Educational Institutions

Central Scholarship Bureau, Inc.

  • Owings Mills, MD
  • http://www.central-scholarship.org

Mission Statement

Central Scholarship is devoted to helping individuals achieve a better life through higher education. We believe that education is a right, not a privilege and that scholarships are an investment, not an expense.

We fulfill our mission by funding the financial gap with grants and interest-free loans, offering financial literacy to educate students and parents about college affordability and honoring the achievements of our students through publications and events.

Main Programs

  1. Grants, Scholarships & Interest-free Loans
Service Areas

Self-reported

Maryland

Central Scholarship provides its services in the State of Maryland. Students must be residents of Maryland but can attend any accredited school in the United States.

ruling year

1952

President since 2001

Self-reported

Ms. Jan Moylan Wagner

Keywords

Self-reported

interest-free loans, grants, post-secondary education funding, college aid, financial aid, maryland, baltimore, vocational training, certificate training, higher ed, award displacement, advocacy

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Also Known As

Central Scholarship

EIN

52-6012589

Physical Address

6 Park Center Court Suite 211

Owings Mills, 21117 5604

Contact

Cause Area (NTEE Code)

Scholarships, Student Financial Aid, Awards (B82)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

The $1 million that we annually award in scholarships helps to level the playing field for low-income students who carry a disproportionate amount of student loan debt relative to their family income. College Cash, our free financial literacy series on college affordability, helps hundreds more low-income students and families understand important factors to weigh as they explore college choice. Besides academic, social and emotional fit, affordability considerations such as the cost of in-state vs. out-of state, and public vs. private are explored. We demystify the student awards letter, explain that students must evaluate how much they borrow vs. how much they can expect to earn after graduation, emphasize the importance of completing in four years, and more. Bad decisions can impact students and families for decades, compromising their ability to get married, buy a home, have children and/or enjoy a decent retirement. Our advocacy work at the state level supports legislation that improves outcomes for low-income students and families as related to post-secondary education and training. We feel that we are in a strong position to advocate for our students since our funding is all private, e.g., we do not receive state or federal funding to fulfill our mission.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

Grants, Scholarships & Interest-free Loans

Central Scholarship Bureau's experienced staff provides students with guidance, helping them realistically budget for their school years and referring them to other sources of financial assistance when possible. CSB's interest-free loans and grants are awarded regardless of religion or race to those students that meet the eligibility criteria. Upon graduation, students are expected to repay their interest-free loans over a ten-year period.

Category

Population(s) Served

General Public/Unspecified

Budget

Charting Impact

Self-reported by organization

Five powerful questions that require reflection about what really matters - results.

  1. What is the organization aiming to accomplish?
    Very simply, Central Scholarship strives to make post-secondary education and training more affordable for low-income Maryland students.
  2. What are the organization's key strategies for making this happen?
    We award $1 million each year in grants and interest-free loans to low-income students from throughout Maryland who are pursuing degree and non-degree post-secondary education and training. We reach them through an electronic database we created in-house, that connects us to colleges, high schools, nonprofits, and any individual or organization who has elected to receive our email blasts announcing scholarship opportunities. Students apply through an online application service.

    We offer College Cash®, our free financial education series, with three current offerings, “Finding Money for College", "A Parent's Guide to Finding and Funding College", and “Managing Student Loans." All programs were developed and are delivered by our staff experts.

    Our Student Loan Pay-Down Program provides $30,000 in student loan relief to one lucky student recipient, pre-qualified but chosen at random, at our annual student awards ceremony.

    Through our Advocacy Program, we work at the state and national level to support legislation that will improve the lives of low-income students as it relates to affordability of post-secondary education and training. We are uniquely positioned for this type of work because we do not receive any government funding; our funding is completely private.
  3. What are the organization's capabilities for doing this?
    Our President and Program Director have a combined 50+ years of experience in higher education and financial aid.

    Our Vice President is a lifelong political activist, who drives our advocacy program as well as the College Cash® Program.

    Our Development Director is an expert on poverty issues and resource development. She ran a pre-school for homeless children under the age of six and a reentry program for ex-offenders.

    Program team members are experts in financial aid, vocational training, and data analysis.

    Our Marketing and Annual Fund Manager drives public relations, social networking and web development activities.

    Our Board of Directors is deeply committed to the mission, and provides resources and expertise that allow us to fulfill our mission year in and year out, since 1924.
  4. How will they know if they are making progress?
    We look at a variety of measures to determine if we are making the grade -- number of student applications, completion of degree or training program, amount of money raised, feedback from the community, etc.

    The most objective measure to gauge the success of our student program is research conducted by the Jacob France Institute at the University of Baltimore. We follow our students in the unemployment system after completion of their certificate or degree.
    This analysis tells us whether they are working, if they are working in the field they pursued when they received funding from us, and if there is upward movement in their earnings over time. Now that most colleges are participating in the National Student Clearinghouse, we will also follow our college students to determine if they completed their degree.
  5. What have and haven't they accomplished so far?
    We've been very successful at building our electronic outreach program and feel reasonably comfortable about our visibility in the student world in Maryland for both degree and non-degree programs. We have been successful at raising money although we never have enough to come close to meeting the demand.

    Expanding the reach of College Cash® is extremely important. The only way for students and families to manage the student loan burden is to “Know Before They Go." The most basic information, such as understanding the cost of going to an in-state college versus out-of-state college, deciphering the college student awards letter, finishing college in four years instead of six, and more, is simply not being conveyed, in fact, it isn't even a consideration for many working directly with college-bound high school students.

    We are working hard to educate our constituents about the forces affecting college affordability. The frenzy around college for all makes no sense, given the under-performing K-12 system and a job market that requires higher level skills and abilities. Selective colleges compete for the best students; some manipulate private scholarships to advance their own mission. This year, Maryland became the first state in the nation to introduce legislation that would restrict scholarship award displacement. This legislation was introduced at our request. While it did not pass, we will continue to work on restricting this legal, but unethical practice.

    Non-selective colleges, strapped for cash, often admit students who do not have the capacity to complete a college program. Students either drop out or are pushed through so that colleges can maintain the tuition income. These students are saddled with loan debt they cannot pay off, and often have credentials that do not lead to employment.
Service Areas

Self-reported

Maryland

Central Scholarship provides its services in the State of Maryland. Students must be residents of Maryland but can attend any accredited school in the United States.

Social Media

Blog

Videos

photos


External Reviews

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

THE CENTRAL SCHOLARSHIP BUREAU INC
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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  • Forms 990 for 2015, 2014 and 2013
  • Board Chair and Board Members
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Operations

The people, governance practices, and partners that make the organization tick.

Central Scholarship Bureau, Inc.

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair and Board Members
  • Access to the GuideStar Community
Need the ability to download nonprofit data and more advanced search options? Consider a Premium or Pro Search subscription.

President

Ms. Jan Moylan Wagner

Governance

BOARD CHAIR

Ira Wagner

No Affiliation

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization


RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?

Yes

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

Yes

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?


ORGANIZATIONAL DEMOGRAPHICS

In order to support nonprofits and gain valuable insight for the sector, GuideStar worked with D5—a five-year initiative to advance diversity, equity, and inclusion in philanthropy—in creating a questionnaire. This section is a voluntary questionnaire that empowers organizations to share information on the demographics of who works in and leads organizations. To protect the identity of individuals, we do not display sexual orientation or disability information for organizations with fewer than 15 staff. Any values displayed in this section are percentages of the total number of individuals in each category (e.g. 20% of all Board members for X organization are female).

Gender
This organization reports that it does not collect this information for Volunteers.
Race & Ethnicity
This organization reports that it does not collect this information for Volunteers.
Sexual Orientation

We do not display sexual orientation information for organizations with fewer than 15 staff.

Disability

We do not display disability information for organizations with fewer than 15 staff.

Diversity Strategies
No
We track retention of staff, board, and volunteers across demographic categories
No
We track income levels of staff, senior staff, and board across demographic categories
No
We track the age of staff, senior staff, and board
No
We track the diversity of vendors (e.g., consultants, professional service firms)
No
We have a diversity committee in place
No
We have a diversity manager in place
No
We have a diversity plan
No
We use other methods to support diversity