irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $332KNATIONAL SCHOLARSHIP FUND: HELPS INDIVIDUALS FACING SOCIO-ECONOMIC HARDSHIPS FURTHER THEIR EDUCATION AT INSTITUTIONS OF HIGHER LEARNING BY PROVIDING THEM WITH EDUCATIONAL SCHOLARSHIPS AND RELATED EDUCATIONAL SUPPORT SERVICES TO ENSURE THEIR PATH TOWARD SUCCESS. SCHOLARSHIPS ALLOCATED TO QUALIFIED APPLICANT STUDENTS IN NEED ARE SELECTED BY AN ADMISSIONS COMMITTEE COMPRISED OF THE FOUNDATION'S MANAGEMENT TEAM, STAFF, AND VOLUNTEERS. THE FUND PROVIDED 308 STUDENTS WITH SCHOLARSHIP AWARDS.
- #2 $110KANNUAL HBCU BUS TOUR: EXPOSES HIGH SCHOOL YOUTH TO DIFFERENT COLLEGES IN ORDER TO PROMOTE INCREASED COLLEGE ATTENDANCE. 38 STUDENTS PARTICIPATED IN THE 2024 HBCU BUS TOUR.
named programs · 8 · from sources
What they call their work
Annual Holiday Toy Giveaway
Distributes toys and meals to youth and families in underserved Brooklyn communities each December.
Bitcoin Academy
Free 12-week financial education program for residents of Marcy Houses in Brooklyn, covering bitcoin and general financial literacy.
Bridges to Wealth
Financial empowerment workshops for students, parents, and community members in Brooklyn, developed in partnership with the University of Pennsylvania.
Champions for Financial Legacy (CFFL)
Financial education program in collaboration with Wharton School at the University of Pennsylvania to teach wealth-building skills to HBCU students and communities.
HBCU Bus Tour
Annual tour exposing high school students to 11 Historically Black Colleges and Universities across the U.S., aiming to increase college attendance and access.
Josh Dubin Fellowship
Seven-week paid fellowship for students exploring the legal field, offering mentorship, legal research experience, and off-site visits to courts and correctional facilities.
Marcy Youth Basketball Program
Supports youth basketball tournaments in Brooklyn’s Marcy Houses, providing school supplies, uniforms, and recognition for academic and athletic achievement.
National Scholarship Fund
Provides multi-year scholarships of up to $15,000 per student for tuition and living expenses to students with financial need pursuing their first undergraduate degree.
activities · 10 groups
What they do
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Local High School Scholarship Programs 1 activity
- Awarding multi-year college scholarships to students with mitigating circumstancesAwards multi-year scholarships of up to $15,000 per student to cover tuition and living expenses for students with talent and drive whose grade point averages fall below minimum requirements for other foundations due to mitigating circumstances. Supports an average of 145 students annually, with scholarships paid directly to accredited institutions across the United States.
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Holiday and Seasonal Essentials Distribution 1 activity
- Conducting annual holiday outreach in Brooklyn communitiesDistributes toys or meals to youth and families in underserved Brooklyn communities each December, with ongoing service to residents in Marcy, Tompkins, and Summer Houses and surrounding areas since the Foundation's inception.
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Financial Literacy Education Programs 1 activity
- Delivering financial education and wealth-building programsProvides financial empowerment, wealth building, and investment education through workshops and a 12-week free educational program in bitcoin and general financial literacy for residents of Marcy Houses in Brooklyn, NY. Programs are delivered in collaboration with Bridges To Wealth and the Wharton School at the University of Pennsylvania, serving SCF scholars, parents, and local communities since 2017.
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Financial Aid and Scholarship Access Programs 1 activity
- Funding study-abroad opportunities for underserved studentsProvides full study-abroad scholarships through a partnership with the Institute of International Education/Gilman International Scholarship Program to expand global experiences and leadership opportunities for underserved students.
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College Access and Success Support 1 activity
- Operating annual HBCU Bus Tour for high school studentsOrganizes an annual bus tour to historically black colleges and universities (HBCUs) to expose high school students to college opportunities, with over 500 students engaged since 2007. Over 95% of participants receive admission offers to at least one HBCU visited, with recent annual participation averaging around 40 students.
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Cultural Exchange and Mutual Understanding Programs 1 activity
- Operating the NY-LON Exchange Program for creative industry trainingRuns a cultural exchange program with the University of the Arts London/London College of Communication, launched in 2015, to provide underserved students with cross-cultural, academic, and professional development experiences in creative industries.
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Distribution of PPE and Crisis Supplies 1 activity
- Providing emergency relief during the COVID-19 pandemicProvided emergency relief support including food distribution, donated backpacks and school supplies, and event tickets during the COVID-19 pandemic in partnership with other organizations.
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Legal Education and Career Pipeline Programs 1 activity
- Running the Josh Dubin Fellowship for aspiring legal professionalsOperates a seven-week paid professional and educational development fellowship for five students annually interested in the legal field, engaging participants in working on wrongful conviction cases. The program has been run annually since 2022 with multiple cohorts completing the training.
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Youth Basketball Development Programs 1 activity
- Supporting youth basketball and educational programs in BrooklynHas supported youth basketball tournaments in Marcy Houses, Brooklyn, NY for the past seven years, engaging hundreds of youth annually, and provides essential school supplies to student athletes participating in the tournament.
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Uncategorized 1 activity
- Raising awareness through public festival engagementParticipates in the Made In America Festival annually since 2012 to engage over 60,000 attendees and raise awareness about the Foundation's educational opportunities.
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financials · form 990 · fy2024
revenue
Total revenue$5.15M
Contributions & grants$4.45M86%
Program service revenue$00%
Investment income$648K13%
Other revenue$50K
expenses
Total expenses$1.50M
Program expenses86%
Admin / overhead11%
Fundraising3%
Salaries & benefits$207K
Grants paid out$572K
Largest expense lineCompensation
balance sheet
Total assets$16.53M
Cash$15.89M
Investments$0
Liabilities$97K
Net assets$16.43M
Liquid reserves127.1 mo
3 years on record · 2020–2024 · YoY revenue -53.3%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 2
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| DANIA DIAZ | EXECUTIVE DIRECTOR | 40 | $93K |
| CAROLYN ARCHER | SECRETARY | 3 | $20K |
board members · 4
- ALEX SPIRO — DIRECTOR
- BRIAN SCHLUSSELBERG — DIRECTOR
- GLORIA CARTER — PRESIDENT
- JAY BROWN — DIRECTOR
relationships · 30
Who they work with
- Alabama A&M University Partner — Sends scholars to attend this institution.
- Bridges To Wealth Partner — Collaborates with the Shawn Carter Foundation since 2017 to provide financial empowerment and investment education workshops in Brooklyn.
- CSU Northridge Partner — Sends scholars to attend this institution.
- California Baptist University Partner — Sends scholars to attend this institution.
- Children of Promise NYC Partner — Collaborates with SCF on the Holiday Toy Giveaway, including receiving gift distributions for youth.
- Clara Lionel Foundation Partner — Partnered with SCF to provide COVID-19 emergency relief support.
- Dubin Research and Consulting Partner — Hosts the Josh Dubin Fellowship in partnership with the Shawn Carter Foundation
- Elizabethtown College Partner — Sends scholars to attend this institution.
- Embry-Riddle Aeronautical University Partner — Sends scholars to attend this institution.
- Facebook Network — Social media presence on Facebook platform
- HBCU Partner — Partners with 11 Historically Black Colleges and Universities for the annual HBCU Bus Tour to expose students to higher education opportunities.
- HBCU Partner Schools Partner — Partner institutions visited during the HBCU Bus Tour.
- Hon. Dr. Gloria Carter Partner — Co-founded the Shawn Carter Foundation with Shawn “JAY-Z” Carter.
- Institute of International Education Partner — Collaborated from 2013 to 2016 to provide full study-abroad scholarships for underserved students.
- London College of Communication Partner — Co-designed and launched the NY-LON Exchange Program in 2015 to provide cultural and professional development experiences for underserved students.
- Netter Center for Community Partnerships, University of Pennsylvania Partner — Hosts Bridges To Wealth and collaborates with the Shawn Carter Foundation on financial education workshops.
- North Carolina Central University Partner — Sends scholars to attend this institution.
- Pennsylvania State University Partner — Sends scholars to attend this institution.
- Quinnipiac University Partner — Sends scholars to attend this institution.
- Reva May Nash Foundation Partner — Partnered with SCF to provide COVID-19 emergency relief support.
- Russell Sage College Partner — Sends scholars to attend this institution.
- Savannah State University Partner — Sends scholars to attend this institution.
- Shawn “JAY-Z” Carter Partner — Co-founded the Shawn Carter Foundation with Hon. Dr. Gloria Carter.
- StartSmall Partner — Partnered with SCF to provide COVID-19 emergency relief support.
- The Perlmutter Center for Legal Justice at Cardozo Law School Partner — Hosts the Josh Dubin Fellowship in partnership with the Shawn Carter Foundation
- University of Missouri-Columbia Partner — Sends scholars to attend this institution.
- University of the Arts London Partner — Co-designed and launched the NY-LON Exchange Program in 2015 to provide cultural and professional development experiences for underserved students.
- Wharton School of Business Partner — Collaborates on financial empowerment programs including Bridges to Wealth and an expansion of financial education initiatives.
- Wharton at the University of Pennsylvania Partner — Collaborates with the Shawn Carter Foundation to deliver the Champions for Financial Legacy financial education program.
- Xavier University of Louisiana Partner — Sends scholars to attend this institution.
strategies · 5
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Financial Barrier Removal to Enable College Access and Completionmethodology: financial_barrier_removalBy removing financial obstacles to higher education, we increase college attendance and completion rates among underserved youth, because economic constraints are a primary barrier to educational attainment for talented students from low-income backgrounds.
- Financial Empowerment Through Education and Partnershipsmethodology: financial_empowerment_through_educationBy delivering financial literacy and wealth-building education through high-impact partnerships (e.g., Wharton, Bitcoin training), we foster long-term economic resilience in underserved communities, because financial knowledge equips individuals and families to close the wealth gap and achieve generational mobility.
- Immersive Professional Development for Transferable Skill Buildingmethodology: immersive_professional_developmentBy providing real-world professional experiences—such as legal casework, mentorship, and cultural exchange—we build critical thinking and employability skills, because immersive learning in creative and professional contexts produces deeper engagement and better workforce readiness than classroom-only models.
- Needs-Based Targeting to Maximize Equity in Opportunity Accessmethodology: needs_based_targetingBy focusing scholarship and program delivery on communities with the greatest systemic need—such as public housing residents—we address the opportunity gap more effectively, because concentrated disadvantage requires targeted investment to produce equitable outcomes.
- Service-Based Scholarship to Cultivate Community Leadershipmethodology: service_based_scholarshipBy requiring community service and peer mentoring as a condition of scholarship receipt, we strengthen scholar accountability and foster a culture of mutual support, because service engagement reinforces personal responsibility and multiplies community impact beyond individual success.