Form 990 for tax year 2024
Filed by INNER-CITY SCHOLARSHIP FUND INC.
Totals
- Total revenue
- $48,828,788
- Total expenses
- $28,805,291
- Contributions and grants received
- $40,084,746
- Grants paid
- $24,219,489
- Program service revenue
- $0
- Investment income
- $9,238,339
- Other revenue
- -$494,297
- Total assets, end of year
- $143,162,491
- Total liabilities, end of year
- $794,709
- Net assets or fund balances, end of year
- $142,367,782
- Program services expenses (Part IX)
- $24,762,032
- Management and general expenses
- $1,381,167
- Fundraising expenses
- $2,662,092
- Program service expenses (Part III)
- $24,762,032
Program services were 86.0% 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.
-
1c · Fundraising events
$3,420,239
-
1f · All other contributions, gifts and grants
$36,664,507
-
3 · Investment income
total $4,013,488 · excluded $4,013,488
-
7a · Gross sales of assets other than inventory
securities $43,421,871
-
7b · Less cost or other basis and sales expenses
securities $38,197,020
-
7c · Gain or loss
securities $5,224,851
-
7d · Net gain or loss
total $5,224,851 · excluded $5,224,851
-
8a · Fundraising events: gross income
$352,289
-
8a · Fundraising events: contributions included on line 1c
$3,420,239
-
8b · Fundraising events: direct expenses
$846,586
-
8c · Net income from fundraising events
total -$494,297 · excluded -$494,297
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $24,219,489 · program services $24,219,489
-
7 · Other salaries and wages
total $2,028,107 · program services $364,656 · management and general $519,181 · fundraising $1,144,270
-
8 · Pension plan contributions
total $221,207 · program services $52,434 · management and general $50,019 · fundraising $118,754
-
9 · Other employee benefits
total $280,143 · program services $38,409 · management and general $79,177 · fundraising $162,557
-
10 · Payroll taxes
total $139,997 · program services $23,606 · management and general $37,208 · fundraising $79,183
-
11c · Fees: accounting
total $94,735 · management and general $58,800 · fundraising $35,935
-
11e · Fees: professional fundraising services
total $827,550 · fundraising $827,550
-
11f · Fees: investment management
total $5,791 · management and general $5,791
-
11g · Fees: other
total $64,627 · program services $17,057 · management and general $47,570
-
14 · Information technology
total $199,404 · management and general $199,404
-
16 · Occupancy
total $146,313 · management and general $146,313
-
22 · Depreciation, depletion and amortization
total $10,135 · management and general $10,135
-
24a · Other expenses: FOOD/GRATUITY/EVENTS/OT
total $260,376 · fundraising $260,376
-
24b · Other expenses: ANNUAL REPORT
total $42,965 · management and general $42,965
-
24c · Other expenses: ENRICHMENT PROGRAM
total $38,522 · program services $38,522
-
24d · Other expenses: EVENTS ALLOCATION
total $33,467 · fundraising $33,467
-
24e · All other expenses
total $192,463 · program services $7,859 · management and general $184,604
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $14,774,546 · end of year $22,327,209
-
3 · Pledges and grants receivable
beginning of year $19,916,706 · end of year $26,059,495
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10c · Land, buildings and equipment, net
beginning of year $30,406
-
11 · Investments: publicly traded securities
beginning of year $83,487,462 · end of year $93,056,156
-
12 · Investments: other securities
beginning of year $3,121,515 · end of year $1,719,631
-
17 · Accounts payable and accrued expenses
beginning of year $84,450 · end of year $88,064
-
19 · Deferred revenue
beginning of year $502,800 · end of year $681,750
-
25 · Other liabilities
beginning of year $640,847 · end of year $24,895
-
27 · Net assets without donor restrictions
beginning of year $12,319,757 · end of year $26,080,095
-
28 · Net assets with donor restrictions
beginning of year $107,782,781 · end of year $116,287,687
Mission and programs · 2024
Mission
INNER-CITY SCHOLARSHIP FUND (ICSF) ENSURES THAT THE GIFT OF AN EXCELLENT K-12 CATHOLIC SCHOOL EDUCATION IN THE ARCHDIOCESE OF NEW YORK CONTINUES TO BE A VIABE OPTION FOR BOTH CURRENT AND FUTURE STUDENTS OF ALL FAITHS. SEE SCHEDULE O.
Activities or mission (Part I)
PROVIDE CHILDREN WITH A QUALITY, VALUES-BASED K-12 CATHOLIC EDUCATION WITHIN THE ARCHDIOCESE OF NY.
-
INTERNALLY MANAGED SCHOLARSHIPS: NEEDS-BASED AWARDS MADE FOR STUDENTS IN ARCHDIOCESE OF NEW YORK CATHOLIC SCHOOLS.
Expenses $17,389,003 · Grants $16,935,345
-
EXTERNALLY MANAGED SCHOLARSHIPS: GRANT PAYMENTS FOR SCHOLARSHIPS IN PARTNERSHIP WITH THE CHILDREN'S SCHOLARSHIP FUND, AND STUDENT SPONSOR PARTNERS.
Expenses $7,162,144 · Grants $7,162,144
-
FINANCIAL AID GRANTS: FINANCIAL AID GRANTS FOR UNDER-SERVICED CATHOLIC SCHOOLS, AND DEPARTMENT OF EDUCATION OF THE ARCHDIOCESE OF NEW YORK. THESE GRANTS COULD BE FOR STUDENT SCHOLARSHIPS, ENRICHMENT, OPPORTUNITIES, AND CAPITAL REPAIRS OR GENERAL OPERATIONS.
Expenses $210,885 · Grants $122,000
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Cardinal Timothy DolanCARDINAL TIMOTHY DOLAN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Peter T GrauerPETER T GRAUER
TRUSTEE/PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
John P CahillJOHN P CAHILL
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Sr Mary Grace WalshSR MARY GRACE WALSH
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Anthony J De NicolaANTHONY J DE NICOLA
TRUSTEE/VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Michael P Esposito IIIMICHAEL P ESPOSITO III
TRUSTEE/VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Catherine M KeatingCATHERINE M KEATING
TRUSTEE/VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Rev Joseph P LamorteREV JOSEPH P LAMORTE
VICAR GENERAL
- Total calculated
- $0
- Hours/week
- 1
-
Thomas S Murphy JrTHOMAS S MURPHY JR
TRUSTEE/VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Douglas J BandDOUGLAS J BAND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lawrence B BenensonLAWRENCE B BENENSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Margaret CrottyMARGARET CROTTY
TRUSTEE (THRU 5/2025)
- Total calculated
- $0
- Hours/week
- 1
-
Leon F Dejulius JrLEON F DEJULIUS JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Samuel A Di Piazza JrSAMUEL A DI PIAZZA JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ana L Diez De Rivera-LaffontANA L DIEZ DE RIVERA-LAFFONT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John Q DoyleJOHN Q DOYLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Robert GittingsROBERT GITTINGS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas H GoldenTHOMAS H GOLDEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Edward D HerlihyEDWARD D HERLIHY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Donna Kalajian LaganiDONNA KALAJIAN LAGANI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Arthur J MahonARTHUR J MAHON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lynn C MartinLYNN C MARTIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael E MartinMICHAEL E MARTIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Timothy C MucciaTIMOTHY C MUCCIA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James M NaughtonJAMES M NAUGHTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ponchitta PiercePONCHITTA PIERCE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
L Christopher QuickL CHRISTOPHER QUICK
TRUSTEE (START 7/23/25)
- Total calculated
- $0
- Hours/week
- 1
-
Patricia A QuickPATRICIA A QUICK
TRUSTEE (THRU 5/2025)
- Total calculated
- $0
- Hours/week
- 1
-
Thomas C QuickTHOMAS C QUICK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas J ReidTHOMAS J REID
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mo RoccaMO ROCCA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Armando Rodriguez JrARMANDO RODRIGUEZ JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Stephen G Rooney EsqSTEPHEN G ROONEY ESQ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Frederic V SalernoFREDERIC V SALERNO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Christine H SchwarzmanCHRISTINE H SCHWARZMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Melanie ShugartMELANIE SHUGART
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Martin J SullivanMARTIN J SULLIVAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Walter S Tomenson IIIWALTER S TOMENSON III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bishop Edmund J WhalenBISHOP EDMUND J WHALEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jill LloydJILL LLOYD
EXECUTIVE DIRECTOR
- Total calculated
- $301,316
- From this org
- $288,318
- From related orgs
- $0
- Other
- $12,998
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $287,157
- Bonus
- $0
- Other
- $1,161
- Deferred
- $0
- Nontaxable benefits
- $12,998
- Filer's total
- $301,316
-
Mary C BrownMARY C BROWN
CHIEF OF FINANCE AND OPERATIONS
- Total calculated
- $193,455
- From this org
- $151,598
- From related orgs
- $0
- Other
- $41,857
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $150,753
- Bonus
- $0
- Other
- $845
- Deferred
- $0
- Nontaxable benefits
- $41,857
- Filer's total
- $193,455
-
James M VarayJAMES M VARAY
DATA AND OPS. ANALYST
- Total calculated
- $171,079
- From this org
- $158,082
- From related orgs
- $0
- Other
- $12,997
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $157,540
- Bonus
- $0
- Other
- $542
- Deferred
- $0
- Nontaxable benefits
- $12,997
- Filer's total
- $171,079
-
Alberto RobainaALBERTO ROBAINA
CHIEF OF STAFF, SPECIAL CO
- Total calculated
- $147,675
- From this org
- $147,361
- From related orgs
- $0
- Other
- $314
- Hours/week
- 35
-
Kimberly BranachKIMBERLY BRANACH
DIRECTOR OF DEVELOPMENT
- Total calculated
- $185,694
- From this org
- $143,838
- From related orgs
- $0
- Other
- $41,856
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $143,720
- Bonus
- $0
- Other
- $118
- Deferred
- $0
- Nontaxable benefits
- $41,856
- Filer's total
- $185,694
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
CATHOLIC ELEMENTARY SCHOOL ASSOCIATION
$6,788,220
FINANCIAL AID GRANT
-
$3,585,000
FINANCIAL AID GRANT
-
THE CHILDREN'S SCHOLARSHIP FUND
$2,927,144
FINANCIAL AID GRANT
-
ASCENSION SCHOOL
$1,853,385
FINANCIAL AID GRANT
-
CARDINAL SPELLMAN
$983,160
FINANCIAL AID GRANT
-
$650,000
FINANCIAL AID GRANT
-
OUR LADY OF MT CARMEL SCHOOL
$515,804
FINANCIAL AID GRANT
-
HOLY FAMILY SCHOOL
$434,854
FINANCIAL AID GRANT
-
CARDINAL HAYES
$360,475
FINANCIAL AID GRANT
-
SACRED HEART HIGH
$302,615
FINANCIAL AID GRANT
The 10 largest by cash amount. The API serves every itemized grant.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
ARCHDIOCESE OF NEW YORK
501(C)(3) · RELIGIOUS · NY
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 July 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611969349300021
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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