From The President & CEO

To say that the 2013-2014 fiscal year was transformative, is an understatement. We literally transformed nearly everything we do as an organization, from operations to programs. The underlying triggers are profound: 1) the exponential growth in numbers of college-bound Hispanic Students, across the United States, and 2) the advance of technology.

In September 2013, the Pew Research Center released its latest statistics on Hispanic College Enrollment and related trends, based on the latest U.S. Census. The numbers confirmed that there is a massive surge taking place that increases the demand for HSF Scholarships and services.

We learned that today, 1 in 4 public school students in the U.S. are Hispanic, and 69% of Hispanic high school graduates are now going directly to college, surpassing 67% of the general population. Hispanics, ages 18-24, now comprise 19% of all college students in the U.S.

It’s wonderful news, but there’s no time to rest. These same numbers also tell us that we have to step up our efforts to keep pace. The soaring cost of higher education is putting a four-year college out of reach for far more students than we have scholarships to support. We simply must do more – a lot more.

Which brings us full circle to technology. How it factors into the lives of students and their families, the nature of philanthropy, and the nuts-and-bolts machinery of awarding and administering scholarships, is nothing short of a sea change. When we started the fiscal year, we had already rebuilt our website, from top to bottom, and were well underway in building a new, web-enabled IT platform that could support everything from online scholarship applications, to on-line courses, and a mentor matching system as sophisticated as the formulas used by top commercial dating services. This buildout is now in its second, major phase, and will enable further innovations that take us to a whole new level.

Without this new technology we could never hope to keep up with the surge in demand we are facing. With it, we can realistically expect to award more scholarships than ever. But just as importantly, we can now reach millions in our community who may not qualify for an HSF Scholarship, but who will nevertheless be more successful in their college experiences, due to the information and services we provide through our web portal.

Our goal is to become the one-stop-shop for college-bound Hispanic students and their families. With the help of our Groundbreaking Partners, Wells Fargo and Target, our many other partners and donors around the country, and our more than 60,000 Alumni who serve as volunteers and ambassadors, we are well on our way. Through these improvements, we have the opportunity to build a better future for this country. We are grateful for your support!

Fidel A. Vargas
Fidel A. Vargas

President & CEO

We are proud of our work and inspired by the lives we touch

Awards and Institute

We began the 2013-14 fiscal year with HSF’s “Leader’s in Educations Awards” luncheon in Los Angeles, which was hosted by NBC4’s Kim Baldonado. Over 400 people attended; Wells Fargo and Toyota were the Presenting Sponsors.

Soon after, the Hispanic College Fund was absorbed into the Hispanic Scholarship Fund Institute. The change became official in May, with the opening of our D.C. office. Going forward, the Institute would be the entity that administers HSF’s partnerships with NASA and the National Nuclear Security Administration, which, respectively, implement NASA’s Motivating Undergraduates in Science and Technology (MUST) program, and the NNSA Leadership Project.

New Counsel, Social Media

In May, the distinguished, global law firm Orrick, Herrington & Sutcliffe LLP began serving as HSF’s pro bono Counsel.

HSF added a Social Media Manager to the Team that month. Social Media was a new initiative for HSF, in recognition of its importance in the lives of our constituents and its growing use as a marketing tool, across both private and public sectors. Our efforts began with postings of videos of our Scholars and their stories, and other digital content, and initiating two-way online engagement.

First Youth Leadership Institute

In June and throughout the summer, we held our first Hispanic Youth Leadership Institute conferences, starting in Los Angeles, and then in Dallas, Albuquerque, Greater Washington, D.C., and Silicon Valley. Seeing students energized and leaving the YLI energized and determined to attend and succeed in college validated the strength of our curriculum.

The summer wrapped with a board of directors/management offsite.

New Website Launch and Partner Initiatives

September was a watershed month. We launched the new website, a highly interactive design that adapted, seamlessly, for the first time, with mobile devices – a critical component of our HSF 2.0 strategy. With the opening of the Scholarship Application process for the 2014-2015 cycle, HSF also kicked off Hispanic Heritage Month, with various features and tie-ins, across our programs.

HSF also launched several marketing campaigns, or “activations” involving our corporate partners. For example, Anheuser-Busch, a long-standing partner, invited us on a 5-city tour with the Mexican National SoccerTeam.HSF was presented with a check to go towards scholarships, and several Ambassadors and HSF Alumni were there to accept on our behalf.

We also participated in Google’s “Coding for Good” campaign, “Cacique” Food truck tour with Chef Aaron Sanchez, an LA Galaxy Soccer Team event, as well as The Coca-Cola Company’s Club Balon Rojo, a free soccer clinic helping kids gain confidence and learn about healthy living. We also announced a Coca-Cola Company Scholarship Contest in September.

In October, we inducted incoming members to our Alumni Hall of Fame, at our annual Gala at the New York Hilton. At the event, we celebrated the accomplishments of past Scholars, honored our founder, Ernesto Robles, and The Coca-Cola Company, our Corporate Partner of the Year. We also took the opportunity to thank Groundbreaking Partners, Wells Fargo and Target, who were designated as such for their special support of the HSF 2.0 buildout.

Jasmine Rezai, Senior Vice President of Strategic Initiatives

In November, Jasmine Rezai joined the team as Senior Vice President of Strategic Initiatives. Her background in media and sales was a key to heading up a new department for HSF. Shortly thereafter, she announced, in a prime-time interview with CNN Latino, that students with DACA status are now eligible to apply for HSF scholarships.

College Camp Launch, Year-End Activities

Continuing our outreach efforts, we renamed, rebranded and re-launched HSF’s College Camp series, with a debut event in Los Angeles, where we featured Wells Fargo as our $8.1mm Groundbreaking Partner!

HSF held its annual meeting in Dallas, Texas where the board nominated four new members. They were Edgar A. Sandoval from P&G, Angel Morales from North Cove Partners, Juan Galarraga from Target, and Adam Rodriguez, actor and director.

The HSF staff made calls to over 7,000 students to remind them not to leave money on the table and get their applications completed by the December] deadline.

The year ended with the Year-End appeal to donors, and a series of holiday office events.

Networking Event Leads to LUNA

In February 2014, HSF organized a Unity and Partnership Networking Reception at the Grammy Museum in Los Angeles, CA. The event was well-attended by alumni, and partner organizations including ALPFA, NSHMBA, and CCHLI. Building from this success, planning immediately commenced for holding a series of these high-level networking events each year, around the country. The result was the LUNA (Latinos Uniting & Networking for Advancement) series of receptions, the first planned for April28, in Washington, D.C.

HSF Nearly Triples Facility Space

In March, HSF signed a lease to move from the 3rd floor of Toyota Plaza, to the entire 7th floor. HSF increased its office footprint from 7,000 square feet to over 20,000 square feet, in order to accommodate the centralization of the staff in the Southern CA office and rapid growth in support of our strategic plans.

HSF Continues to be one of the most fiscally-responsible organizations in the nation

Consolidated Statements of Financial Position


2014 2013
Cash and cash equivalents $3,674,159 $1,967,201
Restricted cash 300,000
Investments 23,186,894 24,618,689
Contributions receivable, net 9,514,542 9,057,538
Contracts receivable 106,661
Property and equipment, net 48,604 57,195
Prepaid expenses and other assets 583,104 642,369
Total Assets 37,113,964 36,642,992

Liabilities and Net Assets


2014 2013
Scholarships payable 154,574 286,445
Accounts payable and accrued expenses 831,747 801,969
Deferred rent 114,922 70,506
Total Liabilities 1,101,243 1,158,920

Net Assets

2014 2013
Unrestricted 45,175 (2,534,688)
Temporarily restricted 22,541,104 24,871,230
Permanently restricted 13,426,442 13,147,530
Total Net Assets 36,012,721 35,484,072

Total Liabilities and Net Assets

$37,113,964 $36,642,992

Consolidated Statements of Activities

Support and Revenues

Unrestricted Temporarily Restricted Permanently Restricted 2014 Total 2013 Total
Grants and Contributions $2,830,539 $39,023,606 $278,912 $42,133,057 $39,278,272
Government grants 1,327,890 1,327,890 -
Contribution received from HCF 15,279 328,038 343,317 -
Special Events (net of direct expenses of $524,554 for 2013) 1,015,107 1,015,107 874,015
Investment income, net 14,485 1,162,530 1,177,015 1,104,121
In-kind contributions 344,483 344,483 26,980
Other Revenue 6,148 6,148 21,280
Net assets released from restrictions 42,844,300 (42,844,300) - -
Total Support and Revenues 48,398,231 (2,330,126) 278,912 46,347,017 41,304,668

Expenses and Losses

Unrestricted Temporarily Restricted Permanently Restricted 2014 Total 2013 Total
Program Services
Scholarships 39,481,871 39,481,871 38,531,756
Education and information 3,156,853 3,156,853 3,597,808
Total program services 42,638,724 - - 42,638,724 42,129,564
Support services
Administration 2,646,488 2,646,488 3,319,361
Fund raising 533,156 533,156 698,608
Total support services 3,179,644 - - 3,179,644 4,017,969
Total expenses 45,818,368 - - 45,818,368 46,147,533

Change in Net Assets

Unrestricted Temporarily Restricted Permanently Restricted 2014 Total 2013 Total
Change in Net Assets 2,579,863 (2,330,126) 278,912 528,649 (4,842,865)
Net Assets, beginning of year (2,534,688) 24,871,230 13,147,530 35,484,072 40,326,937
Net Assets, end of year $45,175 $22,541,104 $13,426,442 $36,012,721 $35,484,072
Meet our supporters

$1,000,000+ Donors

  • Bill & Melinda Gates Foundation

  • Wells Fargo & Company

  • Georgia Opportunities


  • Target Corporation
  • Marathon Oil Corporation
  • Anheuser-Busch Cos. Inc. and Distributors
  • Walmart Foundation


  • Toyota Motor Sales USA
  • Univision Television Group Inc
  • Peierls Foundation
  • Time Warner Inc.
  • College Futures Foundation
  • The Gilbert & Jacki Cisneros Foundation
  • Walton Family Foundation, Inc.
  • Orrick, Herrington & Sutcliffe LLP
  • McNamara Family Foundation
  • The Procter & Gamble Company
  • Google Inc.
  • Altria Group, Inc.
  • The Coca-Cola Foundation


  • FedEx Corporation
  • The Coca-Cola Company - Global HQ
  • The UPS Foundation
  • The Clorox Company
  • AT&T Foundation
  • Exxon Mobil Foundation
  • Monsanto Fund
  • GE Foundation
  • Goya Foods Inc
  • The J Willard & Alice S Marriott Foundation
  • Ford Motor Company
  • American Honda Motor Company
  • Intel Corporation
  • Molina Healthcare
  • Royal Prestige


  • Morgan Stanley Foundation
  • Marathon Petroleum
  • USA Funds
  • The California Wellness Foundation
  • General Motors Company
  • Nielsen
  • Colgate-Palmolive Company
  • The New Mexico Alliance for Hispanic Education
  • Freddie Mac Foundation
  • Mazda Foundation USA Inc.
  • Carrera-Joffe Foundation
  • Darden Restaurants
  • Discover Financial Services
  • Shell Oil Company Foundation
  • Southwest Airlines Co.
  • Travelers Foundation


  • CVS Caremark Corporation
  • GE Hispanic Forum-Summit
  • Hewlett-Packard Company
  • CIGNA Foundation
  • Georgia-Pacific Foundation Inc.
  • Greater Houston Retailers Association
  • MetLife Foundation
  • Ernst & Young Foundation
  • Lockheed Martin Corporation
  • GE Aviation
  • Macys Corporate Services Inc
  • Mattel, Inc.
  • NASCAR Foundation
  • Payless ShoeSource
  • Silicon Valley Community Foundation
  • Southern California Edison
  • Verizon Foundation


  • Sandisk Corporation
  • AXA Foundation
  • Kaiser Permanente
  • Marriott International Inc
  • Northrop Grumman Corporation
  • Wm. Wrigley Jr. Company Foundation
  • American Express Company
  • Bank of America Corporation
  • Corinthian Capital
  • Dean & Margaret Lesher Foundation
  • PennantPark
  • The Travelers Companies
  • Tony's Finer Foods
  • Toyota Motor Engineering & Manufacturing North America, Inc
  • Publix Super Markets Charities
  • Hilton Worldwide
  • Robert Half International Inc.
  • Adelante Capital Management
  • Atlanta Retailers
  • Automatic Data Processing, Inc.
  • BMW Manufacturing Corporation LLC
  • Cacique
  • Galan Entertainment Inc
  • Anonymous
  • Meta Lilienthal Scholarship Fund
  • MundoFox
  • The Richard Eaton Foundation, Inc.
  • The TJX Companies, Inc.
  • Thomson Reuters
  • Union Bank N.A.
  • Weingart Foundation


  • Trim and Tassels
  • Chubb Group of Insurance Companies
  • The Siragusa Foundation
  • Raytheon Company
  • Coca-Cola Western Region
  • Grifols Biologicals Inc.
  • Lumina Foundation
  • NBC 4 Southern California
  • ORACLE Corporation
  • The Bank of New York Mellon


  • Armstrong Atlantic State University
  • The Walt Disney Company
  • Hispanics Avanzando Hispanics
  • Rose Hills Company
  • The Kroger Co.
  • Choice Hotels International
  • Fundacion Televisa
  • Susquehanna International Group, LLC
  • City National Bank
  • GKN Foundation
  • Vasquez & Company LLP
Moving the vision forward for a better future

Board of Directors

Gene Camarena

La Raza Pizza, Inc.

Kimberly Casiano

Kimberly Casiano & Associates

Margarita Flores


Nely Galán

Galán Entertainment

Juan Galarraga

Target Corporation

Lisa M. García-Quiroz

Time Warner

Tim Hanlon

Wells Fargo

Cheech Marin

Actor, Director, Writer, Humanitarian

James McNamara

Panamax Films LLC.

Angel L. Morales

Star Mountain Capital, LLC

Elizabeth Oliver-Farrow

The Oliver Group, Inc.

Adam Rodriguez

Actor, Writer, Director

Frank Ros

The Coca-Cola Company

Thomas A. Roupe

Aqueduct Capital Group

Anthony Salcido

Toyota Motor Sales, USA. Inc.

María Elena Salinas

Noticiero Univision

Edgar Sandoval

The Procter and Gamble Company

Violeta Vera Seidell

Marriott International, Inc.

Fidel A. Vargas

Hispanic Scholarship Fund

Hispanic Scholarship Fund