SCHOLARSHIP FOUNDATION OF SANTA BA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1962

Legal Domicile

Principal Officer

MELINDA CABRERA

Phone

8056876065

Tax Period

2024-07-01 to 2025-06-30

SCHOLARSHIP FOUNDATION OF SANTA BARBARA, founded in 1962, is a mid-sized nonprofit that reported $31.9M in total revenue in fiscal year 2024. Revenue surged 226% from the prior year, signaling strong growth momentum. The organization ran a surplus of $21.6M, a strong 68% operating margin.

Mission

THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA INSPIRES, ENCOURAGES AND SUPPORTS SANTA BARBARA COUNTY STUDENTS TO AND THROUGH COLLEGE, GRADUATE AND VOCATIONAL SCHOOL BY PROVIDING INFORMATION, ADVISING, AND SCHOLARSHIPS.

Program Service Accomplishments

Program 1

Expenses: $8,117,387 Revenue: $85,392

THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA HELPS SANTA BARBARA COUNTY STUDENTS ACCESS POSTSECONDARY AND VOCATIONAL EDUCATION THROUGH SCHOLARSHIPS AND FINANCIAL AID ADVISING. IT IS THE NATION'S...

THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA HELPS SANTA BARBARA COUNTY STUDENTS ACCESS POSTSECONDARY AND VOCATIONAL EDUCATION THROUGH SCHOLARSHIPS AND FINANCIAL AID ADVISING. IT IS THE NATION'S LARGEST COMMUNITY-BASED PROVIDER OF POSTSECONDARY EDUCATION SCHOLARSHIPS, HAVING CUMULATIVELY AWARDED IN EXCESS OF $167 MILLION TO OVER 64,000 STUDENTS THROUGHOUT SANTA BARBARA COUNTY SINCE ITS FOUNDING IN 1962. IN 2025, THE SCHOLARSHIP FOUNDATION AWARDED $7.7 MILLION TO 2,125 SANTA BARBARA COUNTY STUDENTS. SCHOLARSHIPS FOR UNDERGRADUATES STUDYING AT TWO-YEAR AND FOUR-YEAR COLLEGES AND UNIVERSITIES AVERAGED $3,500. SIXTY-ONE PERCENT OF THIS YEAR'S RECIPIENTS ARE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. THE PRIMARY CRITERIA FOR AWARD SELECTION ARE DONOR INTENT, FINANCIAL NEED, POTENTIAL, AND MOTIVATION.

Program 2

Expenses: $650,524

THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA SERVES MORE THAN 20,000 INDIVIDUALS EACH YEAR THROUGH FINANCIAL AID WORKSHOPS AND INDIVIDUAL APPOINTMENTS. SPECIFICALLY, SCHOLARSHIP FOUNDATION PROGRAM...

THE SCHOLARSHIP FOUNDATION OF SANTA BARBARA SERVES MORE THAN 20,000 INDIVIDUALS EACH YEAR THROUGH FINANCIAL AID WORKSHOPS AND INDIVIDUAL APPOINTMENTS. SPECIFICALLY, SCHOLARSHIP FOUNDATION PROGRAM ADVISORS ASSIST STUDENTS WITH SCHOLARSHIP APPLICATIONS, HELP DECIPHER COMPLEX FEDERAL AND STATE FINANCIAL AID FORMS, AND EXPLAIN FINANCIAL AID AWARD LETTERS AND LOAN PROGRAMS, ALL FREE OF CHARGE. OFFICE FINANCIAL AID WORKSHOPS AND PRESENTATIONS TAKE PLACE AT SCHOOLS THROUGHOUT SANTA BARBARA COUNTY. FINANCIAL AID ADVISING APPOINTMENTS ARE AVAILABLE FOR STUDENTS AND THEIR FAMILIES COUNTYWIDE. THE ORGANIZATION EMPLOYS FOUR FULL- TIME BILINGUAL PROGRAM ADVISORS. THANKS TO OUR PROGRAMS TEAM, SCHOLARSHIP FOUNDATION RECIPIENTS RECEIVE TENS OF MILLIONS OF DOLLARS IN ADDITIONAL FEDERAL, STATE, AND INSTITUTIONAL AID EACH YEAR.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,002,048

Program Service Revenue $85,392

Investment Income $17,824,271

Other Revenue $-36,676

TOTAL REVENUE $31,875,035

Expense Breakdown

Grants Paid $7,509,261

Salaries & Benefits $1,991,581

Fundraising Expenses $667,226

Program Expenses $8,767,911

Other Expenses $807,390

TOTAL EXPENSES $10,320,320

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,875,035	$9,786,365	+2.3%
Expenses	$10,320,320	$9,300,394	+0.1%
Net Income	$21,554,715	$485,971	+43.4%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

100

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

$442,401

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANNA MCGREW	BOARD CHAIR	8.00	Officer Director	$0	$0	$0
PAMELA GANN	VICE CHAIR	3.00	Officer Director	$0	$0	$0
PHILIP FRANKLIN	SECRETARY	3.00	Officer Director	$0	$0	$0
JENNIFER BROWN	DIRECTOR	2.00	Director	$0	$0	$0
ANNA BURNBAUM	DIRECTOR	2.00	Director	$0	$0	$0
JULIA CARVER	DIRECTOR	2.00	Director	$0	$0	$0
SARAH CHRISMAN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID DURON	DIRECTOR	2.00	Director	$0	$0	$0
MARY DWYER	DIRECTOR	2.00	Director	$0	$0	$0
TIM FIGUEROA	DIRECTOR	2.00	Director	$0	$0	$0
JANET GARUFIS	DIRECTOR	2.00	Director	$0	$0	$0
GUILLE GIL-REYNOSO	DIRECTOR	2.00	Director	$0	$0	$0
ALAN GRIFFIN	DIRECTOR	2.00	Director	$0	$0	$0
CHARLIE HUINER	DIRECTOR	2.00	Director	$0	$0	$0
TESSA KAGANOFF	DIRECTOR	2.00	Director	$0	$0	$0
KELLY KNIGHT	DIRECTOR	2.00	Director	$0	$0	$0
AIMEE MILLER	DIRECTOR	2.00	Director	$0	$0	$0
EMIL NAZARETYAN	DIRECTOR	2.00	Director	$0	$0	$0
KATHY O'LEARY	DIRECTOR	2.00	Director	$0	$0	$0
MARTY PLOURD	DIRECTOR	2.00	Director	$0	$0	$0
CARRIE RANDOLPH	DIRECTOR	2.00	Director	$0	$0	$0
NANCY RANSOHOFF	DIRECTOR	2.00	Director	$0	$0	$0
MATT ROWE	DIRECTOR	2.00	Director	$0	$0	$0
TRACEY SOLOMON	DIRECTOR	2.00	Director	$0	$0	$0
GEORGE THURLOW	DIRECTOR	2.00	Director	$0	$0	$0
DONNA WEIDL	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL YOUNG	DIRECTOR	2.00	Director	$0	$0	$0
YOLANDA GARCIA	DIRECTOR	2.00	Director	$0	$0	$0
EMILIO HANDALL	DIRECTOR	2.00	Director	$0	$0	$0
MELINDA CABRERA	CEO	40.00	Officer	$242,727	$17,908	$260,635
JAMES HUTCHINSON	CFO	40.00	Officer	$169,294	$12,472	$181,766
TIM DOUGHERTY	CHIEF COMMUNICATIONS OFFICER	40.00	Highest	$153,156	$12,047	$165,203
LYNNRAE DUNN	DEVELOPMENT DIRECTOR	40.00	Highest	$142,297	$7,661	$149,958

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	$31,875,035	$10,320,320	$88,807,931	$21,554,715
2024	$9,786,365	$9,300,394	$75,961,748	$485,971
2023	$10,459,065	$9,149,947	$68,972,600	$1,309,118
2022	$9,987,149	$8,622,254	$64,291,323	$1,364,895
2021	$10,689,149	$8,900,784	$74,237,459	$1,788,365
2020	$8,981,159	$7,543,859	$58,672,330	$1,437,300
2019	$11,406,790	$9,200,854	$58,635,294	$2,205,936

SCHOLARSHIP FOUNDATION OF SANTA BARBARA