Return of Organization Exempt from Income
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l efile GRAPHIC p rint - DO NOT PROCESS As Filed Data - DLN: 93490351003577 Return of Organization Exempt From Income Tax OMB No 1545-0047 Form 990 Under section 501 (c), 527, or 4947( a)(1) of the Internal Revenue Code ( except black lung benefit trust or private foundation) 2 00 6_ Department of the Open to Public Treasury Iµ The organization may have to use a copy of this return to satisfy state reporting requirements Inspection Internal Revenue Service A For the 2006 calendar year, or tax year beginning 04-01-2006 and ending 03 -31-2007 C Name of organization D Employer identification number B Check if applicable Please HISPANIC SCHOLARSHIP FUND 1 Address change use IRS 52-1051044 label or Number and street (or P 0 box if mail is not delivered to street address ) Room/ suite E Telephone number (- Name change print or 55 SECOND STREET No 1500 type . See (415 ) 808-2300 F Initial return S p ecific Instruc - City or town, state or country, and ZIP + 4 FAccounting method fl Cash F Accrual (- Final return tions . SAN FRANCISCO, CA 94105 Other ( specify) F F-Amended return (- Application pending * Section 501(c)(3) organizations and 4947(a)(1) nonexempt charitable H and I are not applicable to section 527 organizations trusts must attach a completed Schedule A (Form 990 or 990-EZ). H(a) Is this a group return for affiliates? 1 Yes No H(b) If "Yes" enter number of affiliates lµ G Website : lr WWWHSFNET H(c) Are all affiliates included? (- Yes F_ No (If "No," attach a list See instructions ) I Organization type ( check only one) lµ F 5 501 ( c) (3) -4 (insert no ) 1 4947(a)(1) or F_ 527 H(d) Is this a separate return filed by an organization K Check here lµ (- if the organization is not a 509(a)(3) supporting organization and its gross receipts are covered by a group ruling? F Yes F No normally not more than 25,000 A return is not required, but if the organization chooses to file a return, be sure to file a complete return I Group Exemption Number Ir M Check lµ 1 if the organization is not required to L Gross receipts Add lines 6b , 8b, 9b, and 10b to line 12 Ir 62,618,932 attach Sch B (Form 990, 990-EZ, or990-PF) n i Revenue . Expenses . and Chances in Net Assets or Fund Balances (See the instructions.) 1 Contributions, gifts, grants, and similar amounts received a Contributions to donor advised funds la b Direct public support (not included on line 1a) . lb 33,606,197 c Indirect public support (not included on line 1a) . 1c d Government contributions (grants) (not included on line 1a) ld 33,606,197 e Total (add lines la through 1d) (cash $ 33,326,701 noncash $ 279,49 6 le 2 Program service revenue including government fees and contracts (from Part VII, line 93) 2 3 Membership dues and assessments 3 4 Interest on savings and temporary cash investments 4 1,714,743 5 Dividends and interest from securities 5 6a Gross rents 6a b Less rental expenses 6b c Net rental income or (loss) subtract line 6b from line 6a . 6c 7 Other investment income (describe 1 ) 7 8a Gross amount from sales of assets (A) Securities (B) Other a other than inventory . 27,060,391 8a b Less cost or other basis and sales expenses 26,207,385 8b c Gain or (loss) (attach schedule) . 95 853,006 Sc d Net gain or (loss) Combine line 8c, colum ns (A) and (B) . 8d 853,006 9 Special events and activities (attach schedule) If any amount is from gaming , check here IrF- a Gross revenue (not including $ of contributions reported on line 1b) 9a 237,601 b Less direct expenses other than fundraising expenses . 9b 449,956 c Net income or (loss) from special events Subtract line 9b from line 9a . c 212,355 10a Gross sales of inventory, less returns and allowances . 10a b Less cost of goods sold 10b c Gross profit or (loss) from sales of inventory (attach schedule) Subtract line 10b from line 10a 10c 11 Other revenue (from Part VII, line 103) 11 12 Total revenue Add lines le, 2, 3, 4, 5, 6c, 7, 8d, 9c, 10c, and 11 . 12 35,961,591 13 Program services (from line 44, column (B)) . 13 31,519,505 14 Management and general (from line 44, column (C)) . 14 2,055,320 u 15 Fundraising (from line 44, column (D)) . 15 3,790,631 4, 16 Payments to affiliates (attach schedule) 16 17 Total expensesAdd lines 16 and 44, column (A) . 17 37,365,456 18 Excess or (deficit) for the year Subtract line 17 from line 12 . 18 -1,403,865 19 Net assets or fund balances at beginning of year (from line 73, column (A)) 19 45,959,792 20 Other changes in net assets or fund balances (attach explanation) 20 164,995 21 Net assets or fund balances at end of year Combine lines 18, 19, and 20 . 21 44,720,922 For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions . Cat No 11282Y Form 990 (2006) Form 990 (2006) Page 2 RIEULEM Statement of All organizations must complete column (A) Columns (B), (C), and (D) are required for section Functional Expenses 501(c)(3) and (4) organizations and section 4947(a)(1) nonexempt charitable trusts but optional for others (See the instructions.) Do not include amounts reported on line (B) Program (C) Management (A) Total (D) Fundraising 6b, 8b, 9b, 1Ob, or 16 of Part I. services and general 22a Grants paid from donor advised funds (attach Schedule) (cash $ noncash $ If this amount includes foreign grants, check here I* F 22a 22b Other grants and allocations (attach schedule) (cash $ 26,896,420 noncash $ If this amount includes foreign grants, check here I 22b 26,896,420 26,896,420 23 Specific assistance to individuals (attach schedule) 23 24 Benefits paid to or for members (attach schedule) 24 25a Compensation of current officers, directors, key employees etc Listed in Part V-A (attach schedule) 25a 1,000,153 350,056 300,048 350,049 b Compensation of former officers, directors, key employees etc listed in Part V-B (attach schedule) . 25b c Compensation and other distributions not icluded above to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) (attach schedule) 25c 26 Salaries and wages of employees not included on lines 25a, b and c 26 3,552,179 1,644,934 631,105 1,276,140 27 Pension plan contributions not included on lines 25a, b and c 27 69,705 30,790 14,726 24,189 28 Employee benefits not included on lines 25a - 27 28 541,975 260,386 107,597 173,992 29 Payroll taxes 29 373,129 173,534 63,112 136,483 30 Professional fundraising fees 30 257,077 257,077 31 Accounting fees 31 42,191 42,191 32 Legal fees 32 6,631 4,577 658 1,396 33 Supplies 33 89,362 30,273 14,319 44,770 34 Telephone 34 126,168 39,067 23,760 63,341 35 Postage and shipping 35 202,006 159,743 17,164 25,099 36 Occupancy 36 792,580 341,438 93,988 357,154 37 Equipment rental and maintenance 37 42,074 13,208 8,961 19,905 38 Printing and publications 38 174,418 106,704 46,867 20,847 39 Travel 39 453,473 246,814 71,545 135,114 40 Conferences, conventions, and meetings 40 33,322 24,345 3,394 5,583 41 Interest 41 26,593 7,972 7,030 11,591 42 Depreciation, depletion, etc (attach schedule) 42 235,939 90,577 38,810 106,552 43 Other expenses not covered above (itemize) a See Additional Data Table 43a b 43b c 43c d 43d e 43e f 43f g 43g 44 Total functional expenses . Add lines 22a through 43g (Organizations completing columns (B)-(D), carry these totals to lines 13-15) 44 37,365,456 31,519,505 2,055,320 3,790,631 Joint Costs . Check I* fl if you are following SOP 98-2 Are any joint costs from a combined educational campaign and fundraising solicitation reported in (B) Program services' I* fl Yes fl No If "Yes," enter (i) the aggregate amount of these joint costs $ , (ii) the amount allocated to Program services $ (iii) the amount allocated to Management and general $ , and (iv) the amount allocated to Fundraising $ Form 990 (2006) Form 990 ( 2006) Page 3 f iii Statement of Program Service Accomplishments (See the instructions.) Form 990 is available for public inspection and, for some people, serves as the primary or sole source of information about a particular organization How the public perceives an organization in such cases may be determined by the information presented on its return Therefore, please make sure the return is complete and accurate and fully describes, in Part III, the organization's programs and accomplishments What is the organization's primary exempt purpose's THE HISPANIC SCHOLARSHIP FUND (HSF) IS THE LARGEST HISPANIC SCHOLARSHIP- GRANTING ORGANIZATION IN THE NATION HSF RECOGNIZES AND REWARDS OUTSTANDING HISPANIC STUDENTS IN HIGHER EDUCATION Program Service THROUGHOUT THE UNITED STATES, PUERTO Expenses RICO AND THE U S VIRGIN ISLANDS THESE (Required for 501(c)(3) and STUDENTS REPRESENT EVERY REGION OFTHE (4) orgs , and 4947(a)(1) COUNTRY, HUNDREDS OF INSTITUIONS OF trusts, but optional for others) HIGHER LEARNING AND EVERY SEGMENT OF THE HISPANIC COMMUNITY All organizations must describe their exempt purpose achievements in a clear and concise manner State the number of clients served, publications issued, etc Discuss achievements that are not measurable (Section 501(c)(3) and (4) organizations and 4947(a)(1) nonexempt charitable trusts must also enter the amount of grants and allocations to others ) a AWARD SCHOLARSHIPS - THE PRIMARY OBJECTIVE OF HSF IS TO AWARD SCHOLARSHIPS TO OUTSTANDING HISPANIC AMERICAN STUDENTS ALL COSTS RELATED TO THIS EFFORT ARE ALLOCATED TO SCHOLARSHIPS (Grants and allocations $ 26,896,420) If this amount includes foreign grants, check here J* F- I 28,207,527 b EDUCATION &INFORMATION - THIS PROGRAM SERVICE CONSISTS OF INFORMATION MATERIALS AND ACTIVITIES THE PURPOSE IS TO RESPOND AND TO PROVIDE INFORMATION TO THE PUBLIC REGARDING THE UNDER-REPRESENTATION OF HISPANICS IN HIGHER EDUCATION (Grants and allocations $ ) If this amount includes foreign grants, check here J* F- I 3,311,978 (Grants and allocations $ If this amount includes foreign grants, check here J* F- d (Grants and allocations $ If this amount includes foreign grants, check here J* F- e Other program services ( attach schedule) (Grants and allocations $ ) If this amount includes foreign grants, check here J* F- f Total of Program Service Expenses (should equal line 44, column (B), Program services) .