Carson Scholars Fund Inc
- Assets
- $16.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 13
- Location
- Towson, MD
- Founding
- 06/1994
- Data as of
- 06/2022
- 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 06/2022, Carson Scholars Fund Inc employed 13 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 06/2022, Carson Scholars Fund Inc generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 years. 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
2022
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 10,500 SCHOLARSHIPS (REPRESENTING 9,857 STUDENTS) IN ALL FIFTY STATES AND WASHINGTON, DC. OVER 820 COLLEGES AND UNIVERSITIES HAVE (OR HAD) CARSON SCHOLARS. THE CARSON SCHOLARS FUND HAS AN ALUMNI NETWORK OF OVER 8,000 (SCHOLARS OLD ENOUGH TO HAVE GRADUATED FROM HIGH SCHOOL). OVER 6,000 SCHOLARS HAVE USED AT LEAST PART OF THEIR SCHOLARSHIP. MORE THAN $8,000,000 HAS BEEN PAID OUT ON BEHALF OF OUR SCHOLARS. IN 2022, A TOTAL OF 1,350 (547 NEW SCHOLARS AND 803 PREVIOUS SCHOLARS) WERE HONORED AT REGIONAL AWARDS CEREMONIES. AS OF 2022, THERE ARE MORE THAN 4,000 SCHOLARS WHO HAVE BEEN RECOGNIZED BY THE CARSON SCHOLARS FUND MULTIPLE TIMES.
READING ROOMS: THE BEN CARSON READING PROJECT HAS ESTABLISHED 257 BEN CARSON READING ROOM AND SERVES STUDENTS IN 23 STATES AND WASHINGTON, DC. SINCE ITS INCEPTION IN 2000, THE PROJECT HAS DISPERSED APPROXIMATELY 3.6 MILLION DOLLARS TO SCHOOLS TO CREATE READING OASES. OVER 128,500 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 |
|---|---|---|---|
Amy Warner Executive Director | Officer | 35 | $150,000 |
Lee Warner Chairman | OfficerTrustee | 3 | $0 |
Graylin E Smith Treasurer | OfficerTrustee | 3 | $0 |
Benjamin Carson Jr Secretary | OfficerTrustee | 3 | $0 |
Wes Guckert Vice President | OfficerTrustee | 3 | $0 |
Nancy Grasmick President | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $79,257 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,010,921 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,090,178 |
| Total Program Service Revenue | $65,184 |
| Investment income | $193,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $316,624 |
| Net Income from Fundraising Events | -$19,387 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,819 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,756,634 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $547,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $172,223 |
| Compensation of current officers, directors, key employees. | $34,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $465,021 |
| Pension plan accruals and contributions | $36,056 |
| Other employee benefits | $16,381 |
| Payroll taxes | $42,334 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40 |
| Fees for services: Accounting | $26,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $600 |
| Advertising and promotion | $15,758 |
| Office expenses | $42,973 |
| Information technology | $49,552 |
| Royalties | $0 |
| Occupancy | $47,168 |
| Travel | $12,316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,666 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,545 |
| All other expenses | $4,828 |
| Total functional expenses | $1,882,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,107,412 |
| Savings and temporary cash investments | $1,693,558 |
| Pledges and grants receivable | $1,742,126 |
| 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 | $44,278 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,401,964 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $561,650 |
| Total assets | $16,550,988 |
| Accounts payable and accrued expenses | $43,462 |
| Grants payable | $3,622,702 |
| 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 | $123,322 |
| Total liabilities | $3,789,486 |
| Net assets without donor restrictions | $4,176,558 |
| Net assets with donor restrictions | $8,584,944 |
| 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 | $16,550,988 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carson Scholars Fund Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Louis And Phyllis Friedman Foundation Inc Towson, MD PURPOSE: 2022 SCHOLARSHIP AWARDS RECOGNITION | $10,000 |
Endowment Analysis
| Beg. Balance | $3,537,265 |
| Earnings | -$179,381 |
| Net Contributions | $157,118 |
| Grants | $135,000 |
| Ending Balance | $3,380,002 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
District Of Columbia College Access Program Washington, DC | $105,959,870 | $18,161,486 |
Asian And Pacific Islander American Scholarship Fund Washington, DC | $37,686,826 | $13,616,717 |
Children Scholarship Fund Philadelphia Philadelphia, PA | $24,817,690 | $13,351,193 |
Foundation For Jewish Day Schools Of Greater Philadelphia Philadelphia, PA | $5,671,351 | $11,978,701 |
James Annenberg La Vea Charitable Foundation Philadelphia, PA | $176,224,277 | $5,500,392 |