Better Business Bureau Report for
Cincinnati Scholarship Foundation

Better Business Bureau Report issued June 2008
Better Business Bureau Report expires June 2010


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Cincinnati Scholarship Foundation
Address: 652 Main Street, Suite 300
  Cincinnati, OH 45202
Phone: (513) 345-6701
Web Address: www.cincinnatischolarshipfoundation.org
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Better Business Bureau Comments

Year, State Incorporated: 1946, Ohio
Affiliates: None
Stated Purpose: To create, maintain, and administer funds and award scholarships for the cultural and educational advancement of worthy and financially needy (a) students attending Cincinnati Public Middle/Junior and Senior High Schools, and (b) graduates of any high school with the primary purpose of supporting graduates of any Greater Cincinnati High School, attending an accredited, non-proprietary college or university.

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Evaluation Conclusions

               

Cincinnati Scholarship Foundation (CSF) meets the 20 Standards for Charity Accountability.
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BBB Accreditation

               

This organization participates in the BBB Identification Program and the BBB Accredited Charity Seal Program.  This organization has agreed to use special procedures including mediation and arbitration, if necessary, to resolve disputes.  This organization has also committed to ethical practices on the Internet.

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Programs

               

The Cincinnati Scholarship Fund accepts and administers educational funds in compliance with specific restrictions or requirements the donor may wish to place upon these funds. The organization provides a high school program and a college program. The high school program provides monthly stipends to students in the Cincinnati Public Schools system that meets certain requirements. The program encourages the students to graduate and continue their education in college. The college program administers scholarship funds for numerous businesses, organizations, foundations, and individuals.

For the fiscal year ended June 30, 2008, Cincinnati Scholarship Foundation's program expenses were:

  
Scholarship and Award Payments 1,579,766
Scholarship and Award Administration 294,633
Total Program Expenses: $1,874,399
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Governance

               

Chief Executive : Mr. Edward. J. (Ned) Hertzenberg, President
Compensation*:
 $78,583

Chair of the Board: Mr. J. Jeffrey Pasquale
Chair's Profession / Business Affiliation: Vice President, Fifth Third Bank

Board Size: 15

Paid Staff Size: 4

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

invitations to fundraising events, Internet
Fundraising costs were 2% of related contributions. (Related contributions, which totaled $1,708,532, are donations received as a result of fundraising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Cincinnati Scholarship Foundation's audited financial statements for the fiscal year ended June 30, 2008.

Source of Funds  
Contributions 1,675,097
Administration Fees 189,235
Fundraising 33,435
Investment Return -89,016
Total Income $1,808,751


chart



Uses of Funds as a % of Total Expenses

Programs: 95%  Fund Raising: 2%  Administrative: 3% 

Total income   $1,808,751
  Program expenses $1,874,399
  Fund raising expenses 30,470
  Administrative expenses 53,646
 
Total expenses   $1,958,515
Expenses in Excess of Income   (149,764)
Beginning net assets   2,690,342
Other Changes in Net Assets (8,898)
Ending net assets   2,531,680
Total liabilities   10,540
Total assets   $2,542,220


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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