Form 990 for tax year 2023

Filed by SAY YES CLEVELAND SCHOLARSHIP INC.

Totals

Total revenue: $11,616,456
Total expenses: $5,247,211
Contributions and grants received: $11,616,456
Grants paid: $3,457,683
Program service revenue: $0
Investment income: $0
Other revenue: $0
Total assets, end of year: $119,339,975
Total liabilities, end of year: $55,260
Net assets or fund balances, end of year: $119,284,715
Program services expenses (Part IX): $4,360,516
Management and general expenses: $886,695
Fundraising expenses: $0
Program service expenses (Part III): $4,360,516

Program services were 83.1% 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.

1a · Federated campaigns

$500,000
1f · All other contributions, gifts and grants

$11,116,456

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $3,457,683 · program services $3,457,683
11a · Fees: management

total $327,333 · program services $327,333
11c · Fees: accounting

total $24,696 · management and general $24,696
11f · Fees: investment management

total $194,331 · management and general $194,331
11g · Fees: other

total $65,500 · management and general $65,500
13 · Office expenses

total $970 · management and general $970
14 · Information technology

total $81,000 · program services $81,000
24a · Other expenses: BAD DEBT

total $600,000 · management and general $600,000
24b · Other expenses: MENTORING PROGRAM

total $479,500 · program services $479,500
24c · Other expenses: SUMMER PROGRAM

total $15,000 · program services $15,000
24d · Other expenses: OTHER BUSINESS EXPENSES

total $718 · management and general $718
24e · All other expenses

total $480 · management and general $480

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $2,691 · end of year $2,211
3 · Pledges and grants receivable

beginning of year $7,180,716 · end of year $9,366,296
9 · Prepaid expenses and deferred charges

beginning of year $66,167 · end of year $67,333
12 · Investments: other securities

beginning of year $92,017,770 · end of year $109,904,135
17 · Accounts payable and accrued expenses

beginning of year $22,536 · end of year $55,260
27 · Net assets without donor restrictions

beginning of year $92,064,092 · end of year $109,918,419
28 · Net assets with donor restrictions

beginning of year $7,180,716 · end of year $9,366,296

Mission and programs · 2023

Mission

THE MISSION OF SAY YES CLEVELAND IS TO PARTNER WITH THE CLEVELAND METROPOLITAN SCHOOL DISTRICT (CMSD) TO IMPROVE CLEVELAND'S ECONOMY, NEIGHBORHOODS, AND WORKFORCE OVER THE COMING GENERATIONS BY BRINGING TOGETHER, MOBILIZING, AND TARGETING COMMUNITY RESOURCES TO ADDRESS TWO BARRIERS:- SAY YES CLEVELAND ADDRESSES POST-SECONDARY AFFORDABILITY BY A TUITION SCHOLARSHIP AVAILABLE TO EVERY ELIGIBLE CMSD HIGH SCHOOL GRADUATE TO ATTEND A PUBLIC FOUR-YEAR OR TWO-YEAR INSTITUTION OR ACCREDITED TRAINING PROGRAM.- TO HELP STUDENTS OVERCOME THE SIGNIFICANT CHALLENGES ASSOCIATED WITH MULTI-GENERATIONAL POVERTY - CHALLENGES THAT LEAVE NO ROOM FOR SETBACKS AND OFTEN HINDER POST-SECONDARY PURSUIT OR PERFORMANCE. SAY YES CLEVELAND PROVIDES SUPPORT SERVICES TO STUDENTS FROM PRE-K THROUGH HIGH SCHOOL GRADUATION.

Activities or mission (Part I)

TO PROVIDE POST-SECONDARY TUITION SCHOLARSHIPS TO ELIGIBLE STUDENTS GRADUATING FROM THE CLEVELAND METROPOLITAN SCHOOL DISTRICT AND ITS PARTNERING CHARTER HIGH SCHOOLS. THE ORGANIZATION IS CHARGED WITH OVERSIGHT AND APPROVAL OF POLICIES AND PROCEDURES FOR THIS PROGRAM TO ENSURE THE PROVISION OF SCHOLARSHIPS IS UNIVERSAL, EQUITABLE, AND SUSTAINABLE. THE ORGANIZATION WORKS COLLABORATIVELY WITH THE SAY YES CLEVELAND OPERATING COMMITTEE. THE OPERATING COMMITTEE IS RESPONSIBLE FOR EFFECTIVE IMPLEMENTATION AND SUPPORT FOR THE STUDENT SERVICES COMPONENT OF THE OVERALL SAY YES MISSION.OBJECTIVES OF THE MISSION INCLUDE INCREASING THE EDUCATIONAL LEVEL OF CLEVELAND RESIDENTS, IMPROVING COLLEGE ACCESS FOR MIDDLE AND LOW INCOME FAMILIES IN CLEVELAND, INCREASING THE POPULATION IN THE CITY OF CLEVELAND, AND SPURRING ECONOMIC GROWTH AND EXPANSION IN CLEVELAND THROUGH DEVELOPMENT AND RETENTION OF A HIGH-SKILLED FUTURE WORKFORCE.

SCHOLARSHIP PROGRAM: PROVISION OF POST-SECONDARY TUITION SCHOLARSHIPS TO ELIGIBLE STUDENTS GRADUATING FROM THE CLEVELAND METROPOLITAN SCHOOL DISTRICT AND ITS PARTNERING CHARTER HIGH SCHOOLS.

Expenses $4,360,516 · Grants $3,457,683

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Lonnie ColemanLONNIE COLEMAN

BOARD MEMBER

Total calculated

$0

Hours/week

2
Inajo Davis ChappellINAJO DAVIS CHAPPELL

BOARD CHAIR

Total calculated

$0

Hours/week

2
Diane DowningDIANE DOWNING

BOARD MEMBER

Total calculated

$0

Hours/week

2
Terri EasonTERRI EASON

BOARD MEMBER

Total calculated

$0

Hours/week

2
Robert MartensROBERT MARTENS

BOARD MEMBER

Total calculated

$0

Hours/week

2
Drew MartinDREW MARTIN

BOARD MEMBER

Total calculated

$0

Hours/week

2
Ann MullinANN MULLIN

VICE CHAIR

Total calculated

$0

Hours/week

2
Dolores GarciaDOLORES GARCIA

BOARD MEMBER

Total calculated

$0

Hours/week

2
Mark HannaMARK HANNA

BOARD MEMBER

Total calculated

$0

Hours/week

2
Victor RuizVICTOR RUIZ

SECRETARY

Total calculated

$0

Hours/week

2
Eddie TaylorEDDIE TAYLOR

TREASURER

Total calculated

$0

Hours/week

2
Helen WilliamsHELEN WILLIAMS

BOARD MEMBER

Total calculated

$0

Hours/week

2

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: 2023
Filed: 12 March 2025
IRS schema version: 2023v6.0
Source object: 202540779349300804

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