Black Student Fund
- Assets
- $212.8k
- Revenue
- $448.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 07/1964
- Data as of
- 06/2022
- EIN
- 52-6053597
Organization Overview
Black Student Fund, operating under the name The Black Student Fund, is located in Washington, DC. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black Student Fund 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, Black Student Fund generated $448.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.9% each year . All expenses for the organization totaled $347.2k during the year ending 06/2022. While expenses have increased by 15.1% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE BLACK STUDENT FUND (BSF) PROVIDES ESSENTIAL ADVOCACY, ACADEMIC AND RETENTION SUPPORT TO ACADEMICALLY MOTIVATED AFRICAN AMERICAN AND OTHER UNDERSERVED STUDENTS TO FACILITATE THEIR ACCESS, ADMISSION AND SUCCESSFUL MATRICULATION AND GRADUATION FROM MEMBER SCHOOLS. BSF PARTNERS WITH MEMBER SCHOOLS TO PROVIDE FINANCIAL ASSISTANCE, AS WELL AS INSTRUCTION, EVALUATIONS, FEEDBACK AND MONITORING NECESSARY TO FACILITATE THE CREATION AND MAINTENANCE OF A SUPPORTIVE AND RESPONSIVE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR MORE THAN FIFTY YEARS, BSF HAS PROVIDED FINANCIAL SUPPORT FOR FAMILIES AT BSF MEMBER SCHOOLS. BSF PROVIDES SMALL TUITION SCHOLARSHIPS, FUNDING FOR PARTICIPATION IN SUMMER AND SCHOOL YEAR ACADEMIC ENRICHMENT, YOUTH DEVELOPMENT PROGRAM/ACTIVITIES AND BSF PROVIDES EMERGENCY AND ESSENTIAL SERVICES FINANCIAL SUPPORT TO BSF FAMILIES
ENGAGED SCHOLARS WITH TUTORING AND EXPOSURE TO CULTURAL EVENTS
THE BSF/LSF ANNUAL SCHOOL FAIR IS A FORUM FOR WASHINGTON METROPOLITAN AREA FAMILIES TO LEARN ABOUT INDEPENDENT SCHOOL EDUCATION AND TO ENGAGE STUDENTS, TEACHERS AND ADMINISTRATORS FROM MORE THAN 70 LOCAL AND NATIONAL INDEPENDENT SCHOOLS AND EDUCATIONAL PROGRAMS. THIS EVENT ALSO INCLUDES: WORKSHOPS, CHAT ROOMS, RECORDED CONTENT AND A DIGITAL RESOURCES LIBRARY. THE EVENT SERVED MORE THAN 1200 FAMILIES AND INCLUDED MORE THAN 50 SCHOOLS AND EDUCATIONAL ORGANIZATIONS
BSF SCIENCE, TECHNOLOGY, ENGINEERING & MATH (STEM) IS A FOCUSED ACADEMIC ENRICHMENT EFFORT OF BSF. BSF STEM IS A SERIES OF CONNECTED PROGRAMS AND ACTIVITIES PROVIDING STUDENTS WITH INTRODUCTORY AND ADVANCED STEM LEARNING. WITH AN ANCHOR IN MATH AND CODING, BSF SCHOLARS AND AFFILIATES PARTICIPATE IN YEARLONG OUT OF SCHOOL LEARNING; TECH SKILL DEVELOPMENT AND STEM AWARENESS EVENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leroy Nesbitt Jr Executive Director | OfficerTrustee | 64 | $60,000 |
Joel Kanter Board Chair | OfficerTrustee | 2 | $0 |
Richard Snowdon Trustee | OfficerTrustee | 1 | $0 |
Jeanie Carr Trustee | Trustee | 1 | $0 |
Hon John Chapman Trustee | Trustee | 1 | $0 |
Dwight Franklin Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $407,006 |
| Investment income | $82 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,777 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $448,097 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $10,178 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $60,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,646 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,602 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,879 |
| Advertising and promotion | $4,021 |
| Office expenses | $5,756 |
| Information technology | $21,131 |
| Royalties | $0 |
| Occupancy | $57,387 |
| 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 | $575 |
| Insurance | $6,375 |
| All other expenses | $0 |
| Total functional expenses | $347,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,242 |
| Savings and temporary cash investments | $50,533 |
| 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 |
| Investments—publicly traded securities | $4,169 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,244 |
| Total assets | $212,837 |
| 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 | $2,292 |
| Total liabilities | $2,292 |
| Net assets without donor restrictions | $206,376 |
| Net assets with donor restrictions | $4,169 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $210,545 |