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Hispanic Scholarship Fund

CharityWatch rating issued
August 2024

Top-Rated Charity
A+
CharityWatch Rating
Our independent rating 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.
Ratings & Metrics

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

Ratings & Metrics

Learn more about Ratings & Metrics
Data based on Fiscal Year Ended 03/31/2023

Program Percentage: 92%

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

$48,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $1

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

$40,000,000

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 Audited Consolidated Financial Statements Multiple
Hispanic Scholarship Fund IRS Form 990 52-1051044
Entity: Hispanic Scholarship Fund
Document Type: Audited Consolidated Financial Statements
Tax ID: Multiple
Entity: Hispanic Scholarship Fund
Document Type: IRS Form 990
Tax ID: 52-1051044

Governance & Transparency

Learn more about 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  

Top Salaries

Learn more about Top Salaries
  Name Title Compensation
1 Fidel A. Vargas President/CEO $826,718
2 Julie Hite COO $510,849
3 Tammy Schlegel CIO $335,621
1
Name: Fidel A. Vargas
Title: President/CEO
Compensation: $826,718
2
Name: Julie Hite
Title: COO
Compensation: $510,849
3
Name: Tammy Schlegel
Title: CIO
Compensation: $335,621

Analysts' Notes

Learn more about Analysts' Notes
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 audited Consolidated Statement of Activities for the year ended March 31, 2023, the Fund received in-kind contributions on which it placed a total value of $4,256,814.

[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 consolidated audit of March 31, 2023 (Note 20, Related Parties):

"Certain board members and their employers made contributions on an individual basis as well as through corporations by whom they are employed. For the years ended March 31, 2023, and 2022, such total contributions were approximately $10,106,438 and $11,891,126, respectively. Included in the years ended March 31, 2023, and 2022 is approximately $3,280,370 and $5,100,766 of in-kind donations, respectively."

According to the Hispanic Scholarship Fund consolidated audit of March 31, 2023 (Note 18, Concentrations of Risk):

"Two donors comprised approximately 49% and 37% of the contribution revenue for the years ended March 31, 2023, and 2022, respectively..."

According to the Hispanic Scholarship Fund (HSF) consolidated audit of March 31, 2023 (Note 8, Gates Millennium Scholars Program):

"During fiscal year ending March 31, 2023, HSF again received a sub award of approximately $8.3 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. 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. While the program is no longer selecting new cohorts, there were 1000 wards each year with 350 allocated to HSF, and each individual award supports for cost of education by covering unmet need and self-help aid, including graduate school funding for continuing scholars. Continuing Gates Millennium Scholars may request funding in any of the following discipline areas: computer science, education, engineering, library science, mathematics, public health or science."