THE CENTRAL SCHOLARSHIP BUREAU INC

EIN: 526012589 501(c)(3)

OWINGS MILLS, MD

Total Revenue
$1,613,952
Total Expenses
$1,944,726
Total Assets
$13,118,784
Net Assets
$12,817,453
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1924
Legal Domicile
MD
Principal Officer
TIERRA DORSEY
Phone
4104155558
Tax Period
2023-07-01 to 2024-06-30

THE CENTRAL SCHOLARSHIP BUREAU INC, founded in 1924, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 20% operating deficit.

Mission

THE CENTRAL SCHOLARSHIP BUREAU, INC. (ORGANIZATION) IS A MARYLAND NON-STOCK NOT-FOR-PROFIT ORGANIZATION THAT HELPS MARYLANDERS FULFILL THEIR DREAMS OF PURSUING HIGHER EDUCATION BY MAKING HIGHER EDUCATION MORE AFFORDABLE. (CONTINUED IN SCHEDULE O)THE ORGANIZATION AWARDS NEED-BASED SCHOLARSHIPS AND INTEREST-FREE LOANS TO HIGH-PERFORMING STUDENTS THROUGHOUT MARYLAND, OFFERS COLLEGE CASH FINANCIAL EDUCATION SEMINARS TO STUDENTS AND PARENTS TO HELP THEM BECOME MORE INFORMED HIGHER EDUCATION CONSUMERS AND ADVOCATES FOR LEGISLATION THAT MAKES HIGHER EDUCATION MORE AFFORDABLE FOR ALL MARYLANDERS.

Program Service Accomplishments

Program 1
Expenses: $1,205,711

CENTRAL SCHOLARSHIP (CS) PROVIDES NEED-BASED SCHOLARSHIPS FOR HIGH-PERFORMING STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL DEGREES. FOR MOST PROGRAMS, STUDENTS ARE ELIGIBLE FOR UP TO...

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CENTRAL SCHOLARSHIP (CS) PROVIDES NEED-BASED SCHOLARSHIPS FOR HIGH-PERFORMING STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL DEGREES. FOR MOST PROGRAMS, STUDENTS ARE ELIGIBLE FOR UP TO $11,000 PER YEAR IN ASSISTANCE FOR POST-SECONDARY EDUCATION. DURING THE FISCAL YEAR ENDED JUNE 30, 2024, CS PROCESSED NEARLY 3,835 APPLICATIONS AND AWARDED 185 SCHOLARSHIPS TO STUDENTS.CS PROVIDES GRANTS FOR DEGREE AND CAREER TRAINING CERTIFICATE PROGRAMS, AND CS PROVIDES THE OPPORTUNITY FOR STUDENTS RECEIVING FUNDING FOR DEGREE PROGRAMS WITH EMERGENCY GRANTS FOR NON-EDUCATION EXPENSES. EXAMPLES OF SUCH EXPENSES INCLUDE MEDICAL BILLS, TRANSPORTATION EMERGENCIES, OR REPLACEMENT OF ESSENTIAL BELONGINGS AFTER THEFT OR FIRE. DURING THE FISCAL YEAR ENDING ON JUNE 30, 2024, CS MADE EMERGENCY GRANTS TO 8 STUDENTS TOTALING $9,196. CAREER-TRAINING SCHOLARSHIPS ARE AVAILABLE FOR FIELDS WHERE THERE IS A VERIFIED WORKFORCE DEMAND, AN OPPORTUNITY TO EARN A LIVING WAGE, RECOGNIZED CREDENTIALS UPON PROGRAM COMPLETION AND A PATH FOR CAREER ADVANCEMENT. STUDENTS ARE QUALIFIED BASED ON FINANCIAL NEED, WITH PREFERENCE GIVEN TO BALTIMORE CITY RESIDENTS. DURING THE FISCAL YEAR ENDING ON JUNE 30, 2024, CS AWARDED CAREER-TRAINING SCHOLARSHIPS TO 26 STUDENTS.

Program 2
Expenses: $169,608

INTEREST-FREE LOANS ARE AWARDED TO STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOL DEGREES WHO QUALIFY BASED ON FINANCIAL NEED AND ACADEMIC PERFORMANCE. STUDENTS ARE ELIGIBLE FOR UP...

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INTEREST-FREE LOANS ARE AWARDED TO STUDENTS PURSUING UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOL DEGREES WHO QUALIFY BASED ON FINANCIAL NEED AND ACADEMIC PERFORMANCE. STUDENTS ARE ELIGIBLE FOR UP TO $10,000 IN ASSISTANCE FOR POST-SECONDARY EDUCATION. NEW LOANS OF $104,625 WERE AWARDED TO 40 STUDENTS IN THE FISCAL YEAR ENDING JUNE 30, 2024. CENTRAL SCHOLARSHIP (CS) ALSO MANAGED EXISTING LOANS OF APPROXIMATELY $1,465,000 FOR MORE THAN 375 STUDENTS

Program 3
Expenses: $105,219

CS'S STUDENT AWARDS CEREMONY RECOGNIZES SCHOLARSHIP RECIPIENTS FOR THE CURRENT YEAR. PAST RECIPIENTS WHO HAVE GRADUATED ARE INVITED TO APPLY FOR THE LOAN PAYDOWN AWARD, WHICH PROVIDES ONE RANDOMLY...

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CS'S STUDENT AWARDS CEREMONY RECOGNIZES SCHOLARSHIP RECIPIENTS FOR THE CURRENT YEAR. PAST RECIPIENTS WHO HAVE GRADUATED ARE INVITED TO APPLY FOR THE LOAN PAYDOWN AWARD, WHICH PROVIDES ONE RANDOMLY DRAWN STUDENT UP TO $30,000 FOR UNDERGRADUATE STUDENT DEBT RELIEF (NOT INCLUDING LOANS FROM CS).

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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 $1,231,779
Program Service Revenue $10,000
Investment Income $363,936
Other Revenue $8,237
TOTAL REVENUE $1,613,952

Expense Breakdown

Grants Paid $743,758
Salaries & Benefits $591,497
Fundraising Expenses $268,755
Program Expenses $1,480,538
Other Expenses $609,471
TOTAL EXPENSES $1,944,726

Year-over-Year Comparison

2023 2022 Change
Revenue $1,613,952 $2,276,776 -0.3%
Expenses $1,944,726 $1,896,034 +0.0%
Net Income $-330,774 $380,742 -1.9%
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
18
Independent Members
17
Employees
9
Volunteers
46

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
7
$165,100
Total Directors
21
$165,100
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JERRY FOCAS PAST BOARD CHAIR 1.00
Director
$0 $0 $0
RUSS CAUSEY PAST BOARD CHAIR 1.00
Director
$0 $0 $0
DAVID ROTHSCHILD BOARD CHAIR 2.00
Officer Director
$0 $0 $0
TIM REDMOND TREASURER 2.00
Officer Director
$0 $0 $0
MOLLY SHOCK VICE CHAIR 2.00
Officer Director
$0 $0 $0
MICHAEL WARD PAST BOARD CHAIR 1.00
Director
$0 $0 $0
JEAN WYMAN SECRETARY UNTIL SEP 2023 2.00
Officer Director
$0 $0 $0
LIZ BLOCK DIRECTOR 1.00
Director
$0 $0 $0
SUSAN SILBERMAN DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL DAVENPORT DIRECTOR 1.00
Director
$0 $0 $0
BRUCE ROSENBERG DIRECTOR 1.00
Director
$0 $0 $0
DAVID FISHMAN DIRECTOR 1.00
Director
$0 $0 $0
ARNOLD FRUMAN DIRECTOR UNTIL SEP 2023 1.00
Director
$0 $0 $0
TIERRA A DORSEY PRESIDENT 40.00
Officer Director
$154,333 $10,767 $165,100
DAVID DANEMAN VICE CHAIR 1.00
Officer Director
$0 $0 $0
LEAH DAVIDGE DIRECTOR 1.00
Director
$0 $0 $0
DAVID LEVY DIRECTOR 1.00
Director
$0 $0 $0
KASHAY WEBB SECRETARY AS OF OCT 2023 1.00
Officer Director
$0 $0 $0
JAMES COLE ABRAMS DIRECTOR 1.00
Director
$0 $0 $0
BARBARA SUGARMAN GROCHAL DIRECTOR 1.00
Director
$0 $0 $0
MYRA NORTON DIRECTOR 1.00
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 No data No data No data No data
2024 $1,613,952 $1,944,726 $13,118,784 $-330,774
2023 $2,276,776 $1,896,034 $12,870,890 $380,742
2022 $1,811,840 $1,770,406 $11,833,358 $41,434
2022 $1,811,840 $1,772,678 $11,833,358 $39,162
2021 $1,887,569 $1,745,761 $13,449,299 $141,808
2020 $1,318,439 $1,964,085 $12,404,066 $-645,646
2019 $1,879,066 $2,206,956 $12,838,016 $-327,890
2018 $3,053,653 $2,071,210 $12,875,990 $982,443
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