Civic Intelligence

Crosby Scholars Community Partnership

990 • Fiscal year 2021 • EIN 31-1523230

Jul 01, 2020 to Jun 30, 2021 • Filed on May 13, 2022

2701 University ParkwayWinstonsalem, NC 27105

(336) 725-5371

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.01x

Higher debt load relative to assets than 73% of similar nonprofits.

2021 filings • NTEE B82 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

66th percentile

0.01x

Higher debt load relative to revenue than 66% of similar nonprofits.

2021 filings • NTEE B82 • $1M-$5M nonprofits • Source year 2021

Net Margin

58th percentile

40%

Higher net margin than 58% of similar nonprofits.

2021 filings • NTEE B82 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

98th percentile

$411,515

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2021 filings • NTEE B82 • $1M-$5M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Assets

Up

$4,876,190

Up $1,219,873 (+33%) from 2015

Net Assets

Up

$4,810,748

Up $1,217,361 (+34%) from 2015

Liabilities

Up

$65,442

Up $2,512 (+4.0%) from 2015

Revenue

Up

$4,843,303

Up $2,664,694 (+122%) from 2015

Expenses

Up

$2,882,542

Up $1,296,771 (+82%) from 2015

Net Income

Up

$1,960,761

Up $1,367,923 (+231%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2015: $3,656,317Liabilities 2015: $62,930Net Assets 2015: $3,593,3872015Assets 2021: $4,876,190Liabilities 2021: $65,442Net Assets 2021: $4,810,7482021Assets 2022: $5,853,564Liabilities 2022: $58,013Net Assets 2022: $5,795,5512022Assets 2023: $7,483,379Liabilities 2023: $72,575Net Assets 2023: $7,410,8042023Assets 2024: $8,160,391Liabilities 2024: $130,229Net Assets 2024: $8,030,1622024Assets 2025: $8,825,082Liabilities 2025: $146,284Net Assets 2025: $8,678,7982025

Highlighted filing

2021

Assets$4,876,190
Liabilities$65,442
Net Assets$4,810,748

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $2,178,609Expenses 2015: $1,585,771Net Income 2015: $592,8382015Revenue 2021: $4,843,303Expenses 2021: $2,882,542Net Income 2021: $1,960,7612021Revenue 2022: $3,974,703Expenses 2022: $2,882,378Net Income 2022: $1,092,3252022Revenue 2023: $4,732,064Expenses 2023: $3,225,693Net Income 2023: $1,506,3712023Revenue 2024: $3,913,641Expenses 2024: $3,507,169Net Income 2024: $406,4722024Revenue 2025: $3,458,907Expenses 2025: $3,972,996Net Income 2025: -$514,0892025

Highlighted filing

2021

Revenue$4,843,303
Expenses$2,882,542
Net Income$1,960,761
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 13, 2022
Return Version
2020v4.0
Gross Receipts
$4,906,168
Mission and Program Overview

Mission

The crosby scholars program assists public middle and high school students in forsyth county by preparing them for successful college enrollment.

Prepare public school students in forsyth county for successful college enrollment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$338,334$2,152,078▲ $1,813,744
Investments Other Securities$1,093,817$1,278,734▲ $184,917
Cash and Non-Interest-Bearing Accounts$1,301,235$1,278,048▼ $23,187
Savings and Temporary Cash Investments$49,711$74,717▲ $25,006
Land, Buildings, and Equipment, Net$38,860$45,636▲ $6,776
Accounts Receivable$25,800$31,726▲ $5,926
Prepaid Expenses and Deferred Charges$14,005$10,141▼ $3,864
Total Assets$2,862,858$4,876,190▲ $2,013,332
Other Assets Total$1,096$5,110▲ $4,014
Liabilities
Unsecured Notes Loans Payable$228,300--
Accounts Payable and Accrued Expenses$42,463$65,442▲ $22,979
Total Liabilities$270,763$65,442▼ $205,321
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,188,106$4,183,167▲ $1,995,061
Net Assets Without Donor Restrictions$403,989$627,581▲ $223,592
Total Net Assets Fund Balance$2,592,095$4,810,748▲ $2,218,653
Total Liabilities and Net Assets / Fund Balance$2,862,858$4,876,190▲ $2,013,332

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$45,636$85,293$130,929
Other Securities$1,278,734--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,093,817-▲ $269,351$72,975$1,278,734
2019$1,202,550-▼ $15,673$81,520$1,093,817
2018$1,203,217-▲ $53,658$54,325$1,202,550
2017$1,140,473$30,000▲ $77,144$44,400$1,203,217
2016$790,801$294,594▲ $97,421$42,343$1,140,473
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mona LovettExecutive DiFT$115,802$17,557$133,359

Board Members and Trustees

NameTitle
Jason WenkerChairman
Ginger SaltVice Chairma
Anne GarveyDirector
Anne WestbrookDirector
Barbara Maida-stolleDirector
Chris FoxDirector
David HoldenDirector
Don GeletkoDirector
Israel SuarezDirector
Ivey BrownDirector
Joan HealyDirector
John WilsonDirector
Joyce CarsonDirector
Joyce KohfeldtDirector
Mark ReeceDirector
Natalie Jensen-nollDirector
Omari SimmonsDirector
Oscar SantosDirector
Patricia GaineyDirector
Paul Fulton IiiDirector
Phillip PetrosDirector
Tricia McmanusDirector
Art GibelEx-officio
Anc NewmanImmediate Pa
Jeff HibbardSecretary
Danny NewcombTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,543,131
Program Service Revenue
$1,100,000
Investment Income
$989
Other Revenue
$199,183
All Other Contributions
$2,588,056
Change in Net Assets
$1,960,761

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,843,303
Revenue Not Reported on Form 990
$372,757
Total Revenue per Audited Statements
$5,216,060
Total Revenue per Form 990
$4,843,303
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,419,028
Grants and Similar Amounts Paid$967,542
Other Expenses$380,972
Total Fundraising Expense$333,055
Professional Fundraising Fees$115,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$753,444$159,523$127,104$1,040,071
Grants to Domestic Individuals$967,542--$967,542
Current Officers, Directors, Trustees, and Key Employees$97,330$24,300$17,727$139,357
Fees for Services Professional Fundraising--$115,000$115,000
Other Employee Benefits$59,185$32,723$17,134$109,042
Payroll Taxes$60,585$14,485$11,192$86,262
Office Expenses$64$58,735-$58,799
All Other Expenses$46,053--$46,053
Fees for Services Other$11,309$20,293$13,588$45,190
Pension Plan Contributions$24,043$13,293$6,960$44,296
Other Expenses$24,868$10,206$24,350$24,350
Information Technology-$20,614-$20,614
Fees for Services Accounting-$19,095-$19,095
Depreciation Depletion-$14,264-$14,264
Advertising-$5,279-$5,279
Insurance-$4,139-$4,139
Conferences and Meetings$1,090--$1,090
Travel$459--$459
Total Functional Expenses$2,152,538$396,949$333,055$2,882,542

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,997,407
Expenses per Audited Statements$2,882,542
Total Expenses per Form 990$2,882,542
Expenses Not Reported on Form 990$114,865
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$249,500
Professional Fundraising Fees$115,000
Fundraising Direct Expenses$62,865

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$327,110$249,500$36,153$213,347
Total Events$327,110$249,500$62,865$186,635
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 35% controlled entity
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Goodwill industries of northwest north carolina is the sole member of the organization and has all the rights and privileges provided to a voting member.

Form 990, Page 6, Part VI, Line 7A

Goodwill industries of northwest north carolina has the right to approve persons selected for the board of directors.

Form 990, Page 6, Part VI, Line 7B

Goodwill industries of northwest north carolina has the right to approve decisions made by the board of directors.

Form 990, Page 6, Part VI, Line 11B

The executive director emails the 990 to all board members and the 990 is reviewed by the executive committee. The executive committee's final approval is needed before the return can be filed. The 990 is signed by the treasurer of the organization.

Form 990, Page 6, Part VI, Line 12C

We asked each board member to sign a conflict of interests and reasonable compensation policy statement. The executive director monitors this process and reports any potential conflicts to the governance committee.

Form 990, Page 6, Part VI, Line 15A

The board generally authorizes the executive committee to determine compensation for the executive director. We do an internet search on similar organizations with an executive director with similar credentials and experience to review the average salary. After doing this search, it was determined that the average salary for an executive director with comparable education and experience in north carolina was paid an average salary that is close to the salary for the executive director.

Form 990, Page 6, Part VI, Line 19

The organization makes it governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Crosby Scholars Community
EIN
31-1523230
Phone
3367255371
Address
2701 UNIVERSITY PARKWAY, WINSTONSALEM, NC 27105

Signing Officer

Name
David Holden
Title
Treasurer
Phone
3367255371
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mona Lovett
Formed
1997
Legal Domicile
Nc
Voting Board Members
25
Independent Board Members
25
Employees
62
Volunteers
200

Preparer

Firm
Butler Burke Llp
Address
100 CLUB OAKS COURT SUITE A, WINSTONSALEM, NC 27104
Preparer
Jane R Potter
Phone
3367682310
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

The crosby scholars program provides last dollar grant assistance to graduating seniors and college crosby scholars who successfully complete the program. Grants are awarded for up to 1200 for up to four years of college to students who successfully complete the program as high school seniors, achieve a 2.0 cumulative gpa/qpa and demonstrate financial need as determined by results from the fafsa and the program's need analysis formula. Crosby scholars who are awarded a last dollar grant are those students who have been offered admission to a program of study, they have completed the fafsa, they have received an award letter from the college they plan to attend and they have applied for a last dollar grant. The students who meet these criteria receive the last dollar grant because they have not received enough financial aid to cover the cost of attendance in that particular school year. The program helps students prepare for college by encouraging them to make good decisions, by helping them develop strong academic skills and by helping them to understand the requirements for college admission early. With this guidance, students can prepare for college enrollment and scholarship/financial aid opportunities. Students can join the crosby scholars program as early as 6th grade to begin the process of preparing for college. Students attend workshops called saturday academy on college campuses. The saturday academy workshops include topics such as anger management, building self-esteem, speech and communication, time management, study skills, test taking skills, conflict resolution, preparing for the sat, career exploration, college admissions, scholarships, financial aid and college survival skills. These classes help students develop the foundation for success that will help them become better prepared for college. Students in grades 9-11 meet monthly with volunteers to better prepare for successful college enrollment, and senior crosby scholars meet one on one with an advisor to help with the senior year college application and scholarship process.

Form 990, Page 12, Part XII, Line 2C

The oversight/selection process has not changed from the prior year.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The organization's intended use of endowment funds is used to support program operations, programs and scholarships related to the delivery of services for the crosby scholars community partnership.

Schedule D, Page 3, Part X

The organization is a not-for-profit organization and is exempt from income taxes under section 501(c)(3) of the internal revenue code. Accordingly, income tax expense is limited to activities that are deemed by the internal revenue service to be unrelated to their exempt purpose. The organization's primary tax positions relate to its status as a not- for-profit entity exempt from income taxes and classification of activities related to its exempt purpose. It is the opinion of management that the organization has no uncertain tax positions that would be subject to change upon examination. The organization is required to file a federal exempt organization tax return (form 990) annually to retain its exempt status. The organization is also required to file an exempt organization business income tax return (form 990-t) for any year unrelated business income exceeds 1,000. The organization's form 990 filings are generally subject to examination by the internal revenue service for three years after they are filed.

Schedule D, Page 4, Part XI, Line 2D

Fundraising expenses netted with revenue 62,865

Schedule D, Page 4, Part XII, Line 2D

Fundraising expenses netted with revenue 62,865

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IRS990/Desc0THE CROSBY SCHOLARS PROGRAM PROVIDES LAST DOLLAR GRANT ASSISTANCE TO GRADUATING SENIORS AND COLLEGE CROSBY SCHOLARS WHO SUCCESSFULLY COMPLETE THE PROGRAM. GRANTS ARE AWARDED FOR UP TO 1200 FOR UP TO FOUR YEARS OF COLLEGE TO STUDENTS WHO SUCCESSFULLY COMPLETE THE PROGRAM AS HIGH SCHOOL SENIORS, ACHIEVE A 2.0 CUMULATIVE GPA/QPA AND DEMONSTRATE FINANCIAL NEED AS DETERMINED BY RESULTS FROM THE FAFSA AND THE PROGRAM'S NEED ANALYSIS FORMULA. CROSBY SCHOLARS WHO ARE AWARDED A LAST DOLLAR GRANT ARE THOSE STUDENTS WHO HAVE BEEN OFFERED ADMISSION TO A PROGRAM OF STUDY, THEY HAVE COMPLETED THE FAFSA, THEY HAVE RECEIVED AN AWARD LETTER FROM THE COLLEGE THEY PLAN TO ATTEND AND THEY HAVE APPLIED FOR A LAST DOLLAR GRANT. THE STUDENTS WHO MEET THESE CRITERIA RECEIVE THE LAST DOLLAR GRANT BECAUSE THEY HAVE NOT RECEIVED ENOUGH FINANCIAL AID TO COVER THE COST OF ATTENDANCE IN THAT PARTICULAR SCHOOL YEAR. THE PROGRAM HELPS STUDENTS PREPARE FOR COLLEGE BY ENCOURAGING THEM TO MAKE GOOD DECISIONS, BY HELPING THEM DEVELOP STRONG ACADEMIC SKILLS AND BY HELPING THEM TO UNDERSTAND THE REQUIREMENTS FOR COLLEGE ADMISSION EARLY. WITH THIS GUIDANCE, STUDENTS CAN PREPARE FOR COLLEGE ENROLLMENT AND SCHOLARSHIP/FINANCIAL AID OPPORTUNITIES. STUDENTS CAN JOIN THE CROSBY SCHOLARS PROGRAM AS EARLY AS 6TH GRADE TO BEGIN THE PROCESS OF PREPARING FOR COLLEGE. STUDENTS ATTEND WORKSHOPS CALLED SATURDAY ACADEMY ON COLLEGE CAMPUSES. THE SATURDAY ACADEMY WORKSHOPS INCLUDE TOPICS SUCH AS ANGER MANAGEMENT, BUILDING SELF-ESTEEM, SPEECH AND COMMUNICATION, TIME MANAGEMENT, STUDY SKILLS, TEST TAKING SKILLS, CONFLICT RESOLUTION, PREPARING FOR THE SAT, CAREER EXPLORATION, COLLEGE ADMISSIONS, SCHOLARSHIPS, FINANCIAL AID AND COLLEGE SURVIVAL SKILLS. THESE CLASSES HELP STUDENTS DEVELOP THE FOUNDATION FOR SUCCESS THAT WILL HELP THEM BECOME BETTER PREPARED FOR COLLEGE. STUDENTS IN GRADES 9-11 MEET MONTHLY WITH VOLUNTEERS TO BETTER PREPARE FOR SUCCESSFUL COLLEGE ENROLLMENT, AND SENIOR CROSBY SCHOLARS MEET ONE ON ONE WITH AN ADVISOR TO HELP WITH THE SENIOR YEAR COLLEGE APPLICATION AND SCHOLARSHIP PROCESS.
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