The Central Scholarship Bureau Inc

Organization Overview

The Central Scholarship Bureau Inc, operating under the name Central Scholarship, is located in Owings Mills, MD. The organization was established in 1952. 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 06/2021, Central Scholarship employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Scholarship 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 06/2021, Central Scholarship generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. While expenses have increased by 0.0% 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO HELP MARYLANDERS FULFILL THEIR DREAMS OF PURSUING HIGHER EDUCATIONBY MAKING HIGHER EDUCATION MORE AFFORDABLE.

Describe the Organization's Program Activity:

CENTRAL SCHOLARSHIP (CS) PROVIDES NEED-BASED SCHOLARSHIPS FOR HIGH-PERFORMING STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL DEGREES. FOR MOST PROGRAMS, STUDENTS ARE ELIGIBLE FOR UP TO $11,000 PER YEAR IN ASSISTANCE FOR POST-SECONDARY EDUCATION. DURING THE FISCAL YEAR ENDED JUNE 30, 2021, CS PROCESSED NEARLY 1,105 APPLICATIONS AND AWARDED 233 SCHOLARSHIPS TO STUDENTS.(EMERGENCY GRANTS) CS PROVIDES STUDENTS ALREADY RECEIVING EDUCATION FUNDING FOR DEGREE PROGRAMS WITH EMERGENCY GRANTS FOR NON-EDUCATION EXPENSES. EXAMPLES OF SUCH EXPENSES INCLUDE MEDICAL BILLS, TRANSPORTATION EMERGENCIES, OR REPLACEMENT OF ESSENTIAL BELONGINGS AFTER THEFT OR FIRE. DURING THE FISCAL YEAR ENDING ON JUNE 30, 2021, CS MADE EMERGENCY GRANTS TO 39 STUDENTS TOTALING $40,257.


INTEREST-FREE LOANS ARE AWARDED TO STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOL DEGREES WHO QUALIFY BASED ON FINANCIAL NEED AND ACADEMIC PERFORMANCE. STUDENTS ARE ELIGIBLE FOR UP TO $10,000 PER YEAR IN ASSISTANCE FOR POST-SECONDARY EDUCATION. NEW LOANS OF $195,000 WERE AWARDED TO 38 STUDENTS IN THE FISCAL YEAR ENDING JUNE 30, 2021. CENTRAL SCHOLARSHIP (CS) ALSO MANAGED EXISTING LOANS OF APPROXIMATELY $1,800,000 FOR MORE THAN 400 STUDENTS.


CAREER-TRAINING SCHOLARSHIPS ARE AVAILABLE FOR FIELDS WHERE THERE IS A VERIFIED WORKFORCE DEMAND, AN OPPORTUNITY TO EARN A LIVING WAGE, RECOGNIZED CREDENTIALS UPON PROGRAM COMPLETION AND A PATH FOR CAREER ADVANCEMENT. STUDENTS ARE QUALIFIED BASED ON FINANCIAL NEED, WITH PREFERENCE GIVEN TO BALTIMORE CITY RESIDENTS. DURING THE FISCAL YEAR ENDING ON JUNE 30, 2021, CS AWARDED CAREER-TRAINING SCHOLARSHIPS TO 46 STUDENTS.


COLLEGE CASH IS A FINANCIAL EDUCATION SERIES OFFERED AS A FREE PUBLIC SERVICE THAT HELPS STUDENTS AND PARENTS NAVIGATE THE COMPLEX FINANCIAL OPTIONS AVAILABLE TO COLLEGE-BOUND STUDENTS. THE GOAL IS TO ENSURE THAT STUDENTS AND PARENTS ARE MAKING INFORMED FINANCIAL CHOICES WHEN SELECTING A COLLEGE. THE ADVOCACY PROGRAM CONTINUES TO FOCUS ON SCHOLARSHIP AWARD DISPLACEMENT, WHICH HAPPENS WHEN COLLEGES REDUCE THEIR INSTITUTIONAL SCHOLARSHIP AFTER A STUDENT RECEIVES A PRIVATE SCHOLARSHIP. CS HAS SIGNED AGREEMENTS WITH 13 PRIVATE COLLEGES IN MARYLAND WHO AGREED NOT TO DISPLACE PRIVATE SCHOLARSHIPS ISSUED BY CENTRAL SCHOLARSHIP.


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Board, Officers & Key Employees

Name (title)Compensation
Jan Wagner
President Through March, 2021
$126,639
Russ Causey
Board Chair
$0
Tim Redmond
Treasurer
$0
Peggy Heller
Secretary
$0
Tierra A Dorsey
President Since March, 2021
$0
David Rothschild
2nd Vice Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $152,200
All other contributions, gifts, grants, and similar amounts not included above$1,174,712
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,326,912
Total Program Service Revenue$0
Investment income $114,001
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $400,742
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,887,569

Grants Recieved

Over the last fiscal year, we have identified 11 grants that The Central Scholarship Bureau Inc has recieved totaling $423,638.

Awarding OrganizationAmount
Associated Jewish Charities Of Baltimore

Baltimore, MD

PURPOSE: GENERAL SUPPORT

$154,542
The Kenneth S Battye Charitable Trust

Lutherville Timonium, MD

PURPOSE: TO FURTHER THE EXEMPT PURPOSE

$100,000
Crane Family Foundation Inc

Baltimore, MD

PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION

$90,000
Network For Good Inc

Washington, DC

PURPOSE: UNRESTRICTED

$46,409
Henry And Ruth Blaustein Rosenberg Foundation

Baltimore, MD

PURPOSE: SUPPORT FOR CAREER TRAINING SCHOLARSHIPS

$10,000
Whiteford Taylor & Preston Charitable Tr

Baltimore, MD

PURPOSE: CONTINUING OPERATIONS

$8,167
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$6,159,635
Net Contributions$1,784,123
Ending Balance$7,943,758

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