Form 990 for tax year 2024
Filed by CINCINNATI SCHOLARSHIP FOUNDATION.
Totals
- Total revenue
- $3,018,624
- Total expenses
- $2,439,273
- Contributions and grants received
- $2,666,297
- Grants paid
- $1,863,081
- Program service revenue
- $0
- Investment income
- $398,232
- Other revenue
- -$45,905
- Total assets, end of year
- $6,655,256
- Total liabilities, end of year
- $33,741
- Net assets or fund balances, end of year
- $6,621,515
- Program services expenses (Part IX)
- $2,017,694
- Management and general expenses
- $310,295
- Fundraising expenses
- $111,284
- Program service expenses (Part III)
- $2,017,694
Program services were 82.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$2,666,297
-
3 · Investment income
total $398,232 · unrelated business $0 · excluded $398,232
-
8a · Fundraising events: gross income
$13,799
-
8b · Fundraising events: direct expenses
$59,704
-
8c · Net income from fundraising events
total -$45,905 · unrelated business $0 · excluded -$45,905
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,863,081 · program services $1,863,081
-
5 · Compensation of officers, directors and key employees
total $117,554 · program services $47,022 · management and general $35,266 · fundraising $35,266
-
7 · Other salaries and wages
total $130,574 · program services $58,758 · management and general $39,172 · fundraising $32,644
-
8 · Pension plan contributions
total $69 · program services $31 · management and general $21 · fundraising $17
-
9 · Other employee benefits
total $49,153 · program services $22,119 · management and general $14,746 · fundraising $12,288
-
10 · Payroll taxes
total $18,581 · program services $8,362 · management and general $5,574 · fundraising $4,645
-
11b · Fees: legal
total $9,421 · program services $942 · management and general $7,537 · fundraising $942
-
11c · Fees: accounting
total $89,544 · program services $8,954 · management and general $71,636 · fundraising $8,954
-
11f · Fees: investment management
total $20,880 · program services $0 · management and general $20,880 · fundraising $0
-
11g · Fees: other
total $1,682 · program services $0 · management and general $1,682 · fundraising $0
-
12 · Advertising and promotion
total $9,480 · program services $1,422 · management and general $0 · fundraising $8,058
-
13 · Office expenses
total $25,109 · program services $2,195 · management and general $21,338 · fundraising $1,576
-
14 · Information technology
total $26,488 · program services $3,240 · management and general $20,008 · fundraising $3,240
-
16 · Occupancy
total $25,254 · program services $791 · management and general $24,068 · fundraising $395
-
17 · Travel
total $8,004 · program services $0 · management and general $8,004 · fundraising $0
-
19 · Conferences, conventions and meetings
total $199 · program services $0 · management and general $0 · fundraising $199
-
22 · Depreciation, depletion and amortization
total $4,188 · program services $0 · management and general $4,188 · fundraising $0
-
23 · Insurance
total $6,185 · program services $0 · management and general $6,185 · fundraising $0
-
24a · Other expenses: PROFESSIONAL FEES
total $23,447 · program services $0 · management and general $23,447 · fundraising $0
-
24b · Other expenses: FUNDRAISING & RELATIONSHIP BUILDING
total $4,096 · program services $777 · management and general $259 · fundraising $3,060
-
24c · Other expenses: BANK FEES
total $5,231 · program services $0 · management and general $5,231 · fundraising $0
-
24d · Other expenses: MISCELLANEOUS EXPENSES
total $1,053 · program services $0 · management and general $1,053 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $479,025 · end of year $1,014,801
-
3 · Pledges and grants receivable
end of year $3,000
-
9 · Prepaid expenses and deferred charges
beginning of year $11,464 · end of year $9,707
-
10a · Land, buildings and equipment: cost or other basis
$21,987
-
10b · Land, buildings and equipment: accumulated depreciation
$9,772
-
10c · Land, buildings and equipment, net
beginning of year $16,403 · end of year $12,215
-
11 · Investments: publicly traded securities
beginning of year $5,313,305 · end of year $5,539,109
-
15 · Other assets
beginning of year $20,667 · end of year $76,424
-
17 · Accounts payable and accrued expenses
beginning of year $10,081 · end of year $17,659
-
25 · Other liabilities
beginning of year $37,070 · end of year $16,082
-
27 · Net assets without donor restrictions
beginning of year $140,050 · end of year $18,130
-
28 · Net assets with donor restrictions
beginning of year $5,653,663 · end of year $6,603,385
Mission and programs · 2024
Mission
THE MISSION OF THE ORGANIZATION IS TO CONNECT STUDENTS RESIDING IN GREATER CINCINNATI WITH POST-HIGH SCHOOL SCHOLARSHIP OPPORTUNITIES TO PURSUE THEIR EDUCATIONAL GOALS
-
SCHOLARSHIPS- THE OBJECT OF THE ORGANIZATION IS TO CREATE, MAINTAIN, AND ADMINISTER FUNDS FOR THE EDUCATIONAL ADVANCEMENT OF WORTHY AND FINANCIALLY NEEDY COLLEGE STUDENTS. SINCE 1964 OVER $62,871,729 IN SCHOLARSHIPS HAVE BEEN AWARDED TO 41,415 AREA STUDENTS.SEE SCHEDULE I FOR DETAILS OF THE CURRENT YEAR SCHOLARSHIPS AWARDED.
Expenses $2,017,694 · Grants $1,863,081
As filed on the 2024 return.
Listed in Part VII
-
Whitney O'NealWHITNEY O'NEAL
PRESIDENT & CEO
- Total calculated
- $105,420
- From this org
- $105,420
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jack MinerJACK MINER
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Adrienne MontgomeryADRIENNE MONTGOMERY
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Chad KoldeCHAD KOLDE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
William LampkinWILLIAM LAMPKIN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
James R CullenJAMES R CULLEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Melanie BurdenMELANIE BURDEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Meghan HollowellMEGHAN HOLLOWELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Michelle HopkinsMICHELLE HOPKINS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Eric JacksonDR ERIC JACKSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Olivia KentnerOLIVIA KENTNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Matt LakeMATT LAKE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Nikela Owens PhDNIKELA OWENS PHD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Travis SchraffenbergerTRAVIS SCHRAFFENBERGER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Shannan SchmittSHANNAN SCHMITT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dr Audley SmithDR AUDLEY SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 21 April 2026
- IRS schema version
- 2024v5.2
- Source object
- 202601339349303745
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