CENTRAL PENNSYLVANIA SCHOLARSHIP FUND

EIN: 454423429 501(c)(3) Education

TYRONE, PA

Total Revenue
$69,551,076
Total Expenses
$55,187,999
Total Assets
$68,395,001
Net Assets
$68,395,001
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
PA
Principal Officer
RANDY TARPEY
Phone
8149424406
Tax Period
2023-01-01 to 2023-12-31

CENTRAL PENNSYLVANIA SCHOLARSHIP FUND, founded in 2012, is a mid-sized nonprofit in the Education sector that reported $69.6M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $14.4M, a strong 21% operating margin.

Mission

PROVIDE EDUCATIONAL OPPORTUNITY THRU EDUCATIONAL CHOICE TO STUDENTS FROM LOW AND MIDDLE INCOME FAMILIES FACILITATED USING SCHOLARSHIPS AND EDUCATIONAL IMPROVEMENT PROGRAMS.

Program Service Accomplishments

Program 1
Expenses: $54,397,599 Revenue: $68,171,109

PROVIDE EDUCATIONAL OPPORTUNITY THRU EDUCATIONAL CHOICE TO STUDENTS FROM LOW AND MIDDLE INCOME FAMILIES USING SCHOLARSHIPS TO FUND TUITION AT PRIVATE SCHOOLS IN CENTRAL PENNSYLVANIA AND EDUCATIONAL...

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PROVIDE EDUCATIONAL OPPORTUNITY THRU EDUCATIONAL CHOICE TO STUDENTS FROM LOW AND MIDDLE INCOME FAMILIES USING SCHOLARSHIPS TO FUND TUITION AT PRIVATE SCHOOLS IN CENTRAL PENNSYLVANIA AND EDUCATIONAL IMPROVEMENT PROGRAMS AT PENNSYLANIA PUBLIC SCHOOLS AND THEIR ASSIGNS AND GRANTS TO OTHER CHARITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $68,171,109
Program Service Revenue $0
Investment Income $1,376,287
Other Revenue $3,680
TOTAL REVENUE $69,551,076

Expense Breakdown

Grants Paid $54,397,599
Salaries & Benefits $297,611
Fundraising Expenses $13,905
Program Expenses $54,397,599
Other Expenses $492,789
TOTAL EXPENSES $55,187,999

Year-over-Year Comparison

2023 2022 Change
Revenue $69,551,076 $55,334,922 +0.3%
Expenses $55,187,999 $43,811,817 +0.3%
Net Income $14,363,077 $11,523,105 +0.2%
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

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Governance

Voting Members
7
Independent Members
7
Employees
7
Volunteers
700

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
4
$183,140
Total Directors
7
$183,140
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RANDY TARPEY PRESIDENT 10.00
Officer Director
$34,500 $0 $34,500
CHRISTOPHER PALAZZI BOARD MEMBER 1.00
Director
$0 $0 $0
EDWARD KAPLAN BOARD MEMBER 1.00
Director
$0 $0 $0
LINDSEY BENNETT SECRETARY 1.00
Officer Director
$0 $0 $0
JOSEPH ADAMS BOARD MEMBER 1.00
Director
$0 $0 $0
TAMI CLARK EXECUTIVE DIRECTOR 40.00
Officer Director
$91,800 $0 $91,800
CASI FRIES TREASURER 20.00
Officer Director
$56,840 $0 $56,840
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
2024 No data No data No data No data
2023 $69,551,076 $55,187,999 $68,395,001 $14,363,077
2022 $55,334,922 $43,811,817 $54,031,924 $11,523,105
2021 $45,167,381 $41,599,159 $42,508,819 $3,568,222
2020 $36,489,179 $29,256,888 $38,940,629 $7,232,291
2019 $30,150,094 $17,056,293 $31,708,306 $13,093,801
2018 $19,583,419 $8,113,268 $18,626,245 $11,470,151
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