Civic Intelligence

Crosby Scholars Community Partnership

990 • Fiscal year 2023 • EIN 31-1523230

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 28, 2024

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

16th percentile

0.01x

Higher debt load relative to assets than 16% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Net Margin

87th percentile

32%

Higher net margin than 87% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$147,803

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Asset Growth

76th percentile

28%

Faster asset growth than 76% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

73rd percentile

19%

Faster revenue growth than 73% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2022 to 2023

Assets

Up

$7,483,379

Up $1,629,815 (+28%) from 2022

Net Assets

Up

$7,410,804

Up $1,615,253 (+28%) from 2022

Liabilities

Up

$72,575

Up $14,562 (+25%) from 2022

Revenue

Up

$4,732,064

Up $757,361 (+19%) from 2022

Expenses

Up

$3,225,693

Up $343,315 (+12%) from 2022

Net Income

Up

$1,506,371

Up $414,046 (+38%) from 2022

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

2023

Assets$7,483,379
Liabilities$72,575
Net Assets$7,410,804

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

2023

Revenue$4,732,064
Expenses$3,225,693
Net Income$1,506,371
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 28, 2024
Return Version
2022v5.0
Gross Receipts
$4,813,212
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$2,753,742$3,030,667▲ $276,925
Investments Other Securities$1,124,432$2,414,895▲ $1,290,463
Savings and Temporary Cash Investments$155,713$1,178,057▲ $1,022,344
Cash and Non-Interest-Bearing Accounts$1,759,537$326,359▼ $1,433,178
Accounts Receivable$1,675$52,500▲ $50,825
Land, Buildings, and Equipment, Net$40,907$43,189▲ $2,282
Prepaid Expenses and Deferred Charges$10,618$12,274▲ $1,656
Total Assets$5,853,564$7,483,379▲ $1,629,815
Other Assets Total$6,940$425,438▲ $418,498
Liabilities
Accounts Payable and Accrued Expenses$58,013$54,295▼ $3,718
Other Liabilities-$18,280-
Total Liabilities$58,013$72,575▲ $14,562
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,246,121$6,047,984▲ $801,863
Net Assets Without Donor Restrictions$549,430$1,362,820▲ $813,390
Total Net Assets Fund Balance$5,795,551$7,410,804▲ $1,615,253
Total Liabilities and Net Assets / Fund Balance$5,853,564$7,483,379▲ $1,629,815

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$43,189$119,272$162,461
Other Assets Org$5,776--
Other Securities$2,414,895--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,124,432-▲ $61,315$47,010$1,127,658
2021$1,278,734-▼ $94,827$46,780$1,124,432
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mona LovettExecutive DiFT$126,980$20,823$147,803
Revenue and Support

Revenue Composition

Contributions and Grants
$2,595,025
Program Service Revenue
$1,864,919
Investment Income
$48,145
Other Revenue
$223,975
All Other Contributions
$1,569,581
Change in Net Assets
$1,506,371

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,726,188
Revenue Not Reported on Financial Statements
$5,876
Revenue Not Reported on Form 990
$251,830
Total Revenue per Audited Statements
$4,978,018
Total Revenue per Form 990
$4,732,064
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,850,103
Grants and Similar Amounts Paid$874,345
Other Expenses$501,245
Total Fundraising Expense$269,095
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$983,073$191,217$167,967$1,342,257
Grants to Domestic Individuals$874,345--$874,345
Other Employee Benefits$81,474$46,927$38,144$166,545
Current Officers, Directors, Trustees, and Key Employees$106,961$24,972$21,524$153,457
Payroll Taxes$83,208$17,849$14,833$115,890
Fees for Services Other$42,121$51,820-$93,941
Office Expenses$2,371$70,149-$72,520
Pension Plan Contributions$35,200$20,274$16,480$71,954
Information Technology-$36,441-$36,441
Fees for Services Accounting-$28,440-$28,440
Depreciation Depletion-$19,291-$19,291
Travel$15,128--$15,128
Conferences and Meetings$14,248--$14,248
Other Expenses$13,861$15,309$10,147$13,861
All Other Expenses$13,236--$13,236
Advertising-$10,584-$10,584
Insurance-$7,620-$7,620
Fees for Service Investment Mgmnt Fees-$5,876-$5,876
Total Functional Expenses$2,409,829$546,769$269,095$3,225,693

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,362,765
Total Expenses per Form 990$3,225,693
Expenses per Audited Statements$3,219,817
Expenses Not Reported on Form 990$142,948
Expenses Not Reported on Financial Statements$5,876
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$287,938
Fundraising Direct Expenses$81,148
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$347,046$287,938$45,012$242,926
Total Events$347,046$287,938$81,148$206,790
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liabilities$18,280
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
Anne Westbrook
Title
Treasurer
Phone
3367255371
Signed
2024-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mona Lovett
Formed
1997
Legal Domicile
Nc
Voting Board Members
22
Independent Board Members
22
Employees
68
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.

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 81,148

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

Fundraising expenses netted with revenue 81,148

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
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