Hispanic Scholarship Fund

CharityWatch's rating of the Hispanic Scholarship Fund (HSF) (tax ID #52-1051044) includes the financial activities of the Hispanic Scholarship Fund Institute (HSFI) (tax ID #54-2014609), a wholly-owned subsidiary whose primary activity is "to engage the public sector in support of Latino higher education" according to Schedule R, Part II, of HSF's fiscal 2026 IRS Form 990. 

According to the Hispanic Scholarship Fund (HSF) consolidated audit of March 31, 2026 (Note 17, In-Kind Goods and Services):

HSF received in-kind goods and services during fiscal 2026 on which it placed a total value of $1,799,254. 

[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, 2026 (Note 8, Gates Millennium Scholars Program):

"During fiscal year ending March 31, 2026, HSF again received a sub award of approximately $3.8 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 awards 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...

...revenue for this sub-grant was recognized in fiscal year ended March 31, 2023. The sub-grant agreement requires HSF to abide by specific performance targets, milestones, and/or reporting deliverables. At the end of the grant period, grant funds not expended or dedicated as required in the sub-grant agreement are to be reported to the grantee and applied to the subsequent grant disbursement including all interest earned on the aforementioned funds. During the year ended March 31, 2026, HSF received approximately $3.8 million of this conditional award, of which approximately $4.2 million of this and prior year funds were recognized in contributions with donor restrictions and the remaining portion of approximately $107 thousand will be recognized in future years upon certain conditions being met."

According to the Hispanic Scholarship Fund (HSF) consolidated audit of March 31, 2026 (Note 16, Concentrations of Risk):

"...One donor comprised approximately 29% and 59% of the contribution revenue for the years ended March 31, 2026 and 2025, respectively..."

According to the Hispanic Scholarship Fund (HSF) consolidated audit of March 31, 2026 (Note 18, Related Parties):

"Certain board members and corporations with which they are or have been affiliated with made contributions to the Organization. For the years ended March 31, 2026 and 2025, contributions from board members totaled approximately $298,469 and $264,217, respectively, and contributions from corporations affiliated with board members totaled approximately $4,545,000 and $1,650,900, respectively, for aggregate contributions of approximately $4,843,469 and $1,915,117, respectively. No in-kind donations were included in these amounts for the years ended March 31, 2026 and 2025."