Civic Intelligence

Connestee Falls Student Scholarship Program

990 • Fiscal year 2023 • EIN 56-2069663

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 18, 2024

Organization Profilecfscholarships.org
33 Connestee TrailBrevard, NC 28712

(828) 885-2001

Siviq Scores

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

Liabilities / Assets

76th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B82 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

76th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B82 • <$500k nonprofits • Source year 2023

Net Margin

90th percentile

87%

Higher net margin than 90% of similar nonprofits.

2023 filings • NTEE B82 • <$500k nonprofits • Source year 2023

Top Officer Pay

95th percentile

$0

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE B82 • <$500k nonprofits • Source year 2023

Asset Growth

94th percentile

114%

Faster asset growth than 94% of similar nonprofits.

2023 filings • NTEE B82 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

66th percentile

23%

Faster revenue growth than 66% of similar nonprofits.

2023 filings • NTEE B82 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets76th percentile

Assets

Flat

$306,537

Flat from 2023

Net Assets

Flat

$306,537

Flat from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin90th percentile

Revenue

Flat

$212,901

Flat from 2023

Expenses

Flat

$27,407

Flat from 2023

Net Income

Flat

$185,494

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$400K$300K$200K$100K$0Assets 2011: $2,627Liabilities 2011: $02011Assets 2012: $3,605Liabilities 2012: $02012Assets 2013: $2,927Liabilities 2013: $02013Assets 2014: $3,832Liabilities 2014: $02014Assets 2015: $3,242Liabilities 2015: $02015Assets 2016: $4,732Liabilities 2016: $02016Assets 2017: $4,797Liabilities 2017: $205Net Assets 2017: $4,5922017Assets 2018: $91,632Liabilities 2018: $3,965Net Assets 2018: $87,6672018Assets 2019: $97,887Liabilities 2019: $3,449Net Assets 2019: $94,4382019Assets 2020: $108,192Liabilities 2020: $4,2572020Assets 2021: $121,108Liabilities 2021: $11,090Net Assets 2021: $110,0182021Assets 2022: $143,543Liabilities 2022: $22,500Net Assets 2022: $121,0432022Assets 2023: $306,537Liabilities 2023: $0Net Assets 2023: $306,5372023Assets 2023: $306,537Liabilities 2023: $0Net Assets 2023: $306,5372023

Highlighted filing

2023

Assets$306,537
Liabilities$0
Net Assets$306,537
Open 2023 Filing

Operations Trend

Revenue Growth66th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $31,332Expenses 2011: $0Net Income 2011: $31,3322011Revenue 2012: $50,775Expenses 2012: $0Net Income 2012: $50,7752012Revenue 2013: $55,667Expenses 2013: $56,345Net Income 2013: -$6782013Revenue 2014: $66,280Expenses 2014: $65,375Net Income 2014: $9052014Revenue 2015: $81,159Expenses 2015: $16,749Net Income 2015: $64,4102015Revenue 2016: $99,057Expenses 2016: $97,927Net Income 2016: $1,1302016Revenue 2017: $111,202Expenses 2017: $111,342Net Income 2017: -$1402017Revenue 2018: $130,080Expenses 2018: $129,842Net Income 2018: $2382018Revenue 2019: $136,560Expenses 2019: $135,789Net Income 2019: $7712019Revenue 2020: $111,297Expenses 2020: $111,800Net Income 2020: -$5032020Revenue 2021: $140,804Expenses 2021: $139,721Net Income 2021: $1,0832021Revenue 2022: $172,632Expenses 2022: $171,559Net Income 2022: $1,0732022Revenue 2023: $212,901Expenses 2023: $27,407Net Income 2023: $185,4942023Revenue 2023: $212,901Expenses 2023: $27,407Net Income 2023: $185,4942023

Highlighted filing

2023

Revenue$212,901
Expenses$27,407
Net Income$185,494
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 18, 2024
Return Version
2023v5.0
Gross Receipts
$232,291
Mission and Program Overview

Mission

SCHOLARSHIPS

Our mission is to provide scholarship funds for deserving students of Transylvania County. Scholarships shall be awarded by the educational institutions based on merit and financial need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$178,028-
Cash and Non-Interest-Bearing Accounts$24,761$9,726▼ $15,035
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$143,543$306,537▲ $162,994
Other Assets Total$118,782$118,783▲ $1
Liabilities
Other Liabilities$22,500--
Total Liabilities$22,500$0▼ $22,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$121,043$306,537▲ $185,494
Total Net Assets Fund Balance$121,043$306,537▲ $185,494
Total Liabilities and Net Assets / Fund Balance$143,543$306,537▲ $162,994

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1--
Compensation and Service Providers
Top Officer Pay95th percentile

Board Members and Trustees

NameTitle
Edward MazzettaChairman
Andrea JanzenDirector
Kim McElweeDirector
Mark O'DonnellDirector
Steve SeelingerDirector
Terri LowerySecretary
Cindy CastTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$193,810
Program Service Revenue
$0
Investment Income
$1,747
Other Revenue
$17,344
All Other Contributions
$186,438
Change in Net Assets
$185,494
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$21,000
Other Expenses$6,407
Total Fundraising Expense$2,626
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$21,000--$21,000
Information Technology-$1,717-$1,717
Insurance-$742-$742
Other Expenses-$100$2,626$100
Total Functional Expenses$21,000$3,781$2,626$27,407
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Blue Ridge Community CollegeFlat Rock, NC-Scholasrhips$7,000
Brevard College CorpBrevard, NC-Scholarships$7,000
Transylvainia County SchoolsBrevard, NC-Scholarships$7,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$35,453
Fundraising Direct Expenses$18,109
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$26,805$19,433$7,158$12,275
Gala/Silent Auction$16,020$16,020$137$15,883
Total Events$42,825$35,453$18,109$17,344
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Form 990 reviewed by a licensed CPA experienced with Form 990 preparation. Copy of Form 990 provided to the CFSSP Board for review and comments prior to filing.”

Form 990, Part VI, Section C, Line 19

“Governing documents available on our organization's website. Copies of financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Connestee Falls Student Scholarship
EIN
56-2069663
Phone
8288852001
Address
33 Connestee Trail, Brevard, NC 28712

Signing Officer

Name
Cindy Cast
Title
Treasurer
Signed
2024-04-18

Organization Details

Formed
1987
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
30
Supplemental Narrative

Additional Explanations

Statement Note 1

“CFSSP uses the cash basis of accounting. As of the end of 2023, it had committed, in writing, to payment of $ 159,000 of educational grants that will be paid out in the first 6 months of 2024 when needed by the institutions for student scholarships. This was done to maximize the return on invested funds and allow funding more grants during 2024.”

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“Beneficial Interest in Funds held by: The Communty Foundation of Western North Carolina,Inc.Purpose: Supplement annual scholarshipsDistributed according to Community Foundation restrictions. Prior years not reported as not required on 990-EZ that was filed.All data at historical cost. No 2023 contributions added to fund.”

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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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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01747
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01747
IRS990ScheduleA/InvestmentIncomeCYPct00.00220
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99780
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt0791837
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0230544
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0172632
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0140804
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0111297
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0136560
IRS990ScheduleA/Total509Grp/TotalAmt0791837
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0232291
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0172632
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0140804
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0111297
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0136560
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0793584
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0118782
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Beneficial Interest - Endowment
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Rounding
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Beneficial Interest in Funds held by: The Communty Foundation of Western North Carolina,Inc.Purpose: Supplement annual scholarshipsDistributed according to Community Foundation restrictions. Prior years not reported as not required on 990-EZ that was filed.All data at historical cost. No 2023 contributions added to fund.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4: Intended uses of the endowment fund.
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0118783
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt01570
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt01570
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt07372
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt07372
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt018109
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Golf Tournament
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Gala/Silent Auction
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt03300
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent2Amt05944
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt09244
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt026805
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt016020
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt042825
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt019433
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt016020
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt035453
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt017344
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt07295
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07158
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt0137
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt07000
IRS990ScheduleI/RecipientTable/CashGrantAmt17000
IRS990ScheduleI/RecipientTable/CashGrantAmt27000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Scholasrhips
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Scholarships
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Scholarships
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Blue Ridge Community College
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Brevard College Corp
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Transylvainia County Schools
IRS990ScheduleI/RecipientTable/RecipientEIN0510175113
IRS990ScheduleI/RecipientTable/RecipientEIN1560532297
IRS990ScheduleI/RecipientTable/RecipientEIN2566001121
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0180 West Campus Drive
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1One Brevard College Drive
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2225 Rosenwald Lane
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Flat Rock
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Brevard
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Brevard
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd028731
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd128712
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd228712
IRS990ScheduleI/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 reviewed by a licensed CPA experienced with Form 990 preparation. Copy of Form 990 provided to the CFSSP Board for review and comments prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing documents available on our organization's website. Copies of financial statements available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CFSSP uses the cash basis of accounting. As of the end of 2023, it had committed, in writing, to payment of $ 159,000 of educational grants that will be paid out in the first 6 months of 2024 when needed by the institutions for student scholarships. This was done to maximize the return on invested funds and allow funding more grants during 2024.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Statement Note 1
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0143543
IRS990/TotalAssetsEOYAmt0306537
IRS990/TotalAssetsGrp/BOYAmt0143543
IRS990/TotalAssetsGrp/EOYAmt0306537
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0193810
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02626
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03781
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt021000
IRS990/TotalFunctionalExpensesGrp/TotalAmt027407
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt022500

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$306,537
Liabilities
$0
Net assets
$306,537
Revenue
$212,901
Expenses
$27,407
Net income
$185,494
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$3.07$0.00$3.07$2.13$0.27$1.85
2023Summary only. Only limited summary data is available for this year.$3.07$0.00$3.07$2.13$0.27$1.85
2022Detailed filing. Detailed filing data is available for this year.$1.44$0.23$1.21$1.73$1.72$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.21$0.11$1.10$1.41$1.40$0.01
2020Summary only. Only limited summary data is available for this year.$1.08$0.04$1.11$1.12$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.03$0.94$1.37$1.36$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.04$0.88$1.30$1.30$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$1.11$1.11$0.00
2016Summary only. Only limited summary data is available for this year.$0.05$0.00$0.99$0.98$0.01
2015Summary only. Only limited summary data is available for this year.$0.03$0.00$0.81$0.17$0.64
2014Summary only. Only limited summary data is available for this year.$0.04$0.00$0.66$0.65$0.01
2013Summary only. Only limited summary data is available for this year.$0.03$0.00$0.56$0.56$0.01
2012Summary only. Only limited summary data is available for this year.$0.04$0.00$0.51$0.00$0.51
2011Summary only. Only limited summary data is available for this year.$0.03$0.00$0.31$0.00$0.31