Better Business Bureau Report for
Optimist Scholarship Foundation of Southeast Texas

Better Business Bureau Report issued June 2014
Better Business Bureau Report expires June 2015


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: 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 high school Seniors. Applications seek information about grades, participation in civic and school activities, and require a short hand written essay. Students from sponsored schools 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. The 2013 - 2014 Academic year for the Optimist Scholarship Foundation of Southeast Texas culminated with the Annual Awards Banquet on Sunday April 6, 2014. Eighteen area high schools participated, and thirty six students were identified as finalists. From this number eight boys and eight girls each received a scholarship of $1,000.00. Five of our local Optimist clubs paid $300 to sponsor each of their schools.

For the fiscal year ended June 30, 2013, Optimist Scholarship Foundation of Southeast Texas's program expenses were:

  
Total Program Expenses: $
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Governance

              

Chief Executive : n/a, a/n
Compensation*: 
$

Chair of the Board: Max Zanger
Chair's Profession / Business Affiliation: President

Board Size: 12

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, Direct appeals member clubs
Fund raising costs were 16% of related contributions. (Related contributions, which totaled $11,876, 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, 2013.

Source of Funds  
Other (Interest income, etc.) 16,670
Public Support 11,876
Total Income $28,546


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Uses of Funds as a % of Total Expenses

Programs: 86%  Fund Raising: 9%  Administrative: 5% 

Total income $28,546
Program expenses $17,800
Fund raising expenses 1,871
Administrative expenses 1,047
Total expenses $20,718
Income in Excess of Expenses 7,828
Beginning net assets 236,710
Ending net assets 244,538
Total liabilities 5,621
Total assets $250,159


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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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