THE CHILDRENS SCHOLARSHIP FUND

EIN: 134002189 501(c)(3) Education

New York, NY

Total Revenue
$31,727,311
Total Expenses
$25,476,305
Total Assets
$64,836,208
Net Assets
$46,009,052
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NY
Principal Officer
Darla Romfo
Phone
2125157100
Tax Period
2024-09-01 to 2025-08-31

THE CHILDRENS SCHOLARSHIP FUND, founded in 1998, is a mid-sized nonprofit in the Education sector that reported $31.7M in total revenue in fiscal year 2024. The organization ran a surplus of $6.3M, a strong 20% operating margin.

Mission

The Children's Scholarship Fund (CSF) empowers families by providing children in need with scholarships, and by supporting expanded educational opportunities for all children.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $27,037,249
Program Service Revenue $2,263,190
Investment Income $2,432,235
Other Revenue $-5,363
TOTAL REVENUE $31,727,311

Expense Breakdown

Grants Paid $20,145,756
Salaries & Benefits $3,893,292
Fundraising Expenses $1,281,737
Program Expenses $23,707,927
Other Expenses $1,384,618
TOTAL EXPENSES $25,476,305

Year-over-Year Comparison

2024 2023 Change
Revenue $31,727,311 $29,582,645 +0.1%
Expenses $25,476,305 $24,608,665 +0.0%
Net Income $6,251,006 $4,973,980 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
11
Employees
34
Volunteers
133

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$871,882
Total Directors
13
$398,541
Key Employees
3
$592,747
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Darla M Romfo President & CEO 40
Officer Director
$361,448 $37,093 $398,541
Kathleen Doran CFO 40
Officer
$248,586 $32,532 $281,118
Katie J Baker Demers Executive Director New Hampshire Programs 40
Key Emp
$194,862 $25,805 $220,667
Michele Mitola VP Strategic Planning & Development 40
Key Emp
$207,287 $11,281 $218,568
Elizabeth Toomey Corporate Secretary 40
Officer
$167,754 $24,469 $192,223
Amy Popadick Director of Strategic Partnerships 40
Highest
$155,298 $25,805 $181,103
Marie M Bathelmy Director of Scholarship Operations 40
Key Emp
$130,712 $22,800 $153,512
Kelly D Belmonte Director of Donor Engagement 40
Highest
$107,875 $6,199 $114,074
Matthew Bonanno Co Chair 2
Director
$0 $0 $0
Margot McGinness Co Chair 2
Director
$0 $0 $0
Jeffrey Chang Board Member 1
Director
$0 $0 $0
Stephen Fraidin Board Member 1
Director
$0 $0 $0
Christopher Halpin Board Member 1
Director
$0 $0 $0
Xavier James Board Member 1
Director
$0 $0 $0
David E Johnson Board Member 1
Director
$0 $0 $0
Mike McCurry Board Member 1
Director
$0 $0 $0
Kevin Short resigned Sept 12 2024 Board Member 1
Director
$0 $0 $0
Sandra Swirski Board Member 1
Director
$0 $0 $0
Remy Trafelet Board Member 1
Director
$0 $0 $0
Juan Williams Board Member 1
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $31,727,311 $25,476,305 $64,836,208 $6,251,006
2024 $29,582,645 $24,608,665 $55,709,040 $4,973,980
2023 $25,015,263 $22,876,068 $40,912,471 $2,139,195
2022 $24,710,520 $23,317,744 $36,136,002 $1,392,776
2021 $29,369,335 $23,353,662 $31,602,200 $6,015,673
2020 $27,592,882 $24,509,577 $25,476,794 $3,083,305
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