Overview
What is Fashion Scholarship Fund?
The Fashion Scholarship Fund is a leading nonprofit organization based in New York City, specifically at 1501 Broadway 2001, with a mission to identify and create career opportunities for talented young people in the fashion industry worldwide. They are the largest scholarship grantor and provider in the fashion community, awarding substantial financial support accompanied by an extensive curriculum of industry-leading programs. These programs offer scholars hands-on experience with renowned fashion companies and influential industry leaders. The Fashion Scholarship Fund promotes education in the fashion arts and business by providing scholarships, internships, mentorships, and career programs, ensuring the fashion industry continues to attract dedicated and capable individuals. The organization's workforce consists of 5 dedicated professionals.
Official website here: www.fashionscholarshipfund.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 95%, Four-Star out of Four Star rating.
The Fashion Scholarship Fund has received a high rating of 95%, which reflects its strong financial health and commitment to accountability. The organization excels in leadership and adaptability, achieving a perfect score in these areas, indicating effective governance and a responsive approach to challenges. With a remarkable 97% of its board members being independent, it showcases a robust structure that prioritizes transparency and ethical management.
Financially, the Fund demonstrates solid performance with a program expense ratio of 74.75%, meaning a significant portion of its funds directly support its mission. Its fundraising efficiency ratio of $0.05 indicates that it is effective in utilizing donations to generate impact. Moreover, its low liabilities to assets ratio (2.37%) and substantial working capital ratio (8.72 years) suggest strong financial stability and the ability to sustain operations over the long term.
While user feedback is overwhelmingly positive, with perfect scores in constituent feedback collection and usage, there may be areas for further growth in equity strategies, where it scored 91%. Overall, the Fashion Scholarship Fund stands out as a well-managed nonprofit dedicated to fostering talent in the fashion industry.
This AI summary has been generated from information found on Charity Navigator.
Is Fashion Scholarship Fund legitimate?
Fashion Scholarship Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fashion Scholarship Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $481,886
Professional Fundraising Fees: $0
Other Salaries and Wages: $336,024
For more financial information, click here
Official website here: www.fashionscholarshipfund.org
What is the mission statement of Fashion Scholarship Fund?
The Fashion Scholarship Fund, a leading educational non-profit in the fashion industry, is dedicated to promoting the education of fashion arts and business by granting scholarships to talented students and facilitating internships, mentorships, and career programs. By encouraging gifted and ambitious young people to pursue careers in design, merchandising, retailing, and business, the organization ensures the fashion industry continues to attract dedicated and capable individuals. The Fashion Scholarship Fund is the largest scholarship provider in the fashion community, granting a significant amount of financial support and offering comprehensive, industry-leading programs for scholars, providing hands-on experience with top fashion companies and influential leaders.
Official website here: www.fashionscholarshipfund.org
Who is the CEO of Fashion Scholarship Fund?
Marc Mastronardi is the Principal Officer of Fashion Scholarship Fund.
Official website here: www.fashionscholarshipfund.org
What is the revenue of Fashion Scholarship Fund?
Fashion Scholarship Fund's revenue in 2022 was $21,006,937.
Official website here: www.fashionscholarshipfund.org
Who are the executives of Fashion Scholarship Fund and what are their salaries?
The average compensation at Fashion Scholarship Fund during 2022 was $163,582. There are 5 employees and 46 volunteers at Fashion Scholarship Fund.
Here are 47 key members and their salaries:
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- Compensation: $130,215
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Official website here: www.fashionscholarshipfund.org
Where can I find the form 990 for Fashion Scholarship Fund?
Fashion Scholarship Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fashionscholarshipfund.org
Learn more at the official website: www.fashionscholarshipfund.org
Mission Statement of Fashion Scholarship Fund
The Fashion Scholarship Fund, a renowned educational non-profit in the United States, is dedicated to advancing the fashion industry by nurturing talented and ambitious young people. By granting scholarships and facilitating internships, mentorships, and career programs, the organization ensures the fashion industry continues to attract capable and dedicated individuals.
As the premier fashion non-profit in the country, the Fashion Scholarship Fund sets out to identify and create career opportunities for young people worldwide. Through its extensive scholarship program, the organization grants the largest sum of money and the highest number of scholarships in the entire fashion community, supplementing financial support with an industry-leading curriculum designed to provide hands-on experience with the world's top fashion companies and influential leaders.
The Fashion Scholarship Fund's mission goes beyond providing financial assistance. With a commitment to fostering the next generation of fashion professionals, the organization offers a rich tapestry of comprehensive programs tailored to students in design, merchandising, retailing, and business. These programs equip scholars with the essential skills and knowledge needed to excel in their chosen careers, positioning them as valuable assets to the fashion industry.
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Impact
August, 2024
The Fashion Scholarship Fund has a significant impact on the fashion industry by promoting education in the fashion arts and business. By granting scholarships to talented students and facilitating internships, mentorships, and career programs, the organization plays a crucial role in nurturing the next generation of fashion professionals. As the premier educational fashion nonprofit in the United States, the Fashion Scholarship Fund provides valuable opportunities for young people worldwide to pursue careers in design, merchandising, retailing, and business. Through its comprehensive programs and partnerships with top fashion companies and industry leaders, the organization helps to ensure that the fashion industry continues to attract dedicated and capable individuals who will contribute to its growth and innovation.
This information is meant to be a general summary of Fashion Scholarship Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $173,885
- Gross Receipts: $25,580,851
Assets and Liabilities:
- Total Assets: $25,057,087
- Total Liabilities: $531,183
- Net Assets: $24,525,904
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Organization Details
Founding Year
2006
Phone
(212) 278-0008Principal Officer
Marc Mastronardi
Main Address
1501 BROADWAY 2001, NEW YORK, NY, 10036
NTEE Category
Code: B82 - Education
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