Better Business Bureau Report for
Optimist Scholarship Foundation of Southeast Texas

Better Business Bureau Report issued December 2011
Better Business Bureau Report expires December 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: 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, 2011, Optimist Scholarship Foundation of Southeast Texas's program expenses were:

  
Scholarships 16,000
Stipends for Winners 2,300
Banquet Costs 1,450
Total Program Expenses: $19,750
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Governance

               

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

Chair of the Board: Eileen Graham Moore
Chair's Profession / Business Affiliation: Retired, Founding Director St. Paul Presbyterian Church Early Childhood Ministries

Board Size: 11

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:

invitations to fund raising events, print advertisements
Fund raising costs were 2% of related contributions. (Related contributions, which totaled $10,585, 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, 2011.

Source of Funds  
Unrealized Investment Increases 14,270
Unrestricted Funds Contributions 6,185
Income Interest 4,882
Sponsorships 4,400
Banquet Gross Income 2,755
Banquet Program 1,535
Total Income $34,027


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Uses of Funds as a % of Total Expenses

Programs: 98%  Fund Raising: 1%  Administrative: 1% 

Total income   $34,027
  Program expenses $19,750
  Fund raising expenses 200
  Administrative expenses 189
 
Total expenses   $20,139
Income in Excess of Expenses   13,888
Beginning net assets   263,661
Ending net assets   277,549
Total liabilities   6,259
Total assets   $283,808


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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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