College Success Foundation

Nonprofit profile at a glance

EIN
912036088
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bellevue, WA, USA
Phone
4254162000
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$27,728,746
Expenses
$27,455,231
Assets
$33,287,633
Liabilities
$14,451,598

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

38 people listed

Executive titles in this filing

  • James Dorsey (CEO(term 6/25))
  • Michael Cheever (CEO(hired 6/25))

Highest reported compensation

  • James Dorsey (CEO(term 6/25)): $265,852 total reported compensation
  • Michael Cheever (CEO(hired 6/25)): $245,807 total reported compensation
  • Rosemary Turner (VP of Operation): $200,348 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We provide a unique integrated system of supports and scholarships to inspire underserved, low-income students to finish high school, graduate from college and succeed in life.

What it reported doing in 2024

Scholarships and College Programs: CSF seeks to reduce financial barriers low-income students face by awarding scholarships and providing student support throughout college. Through June 30, 2025, CSF has awarded 20,647 scholarships to 20,029 students, totaling more than $257 million. To date, 14,299 graduates have received a degree. CSF designs and markets scholarship application materials, develops selection processes, and creates scoring rubrics that consider variables required by the funder and includes traditional and non-traditional selection criteria. CSF tracks its scholarship awards and scholars through a student data management system, while responding to individual scholars financial situations and needs.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 81
  • Accountability: 98
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 80.2%; rating input score 80
  • Fundraising efficiency: $7.52 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.7%; rating input score 99; 30th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.4%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 1.21; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -2.3% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -8.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 80.2% of spending went to programs
  • Governance: 27 of 28 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $22M in reported program spending
  • Leadership: top reported pay $266K · 38 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $158K reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.