CROSBY SCHOLARS COMMUNITY PARTNERSHIP

EIN: 311523230 501(c)(3) Education

WINSTONSALEM, NC

Total Revenue
$3,458,907
Total Expenses
$3,972,996
Total Assets
$8,825,082
Net Assets
$8,678,798
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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NC
Principal Officer
MONA LOVETT
Phone
3367255371
Tax Period
2024-07-01 to 2025-06-30

CROSBY SCHOLARS COMMUNITY PARTNERSHIP, founded in 1997, is a community nonprofit in the Education sector that reported $3.5M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $4.0M exceeded revenue, resulting in a 15% operating deficit.

Mission

THE CROSBY SCHOLARS PROGRAM ASSISTS PUBLIC MIDDLE AND HIGH SCHOOL STUDENTS IN FORSYTH COUNTY BY PREPARING THEM FOR SUCCESSFUL COLLEGE ENROLLMENT.

Program Service Accomplishments

Program 1
Expenses: $3,330,170 Revenue: $2,030,604

THE CROSBY SCHOLARS PROGRAM PROVIDES LAST DOLLAR GRANT ASSISTANCE TO GRADUATING SENIORS AND COLLEGE CROSBY SCHOLARS WHO SUCCESSFULLY COMPLETE THE PROGRAM. GRANTS ARE AWARDED FOR UP TO 1200 FOR UP TO...

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THE CROSBY SCHOLARS PROGRAM PROVIDES LAST DOLLAR GRANT ASSISTANCE TO GRADUATING SENIORS AND COLLEGE CROSBY SCHOLARS WHO SUCCESSFULLY COMPLETE THE PROGRAM. GRANTS ARE AWARDED FOR UP TO 1200 FOR UP TO FOUR YEARS OF COLLEGE TO STUDENTS WHO SUCCESSFULLY COMPLETE THE PROGRAM AS HIGH SCHOOL SENIORS, ACHIEVE A 2.0 CUMULATIVE GPA/QPA AND DEMONSTRATE FINANCIAL NEED AS DETERMINED BY RESULTS FROM THE FAFSA AND THE PROGRAM'S NEED ANALYSIS FORMULA. CROSBY SCHOLARS WHO ARE AWARDED A LAST DOLLAR GRANT ARE THOSE STUDENTS WHO HAVE BEEN OFFERED ADMISSION TO A PROGRAM OF STUDY, THEY HAVE COMPLETED THE FAFSA, THEY HAVE RECEIVED AN AWARD LETTER FROM THE COLLEGE THEY PLAN TO ATTEND AND THEY HAVE APPLIED FOR A LAST DOLLAR GRANT. THE STUDENTS WHO MEET THESE CRITERIA RECEIVE THE LAST DOLLAR GRANT BECAUSE THEY HAVE NOT RECEIVED ENOUGH FINANCIAL AID TO COVER THE COST OF ATTENDANCE IN THAT PARTICULAR SCHOOL YEAR. THE PROGRAM HELPS STUDENTS PREPARE FOR COLLEGE BY ENCOURAGING THEM TO MAKE GOOD DECISIONS, BY HELPING THEM DEVELOP STRONG ACADEMIC SKILLS AND BY HELPING THEM TO UNDERSTAND THE REQUIREMENTS FOR COLLEGE ADMISSION EARLY. WITH THIS GUIDANCE, STUDENTS CAN PREPARE FOR COLLEGE ENROLLMENT AND SCHOLARSHIP/FINANCIAL AID OPPORTUNITIES. STUDENTS CAN JOIN THE CROSBY SCHOLARS PROGRAM AS EARLY AS 6TH GRADE TO BEGIN THE PROCESS OF PREPARING FOR COLLEGE. STUDENTS ATTEND WORKSHOPS CALLED SATURDAY ACADEMY ON COLLEGE CAMPUSES. THE SATURDAY ACADEMY WORKSHOPS INCLUDE TOPICS SUCH AS ANGER MANAGEMENT, BUILDING SELF-ESTEEM, SPEECH AND COMMUNICATION, TIME MANAGEMENT, STUDY SKILLS, TEST TAKING SKILLS, CONFLICT RESOLUTION, PREPARING FOR THE SAT, CAREER EXPLORATION, COLLEGE ADMISSIONS, SCHOLARSHIPS, FINANCIAL AID AND COLLEGE SURVIVAL SKILLS. THESE CLASSES HELP STUDENTS DEVELOP THE FOUNDATION FOR SUCCESS THAT WILL HELP THEM BECOME BETTER PREPARED FOR COLLEGE. STUDENTS IN GRADES 9-11 MEET MONTHLY WITH VOLUNTEERS TO BETTER PREPARE FOR SUCCESSFUL COLLEGE ENROLLMENT, AND SENIOR CROSBY SCHOLARS MEET ONE ON ONE WITH AN ADVISOR TO HELP WITH THE SENIOR YEAR COLLEGE APPLICATION AND SCHOLARSHIP PROCESS.

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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 $1,065,163
Program Service Revenue $2,030,604
Investment Income $124,939
Other Revenue $238,201
TOTAL REVENUE $3,458,907

Expense Breakdown

Grants Paid $1,116,245
Salaries & Benefits $1,997,346
Fundraising Expenses $219,100
Program Expenses $3,330,170
Other Expenses $859,405
TOTAL EXPENSES $3,972,996

Year-over-Year Comparison

2024 2023 Change
Revenue $3,458,907 $3,913,641 -0.1%
Expenses $3,972,996 $3,507,169 +0.1%
Net Income $-514,089 $406,472 -2.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
23
Independent Members
23
Employees
71
Volunteers
150

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
6
$161,806
Total Directors
24
$161,806
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MONA LOVETT EXECUTIVE DI 40.00
Officer Director
$138,990 $22,816 $161,806
TIFFANY PARMS DIRECTOR 1.00
Director
$0 $0 $0
SELENA MCLAUGHLIN DIRECTOR 1.00
Director
$0 $0 $0
TAMISHA HOLLAND CLARK DIRECTOR 1.00
Director
$0 $0 $0
RACHEL JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
TRICIA MCMANUS DIRECTOR 1.00
Director
$0 $0 $0
DON GELETKO DIRECTOR 1.00
Director
$0 $0 $0
MARQUIS BARNETT DIRECTOR 1.00
Director
$0 $0 $0
TONY ROMEO DIRECTOR 1.00
Director
$0 $0 $0
CHAD BROWN DIRECTOR 1.00
Director
$0 $0 $0
ANNAMARIE D'SOUZA DIRECTOR 1.00
Director
$0 $0 $0
FRANK INGRAM DIRECTOR 1.00
Director
$0 $0 $0
PHILLIP PETROS DIRECTOR 1.00
Director
$0 $0 $0
JEREMIAH SHIPP DIRECTOR 1.00
Director
$0 $0 $0
LATIDA SMITH DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL PISCETELLI DIRECTOR 1.00
Director
$0 $0 $0
PRESTON ROSEBORO DIRECTOR 1.00
Director
$0 $0 $0
KIZZY LEA DIRECTOR 1.00
Director
$0 $0 $0
NICOLE DUCOUER DIRECTOR 1.00
Director
$0 $0 $0
NATALIE JENSEN-NOLL CHAIR 1.00
Officer Director
$0 $0 $0
CHRIS FOX BEG MAR 2025 VICE CHAIR 1.00
Officer Director
$0 $0 $0
JOYCE CARSON SECRETARY 1.00
Officer Director
$0 $0 $0
ANNE WESTBROOK TREASURER 1.00
Officer Director
$0 $0 $0
GINGER SALT IMMEDIATE PA 1.00
Officer 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 $3,458,907 $3,972,996 $8,825,082 $-514,089
2024 $3,913,641 $3,507,169 $8,160,391 $406,472
2023 $4,732,064 $3,225,693 $7,483,379 $1,506,371
2022 $3,974,703 $2,882,378 $5,853,564 $1,092,325
2021 $4,843,303 $2,882,542 $4,876,190 $1,960,761
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