Better Business Bureau Report for
Cincinnati Scholarship Foundation

Better Business Bureau Report issued December 2012
Better Business Bureau Report expires December 2014


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: 602 Main Street, Suite 1000
  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 students attending Cincinnati Public Middle/Junior and Senior High Schools, and 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 meets the 20 Standards for Charity Accountability.
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BBB Accreditation

              

 A BBB Accredited Charity since 06/18/2008.

BBB has determined that in addition to meeting BBB's 20 Standards for Charity Accountability, Cincinnati Scholarship Foundation adheres to the BBB Code of Business Practices, which includes a commitment to make a good faith effort to resolve any complaints.  Charities that display the BBB Accredited Charity Seal pay a fee for review / monitoring and for support of BBB's services to the public.

BBB accreditation does not mean that the charity's programs or services have been evaluated or endorsed by BBB or that BBB has made a determination as to the charity's competency in performing services.

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Programs

               

Cincinnati Scholarship Foundation (CSF) accepts and administers educational funds in compliance with any specific restrictions or requirements the donor may wish to place upon these funds. The charity operates a high school scholarship program and a college scholarship program. The high school scholarship program provides monthly stipends to students in the Cincinnati Public Schools system that meet certain requirements. The program encourages the students to graduate and continue their education in college. The college program administers scholarships on behalf of local businesses, corporations, individuals, and other area foundations. By reaching out to motivated and deserving students who have limited financial resources, CSF helps to provide the means to attend college and the opportunity to realize their dreams. According to the charity, CSF has evolved over the years to meet the changing needs of the community but the goal has remained the same: to remove some of the economic barriers that would deny a student an education.

For the fiscal year-ended June 30, 2011, Cincinnati Scholarship Foundation's program expenses were:

  
Scolarship and Award Administration 316,729
Total Program Expenses: $316,729
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Governance

               

Chief Executive : Mr. Edward Hertzenberg, President
Compensation*: 
 $91,813

Chair of the Board: Mr. Thomas Hayden
Chair's Profession / Business Affiliation: President, AXA Advisors, LLC

Board Size: 16

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:

Internet
Fundraising costs were 1% of related contributions. (Related contributions, which totaled $1,609,522, are donations received as a result of fundraising activities.)
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Tax Status

               

This charity 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, 2011.

Source of Funds  
Contributions and Grants 1,572,973
Investment Return 424,024
Administrative Fees 180,538
Fundraising 36,549
Total Income $2,214,084


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Uses of Funds as a % of Total Expenses

Programs: 76%  Fund Raising: 5%  Administrative: 19% 

Total income $2,214,084
Program expenses $316,729
Fund raising expenses 20,920
Administrative expenses 78,060
Total expenses $415,709
Income in Excess of Expenses 1,798,375
Beginning net assets 2,596,613
Ending net assets 2,941,850
Total liabilities 18,589
Total assets $2,960,439


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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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