Scholarship Foundation of Santa Barbara

Analysis

Scholarship Foundation of Santa Barbara is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in January 1964, 62 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Scholarship Foundation of Santa Barbara reported income of $9.8m and spending of $9.3m, spending 95% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $9.0m to $9.8m (+9.0%), an average of +2.2% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Scholarship Foundation of Santa Barbara sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include New Jersey Eastern Star Home for the Aged Inc ($9.8m), Greenwich Emergency Medical Service Incorporated ($9.8m) and Townsend Health Systems Inc Broadwater Community Hospital ($9.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 80% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $453k (4.9% of expenses). Other salaries and wages came to $1.3m. It paid $11k in professional fundraising fees. At year end it held assets of $76.0m against liabilities of $7.3m, net assets of $68.7m. It reported 20 employees.