Better Business Bureau Report for
Cincinnati Scholarship Foundation

Better Business Bureau Report issued September 2010
Better Business Bureau Report expires September 2012


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
Also known as:CSF
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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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Programs

               

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 charity 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, 2009, Cincinnati Scholarship Foundation's program expenses were:

  
Scholarship and Award Payments 1,675,102
Scholarship and Award Administration 299,643
Total Program Expenses: $1,974,745
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Governance

               

Chief Executive : Mr. Ned Hertzenberg, President
Compensation*:
 $84,912

Chair of the Board: Mr. Thomas Hayden
Chair's Profession / Business Affiliation: 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:

invitations to fundraising events, Internet, cause-related marketing appeals, sponorship
Fundraising costs were 4% of related contributions. (Related contributions, which totaled $1,959,807, 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, 2009.

Source of Funds  
Contributions and Grants 1,868,087
Administrative Fees 234,028
Fundraising 91,720
Investment Return -263,140
Total Income $1,930,695


chart



Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: 4%  Administrative: 3% 

Total income   $1,930,695
  Program expenses $1,974,745
  Fund raising expenses 78,975
  Administrative expenses 55,262
 
Total expenses   $2,108,982
Expenses in Excess of Income   (178,287)
Beginning net assets   2,531,680
Ending net assets   2,353,393
Total liabilities   12,094
Total assets   $2,365,487


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