Civic Intelligence

Crosby Scholars Community Partnership

990 • Fiscal year 2024 • EIN 31-1523230

Jul 01, 2023 to Jun 30, 2024 • Filed on Mar 11, 2025

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

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2024 filings • NTEE B • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

20th percentile

0.03x

Higher debt load relative to revenue than 20% of similar nonprofits.

2024 filings • NTEE B • $5M-$10M nonprofits • Source year 2024

Net Margin

67th percentile

10%

Higher net margin than 67% of similar nonprofits.

2024 filings • NTEE B • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$155,910

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2024 filings • NTEE B • $5M-$10M nonprofits • Source year 2024

Asset Growth

60th percentile

9.0%

Faster asset growth than 60% of similar nonprofits.

2024 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

13th percentile

-17%

Faster revenue growth than 13% of similar nonprofits.

2024 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$8,160,391

Up $677,012 (+9.0%) from 2023

Net Assets

Up

$8,030,162

Up $619,358 (+8.4%) from 2023

Liabilities

Up

$130,229

Up $57,654 (+79%) from 2023

Revenue

Down

$3,913,641

Down $818,423 (-17%) from 2023

Expenses

Up

$3,507,169

Up $281,476 (+8.7%) from 2023

Net Income

Down

$406,472

Down $1,099,899 (-73%) from 2023

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

2024

Assets$8,160,391
Liabilities$130,229
Net Assets$8,030,162

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

2024

Revenue$3,913,641
Expenses$3,507,169
Net Income$406,472
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 11, 2025
Return Version
2023v6.0
Gross Receipts
$3,981,355
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
Investments Other Securities$2,414,895$3,658,403▲ $1,243,508
Pledges and Grants Receivable$3,030,667$2,602,745▼ $427,922
Savings and Temporary Cash Investments$1,178,057$712,618▼ $465,439
Cash and Non-Interest-Bearing Accounts$326,359$647,592▲ $321,233
Land, Buildings, and Equipment, Net$43,189$55,004▲ $11,815
Accounts Receivable$52,500$18,400▼ $34,100
Prepaid Expenses and Deferred Charges$12,274$16,440▲ $4,166
Total Assets$7,483,379$8,160,391▲ $677,012
Other Assets Total$425,438$449,189▲ $23,751
Liabilities
Accounts Payable and Accrued Expenses$54,295$86,586▲ $32,291
Other Liabilities$18,280$43,643▲ $25,363
Total Liabilities$72,575$130,229▲ $57,654
Net Assets / Fund Balance
Net Assets With Donor Restrictions$6,047,984$4,016,134▼ $2,031,850
Net Assets Without Donor Restrictions$1,362,820$4,014,028▲ $2,651,208
Total Net Assets Fund Balance$7,410,804$8,030,162▲ $619,358
Total Liabilities and Net Assets / Fund Balance$7,483,379$8,160,391▲ $677,012

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$55,004$135,961$190,965
Other Assets Org$4,164--
Other Securities$3,658,403--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,127,658-▲ $118,815$47,040$1,188,011
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mona LovettExecutive DiFT$133,644$22,266$155,910
Mona LovettExecutive Director-$133,644$22,266$155,910

Board Members and Trustees

NameTitle
Natalie Jensen-nollChair
Chris FoxVice Chair
ANNAMARIE D'SOUZADirector
Chad BrownDirector
Don GeletkoDirector
Frank IngramDirector
Israel SuarezDirector
Jeremiah ShippDirector
Joan HealyDirector
John WilsonDirector
Kizzy LeaDirector
Latida SmithDirector
Marquis BarnettDirector
Michael PiscetelliDirector
Nicole DucouerDirector
Phillip PetrosDirector
Preston RoseboroDirector
Tony RomeoDirector
Tricia McmanusDirector
Ginger SaltImmediate Pa
Joyce CarsonSecretary
Anne WestbrookTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,520,907
Program Service Revenue
$2,032,637
Investment Income
$127,017
Other Revenue
$233,080
All Other Contributions
$1,003,550
Change in Net Assets
$406,472

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,900,117
Revenue Not Reported on Financial Statements
$13,524
Revenue Not Reported on Form 990
$347,333
Total Revenue per Audited Statements
$4,247,450
Total Revenue per Form 990
$3,913,641
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,040,971
Grants and Similar Amounts Paid$946,260
Other Expenses$519,938
Total Fundraising Expense$239,397
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,149,218$191,547$148,441$1,489,206
Grants to Domestic Individuals$946,260--$946,260
Other Employee Benefits$91,098$50,527$33,698$175,323
Current Officers, Directors, Trustees, and Key Employees$116,925$24,055$17,936$158,916
Payroll Taxes$98,881$15,994$12,395$127,270
Office Expenses$5,212$92,104-$97,316
Pension Plan Contributions$46,897$26,011$17,348$90,256
Fees for Services Other$29,761$35,687-$65,448
Information Technology-$26,720-$26,720
Fees for Services Accounting-$25,855-$25,855
Conferences and Meetings$22,787--$22,787
Travel$21,512--$21,512
Other Expenses$18,588$21,992$9,579$18,588
Depreciation Depletion-$18,468-$18,468
All Other Expenses$16,007--$16,007
Fees for Service Investment Mgmnt Fees-$13,524-$13,524
Advertising-$8,432-$8,432
Insurance-$6,981-$6,981
Total Functional Expenses$2,709,875$557,897$239,397$3,507,169

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,628,092
Total Expenses per Form 990$3,507,169
Expenses per Audited Statements$3,493,645
Expenses Not Reported on Form 990$134,447
Expenses Not Reported on Financial Statements$13,524
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$293,152
Fundraising Direct Expenses$67,714
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$344,603$293,152$38,684$254,468
Total Events$344,603$293,152$67,714$225,438
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$43,643
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 form 990 return is reviewed by the finance and executive committees and is approved by the executive committee.

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
2025-03-11
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
74
Volunteers
150

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 67,714

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

Fundraising expenses netted with revenue 67,714

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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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