SARATOGA SPONSOR-A-SCHOLAR

EIN: 753038965 501(c)(3) Arts, Culture & Humanities

SARATOGA SPRINGS, NY

Total Revenue
$391,840
Total Expenses
$216,560
Total Assets
$2,067,502
Net Assets
$2,067,502
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
NY
Principal Officer
CYNTHIA D HOLLOWOOD
Phone
5182077682
Tax Period
2023-01-01 to 2023-12-31

SARATOGA SPONSOR-A-SCHOLAR, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $392K in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $175K, a strong 45% operating margin.

Mission

OUR MISSION IS "...TO ASSIST ECONOMICALLY DISADVANTAGED YOUNG MEN AND WOMEN TO COMPLETE HIGH SCHOOL AND GRADUATE FROM COLLEGE."

Program Service Accomplishments

Program 1
Expenses: $199,709

SCHOLARSSARATOGA SPONSOR-A-SCHOLAR SELECTS STUDENTS MOTIVATED TO ACHIEVE ACADEMICALLY WHO COULD USE ADDITIONAL SUPPORT AND DIRECTION TO MEET THEIR GOALS. ELIGIBLE STUDENTS MUST HAVE A B/C AVERAGE...

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SCHOLARSSARATOGA SPONSOR-A-SCHOLAR SELECTS STUDENTS MOTIVATED TO ACHIEVE ACADEMICALLY WHO COULD USE ADDITIONAL SUPPORT AND DIRECTION TO MEET THEIR GOALS. ELIGIBLE STUDENTS MUST HAVE A B/C AVERAGE, DEMONSTRATE A COMMITMENT TO THEIR EDUCATION AND BE ECONOMICALLY DISADVANTAGED. STUDENTS ARE NOMINATED BY GUIDANCE COUNSELORS AND TEACHERS IN THE NINTH GRADE AND SELECTED BY A RIGOROUS PROCESS THAT INCLUDES AN APPLICATION, RECOMMENDATIONS AND AN INTERVIEW WITH STUDENTS AND FAMILIES. MANY STUDENTS ARE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. STUDENTS PARTICIPATE IN THE PROGRAM FROM SOPHOMORE YEAR THROUGH COLLEGE GRADUATION.ACADEMIC SUPPORTSTUDENTS ENROLLED IN SARATOGA SPONSOR-A-SCHOLAR ATTEND SARATOGA SPRINGS HIGH SCHOOL. TWO ACADEMIC COORDINATORS FROM THE HIGH SCHOOL GUIDANCE DEPARTMENT OVERSEE THE ENROLLMENT AND APPLICATION PROCESS. TUTORS AT HOMEWORK SESSIONS ARE CLASSROOM TEACHERS FROM EACH MAJOR SUBJECT AREA OR MEMBERS OF THE COMMUNITY WHO ARE EXPERTS IN THEIR FIELD. SPONSOR-A-SCHOLAR ALSO ENCOURAGES AND PROVIDES FUNDING FOR ADVANCED PLACEMENT (AP) COURSES AND PSAT/SAT TRAINING. SPONSORS AND DONORSTO PAY FOR THE PARTICIPATION OF THE STUDENTS IN OUR PROGRAM, SSAS ENLISTS A COMBINATION OF INDIVIDUAL, FOUNDATION OR CORPORATE SPONSORS EACH YEAR. SPONSORSHIP OF A SINGLE STUDENT IN THE PROGRAM IS $10,000, $4,000 OF WHICH PROVIDES ACADEMIC TUTORING AND COLLEGE PREPARATORY WORK DURING HIGH SCHOOL. SSAS PROVIDES STUDENTS WITH ANNUAL CASH STIPENDS OF $2,500 FOR EVERY SUCCESSFUL YEAR OF COLLEGE THEY COMPLETE. SOME INDIVIDUALS SPONSOR MULTIPLE STUDENTS WHILE OTHERS TEAM UP TO CO-SPONSOR A SINGLE STUDENT. DONORS MAY MAKE A FINANCIAL CONTRIBUTION IN ANY AMOUNT. MENTORSEACH SCHOLAR IS MATCHED WITH AN ADULT MENTOR WHEN THEY BEGIN THE PROGRAM. PREREQUISITES FOR BECOMING A MENTOR INCLUDE A COLLEGE DEGREE, MAKING A COMMITMENT TO MEET AT LEAST ONCE A MONTH FOR THREE YEARS OF HIGH SCHOOL AND THE FIRST YEAR OF COLLEGE. MENTORS SERVE AS AN ADULT ROLE MODEL AND ALSO HELP STUDENTS IDENTIFY COLLEGE RESOURCES. THE MENTOR/STUDENT RELATIONSHIP SERVES AS A VALUABLE SOURCE OF SUPPORT TO SCHOLARS SEEKING A SEASONED PERSPECTIVE AND AN ACTIVE LISTENER.COMMUNITYTHE MISSION OF THE SARATOGA SPONSOR-A-SCHOLAR PROGRAM IS TO INCREASE ACCESS TO HIGHER EDUCATIONAL PROGRAMS BY OFFERING SUPPORT IN THE FORM OF TIME, MENTORS AND MONEY. THE DIRECT BENEFICIARIES OF THE PROGRAM INCLUDE STUDENTS AND THEIR FAMILIES. HOWEVER, OUR HOPE IS ALSO THAT THE COMMUNITY AT LARGE WILL ALSO BENEFIT FROM SPONSOR-A-SCHOLAR STUDENTS RETURNING WITH COLLEGE DEGREES TO WORK AND IMPROVE THE OVERALL CULTURE OF OUR COMMUNITY.UP TO APPROXIMATELY 70 STUDENTS PARTICIPATE IN SSAS PROGRAMS EACH YEAR.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $312,452
Program Service Revenue $0
Investment Income $79,388
Other Revenue $0
TOTAL REVENUE $391,840

Expense Breakdown

Grants Paid $99,226
Salaries & Benefits $35,000
Fundraising Expenses $1,750
Program Expenses $199,709
Other Expenses $82,334
TOTAL EXPENSES $216,560

Year-over-Year Comparison

2023 2022 Change
Revenue $391,840 $319,737 +0.2%
Expenses $216,560 $199,852 +0.1%
Net Income $175,280 $119,885 +0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
17
Employees
N/A
Volunteers
60

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
$35,000
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BONACIO JULIE BOARD MEMBER 1.00
Director
$0 $0 $0
CARMINUCCI JAMES PRESIDENT 1.00
Officer Director
$0 $0 $0
DALTON ROBIN BOARD MEMBER 1.00
Director
$0 $0 $0
DICRESCE GARY BOARD MEMBER 1.00
Director
$0 $0 $0
FUNICIELLO MICHELE BOARD MEMBER 1.00
Director
$0 $0 $0
HOLLOWOOD CINDY EXECUTIVE DIRECTOR 3.00
Officer
$35,000 $0 $35,000
HOVER CATHERINE BOARD MEMBER 1.00
Director
$0 $0 $0
HUBBS MICHELLE BOARD MEMBER 1.00
Director
$0 $0 $0
THE HONORABLE SCOTT JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
LAVIGNE JIM OFFICER AT LARGE 3.00
Officer Director
$0 $0 $0
MASTRIANI JEROME BOARD MEMBER 1.00
Director
$0 $0 $0
PATTON MICHAEL BOARD MEMBER 1.00
Director
$0 $0 $0
PREECE CONNOR BOARD MEMBER 1.00
Director
$0 $0 $0
REIDY WALTER TREASURER 1.00
Officer Director
$0 $0 $0
SNOW JOHN BOARD MEMBER 1.00
Director
$0 $0 $0
TITTERTON LEW BOARD MEMBER (EMERITUS) 1.00
Director
$0 $0 $0
VALENTINE TOM BOARD MEMBER 1.00
Director
$0 $0 $0
WHITE JANICE BOARD MEMBER 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
2024 No data No data No data No data
2023 $391,840 $216,560 $2,067,502 $175,280
2022 $319,737 $199,852 $1,892,222 $119,885
2021 $371,244 $135,036 $1,772,337 $236,208
2020 $248,306 $132,701 $1,536,129 $115,605
2019 $321,942 $103,700 $1,420,524 $218,242
2018 $227,642 $97,666 $1,202,282 $129,976
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