Impact: $1,000 increases income for a scholarship recipient in need by $4,700. Read More
Scholarship Program meets the benchmark for high cost-effectiveness. The nonprofit increases income for a scholarship recipient by more than $1.50 for every $1 spent.
Note: The impact of this program may not be representative of the entire operation of College Of Central Florida Foundation Inc.
Governance: Passes checks
The College of Central Florida Foundation is an organization established to provide leadership service, voluntary action, charitable giving and community involvement. It also provides a variety of educational and cultural events to add to the quality of learning for our students and to the community. During 2017, CF Foundation donors have remained loyal to the college mission donating 4,551,508 in support, establishing fourteen new endowments, and providing existing program support. The promise for the future fund of 4.3 million supports program development, a foundation and college funding priority. Additional funding donated through the promise for the future campaign of 1.8 million is available for the newly completed Levy County campus facility and programs. Scholarships taking elementary promising students to CF (Steps to CF) remains a unique and inspiring program that awards fifth grade elementary students from donor-adopted schools scholarships to the college.
Donations processed by the nonprofit.
College Of Central Florida Foundation Inc grants scholarships to beneficiaries.
People living in poverty
Outcomes: Changes in people's lives. They can be caused by a nonprofit.
Costs: The money spent by nonprofits and their partners and beneficiaries.
Impact: The cost to achieve an outcome.
Cost-effectiveness: A judgment as to whether the cost was "worth" the outcome.
Increase in income for a scholarship recipient
To calculate impact, we estimate how many outcomes the nonprofit caused.
Output data collected during the program. College Of Central Florida Foundation Inc publicly reports data on the dollar value of all scholarships it grants and the number of scholarship recipients, which we use to calculate the additional income that the nonprofit's scholarship program generates.
Jan. 1, 2017, to Dec. 31, 2017
Ratings are based on data the nonprofit itself collects on its work. We use the most recent year with sufficient data. Typically, this data allows us to calculate direct changes in participants' lives, such as increased income.
We estimate the increase in income caused by a nonprofit's scholarship program in two steps. First, we compare the estimated postsecondary graduation rate of its scholars to that of comparable students who did not receive a scholarship (the “counterfactual”). Our estimates are drawn from rigorous social science studies of similar scholarship programs. The result is the number of scholars whose graduation was caused by the nonprofit. Second, we compare the earnings of graduates to non-graduates based on publicly available census data, matching on student demographic characteristics. We apply the earnings boost owing to a degree to those scholars whose graduation was caused by the nonprofit. Both steps are necessary to properly net out counterfactual successes from observed successes. Otherwise, we would be attributing changes (increase in graduation rate and increase in earnings) to the nonprofit when they would have happened anyway. Few nonprofits estimate the counterfactual themselves, so we construct our own counterfactual estimate based on research and publicly available data.
We don't know if the observed changes were caused by the nonprofit's program or something else happening at the same time (e.g. a participant got a raise). To determine causation, we take the outcomes we observe and subtract an estimate of the outcomes that would have happened even without the program (i.e. counterfactual outcomes).
Cost data reported by College Of Central Florida Foundation Inc and data and assumptions about partner and beneficiary costs.
$968,164 program costs + $220,498 partner costs + $220,498 beneficiary costs = $1,409,160 total costs
After estimating the program's outcomes, we need to determine how much it cost to achieve those outcomes. All monetary costs are counted, whether they are borne by a nonprofit service deliverer or by the nonprofit’s public and private partners. In-kind donations, of labor or supplies, are not counted.
$1,409,160 total costs / $6,889,449 additional income = roughly $1000 increases income for a scholarship recipient in need by $5000.
Numbers may not divide precisely due to rounding and time discounting.
We calculate impact, defined as the change in outcomes attributable to a program divided by the cost to achieve those outcomes.
Impact ratings of postsecondary scholarship programs are based on income generated relative to cost. Programs receive 5 stars if they increase income for a recipient by more than $1.50 for every $1 spent and 4 stars if income increases by more than $0.85 for every $1 spent. If a nonprofit reports impact but doesn't meet the benchmark for cost-effectiveness, it earns 3 stars.
The nonprofit increases income for a scholarship recipient by more than $1.50 for every $1 spent.
We assign a rating to the nonprofit using the rubric:
There are indications of governance or financial health issues at the nonprofit.
After being given an opportunity, the nonprofit chose not to publish impact information.
We are not yet issuing this level of star rating.
The rated program does not meet our benchmark for cost-effectiveness.
The rated program is cost-effective.
The rated program is highly cost-effective.
Not provided. This may be because we lacked contact information for College Of Central Florida Foundation Inc or it chose not to comment. If you are a representative of this nonprofit, contact us to review and comment on your rating.
Before publishing, we ask every nonprofit we can to review our work, offer corrections and provide a comment.
Analysis conducted by ImpactMatters and published on November 22, 2019.
An ImpactMatters analyst searched the Form 990s, annual reports, audited financials and the website of College Of Central Florida Foundation Inc to calculate impact and rate cost-effectiveness. A second analyst conducted quality control.
College Of Central Florida Foundation Inc passes our governance check.
Conducted a financial audit
Overhead spending is reasonable (<35% of total spending)
Charity Navigator has not issued a fraud or mismanagement advisory
College Of Central Florida Foundation Inc itself has not reported any material diversions of assets
College Of Central Florida Foundation Inc itself has not reported any excess benefit transactions
Source: College Of Central Florida Foundation Inc Form 990 and Charity Navigator
This rating is based on ImpactMatters analysis of the impact of Scholarship Program relative to costs. Impact is the change in the social outcomes of people served by the program, net of the change that would have happened even without the program (the “counterfactual”); divided by cost. Learn more.
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$1,000 increases income for a scholarship recipient in need by $4,700.