Better Business Bureau Report for
Optimist Scholarship Foundation of Southeast Texas

Better Business Bureau Report issued February 2013
Better Business Bureau Report expires February 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Optimist Scholarship Foundation of Southeast Texas
Address: 5466 Darnell St.
  Houston, TX 77096
Phone: 713-772-1943
Web Address: www.setxdist.com/osf.htm
Also known as:Harris County Youth Scholarship Foundation
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Better Business Bureau Comments

Year, State Incorporated: 1960, Texas
Affiliates: None
Stated Purpose: Our Mission: "To provide scholarships for graduating seniors that recognize individual accomplishment in academic, service, and citizenship through a competitive process among area high schools sponsored by local Optimist Clubs."

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Evaluation Conclusions

              

Optimist Scholarship Foundation of Southeast Texas meets the 20 Standards for Charity Accountability.
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Programs

              

The Foundation awards scholarships to Seniors. Applications seek information about grades, participation in civic and school activities, and require a short hand written essay. Two students from Sponsored schools will compete through an interview and the written application for a limited number of Scholarships each year. Winners are announced at the annual Awards Banquet in late April, with an equal number of Scholarships awarded to Boys and Girls.

For the fiscal year ended June 30, 2012, Optimist Scholarship Foundation of Southeast Texas's program expenses were:

  
Scholarships 16,000
Stipend Winners 2,000
Banquet costs 1,503
Total Program Expenses: $19,503
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Governance

              

Chief Executive :
Compensation*: 
$

Chair of the Board: Thomas Jay Janson, DDS
Chair's Profession / Business Affiliation: Self Employed General Dentist

Board Size: 13

Paid Staff Size: 0

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

              

Method(s) Used:

print advertisements, membership
Fund raising costs were 9% of related contributions. (Related contributions, which totaled $6,000, are donations received as a result of fund raising 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 Optimist Scholarship Foundation of Southeast Texas's unaudited financial statements for the fiscal year ended June 30, 2012.

Source of Funds  
Sponsorships 4,000
Banquet gross income 2,220
Unrestricted fund contributions 2,000
Interest income 1,961
Ads in Banquet program 1,300
Dividend income 337
Unrealized investment decreases -3,645
Total Income $8,173


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Uses of Funds as a % of Total Expenses

Programs: 97%  Fund Raising: 3%  Administrative: Less than 1% 

Total income $8,173
Program expenses $19,503
Fund raising expenses 557
Administrative expenses 32
Total expenses $20,092
Expenses in Excess of Income (11,919)
Beginning net assets 277,549
Ending net assets 265,630
Total liabilities 8,532
Total assets $250,675


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Complaints

              

The BBB has processed no complaints about this organization in the past 36 months, our standard reporting period.

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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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