Scholarship Foundation of Santa Barbara received among the highest ratings of any U.S. nonprofit agency from Charity Navigator, the nation’s largest independent evaluator. Charity Navigator’s general approach is a review of finances and the percentage of income devoted to various categories of expenses – fundraising, general administration, and program activities. The Scholarship Foundation has received the top four-star rating for seven consecutive years. Less than 1% of rated charities have received this distinction.
Each year, an Audit Committee retains and meets with an independent accounting firm that conducts the annual audit. The Audit Committee also meets with the auditor, independent of any staff, to discuss findings. The Board’s Executive Committee and Finance Committee meet to review financial performance and conduct general oversight.
Audit Reports: Our financial statements with related footnotes, prepared in accordance with generally accepted accounting principles.
Federal Form 990: The Form 990 is filed with the Internal Revenue Service. It has financial data from our audit as well as information on our management structure, sources of support, program activities, and compliance with regulations.