Children’s Scholarship Fund

CSF has provided scholarships worth $885 million, changing the lives of 185,000 children.

Category:

New York, NY – EIN 134002189 scholarshipfund.org

Ted Forstmann and John Walton met through their shared passion for helping low-income children escape poverty through educational opportunity. They were early donors and supporters of the Washington Scholarship Fund (WSF), which was founded to provide scholarships for families in Washington, DC. When WSF received more than 8,000 scholarship applications for the 1998-99 school year, Ted and John realized there was real demand for alternatives to the public school system – and that the demand existed not only in Washington, DC but in cities across the country.

The scale of the challenge led them to co-found CSF, and in 1998, CSF officially launched by offering 40,000 K-8 scholarships – worth almost $200 million – to low-income families across America. The parents of more than 1.25 million students applied for the four-year scholarships. Although Ted and John originally thought CSF would be a four-year effort – a demonstration to highlight to public officials the scale of the challenge – they immediately realized CSF would require a commitment of many years.

Both our founders have sadly passed away, yet their passion and dedication to children and American education live on in CSF. And the work continues. Since 1998 we have provided scholarships worth $885 million dollars to 185,000 children and their families. And we have helped launch similar scholarship programs and counseled other education reform efforts across the country.

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THE CHILDRENS SCHOLARSHIP FUND

NEW YORK, NY 10018-6229 | Tax-exempt since Nov. 1998
  • EIN: 13-4002189
  • Classification (NTEE)
    Scholarships, Student Financial Aid Services, Awards (Educational Institutions and Related Activities)
  • Nonprofit Tax Code Designation: 501(c)(3)
    Defined as: Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn’t provide athletic facilities or equipment), or the prevention of cruelty to children or animals.
  • Donations to this organization are tax deductible.
Fiscal year ending

Aug. 2020

Fiscal year ending Aug.

2020

PDF

990

Full Text

990 (filed on April 5, 2021)

Full Filing

Raw XML

990

Total Revenue

$27,592,882

Total Functional Expenses $24,509,577
Net income $3,083,305
Notable sources of revenue Percent of total revenue
Contributions $27,257,605 98.8%
Program services $0
Investment income $250,725 0.9%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$924
Sales of assets $19,142 0.1%
Net inventory sales $0
Other revenue $66,334 0.2%
Notable expenses Percent of total expenses
Executive compensation $1,039,334 4.2%
Professional fundraising fees $0
Other salaries and wages $568,135 2.3%
Other
Total Assets $25,476,794
Total Liabilities $357,858
Net Assets $25,118,936
Key Employees and Officers Compensation
Darla M Romfo (President & COO) $327,322
Thomas J Finnerty (SVP & CFO) $300,239
Michele Mitola (VP Strategic Planning & Development) $172,544
Elizabeth Toomey (Corporate Secretary) $137,302
Mike McCurry (Chair) $0
Matthew Bonanno (Board Member) $0
Jeffrey Chang (Board Member) $0
Stephen Fraidin (Board Member) $0
Michael Gerstner (Board Member) $0
Christopher Halpin (Board Member) $0
David E Johnson (Board Member) $0
Margot McGinness (Board Member) $0
Kevin Short (Board Member) $0
Remy Trafelet (Board Member) $0
Heather Vrattos (Board Member) $0
Juan Williams (Board Member) $0
Fiscal year ending

Aug. 2019

Fiscal year ending Aug.

2019

PDF

990
990-T
990-T

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2018

Fiscal year ending Aug.

2018

PDF

990
990-T

Total Revenue

$28,712,189

Total Functional Expenses $25,926,480
Net income $2,785,709
Notable sources of revenue Percent of total revenue
Contributions $28,487,415 99.2%
Program services $0
Investment income $273,608 1.0%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$48,930
Sales of assets -$117
Net inventory sales $0
Other revenue $213 0.0%
Notable expenses Percent of total expenses
Executive compensation $1,002,459 3.9%
Professional fundraising fees $0
Other salaries and wages $565,780 2.2%
Other
Total Assets $20,406,664
Total Liabilities $342,733
Net Assets $20,063,931
Fiscal year ending

Aug. 2017

Fiscal year ending Aug.

2017

PDF

990

Total Revenue

$23,929,747

Total Functional Expenses $22,111,290
Net income $1,818,457
Notable sources of revenue Percent of total revenue
Contributions $23,846,212 99.7%
Program services $0
Investment income $88,522 0.4%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$4,961
Sales of assets -$34
Net inventory sales $0
Other revenue $8 0.0%
Notable expenses Percent of total expenses
Executive compensation $967,615 4.4%
Professional fundraising fees $0
Other salaries and wages $524,985 2.4%
Other
Total Assets $18,362,840
Total Liabilities $1,084,618
Net Assets $17,278,222
Fiscal year ending

Aug. 2016

Fiscal year ending Aug.

2016

PDF

990
990

Total Revenue

$24,448,705

Total Functional Expenses $22,382,221
Net income $2,066,484
Notable sources of revenue Percent of total revenue
Contributions $24,428,028 99.9%
Program services $0
Investment income $24,088 0.1%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$5,610
Sales of assets -$41
Net inventory sales $0
Other revenue $2,240 0.0%
Notable expenses Percent of total expenses
Executive compensation $731,327 3.3%
Professional fundraising fees $0
Other salaries and wages $522,661 2.3%
Other
Total Assets $15,588,921
Total Liabilities $129,156
Net Assets $15,459,765
Fiscal year ending

Aug. 2015

Fiscal year ending Aug.

2015

PDF

990

Total Revenue

$22,227,567

Total Functional Expenses $22,351,701
Net income -$124,134
Notable sources of revenue Percent of total revenue
Contributions $22,225,578 100.0%
Program services $0
Investment income $5,323 0.0%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$7,095
Sales of assets $13 0.0%
Net inventory sales $0
Other revenue $3,748 0.0%
Notable expenses Percent of total expenses
Executive compensation $708,724 3.2%
Professional fundraising fees $0
Other salaries and wages $432,365 1.9%
Other
Total Assets $13,466,210
Total Liabilities $72,929
Net Assets $13,393,281
Fiscal year ending

Aug. 2014

Fiscal year ending Aug.

2014

PDF

990

Total Revenue

$23,604,477

Total Functional Expenses $23,936,563
Net income -$332,086
Notable sources of revenue Percent of total revenue
Contributions $23,588,401 99.9%
Program services $0
Investment income $7,490 0.0%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$1,983
Sales of assets $18 0.0%
Net inventory sales $0
Other revenue $10,551 0.0%
Notable expenses Percent of total expenses
Executive compensation $691,860 2.9%
Professional fundraising fees $0
Other salaries and wages $499,875 2.1%
Other
Total Assets $13,604,069
Total Liabilities $86,654
Net Assets $13,517,415
Fiscal year ending

Aug. 2013

Fiscal year ending Aug.

2013

PDF

990

Total Revenue

$24,303,347

Total Functional Expenses $25,089,807
Net income -$786,460
Notable sources of revenue Percent of total revenue
Contributions $24,287,928 99.9%
Program services $0
Investment income $12,715 0.1%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising -$658
Sales of assets -$345
Net inventory sales $0
Other revenue $3,707 0.0%
Notable expenses Percent of total expenses
Executive compensation $697,961 2.8%
Professional fundraising fees $0
Other salaries and wages $541,176 2.2%
Other
Total Assets $13,944,047
Total Liabilities $94,546
Net Assets $13,849,501
Fiscal year ending

Aug. 2012

Fiscal year ending Aug.

2012

PDF

990

Total Revenue

$26,214,858

Total Functional Expenses $25,289,912
Net income $924,946
Notable sources of revenue Percent of total revenue
Contributions $26,203,428 100.0%
Program services $0
Investment income $9,872 0.0%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising $0
Sales of assets -$242
Net inventory sales $0
Other revenue $1,800 0.0%
Notable expenses Percent of total expenses
Executive compensation $687,518 2.7%
Professional fundraising fees $0
Other salaries and wages $527,202 2.1%
Other
Total Assets $14,797,235
Total Liabilities $161,274
Net Assets $14,635,961
Fiscal year ending

Aug. 2011

Fiscal year ending Aug.

2011

PDF

990

Total Revenue

$29,103,597

Total Functional Expenses $26,855,717
Net income $2,247,880
Notable sources of revenue Percent of total revenue
Contributions $29,088,945 99.9%
Program services $0
Investment income $15,018 0.1%
Bond proceeds $0
Royalties $0
Rental property income $0
Net fundraising $0
Sales of assets -$2,166
Net inventory sales $0
Other revenue $1,800 0.0%
Notable expenses Percent of total expenses
Executive compensation $581,000 2.2%
Professional fundraising fees $0
Other salaries and wages $527,861 2.0%
Other
Total Assets $13,896,197
Total Liabilities $185,182
Net Assets $13,711,015
Fiscal year ending

Aug. 2010

Fiscal year ending Aug.

2010

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2009

Fiscal year ending Aug.

2009

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2008

Fiscal year ending Aug.

2008

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2007

Fiscal year ending Aug.

2007

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2006

Fiscal year ending Aug.

2006

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2005

Fiscal year ending Aug.

2005

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2004

Fiscal year ending Aug.

2004

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2003

Fiscal year ending Aug.

2003

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2002

Fiscal year ending Aug.

2002

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.

Fiscal year ending

Aug. 2001

Fiscal year ending Aug.

2001

PDF

990

Form 990 documents available

Extracted financial data is not available for this tax period, but Form 990 documents are available for download.


Last Updated: 2021-07-22 11:38
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