Civic Intelligence

South Central Scholars Foundation

990 • Fiscal year 2014 • EIN 20-2820261

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 23, 2015

Organization ProfileWWW.SOUTHCENTRALSCHOLARS.ORG

View Organization Page

29000 South Western Ave Suite 207Rancho Palos Verdes, CA 90275

(310) 833-1670

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

21st percentile

0.01x

Higher debt load relative to revenue than 21% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

68th percentile

10%

Higher net margin than 68% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

73rd percentile

$107,196

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

77th percentile

23%

Faster revenue growth than 77% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$1,654,203

Up $171,288 (+12%) from 2013

Net Assets

Up

$1,633,503

Up $163,719 (+11%) from 2013

Liabilities

Up

$20,700

Up $7,569 (+58%) from 2013

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin68th percentile

Revenue

Up

$1,785,015

Up $328,305 (+23%) from 2013

Expenses

Up

$1,600,405

Up $562,219 (+54%) from 2013

Net Income

Down

$184,610

Down $233,914 (-56%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $829,143Liabilities 2010: $7,114Net Assets 2010: $822,0292010Assets 2011: $938,383Liabilities 2011: $7,536Net Assets 2011: $930,8472011Assets 2012: $1,121,174Liabilities 2012: $53,044Net Assets 2012: $1,068,1302012Assets 2013: $1,482,915Liabilities 2013: $13,131Net Assets 2013: $1,469,7842013Assets 2014: $1,654,203Liabilities 2014: $20,700Net Assets 2014: $1,633,5032014Assets 2015: $1,722,973Liabilities 2015: $26,924Net Assets 2015: $1,696,0492015Assets 2016: $1,713,576Liabilities 2016: $36,670Net Assets 2016: $1,676,9062016

Highlighted filing

2014

Assets$1,654,203
Liabilities$20,700
Net Assets$1,633,503
Open 2014 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $955,079Expenses 2010: $742,072Net Income 2010: $213,0072010Revenue 2011: $952,105Expenses 2011: $836,206Net Income 2011: $115,8992011Revenue 2012: $1,274,766Expenses 2012: $1,142,913Net Income 2012: $131,8532012Revenue 2013: $1,456,710Expenses 2013: $1,038,186Net Income 2013: $418,5242013Revenue 2014: $1,785,015Expenses 2014: $1,600,405Net Income 2014: $184,6102014Revenue 2015: $2,000,702Expenses 2015: $1,929,435Net Income 2015: $71,2672015Revenue 2016: $2,075,767Expenses 2016: $2,095,388Net Income 2016: -$19,6212016

Highlighted filing

2014

Revenue$1,785,015
Expenses$1,600,405
Net Income$184,610
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 23, 2015
Return Version
2014v5.0
Gross Receipts
$1,863,732
Mission and Program Overview

Mission

The mission of South Central Scholars is to help highly motivated, underserved students break the cycle of marginalization and reach success in college, career, and beyond.

See page ii, part iii, line i

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$771,368$1,061,633▲ $290,265
Investments in Publicly Traded Securities$518,265$525,183▲ $6,918
Savings and Temporary Cash Investments$20,558$45,729▲ $25,171
Pledges and Grants Receivable$162,900$12,500▼ $150,400
Prepaid Expenses and Deferred Charges$5,378$5,381▲ $3
Land, Buildings, and Equipment, Net$1,482$813▼ $669
Total Assets$1,482,915$1,654,203▲ $171,288
Other Assets Total$2,964$2,964→ $0
Liabilities
Accounts Payable and Accrued Expenses$13,131$20,700▲ $7,569
Total Liabilities$13,131$20,700▲ $7,569
Net Assets / Fund Balance
Unrestricted Net Assets$1,069,784$1,433,503▲ $363,719
Temporarily Rstr Net Assets$400,000$200,000▼ $200,000
Total Net Assets Fund Balance$1,469,784$1,633,503▲ $163,719
Total Liabilities and Net Assets / Fund Balance$1,482,915$1,654,203▲ $171,288

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$813$9,517$10,330
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joey ShanahanExecutive DirectorFT$100,000$7,196$107,196
Robert WinstonPresident of Student ServiFT$81,525-$81,525

Board Members and Trustees

NameTitle
James T London MdChairman
Alexander RubalcavaBoard Member
Brian DepersiaBoard Member
Brian MasseyBoard Member
Cassandra RoyBoard Member
Doug WoodruffBoard Member
Gayle HolcombBoard Member
Jason RednourBoard Member
Jeff WeissBoard Member
Joan HermanBoard Member
Kari Van GundyBoard Member
Michael QuickBoard Member
Paul BlavinBoard Member
Phyllis MonroeBoard Member
Ramsey Jay JrBoard Member
Rob VickeryBoard Member
Robert FunariBoard Member
Samuel GarrisonBoard Member
Stuart LinerBoard Member
William O McclureBoard Member
Zelda HarrisonBoard Member
Masai MintersBaord Member
Patricia LondonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,757,699
Program Service Revenue
$0
Investment Income
$27,316
Other Revenue
$0
All Other Contributions
$1,564,295
Change in Net Assets
$184,610

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,785,015
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-13,272
Total Revenue per Audited Statements
$1,771,743
Total Revenue per Form 990
$1,785,015
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$656,892
Other Expenses$562,238
Salaries, Compensation, and Employee Benefits$381,275
Total Fundraising Expense$33,114
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$656,892--$656,892
Current Officers, Directors, Trustees, and Key Employees$125,220$36,305$20,000$181,525
Other Salaries and Wages$150,415$21,281$1,000$172,696
Office Expenses$20,987$14,691$6,296$41,974
Occupancy-$41,652-$41,652
Information Technology-$37,188-$37,188
Insurance$18,150$10,697$1,410$30,257
Payroll Taxes$20,561$4,599$1,894$27,054
Fees for Services Accounting-$16,792-$16,792
Travel$4,347--$4,347
Fees for Services Other-$1,951$2,029$3,980
Other Expenses$3,636$3,114$485$3,114
Depreciation Depletion-$669-$669
Total Functional Expenses$1,377,625$189,666$33,114$1,600,405

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,608,024
Expenses per Audited Statements$1,600,405
Total Expenses per Form 990$1,600,405
Expenses Not Reported on Form 990$7,619
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$66,267
Fundraising Gross Income$66,267
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$259,671$66,267$66,267$0
Total Events$259,671$66,267$66,267$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“James and patricia london are married and are both on the board of directors. David and evelyn hou are married and are both on the board of directors.s”

Form 990, Part VI, Section B, Line 11

“The form 990 is reviewed by the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 15

“A thorough review of comparable salary information (nonprofit salary surveys, online data, independent consultant, employment job boards, etc. ) is made by the executive committee prior to setting a compensation range for each position.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents available to the public upon request. The organization's financial statements and form 990 are available on the organization's website.”

Filing and Contact Details

Filer

Filer Name
South Central Scholars Foundation
EIN
20-2820261
Phone
3108331670
Address
29000 SOUTH WESTERN AVE SUITE 207, RANCHO PALOS VERDES, CA 90275

Signing Officer

Name
James T London Md
Title
Executive Director
Phone
3108331670
Signed
2015-08-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joey Shanahan
Formed
2005
Legal Domicile
CA
Voting Board Members
23
Independent Board Members
23
Employees
9
Volunteers
200

Preparer

Firm
Rossi Llp
Address
400 OCEANGATE SUITE 1000, LONG BEACH, CA 90802
Preparer
Lewis Finkelstein CPA
Phone
5624953325
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization is a not-for-profit organization that is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and is also exempt from state of california franchise taxes under section 23701(d) of the california revenue and taxation code, whereby only unrelated business income, as defined by section 509(a)(1) of the internal revenue code, is subject to federal income tax. The organization does not believe that during the years ended december 31, 2014 and 2013 that it had unrelated business income and accordingly, no provision for income taxes has been recorded in the accompanying financial statements. The organization follows the provisions of fasb asc 740, income taxes and related subsections. Accordingly, the organization accounts for uncertain tax positions by recording a liability for unrecognized tax benefits resulting from uncertain tax positions taken, or expected to be taken, in its tax returns. The organization recognizes the effect of income tax positions only if those positions are more likely than not of being sustained by the appropriate taxing authorities. The organization does not believe that its financial statements include any uncertain tax positions and accordingly, has not recognized any liability for unrecognized tax benefits in the accompanying financial statements.”

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IRS990/Desc0THE ORGANIZATION PROVIDES COLLEGE ACCESS AND SUCCESS PROGRAMMINGTO DISADVANTAGED STUDENTS FROM INNER CITY COMMUNITIES IN LOSANGELES. PROGRAMS INCLUDE COLLEGE OUTREACH, SCHOLARSHIPS,MENTORING, JOB AND INTERNSHIP PLACEMENT, AND PROFESSIONAL/ACADEMICDEVELOPMENTS WORKSHOPS AND SEMINARS.THE ORGANIZATION'S SCHOLARSHIPS ARE INTENDED TO CLOSE SHORTFALLSBETWEEN THE AMOUNT OF MONEY OFFERED IN THE FINANCIAL PACKAGE FROMA UNIVERSITY (GRANTS, LOANS, AND WORK STUDY) AND THE ACTUAL COSTOF A STUDENT'S COLLEGE EDUCATION. IN SOME CASES, THESE SHORTFALLSWOULD PREVENT STUDENTS FROM ATTENDING COLLEGE ALTOGETHER.SCHOLARSHIPS RANGE BETWEEN $1,000 TO $3,000 PER SCHOLAR, AND ARERENEWABLE FOR UP TO 6 YEARS. SCS HAS AN ADDITIONAL BUDGET FOR STIPENDS TO STUDENTS TO PARTICIPATE FOR THE FOLLOWING USES:AIRFARE AND TRAVEL EXPENSES,INTERNSHIP STIPENDS, STUDY ABROAD STIPENDS,AND GRADUATE SCHOOL PREPARATION CLASSES AND TEST FEES (MCAT, LSAT, GRE, ETC.).
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BAORD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23PRESIDENT OF STUDENT SERVI
IRS990/Form990PartVIISectionAGrp/TitleTxt24EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02005
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
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IRS990/FundraisingDirectExpensesAmt066267
IRS990/FundraisingGrossIncomeAmt066267
IRS990/GainOrLossGrp/SecuritiesAmt012781
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt023
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IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/GrossReceiptsAmt01863732
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IRS990/IndoorTanningServicesInd00
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IRS990/InsuranceGrp/ManagementAndGeneralAmt010697
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IRS990/IRPDocumentW2GCnt00
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF THE SOUTH CENTRAL SCHOLARS FOUNDATION (SCS) IS TO ASSIST HIGHLY MOTIVATED, TALENTED HIGH SCHOOL STUDENTS FROM DISADVANTAGED COMMUNITIES OF SOUTH CENTRAL LOS ANGELES COUNTY ACHIEVE ACADEMIC AND PERSONAL SUCCESS IN COLLEGE AND BEYOND. THROUGH SCHOLARSHIPS, JOBS, INTERNSHIPS, AND MENTORSHIP, THE STUDENTS OF SOUTH CENTRAL SCHOLARS DEVELOP THEIR FULL POTENTIAL AND ARE BECOMING THE FUTURE LEADERS, BOTH WITHIN SCS AND IN THE BROADER COMMUNITY. OUR CURRENT STUDENTS ARE BECOMING MEMBERS OF OUR ENLARGING COMMUNITY OF VOLUNTEERS AND ARE SERVING AS A RESOURCE TO FUTURE STUDENTS FROM SOUTH CENTRAL LOS ANGELES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt012781
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt012781
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-20891
IRS990/NondeductibleContributionsInd00
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt014691
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc2LICENSES & PERMITS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0727
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IRS990/OtherExpensesGrp/TotalAmt14848
IRS990/OtherExpensesGrp/TotalAmt23114
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IRS990/PayrollTaxesGrp/FundraisingAmt01894
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IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt045729
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01436037
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01268075
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0938668
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0795863
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt023712
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt012744
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt013392
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt078460
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.58790

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,654,203
Liabilities
$20,700
Net assets
$1,633,503
Revenue
$1,785,015
Expenses
$1,600,405
Net income
$184,610
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$1.71$0.04$1.68$2.08$2.10$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.72$0.03$1.70$2.00$1.93$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.65$0.02$1.63$1.79$1.60$0.18
2013Summary only. Only limited summary data is available for this year.$1.48$0.01$1.47$1.46$1.04$0.42
2012Summary only. Only limited summary data is available for this year.$1.12$0.05$1.07$1.27$1.14$0.13
2011Summary only. Only limited summary data is available for this year.$0.94$0.01$0.93$0.95$0.84$0.12
2010Summary only. Only limited summary data is available for this year.$0.83$0.01$0.82$0.96$0.74$0.21