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Top Rated

Hispanic Scholarship Fund

CharityWatch report issued
May 2021

Top-Rated Charity
A+
CharityWatch Grade
Our independent grade based
on a number of factors.
 
92%
Program Percentage
Amount spent on programs
relative to overhead.
 
$1
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Hispanic Scholarship Fund
1411 West 190th Street
Suite 700
Gardena, CA 90248-4376

Other Names

None

Tax Status

501(c)3

Website

www.hsf.net

Stated Mission

Through scholarships and student/family services, aims to provide students all the tools they need to get a college degree and succeed in life.

View similar charities
Data based on Fiscal Year Ended 03/31/2020

Program Percentage: 92%

The percentage of Hispanic Scholarship Fund's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$45,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $1

How many dollars Hispanic Scholarship Fund spends on fundraising to raise each $100 of contributions.

$54,000,000

Calculated Total Contributions

(rounded)

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

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

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Hispanic Scholarship Fund
meets governance benchmarks.
 
Hispanic Scholarship Fund
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy No Sharing  

  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

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

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."


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