Overview
What is Scholarship Foundation Of Santa Barbara?
The Scholarship Foundation of Santa Barbara is a prominent nonprofit organization situated in Santa Barbara, California. Established in 1962, its primary mission is to empower local students by providing financial aid and scholarship opportunities for post-secondary and vocational education. As the nation's largest community-based provider of such scholarships, it has generously awarded over $150 million to nearly 60,000 students within Santa Barbara County. In 2023 alone, they granted nearly $7.2 million to 1,864 students. Scholarships cater to undergraduates studying at two-year and four-year colleges and universities, averaging around $3,500 each. Approximately half of the recipients are the first in their families to attend college, underscoring the organization's commitment to fostering educational opportunities. With a team of 19 dedicated individuals, the Scholarship Foundation of Santa Barbara inspires, encourages, and supports students in achieving their academic and vocational goals.
Official website here: www.sbscholarship.org
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 98% (Four-Star out of Four Star Rating)**
The Scholarship Foundation of Santa Barbara has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and transparency. With a perfect score for Accountability & Finance, the organization demonstrates effective financial practices, including an entirely independent board and robust oversight mechanisms. Its strong program expense ratio highlights the commitment to maximizing funds directed toward scholarships, ensuring that the majority of resources directly support its mission.
The organization excels in impact measurement, also earning a score of 100. Their scholarship program effectively increases recipients' income, demonstrating clear outcomes for community investment. Although the culture and community score is slightly lower at 85, the foundation has received high marks for constituent feedback and their collection strategies, suggesting active engagement with stakeholders.
User reviews from GreatNonprofits could not be retrieved, leaving a gap in public sentiment feedback. Overall, the foundation's robust financial health and impact metrics indicate a well-managed nonprofit dedicated to furthering educational opportunities through scholarships.
This AI summary has been generated from information found on Charity Navigator.
Is Scholarship Foundation Of Santa Barbara legitimate?
Scholarship Foundation Of Santa Barbara is a legitimate nonprofit organization registered as a 501(c)(3) entity. Scholarship Foundation Of Santa Barbara 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: $625,936
Professional Fundraising Fees: $51,497
Other Salaries and Wages: $898,325
For more financial information, click here
Official website here: www.sbscholarship.org
What is the mission statement of Scholarship Foundation Of Santa Barbara?
The Scholarship Foundation of Santa Barbara aims to inspire, encourage, and support students in Santa Barbara County to pursue higher education, whether it's college, graduate school, or vocational training. They achieve this by providing information, guidance, and financial aid in the form of scholarships. As the nation's largest community-based provider of post-secondary education scholarships, they have awarded over $150 million to nearly 60,000 students since their establishment in 1962. In 2023 alone, they awarded almost $7.2 million to 1,864 students, with the average scholarship for undergraduates at two-year and four-year colleges and universities being $3,500. Fifty-three percent of the recipients in this year were the first in their family to attend college.
Official website here: www.sbscholarship.org
Who is the CEO of Scholarship Foundation Of Santa Barbara?
Melinda Cabrera is the Principal Officer of Scholarship Foundation Of Santa Barbara. The CEO's salary of Scholarship Foundation Of Santa Barbara is $8,880 and their total compensation is $8,880.
Official website here: www.sbscholarship.org
What is the revenue of Scholarship Foundation Of Santa Barbara?
Scholarship Foundation Of Santa Barbara's revenue in 2023 was $10,459,065.
Official website here: www.sbscholarship.org
Who are the executives of Scholarship Foundation Of Santa Barbara and what are their salaries?
The average compensation at Scholarship Foundation Of Santa Barbara during 2023 was $80,224. There are 19 employees and 225 volunteers at Scholarship Foundation Of Santa Barbara.
Here are 40 key members and their salaries (Scholarship Foundation Of Santa Barbara's CEO's salary is $8,880 and their total compensation is $8,880):
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Official website here: www.sbscholarship.org
Where can I find the form 990 for Scholarship Foundation Of Santa Barbara?
Scholarship Foundation Of Santa Barbara's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sbscholarship.org
Learn more at the official website: www.sbscholarship.org
Mission Statement of Scholarship Foundation Of Santa Barbara
The Scholarship Foundation of Santa Barbara, as a committed nonprofit organization, aims to inspire, encourage, and support students in Santa Barbara County to pursue and complete their college, graduate, and vocational school education. This mission is carried out by providing valuable information, counseling, and financial aid in the form of scholarships.
Established in 1962, the Scholarship Foundation of Santa Barbara has become the nation's largest community-based provider of postsecondary education scholarships. Over the years, it has awarded more than $150 million to nearly 60,000 students, showcasing its significant impact on the educational landscape of Santa Barbara County. In 2023 alone, the foundation awarded close to $7.2 million to 1,864 students, with the average scholarship amount for undergraduates studying at two-year and four-year colleges and universities reaching $3,500.
The primary criteria for selecting scholarship recipients at the Scholarship Foundation of Santa Barbara include donor intent, financial need, potential, and motivation. A notable statistic is that 53% of this year's recipients represent the first generation in their families to attend college, highlighting the organization's role in breaking barriers and opening doors to higher education for many deserving students.
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Impact
October, 2024
The Scholarship Foundation of Santa Barbara has a transformative impact on students in Santa Barbara County by facilitating access to postsecondary and vocational education. Since its inception in 1962, it has awarded over $150 million in scholarships to nearly 60,000 students, significantly enhancing educational opportunities in the region.
In 2023 alone, the foundation awarded almost $7.2 million to 1,864 local students, with scholarships for undergraduates averaging $3,500. This support is particularly meaningful, as 53% of the recipients are first-generation college students, highlighting the foundation's role in breaking barriers to higher education for families in the community.
By offering tailored financial aid advising and scholarships, the foundation not only inspires and encourages students but also equips them with the necessary resources to pursue their educational goals. This holistic approach ensures that students are supported throughout their college and vocational journeys, ultimately fostering a more educated and skilled workforce in Santa Barbara County.
This information is meant to be a general summary of Scholarship Foundation Of Santa Barbara. 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 2023.
- Investment Income: $2,059,882
- Program Service Revenue: $85,392
- Gross Receipts: $35,982,568
Assets and Liabilities:
- Total Assets: $68,972,600
- Total Liabilities: $7,257,006
- Net Assets: $61,715,594
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GRANT FOR STUDENT AID SVC
Revenue
$85,392
Organization Details
Founding Year
1962
Phone
(805) 687-6065Principal Officer
Melinda Cabrera
Main Address
PO BOX 3620, SANTA BARBARA, CA, 93130
Website
www.sbscholarship.orgNTEE Category
Code: B82 - Education
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