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Nonprofiteer
← YMA FASHION SCHOLARSHIP FUND

Form 990 for tax year 2024

Filed by YMA FASHION SCHOLARSHIP FUND.

Totals

Total revenue
$4,801,201
Total expenses
$5,393,628
Contributions and grants received
$4,234,050
Grants paid
$1,978,332
Program service revenue
$0
Investment income
$1,397,744
Other revenue
-$830,593
Total assets, end of year
$25,915,524
Total liabilities, end of year
$719,407
Net assets or fund balances, end of year
$25,196,117
Program services expenses (Part IX)
$4,239,137
Management and general expenses
$514,317
Fundraising expenses
$640,174
Program service expenses (Part III)
$4,239,137

Program services were 78.6% 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

    $2,432,000

  • 1f · All other contributions, gifts and grants

    $1,802,050

  • 3 · Investment income

    total $973,306 · excluded $973,306

  • 7a · Gross sales of assets other than inventory

    securities $35,836,883

  • 7b · Less cost or other basis and sales expenses

    securities $35,412,445

  • 7c · Gain or loss

    securities $424,438

  • 7d · Net gain or loss

    total $424,438 · excluded $424,438

  • 8a · Fundraising events: gross income

    $166,821

  • 8a · Fundraising events: contributions included on line 1c

    $2,432,000

  • 8b · Fundraising events: direct expenses

    $997,414

  • 8c · Net income from fundraising events

    total -$830,593 · excluded -$830,593

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,978,332 · program services $1,978,332

  • 5 · Compensation of officers, directors and key employees

    total $756,998 · program services $512,449 · management and general $131,983 · fundraising $112,566

  • 7 · Other salaries and wages

    total $770,224 · program services $553,512 · management and general $56,135 · fundraising $160,577

  • 9 · Other employee benefits

    total $121,188 · program services $89,536 · management and general $8,764 · fundraising $22,888

  • 10 · Payroll taxes

    total $100,816 · program services $72,314 · management and general $10,884 · fundraising $17,618

  • 11b · Fees: legal

    total $12,938 · management and general $12,938

  • 11c · Fees: accounting

    total $125,468 · program services $25,093 · management and general $75,281 · fundraising $25,094

  • 11e · Fees: professional fundraising services

    total $18,256 · fundraising $18,256

  • 11f · Fees: investment management

    total $102,327 · management and general $102,327

  • 11g · Fees: other

    total $596,036 · program services $381,401 · management and general $75,951 · fundraising $138,684

  • 12 · Advertising and promotion

    total $272,066 · program services $179,489 · fundraising $92,577

  • 13 · Office expenses

    total $48,935 · program services $9,392 · management and general $16,078 · fundraising $23,465

  • 14 · Information technology

    total $126,198 · program services $106,180 · management and general $9,569 · fundraising $10,449

  • 16 · Occupancy

    total $62,330 · program services $62,330

  • 17 · Travel

    total $40,428 · program services $21,339 · management and general $6,363 · fundraising $12,726

  • 19 · Conferences, conventions and meetings

    total $26,637 · program services $26,637

  • 22 · Depreciation, depletion and amortization

    total $11,666 · program services $3,889 · management and general $3,888 · fundraising $3,889

  • 23 · Insurance

    total $6,926 · program services $1,385 · management and general $4,156 · fundraising $1,385

  • 24a · Other expenses: EDUCATOR FORUM

    total $133,737 · program services $133,737

  • 24b · Other expenses: SCHOLAR MENTORING

    total $49,000 · program services $49,000

  • 24c · Other expenses: PROF. DEVELOPMENT

    total $25,500 · program services $25,500

  • 24d · Other expenses: ALUMNI PROGRAMS

    total $7,622 · program services $7,622

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $181,884 · end of year $106,606

  • 2 · Savings and temporary cash investments

    beginning of year $97,669 · end of year $517,022

  • 3 · Pledges and grants receivable

    beginning of year $97,500 · end of year $233,091

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,355 · end of year $99,519

  • 10a · Land, buildings and equipment: cost or other basis

    $34,998

  • 10b · Land, buildings and equipment: accumulated depreciation

    $31,109

  • 10c · Land, buildings and equipment, net

    beginning of year $15,555 · end of year $3,889

  • 11 · Investments: publicly traded securities

    beginning of year $19,710,916 · end of year $9,894,683

  • 12 · Investments: other securities

    beginning of year $6,033,024 · end of year $15,049,514

  • 15 · Other assets

    beginning of year $0 · end of year $11,200

  • 17 · Accounts payable and accrued expenses

    beginning of year $749,527 · end of year $619,407

  • 19 · Deferred revenue

    beginning of year $0 · end of year $100,000

  • 27 · Net assets without donor restrictions

    beginning of year $25,306,376 · end of year $25,096,117

  • 28 · Net assets with donor restrictions

    beginning of year $100,000 · end of year $100,000

Mission and programs · 2024

Mission

TO ADVANCE THE FASHION INDUSTRY BY ENCOURAGING GIFTED AND ENTERPRISING YOUNG PEOPLE TO PURSUE CAREERS IN DESIGN, MERCHANDISING, RETAILING AND BUSINESS, ENSURING THE INDUSTRY WILL CONTINUE TO ATTRACT DEDICATED AND CAPABLE INDIVIDUALS.

Activities or mission (Part I)

TO PROMOTE EDUCATION OF THE FASHION ARTS AND BUSINESS BY GRANTING SCHOLARSHIPS TO TALENTED STUDENTS AND FACILITATING INTERNSHIPS, MENTORSHIPS, AND CAREER PROGRAMS.

  • AS THE PREMIER EDUCATIONAL FASHION NON-PROFIT IN THE UNITED STATES, THE FASHION SCHOLARSHIP FUND SEEKS TO IDENTIFY AND CREATE CAREER OPPORTUNITIES FOR YOUNG PEOPLE WORLDWIDE. THE ORGANIZATION GRANTS THE SINGLE LARGEST SUM OF MONEY AND TOTAL NUMBER OF SCHOLARSHIPS IN THE ENTIRE FASHION COMMUNITY, SUPPLEMENTING FINANCIAL SUPPORT WITH A RICH CURRICULUM OF COMPREHENSIVE, INDUSTRY-LEADING PROGRAMS FOR SCHOLARS, OFFERING HANDS-ON EXPERIENCE WITH THE WORLD'S TOP FASHION COMPANIES AND MOST INFLUENTIAL LEADERS.

    Expenses $4,239,137 · Grants $1,978,332

As filed on the 2024 return.

Listed in Part VII

  • PETER ARNOLD

    EXECUTIVE DIRECTOR, SECRETARY

    Total calculated
    $581,989
    From this org
    $547,415
    From related orgs
    $0
    Other
    $34,574
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $335,415
    Bonus
    $212,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,574
    Filer's total
    $581,989

  • JOHN TIGHE

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • MARC MASTRONARDI

    DIRECTOR (CHAIRMAN THRU APR 2025)

    Total calculated
    $0
    Hours/week
    2

  • AMANDA SMITH

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • NATA DVIR

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • YEHUDA SHMIDMAN

    TREASURER (VP THRU JUN 2025)

    Total calculated
    $0
    Hours/week
    2

  • HEATH GOLDEN

    DIRECTOR (TREASURER THRU JUN 2025)

    Total calculated
    $0
    Hours/week
    2

  • MIKE ALIC

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SAM ARCHIBALD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAVID BASSUK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KRISTY CASTELLUCCIO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CAROLYN D'ANGELO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • HOWARD FELLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MIKE FRALIX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIERA GANANN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ALEX GRINBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CELESTE GUDAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STACIE HENDERSON-CAPECE

    MINUTOLO DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRITTANY KATZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAVID KATZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • HILDY KURYK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MATT LAUKAITIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JESSICA LOMAX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MECCA MITCHELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KENNETH NOLAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • DAN ORWIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KRISTIN REHBERG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PAUL ROSENGARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • HEATHER ROUSSEL

    DIRECTOR THRU APR 2025

    Total calculated
    $0
    Hours/week
    2

  • EMILIE RUBINFELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL SETOLA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STANLEY SILVERSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • GENA SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHIP THOMPSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LANA TODOROVICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER VECCHIO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARRISA WILSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHELLE WLAZLO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MELISSA WORTH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MARIE COLLETTA

    DIRECTOR OF ED PROGRAMS

    Total calculated
    $176,990
    From this org
    $151,250
    From related orgs
    $0
    Other
    $25,740
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,250
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $25,740
    Filer's total
    $176,990

  • ANYA KAPLAN

    DIRECTOR OF PARTNERSHIPS

    Total calculated
    $127,037
    From this org
    $115,901
    From related orgs
    $0
    Other
    $11,136
    Hours/week
    40

  • ALYSSA ZINOLA

    DIRECTOR, EVENTS & SPECIAL PROJECTS

    Total calculated
    $129,244
    From this org
    $129,244
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
EXECUTIVE DIRECTOR, PETER ARNOLD RECEIVED A PERFORMANCE BASED BONUS WITHIN THE APPROVED BUDGET, AS REPORTED ON SCHEDULE J, PART II, COLUMN B(II) AND INCLUDED ON FORM 990, PART VII, COLUMN (D).

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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
15 June 2026
IRS schema version
2024v5.5
Source object
202611669349300121

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