Cincinnati Scholarship Foundation

Building a thriving community, one scholarship at a time.

Cincinnati, OH | www.cincinnatischolarshipfoundation.org

GuideStar Charity Check

EIN: 31-0603619

Contributions tax deductible
as of November 2023

IRS BMF 509(a)(1)
as of November 13, 2023

View summary

Charity Check report

Mission

We believe that a higher education should be available to everyone, regardless of financial limitations. Our foundation partners with businesses, foundations and individual donors to provide college scholarships to Greater Cincinnati area students. Since 1989, the Cincinnati Scholarship Foundation has administered $32,000,000 in scholarships to nearly 20,000 area students on behalf of our donors.

Ruling year info

1951

President

Ms. Whitney O'Neal

Main address

324 E. 4th St. 2nd Floor

Cincinnati, OH 45202 USA

Show more contact info

EIN

31-0603619

Subject area info

Education

Population served info

LGBTQ people

Heterosexuals

Women and girls

Men and boys

Ethnic and racial groups

Show more populations served

NTEE code info

Scholarships, Student Financial Aid, Awards (B82)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Communication

Programs and results

Reports and documents

What we aim to solve

This profile needs more info.

If it is your nonprofit, add a problem overview.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Post High School Scholarship Awards

CSF administers financial need-based scholarships for students who are residents of Greater Cincinnati and are obtaining their post high school degrees and workforce certifications.

Population(s) Served

Ethnic and racial groups

Women and girls

Heterosexuals

LGBTQ people

Men and boys

Where we work

External reviews

Financials

Cincinnati Scholarship Foundation

Fiscal year: Jul 01 - Jun 30

Financial documents

Revenue vs. expenses: breakdown

SOURCE: IRS Form 990

NET GAIN/LOSS: in

Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022

SOURCE: IRS Form 990

22.65

Average of 12.52 over 10 years

Months of cash in 2022

SOURCE: IRS Form 990

1.1

Average of 0.6 over 10 years

Fringe rate in 2022

SOURCE: IRS Form 990

26%

Average of 30% over 10 years

Funding sources

Source: IRS Form 990

Assets & liabilities

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Digitizing IRS form 990 data

Cincinnati Scholarship Foundation

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

Fiscal year ending: Download Data

Revenue
Contributions	$2,102,115
Government Grants	$0
Program Services	$0
Investments	($132,788)
Special Events	$15,791
Sales	$0
Other	$0
Total Revenue	$1,985,118

Expenses
Program Services	$1,974,745
Administration	$55,262
Fundraising	$3,046
Total Expenses	$2,033,053
Net Gain/Loss	($47,935)

Functional expenses
Accounting Fees	$32,740
Advertising & Promotion	$0
Information Technology Expenses	$5,127
Insurance Expenses	$794
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$200
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$2,126,965
Government Grants	$0
Program Services	$0
Investments	$84,043
Special Events	$21,685
Sales	$0
Other	$0
Total Revenue	$2,232,693

Expenses
Program Services	$2,103,771
Administration	$75,968
Fundraising	$17,312
Total Expenses	$2,197,051
Net Gain/Loss	$35,642

Functional expenses
Accounting Fees	$34,040
Advertising & Promotion	$28,142
Information Technology Expenses	$7,482
Insurance Expenses	$1,112
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$2,925
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,790,060
Government Grants	$0
Program Services	$0
Investments	$92,825
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,882,885

Expenses
Program Services	$1,769,865
Administration	$78,063
Fundraising	$20,920
Total Expenses	$1,868,848
Net Gain/Loss	$14,037

Functional expenses
Accounting Fees	$33,333
Advertising & Promotion	$35,633
Information Technology Expenses	$5,842
Insurance Expenses	$961
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$1,338
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,838,481
Government Grants	$0
Program Services	$0
Investments	$34,216
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,872,697

Expenses
Program Services	$1,820,779
Administration	$74,682
Fundraising	$15,996
Total Expenses	$1,911,457
Net Gain/Loss	($38,760)

Functional expenses
Accounting Fees	$33,630
Advertising & Promotion	$0
Information Technology Expenses	$4,469
Insurance Expenses	$1,057
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$1,926
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$2,685,323
Government Grants	$0
Program Services	$0
Investments	$198,861
Special Events	($4,598)
Sales	$0
Other	$0
Total Revenue	$2,879,586

Expenses
Program Services	$1,647,658
Administration	$80,809
Fundraising	$21,401
Total Expenses	$1,749,868
Net Gain/Loss	$1,129,718

Functional expenses
Accounting Fees	$32,920
Advertising & Promotion	$36,181
Information Technology Expenses	$5,337
Insurance Expenses	$1,192
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,784,656
Government Grants	$0
Program Services	$0
Investments	$172,160
Special Events	($4,040)
Sales	$0
Other	$0
Total Revenue	$1,952,776

Expenses
Program Services	$1,774,873
Administration	$63,075
Fundraising	$8,868
Total Expenses	$1,846,816
Net Gain/Loss	$105,960

Functional expenses
Accounting Fees	$31,615
Advertising & Promotion	$12,069
Information Technology Expenses	$6,283
Insurance Expenses	$912
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,574,022
Government Grants	$0
Program Services	$0
Investments	$143,351
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,717,373

Expenses
Program Services	$1,871,970
Administration	$71,140
Fundraising	$0
Total Expenses	$1,943,110
Net Gain/Loss	($225,737)

Functional expenses
Accounting Fees	$32,550
Advertising & Promotion	$21,197
Information Technology Expenses	$9,375
Insurance Expenses	$507
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$5,000
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,519,266
Government Grants	$0
Program Services	$0
Investments	$95,543
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,614,809

Expenses
Program Services	$1,779,964
Administration	$66,309
Fundraising	$0
Total Expenses	$1,846,273
Net Gain/Loss	($231,464)

Functional expenses
Accounting Fees	$31,770
Advertising & Promotion	$12,575
Information Technology Expenses	$17,135
Insurance Expenses	$502
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,783,272
Government Grants	$0
Program Services	$0
Investments	$259,768
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$2,043,040

Expenses
Program Services	$1,736,859
Administration	$70,663
Fundraising	$0
Total Expenses	$1,807,522
Net Gain/Loss	$235,518

Functional expenses
Accounting Fees	$27,250
Advertising & Promotion	$19,340
Information Technology Expenses	$17,375
Insurance Expenses	$509
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,820,350
Government Grants	$0
Program Services	$0
Investments	$156,548
Special Events	($3,568)
Sales	$0
Other	$0
Total Revenue	$1,973,330

Expenses
Program Services	$1,967,328
Administration	$72,692
Fundraising	$3,076
Total Expenses	$2,043,096
Net Gain/Loss	($69,766)

Functional expenses
Accounting Fees	$26,255
Advertising & Promotion	$27,120
Information Technology Expenses	$21,171
Insurance Expenses	$530
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$2,316,191
Government Grants	$0
Program Services	$0
Investments	$74,325
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$2,390,516

Expenses
Program Services	$1,904,791
Administration	$62,905
Fundraising	$3,040
Total Expenses	$1,970,736
Net Gain/Loss	$419,780

Functional expenses
Accounting Fees	$27,195
Advertising & Promotion	$6,261
Information Technology Expenses	$20,059
Insurance Expenses	$557
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,690,331
Government Grants	$0
Program Services	$0
Investments	$110,784
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$1,801,115

Expenses
Program Services	$1,939,173
Administration	$68,385
Fundraising	$2,877
Total Expenses	$2,010,435
Net Gain/Loss	($209,320)

Functional expenses
Accounting Fees	$26,115
Advertising & Promotion	$1,324
Information Technology Expenses	$76,671
Insurance Expenses	$558
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$1,746,923
Government Grants	$0
Program Services	$0
Investments	$410,511
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$2,157,434

Expenses
Program Services	$1,773,285
Administration	$58,563
Fundraising	$2,795
Total Expenses	$1,834,643
Net Gain/Loss	$322,791

Functional expenses
Accounting Fees	$25,275
Advertising & Promotion	$0
Information Technology Expenses	$31,959
Insurance Expenses	$557
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Revenue
Contributions	$2,599,257
Government Grants	$0
Program Services	$0
Investments	$327,721
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$2,926,978

Expenses
Program Services	$1,676,790
Administration	$63,632
Fundraising	$3,112
Total Expenses	$1,743,534
Net Gain/Loss	$1,183,444

Functional expenses
Accounting Fees	$30,105
Advertising & Promotion	$145
Information Technology Expenses	$13,654
Insurance Expenses	$2,776
Interest Expenses	$0
Investment Management Fees	$0
Legal Fees	$0
Pension Plan Contributions	$0
Professional Fundraising Expenses	$0

Cincinnati Scholarship Foundation

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: Download Data

Assets	Jul 01, 2008	Jun 30, 2009	Change
Contributions	$2,102,115
Cash & Equivalents	$53,223	$54,335	$1,112
Accounts Receivable	$86,574	$92,693	$6,119
Pledges & Grants Receivable	$0	$0	$0
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,382,236	$2,200,504	($181,732)
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$4,900	$2,785	($2,115)
Other	$15,287	$15,170	($117)
Total Assets	$2,542,220	$2,365,487	($176,733)

Liabilities	Jul 01, 2008	Jun 30, 2009	Change
Accounts Payable	$10,540	$12,094	$1,554
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$10,540	$12,094	$1,554

Fund balance	Jul 01, 2008	Jun 30, 2009	Change
Temporarily Restricted Net Assets	$850,803	$1,175,928	$325,125
Permanently Restricted Net Assets	$941,249	$668,993	-$272,256
Total Restricted Net Assets	$1,792,052	$1,844,921	$52,869
Unrestricted Net Assets	$739,628	$508,472	($231,156)
Net Assets	$2,531,680	$2,353,393	($178,287)

Assets	Jul 01, 2009	Jun 30, 2010	Change
Contributions	$2,126,965
Cash & Equivalents	$54,335	$93,682	$39,347
Accounts Receivable	$92,693	$59,623	($33,070)
Pledges & Grants Receivable	$0	$0	$0
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,200,504	$2,425,217	$224,713
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$2,785	$21,392	$18,607
Other	$15,170	$20,070	$4,900
Total Assets	$2,365,487	$2,619,984	$254,497

Liabilities	Jul 01, 2009	Jun 30, 2010	Change
Accounts Payable	$12,094	$23,371	$11,277
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$12,094	$23,371	$11,277

Fund balance	Jul 01, 2009	Jun 30, 2010	Change
Temporarily Restricted Net Assets	$1,175,928	$1,196,341	$20,413
Permanently Restricted Net Assets	$668,993	$672,952	$3,959
Total Restricted Net Assets	$1,844,921	$1,869,293	$24,372
Unrestricted Net Assets	$508,472	$727,320	$218,848
Net Assets	$2,353,393	$2,596,613	$243,220

Assets	Jul 01, 2010	Jun 30, 2011	Change
Contributions	$1,790,060
Cash & Equivalents	$93,682	$34,707	($58,975)
Accounts Receivable	$59,623	$116,208	$56,585
Pledges & Grants Receivable	$0	$0	$0
Receivable, Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$2,425,217	$2,768,321	$343,104
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$21,392	$24,504	$3,112
Other	$20,070	$16,699	($3,371)
Total Assets	$2,619,984	$2,960,439	$340,455

Liabilities	Jul 01, 2010	Jun 30, 2011	Change
Accounts Payable	$23,371	$18,589	($4,782)
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$0	$0
Total Liabilities	$23,371	$18,589	($4,782)

Cincinnati Scholarship Foundation

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

This snapshot of Cincinnati Scholarship Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Fiscal year: Jul 01 - Jun 30 View full report Download data

Business model indicators

Profitability	2018	2019	2020	2021	2022
Unrestricted surplus (deficit) before depreciation	-$99,149	-$28,549	-$116,981	$430,471	-$350,296
As % of expenses	-4.9%	-1.5%	-5.8%	23.5%	-20.1%
Unrestricted surplus (deficit) after depreciation	-$102,928	-$32,330	-$125,434	$429,250	-$350,793
As % of expenses	-5.0%	-1.6%	-6.2%	23.4%	-20.1%

Revenue composition
Total revenue (unrestricted & restricted)	$1,973,330	$2,390,516	$1,801,115	$2,157,434	$2,926,978
Total revenue, % change over prior year	-3.4%	21.1%	-24.7%	19.8%	35.7%
Program services revenue	0.0%	0.0%	0.0%	0.0%	0.0%
Membership dues	10.9%	8.5%	10.8%	8.5%	6.5%
Investment income	6.1%	4.8%	6.1%	4.6%	3.8%
Government grants	0.0%	0.0%	0.0%	0.0%	0.0%
All other grants and contributions	81.2%	88.4%	83.1%	72.4%	82.3%
Other revenue	1.9%	-1.7%	0.1%	14.4%	7.4%

Expense composition
Total expenses before depreciation	$2,039,317	$1,966,955	$2,001,982	$1,833,422	$1,743,037
Total expenses, % change over prior year	13.0%	-3.5%	1.8%	-8.4%	-4.9%
Personnel	14.1%	14.3%	13.3%	14.5%	16.7%
Professional fees	1.3%	1.5%	1.5%	1.4%	1.7%
Occupancy	0.7%	0.8%	0.9%	0.9%	1.0%
Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Pass-through	79.6%	80.8%	78.9%	79.9%	77.5%
All other expenses	4.3%	2.6%	5.5%	3.2%	3.1%

Full cost components (estimated)	2018	2019	2020	2021	2022
Total expenses (after depreciation)	$2,043,096	$1,970,736	$2,010,435	$1,834,643	$1,743,534
One month of savings	$169,943	$163,913	$166,832	$152,785	$145,253
Debt principal payment	$0	$0	$0	$0	$0
Fixed asset additions	$0	$0	$0	$0	$0
Total full costs (estimated)	$2,213,039	$2,134,649	$2,177,267	$1,987,428	$1,888,787

Capital structure indicators

Liquidity	2018	2019	2020	2021	2022
Months of cash	0.6	1.7	0.3	0.3	1.1
Months of cash and investments	23.9	27.2	26.0	32.9	35.8
Months of estimated liquid unrestricted net assets	4.4	4.4	3.6	6.7	4.7

Balance sheet composition	2018	2019	2020	2021	2022
Cash	$106,902	$275,507	$46,329	$43,560	$155,471
Investments	$3,949,313	$4,176,642	$4,286,518	$4,984,661	$5,048,372
Receivables	$70,418	$96,177	$62,791	$115,865	$122,147
Gross land, buildings, equipment (LBE)	$55,014	$55,014	$22,203	$22,203	$22,203
Accumulated depreciation (as a % of LBE)	74.6%	81.5%	92.3%	97.8%	100.0%
Liabilities (as a % of assets)	3.7%	0.2%	0.2%	0.2%	0.2%
Unrestricted net assets	$756,013	$723,683	$598,249	$1,027,499	$676,706
Temporarily restricted net assets	$2,585,937	$3,171,603	N/A	N/A	N/A
Permanently restricted net assets	$663,108	$664,908	N/A	N/A	N/A
Total restricted net assets	$3,249,045	$3,836,511	$3,793,783	$4,108,479	$4,637,891
Total net assets	$4,005,058	$4,560,194	$4,392,032	$5,135,978	$5,314,597

Key data checks

Key data checks	2018	2019	2020	2021	2022
Material data errors	No	No	No	No	No

Operations

The people, governance practices, and partners that make the organization tick.

Documents

Letter of Determination

Form 1023/1024 is not available for this organization

President

Ms. Whitney O'Neal

Number of employees

Source: IRS Form 990

Cincinnati Scholarship Foundation

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Cincinnati Scholarship Foundation

Board of directors
as of 10/16/2023

SOURCE: Self-reported by organization

Board of directors data

Download the most recent year of board of directors data for this organization

Board chair

Mr. DeJuan Gossett

Cincinnati ScholarshipFoundation

Term: 2022 - 2024

Shannan Schmitt

The Health Collaborative

James Cullen

University of Cincinnati

Nikela Owens

Yoga Collective

Travis Schraffenberger

Western & Southern Life

Audley Smith

Cincinnati Public Schools

Tanya Ficklin

Cincinnati Public Schools

DeJuan Gossett

USI

Matthew Hoffman

Fifth Third

Matthew Lake

Thompson and Hine

Toyia Montgomery

Good Vibes Inc.

Adrienne Montgomery

Xavier University

Jack Miner

University of Cincinnati

Caroline Trennepohl

Scripps Howard Marketing

Eric Jackson

Northern Kentucky University

William Lampkin

Scripps Howard Foundation

Melanie Burden

Boys Hope Girls Hope

Michelle Hopkins

Greater Cincinnati Foundation Women's Fund

Bryan Surface

Trillium Technologies

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 10/16/2023

Candid has made improvements to the race and ethnicity options.

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity

White/Caucasian/European

Gender identity

Female, Not transgender (cisgender)

Sexual orientation

Heterosexual or straight

Disability status

Person with a disability

Cincinnati Scholarship Foundation

Building a thriving community, one scholarship at a time.

Mission

Is this your nonprofit?

Programs and results

Reports and documents

What we aim to solve

This profile needs more info.

Our programs

Post High School Scholarship Awards

Where we work

Financials

Financial documents

Revenue vs. expenses: breakdown

Liquidity in 2022 info

22.65

Months of cash in 2022 info

1.1

Fringe rate in 2022 info

26%

Funding sources info

Assets & liabilities info

Financial data

Digitizing IRS form 990 data

Cincinnati Scholarship Foundation

Cincinnati Scholarship Foundation

Cincinnati Scholarship Foundation

Business model indicators

Capital structure indicators

Key data checks

Operations

Documents

President

Ms. Whitney O'Neal

Number of employees

Cincinnati Scholarship Foundation

Compensation data

Cincinnati Scholarship Foundation

Board of directors data

Mr. DeJuan Gossett

Board leadership practices

Board orientation and education

CEO oversight

Ethics and transparency

Board composition

Board performance

Organizational demographics

Leadership

Race & ethnicity

Gender identity

Sexual orientation

Disability

Liquidity in 2022

Months of cash in 2022

Fringe rate in 2022

Funding sources

Assets & liabilities