Civic Intelligence

Black Student Fund

990 • Fiscal year 2023 • EIN 52-6053597

Jul 01, 2022 to Jun 30, 2023 • Filed on May 08, 2024

Organization Profilewww.blackstudentfund.org

View Organization Page

3636 16th Street NWWashington, DC 20010

(202) 387-1414

Siviq Scores

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

Liabilities / Assets

68th percentile

0.01x

Higher debt load relative to assets than 68% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.00x

Higher debt load relative to revenue than 62% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

7th percentile

-84%

Higher net margin than 7% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

94th percentile

$60,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 27.7% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

5th percentile

-79%

Faster asset growth than 5% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

11th percentile

-52%

Faster revenue growth than 11% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$45,372

Down $167,465 (-79%) from 2022

Net Assets

Down

$44,697

Down $165,848 (-79%) from 2022

Liabilities

Down

$675

Down $1,617 (-71%) from 2022

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin7th percentile

Revenue

Down

$216,438

Down $231,659 (-52%) from 2022

Expenses

Up

$399,047

Up $51,823 (+15%) from 2022

Net Income

Down

-$182,609

Down $283,482 (-281%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$800K$600K$400K$200K$0-$200KAssets 2010: $616,423Liabilities 2010: $40,120Net Assets 2010: $576,3032010Assets 2011: $418,462Liabilities 2011: $23,831Net Assets 2011: $394,6312011Assets 2012: $199,347Liabilities 2012: $18,702Net Assets 2012: $180,6452012Assets 2013: $89,894Liabilities 2013: $38,324Net Assets 2013: $51,5702013Assets 2014: $50,142Liabilities 2014: $28,862Net Assets 2014: $21,2802014Assets 2015: $28,253Liabilities 2015: $22,150Net Assets 2015: $6,1032015Assets 2016: $31,354Liabilities 2016: $38,739Net Assets 2016: -$7,3852016Assets 2017: $33,185Liabilities 2017: $35,832Net Assets 2017: -$2,6462017Assets 2018: $54,807Liabilities 2018: $8,877Net Assets 2018: $45,9302018Assets 2019: $22,207Liabilities 2019: $4,381Net Assets 2019: $17,8262019Assets 2020: $10,391Liabilities 2020: $0Net Assets 2020: $10,3912020Assets 2021: $98,859Liabilities 2021: $873Net Assets 2021: $97,9862021Assets 2022: $212,837Liabilities 2022: $2,292Net Assets 2022: $210,5452022Assets 2023: $45,372Liabilities 2023: $675Net Assets 2023: $44,6972023Assets 2024: $51,018Liabilities 2024: $165Net Assets 2024: $50,8532024

Highlighted filing

2023

Assets$45,372
Liabilities$675
Net Assets$44,697
Open 2023 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $658,8542010Revenue 2011: $435,416Expenses 2011: $626,335Net Income 2011: -$190,9192011Expenses 2012: $603,0392012Expenses 2013: $505,3292013Revenue 2014: $336,397Expenses 2014: $387,209Net Income 2014: -$50,8122014Revenue 2015: $379,312Expenses 2015: $407,911Net Income 2015: -$28,5992015Revenue 2016: $308,398Expenses 2016: $315,197Net Income 2016: -$6,7992016Revenue 2017: $249,119Expenses 2017: $244,380Net Income 2017: $4,7392017Revenue 2018: $260,708Expenses 2018: $212,132Net Income 2018: $48,5762018Revenue 2019: $184,390Expenses 2019: $197,710Net Income 2019: -$13,3202019Revenue 2020: $196,337Expenses 2020: $203,481Net Income 2020: -$7,1442020Revenue 2021: $422,990Expenses 2021: $322,362Net Income 2021: $100,6282021Revenue 2022: $448,097Expenses 2022: $347,224Net Income 2022: $100,8732022Revenue 2023: $216,438Expenses 2023: $399,047Net Income 2023: -$182,6092023Revenue 2024: $307,091Expenses 2024: $314,602Net Income 2024: -$7,5112024

Highlighted filing

2023

Revenue$216,438
Expenses$399,047
Net Income-$182,609
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 8, 2024
Return Version
2022v5.0
Gross Receipts
$226,375
Mission and Program Overview

Mission

BSF is an educational equity organization advancing educational choice by affording underserved families access to independent schools and supporting their success. BSF has served tens of thousands of children; served more than seventy five BSF member schools K-12; and inspired replications across the Mid-Atlantic region. BSF is also a community resource collaborating with organizations advancing education.

The Black Student Fund (BSF) provides essential advocacy, academic and retention support to academically motivated African American and other underserved students to facilitate their access, admission and successful matriculation and graduation from member schools. BSF partners with member schools to provide financial assistance, as well as instruction, evaluations, feedback and monitoring necessary to facilitate the creation and maintenance of a supportive and responsive environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$150,242$20,605▼ $129,637
Investments in Publicly Traded Securities$4,169$17,004▲ $12,835
Land, Buildings, and Equipment, Net$3,649$2,737▼ $912
Savings and Temporary Cash Investments$50,533$782▼ $49,751
Total Assets$212,837$45,372▼ $167,465
Other Assets Total$4,244$4,244→ $0
Liabilities
Other Liabilities$2,292$675▼ $1,617
Total Liabilities$2,292$675▼ $1,617
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$206,376$30,388▼ $175,988
Net Assets With Donor Restrictions$4,169$14,309▲ $10,140
Total Net Assets Fund Balance$210,545$44,697▼ $165,848
Total Liabilities and Net Assets / Fund Balance$212,837$45,372▼ $167,465

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$2,737$72,930$0
Leasehold Improvements$0$0$0
Other Assets Org$4,244--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$4,169$10,000▲ $140$0$14,309
2021$2,222$2,000▼ $53$0$4,169
2020$2,266$0▲ $64$0$2,222
2019$2,190$0▲ $76$0$2,266
2018$2,190$0▲ $25$25$2,190
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Leroy Nesbitt JrExecutive DirectorFT$60,000$60,000

Board Members and Trustees

NameTitle
Joel KanterBoard Chair
Adewale OmoniyiTrustee
Breon N WellsTrustee
Dwight Franklin JrTrustee
Jeanie CarrTrustee
Mark D SchneiderTrustee
Olutosin Aje-AdegbiteTrustee
Sean A FloydTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$195,916
Program Service Revenue
$26,254
Investment Income
$322
Other Revenue
$-6,054
All Other Contributions
$188,406
Change in Net Assets
$-182,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$197,095
Other Expenses$193,602
Total Fundraising Expense$22,195
Grants and Similar Amounts Paid$8,350
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$86,967$40,000$2,000$128,967
Current Officers, Directors, Trustees, and Key Employees$31,250$28,250$3,000$62,500
Occupancy$17,000$26,244$3,000$46,244
Information Technology$11,000$23,518-$34,518
All Other Expenses$17,380$7,460$5,000$29,840
Advertising$3,685-$9,095$12,780
Office Expenses$10,977$1,054-$12,031
Other Expenses$8,768$0$0$8,768
Grants to Domestic Individuals$8,350--$8,350
Insurance$6,052--$6,052
Payroll Taxes$2,628$3,000-$5,628
Depreciation Depletion$512$300$100$912
Conferences and Meetings$588--$588
Fees for Service Investment Mgmnt Fees$105--$105
Total Functional Expenses$244,026$132,826$22,195$399,047
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$9,937
Fundraising Gross Income$3,532
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
DC Income Tax$39
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 6

“Black Student Fund provides financial assistance to scholars who attend our member schools for a PK - 12th grade educational experience”

Form 990, Part VI, Section B, Line 11B

“We will present the 990 at the next board meeting”

Form 990, Part VI, Section B, Line 12C

“Board member were routinely questioned about compliance at board meetings”

Form 990, Part VI, Section B, Line 15

“The board establish the salary for the executive director when he arrived in 2013. His salary remains unchanged.”

Form 990, Part VI, Section C, Line 19

“All policies are available for the public to observe during the tax year.”

Filing and Contact Details

Filer

Filer Name
Black Student Fund
EIN
52-6053597
Phone
2023871414
Address
3636 16th Street NW, Washington, DC 20010
Doing Business As
The Black Student Fund

Signing Officer

Name
Leroy Nesbitt Jr
Title
Executive Director
Phone
2023871414
Signed
2024-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leroy Nesbitt Jr
Formed
1964
Legal Domicile
Dc
Voting Board Members
12
Independent Board Members
12
Employees
1
Volunteers
25

Preparer

Firm
Greg Billings Management Consulting
Address
855 21st Street NE Apt 9, Washington, DC 20002
Preparer
Gregory Billings
Phone
2024407714
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“BSF is beginning to replenish its restricted funds account by steering $10,000 of donations in FY 2022”

Financial Statement Notes

Schedule D, Part V, Line 4

“The endowment fund is used to generate income for student scholarships”

Raw XML AppendixShowing 400 of 587 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0For more than fifty years, BSF has provided financial support for families at BSF Member Schools. BSF provides small tuition scholarships, funding for participation in summer and school year academic enrichment, youth development program/activities and BSF provides emergency and essential services financial support to BSF families
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IRS990/MissionDesc0BSF is an educational equity organization advancing educational choice by affording underserved families access to independent schools and supporting their success. BSF has served tens of thousands of children; served more than seventy five BSF member schools K-12; and inspired replications across the Mid-Atlantic region. BSF is also a community resource collaborating with organizations advancing education.
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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt06761
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0206376
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt030388
IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt03000
IRS990/OccupancyGrp/ManagementAndGeneralAmt026244
IRS990/OccupancyGrp/ProgramServicesAmt017000
IRS990/OccupancyGrp/TotalAmt046244
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01054
IRS990/OfficeExpensesGrp/ProgramServicesAmt010977
IRS990/OfficeExpensesGrp/TotalAmt012031
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt04244
IRS990/OtherAssetsTotalGrp/EOYAmt04244
IRS990/OtherChangesInNetAssetsAmt010000
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0BSF/LSF School Fair
IRS990/OtherExpensesGrp/Desc1PGPAEO School Fair
IRS990/OtherExpensesGrp/Desc2STEM Programming
IRS990/OtherExpensesGrp/Desc3Positive Focus Expenses
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt012116
IRS990/OtherExpensesGrp/ProgramServicesAmt19723
IRS990/OtherExpensesGrp/ProgramServicesAmt216925
IRS990/OtherExpensesGrp/ProgramServicesAmt38768
IRS990/OtherExpensesGrp/TotalAmt012116
IRS990/OtherExpensesGrp/TotalAmt112723
IRS990/OtherExpensesGrp/TotalAmt216925
IRS990/OtherExpensesGrp/TotalAmt38768
IRS990/OtherLiabilitiesGrp/BOYAmt02292
IRS990/OtherLiabilitiesGrp/EOYAmt0675
IRS990/OtherRevenueTotalAmt0351
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt02000
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt040000
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt086967
IRS990/OtherSalariesAndWagesGrp/TotalAmt0128967
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03000
IRS990/PayrollTaxesGrp/ProgramServicesAmt02628
IRS990/PayrollTaxesGrp/TotalAmt05628
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Leroy Nesbitt Jr
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0BSF/LSF 2023 School Fair
IRS990/ProgramServiceRevenueGrp/Desc12024 PGPAEO School Fair
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt022638
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13616
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt022638
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13616
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgSrvcAccomActy2Grp/Desc0The BSF/LSF Annual School Fair is a forum for Washington metropolitan area families to learn about independent school education and to engage students, teachers and administrators from more than 70 local and national independent schools and educational programs. This event also includes: workshops, chat rooms, recorded content and a digital resources library. The event served more than 1200 families and included more than 50 schools and educational organizations
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt039353
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt022638
IRS990/ProgSrvcAccomActy3Grp/Desc0BSF Science, Technology, Engineering & Math (STEM) is a focused academic enrichment effort of BSF. BSF STEM is a series of connected programs and activities providing students with introductory and advanced STEM learning. With an anchor in math and coding, BSF Scholars and Affiliates participate in yearlong out of school learning; tech skill development and STEM awareness events
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt090855
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01000
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Worked with Positive Focus and PGPAEO to provide programming for scholars and families
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt041865
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt00
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0407006
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt010178
IRS990/PYInvestmentIncomeAmt082
IRS990/PYOtherExpensesAmt0271400
IRS990/PYOtherRevenueAmt02777
IRS990/PYProgramServiceRevenueAmt038232
IRS990/PYRevenuesLessExpensesAmt0100873
IRS990/PYSalariesCompEmpBnftPaidAmt065646
IRS990/PYTotalExpensesAmt0347224
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0448097
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-182609
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt050533
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0782
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Income from our annual School Fair where scholars and their families meet our member schools to discuss life at their schools
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0195040
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0389228
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0180156
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0166197
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01337627
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$45,372
Liabilities
$675
Net assets
$44,697
Revenue
$216,438
Expenses
$399,047
Net income
-$182,609
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$3.07$3.15$0.08
2023Detailed filing. Detailed filing data is available for this year.$0.45$0.01$0.45$2.16$3.99$1.83
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.02$2.11$4.48$3.47$1.01
2021Detailed filing. Detailed filing data is available for this year.$0.99$0.01$0.98$4.23$3.22$1.01
2020Summary only. Only limited summary data is available for this year.$0.10$0.00$0.10$1.96$2.03$0.07
2019Summary only. Only limited summary data is available for this year.$0.22$0.04$0.18$1.84$1.98$0.13
2018Summary only. Only limited summary data is available for this year.$0.55$0.09$0.46$2.61$2.12$0.49
2017Summary only. Only limited summary data is available for this year.$0.33$0.36$0.03$2.49$2.44$0.05
2016Summary only. Only limited summary data is available for this year.$0.31$0.39$0.07$3.08$3.15$0.07
2015Summary only. Only limited summary data is available for this year.$0.28$0.22$0.06$3.79$4.08$0.29
2014Summary only. Only limited summary data is available for this year.$0.50$0.29$0.21$3.36$3.87$0.51
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.38$0.52$5.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.99$0.19$1.81$6.03
2011Summary only. Only limited summary data is available for this year.$4.18$0.24$3.95$4.35$6.26$1.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.16$0.40$5.76$6.59