| Entity | Document Type | Tax ID |
|---|---|---|
| Hispanic Scholarship Fund | IRS Form 990 | 52-1051044 |
| Hispanic Scholarship Fund | Audited Consolidated Financial Statements | Multiple |
|
Entity: Hispanic Scholarship Fund Document Type: IRS Form 990 Tax ID: 52-1051044 |
|
Entity: Hispanic Scholarship Fund Document Type: Audited Consolidated Financial Statements Tax ID: Multiple |
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Fidel A. Vargas | President/CEO | $403,363 |
| 2 | Julie Hite | COO | $271,098 |
| 3 | Victoria Hardy | Senior VP, Finance | $181,917 |
|
1 Name: Fidel A. Vargas Title: President/CEO Compensation: $403,363 |
|
2 Name: Julie Hite Title: COO Compensation: $271,098 |
|
3 Name: Victoria Hardy Title: Senior VP, Finance Compensation: $181,917 |
According to the Hispanic Scholarship Fund consolidated audit of March 31, 2020 (Note 17, Concentrations of Risk): "Three donors comprised approximately 43% and two donors comprised approximately 65% of the contribution revenue for the years ended March 31, 2020 and 2019, respectively..." According to the Hispanic Scholarship Fund consolidated audit of March 31, 2020 (Note 19, Subsequent Events): "On July 17, 2020, the Fund received a major gift without donor restrictions in the amount of $50 million." |
According to the Hispanic Scholarship Fund audited Consolidated Statement of Activities for the year ended March 31, 2020, the Fund received in-kind contributions on which it placed a total value of $2,557,414. [Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.] |
According to the Hispanic Scholarship Fund (HSF) consolidated audit of March 31, 2020 (Note 7, Gates Millennium Scholars Program): "During fiscal year ending March 31, 2020, HSF again received a sub award of approximately $21.5 million from the Bill & Melinda Gates Foundation by way of the United Negro College Fund for the Gates Millennium Scholarship ('GMS') Program. This program was established in 1999 to provide outstanding minority students with an opportunity to complete an undergraduate college education in any discipline area of interest. This program is funded by a historic grant of more than 1 billion dollars to the United Negro College Fund ('UNCF') as the program's administrator and HSF is named as one of the sub awardees. There are 1000 awards each year with 350 allocated to HSF..." |
According to the Hispanic Scholarship Fund consolidated audit of March 31, 2020 (Note 17, Concentrations of Risk): "The Fund may be adversely affected by health epidemics including the recent coronavirus outbreak. On March 11, 2020, the World Health Organization characterized COVID-19 as a pandemic. In addition, several states in the U.S., including California, where the Fund is headquartered, have declared a state of emergency. "Potential impacts to the Fund include disruptions or restrictions on their employees' ability to work. This may include travel restrictions imposed by governments, and the inability to access the office and training facilities. COVID-19 could adversely affect the economies and financial health of many federal, state, and local governments resulting in an economic downturn that could affect demand for their services. Any of the foregoing could harm the Fund and management cannot anticipate all of the ways in which health epidemics such as COVID-19 could adversely impact the Fund. Management continues to monitor and assess the effects of the pandemic on the Fund, [but] the ultimate impact of the outbreak or a similar health epidemic is highly uncertain and subject to change." According to the Hispanic Scholarship Fund consolidated audit of March 31, 2020 (Note 19, Subsequent Events): "On April 10, 2020, the Fund obtained a PPP loan with its bank in the amount of approximately $1,071,000 with an annual fixed interest rate of 1% due in 24 months. If the Fund utilizes the loan in accordance with certain criteria established by the CARES Act, a portion or all of the loan may be forgiven." |
