 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,489,685 |
| Pension plan accruals and contributions | $150,507 |
| Other employee benefits | $742,722 |
| Payroll taxes | $377,654 |
| Fees for services: Management | $216,722 |
| Fees for services: Legal | $40,817 |
| Fees for services: Accounting | $51,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,612 |
| Fees for services: Other | $1,145,685 |
| Advertising and promotion | $255,277 |
| Office expenses | $1,187,976 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $697,854 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,113 |
| Interest | $114,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $647,529 |
| Insurance | $72,620 |
| All other expenses | $0 |
| Total functional expenses | $36,529,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,204,550 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,706,678 |
| 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 | $1,526,589 |
| Net Land, buildings, and equipment | $10,962,106 |
| Investments—publicly traded securities | $88,322,591 |
| Investments—other securities | $639,539 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $141,362,053 |
| Accounts payable and accrued expenses | $1,144,144 |
| Grants payable | $413,082 |
| 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 | $22,131,843 |
| Total liabilities | $23,689,069 |
| Net assets without donor restrictions | $59,730,336 |
| Net assets with donor restrictions | $57,942,648 |
| 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 | $141,362,053 |
Grants Awarded
Over the last fiscal year, Hispanic Scholarship Fund has awarded $5,587,706 in support to 105 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: TO PROVIDE SCHOLARSHIPS FOR STUDENTS | $427,677 |
Redwood City, CA PURPOSE: TO PROVIDE SCHOLARSHIPS FOR STUDENTS | $423,214 |
THE UNIVERSITY OF TEXAS AT AUSTIN PURPOSE: TO PROVIDE SCHOLARSHIPS FOR STUDENTS | $237,226 |
Cambridge, MA PURPOSE: TO PROVIDE SCHOLARSHIPS FOR STUDENTS | $232,765 |
New York, NY PURPOSE: TO PROVIDE SCHOLARSHIPS FOR STUDENTS | $224,319 |
Los Angeles, CA PURPOSE: TO PROVIDE SCHOLARSHIPS FOR STUDENTS | $213,597 |
Grants Recieved
Over the last fiscal year, we have identified 31 grants that Hispanic Scholarship Fund has recieved totaling $23,230,433.
| Awarding Organization | Amount |
|---|---|
United Negro College Fund Inc Washington, DC PURPOSE: GRANTS & SCHOLARSHIPS | $16,852,484 |
Lilly Endowment Inc Indianapolis, IN PURPOSE: HISPANIC CAREER PATHWAYS INITIATIVE | $5,000,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $375,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $375,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $250,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $250,000 |
Endowment Analysis
| Beg. Balance | $16,758,939 |
| Earnings | $4,114,626 |
| Net Contributions | $3,000 |
| Other Expense | $872,185 |
| Ending Balance | $20,004,380 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Schmidt Family Foundation Palo Alto, CA | $1,422,701,500 | $287,138,537 |
Hispanic Scholarship Fund Gardena, CA | $141,362,053 | $86,613,000 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $5,138,444 | $37,232,277 |
Mcconnell Foundation Redding, CA | $356,797,559 | $34,335,188 |
Business For Social Responsibility San Francisco, CA | $18,373,333 | $30,858,266 |
College Track Oakland, CA | $58,821,566 | $30,456,091 |
Making Waves Foundation Inc Richmond, CA | $246,870,428 | $34,390,390 |
Charles And Helen Schwab Foundation San Francisco, CA | $447,745,348 | $11,212,915 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $26,803,865 | $22,913,031 |
Catholic Education Arizona Phoenix, AZ | $25,897,142 | $21,523,181 |
Arizona Tuition Connection Inc Scottsdale, AZ | $27,939,156 | $24,927,577 |