Iredell County Crosby Scholars Community Partnership

EIN: 474195074 501(c)(3) Education

WinstonSalem, NC

Total Revenue
$538,871
Total Expenses
$602,487
Total Assets
$196,854
Net Assets
$118,932
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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
NC
Phone
7048735005
Tax Period
2023-01-01 to 2023-12-31

Iredell County Crosby Scholars Community Partnership, founded in 2015, is a small nonprofit in the Education sector that reported $539K in total revenue in fiscal year 2023. Expenses of $602K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO ASSIST PUBLIC MIDDLE AND HIGH SCHOOL STUDENTS IN IREDELL COUNTY IN PREPARING THEMSELVES FOR SUCCESSFUL COLLEGE ENROLLMENT.

Program Service Accomplishments

Program 1
Expenses: $375,018

This is a college access program through which public school students begin to prepare academically, financially, and personally for successful college admission as early as middle school. We are...

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This is a college access program through which public school students begin to prepare academically, financially, and personally for successful college admission as early as middle school. We are partnered with Goodwill of Northwest North Carolina and modeled after the successful Crosby Scholars Community Partnership in Forsyth County, which graduates 100% of its seniors and sends 98% of its graduates on to access post-secondary education. Every public sixth through tenth grade student in Iredell County is eligible to apply to our program. Once admitted, students must fulfill a few requirements each year to remain active in the Crosby Scholars program. Middle school students must attend a Crosby academy, complete community service hours, and follow school policies (i.e., no out-of-school suspensions). High school students have additional activities such as college visits or college fairs, advising meetings, and continued community service which are required to progress through the program. Seniors who complete the program and graduate as a Crosby Scholar are eligible to apply for scholarships and grants through our program. Student enrollment in Fall of 2023 totaled 1,774 students. Of those, 1,466 students received credit for attending our academy workshops. 1,432 of our students completed their community service requirement and together have provided 10,156 volunteer work hours. In our ninth year, our student pool included 243 Scholars in our sixth senior class. Iredell Crosby Scholars provides college access training to parents, guardians, and volunteers so that each senior has a 1:1 advisor to meet with throughout the school year for assistance with the college process. In addition to the individual meetings, senior academy workshops were held to help with essay writing, college applications, standardized test taking, understanding financial aid, and general preparation for the freshman year of college. In 2023, the program awarded $23,050 in the form of scholarships to a total of 21 students. Need-based grants totaling $37,092 were awarded to 47 students. These grants were available to new graduates and continuing college students who graduated from our program and still demonstrated need and who maintained at least a 2.0 college GPA.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $544,611
Program Service Revenue $0
Investment Income $0
Other Revenue $-5,740
TOTAL REVENUE $538,871

Expense Breakdown

Grants Paid $60,464
Salaries & Benefits $379,758
Fundraising Expenses $51,928
Program Expenses $375,018
Other Expenses $162,265
TOTAL EXPENSES $602,487

Year-over-Year Comparison

2023 2022 Change
Revenue $538,871 $505,034 +0.1%
Expenses $602,487 $520,074 +0.2%
Net Income $-63,616 $-15,040 +3.2%
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
15
Independent Members
14
Employees
N/A
Volunteers
170

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
$426,235
Total Directors
14
$480,499
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR, EX-OFFICIO 1.0
Director
$0 $53,367 $480,499
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR, EX-OFFICIO 1.0
Director
$0 $0 $0
N/A DIRECTOR 1.0
Director
$0 $0 $0
N/A DIRECTOR, SECRETARY 1.0
Officer
$0 $0 $0
N/A DIRECTOR, TREASURER 1.0
Officer
$0 $70,934 $333,226
N/A DIRECTOR, CHAIR 1.0
Officer
$0 $0 $0
N/A EXECUTIVE DIRECTOR 40.0
Officer
$73,738 $19,271 $93,009
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 $538,871 $602,487 $196,854 $-63,616
2022 $505,034 $520,074 $250,839 $-15,040
2021 $421,089 $432,109 $249,731 $-11,020
2020 $430,766 $414,546 $265,565 $16,220
2019 $456,242 $366,214 $234,438 $90,028
2018 $342,520 $332,377 $121,838 $10,143
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