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Non-profit

Hispanic Scholarship Fund

Website:

www.hsf.net/
Location:

Gardena, CA
Tax ID:

52-1051044
Tax-Exempt Status:

501(c)(3)

Budget (2024):

Revenue: $45,537,768
Expenses: $59,393,948
Assets: $135,870,257
Type:

Advocacy group
Formation:

1975
President:

Fidel A. Vargas

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The Hispanic Scholarship Fund provides students of Latino background with financial aid to attend college. The organization also provides workshops and networking opportunities for scholarship recipients. 1

Scholarships are extended to United States citizens, legal residents, individuals who have temporary status under the Deferred Action for Childhood Arrivals (DACA) immigration policy, and other non-citizens. 1

In December 2025, the American Alliance for Equal Rights sued the Hispanic Scholarship Fund on behalf of its non-Hispanic members for discrimination. The group alleged that the HSF violated a Reconstruction era law that banned racial discrimination in contracts. 2

Finances

According to the Hispanic Scholarship Fund’s 2025 tax return, the group had $54,519,036 in revenues, $70,065,709 in expenses, and $96,710,238 in net assets. The group paid CEO Fidel Vargas $720,929 in reported compensation. The group paid $32,453,331 in scholarships that year. 3

Notable Funders

In December 2021, Toyota featured the Hispanic Scholarship Fund in its annual holiday commercial and social media campaign. HSF wrote, “One of two holiday commercials from Toyota, ‘Nora’s Joy,’ brings a timely message of happiness and giving-back to audiences. It is the story of a young woman who finds the ability to magically capture her emotions in jars, where she keeps them locked away in shyness. Inspired by the holiday happiness around her, she releases her feelings of joy and good-will with all who have touched her life in one way or another throughout the community, lighting up the night sky.” Toyota featured a digital “joy jar” post on its ToyotaLatino Instagram page and Toyota donated up to $50,000 for every share of a joy jar. Toyota had been supporting the HSF for 20 years at that point. 4

In September 2022, Honda gave an additional $1 million to HSF as part of a partnership that began in 2003. In addition, Honda sponsored the HSF National Leadership Conference, which provides Latino college sophomores with professional leadership development and career opportunities. 5

In September 2022, Raising Cane’s founder and co-CEO Todd Graves began to support the Hispanic Scholarship Fund with an initial donation of $100,000. Graves and his company said the contribution would be the beginning of a long-term relationship with HSF. 6

Lowe’s has been a supporter of HSF since 2009 and renewed its relationship with HSF in August 2024. Lowe’s donations “will sustain support for HSF’s Finance Conference, STEM Summit, and Scholarship,” according to HSF in a release. 7

In 2025, MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, gave the HSF $70 million. During 2025, Scott’s charitable giving prioritized colleges and universities. 8

In April 2025, the HSF announced that the Coca-Cola Company was the sponsor of its 50th Anniversary Celebration and Leaders in Education Awards in Los Angeles. Coca-Cola paid HSF $1 million to sponsor its awards celebration. Coca-Cola has been a supporter of HSF since 1998. 9

In July 2025, ABM Industries renewed its relationship with the HSF by giving the group a $50,000 annual contribution as a part of “ABM’s ongoing dedication to advancing education and workforce development, aligning with HSF’s mission to equip students and families with the resources needed to successfully complete a higher education journey.” 10

Qualification for Program

The Hispanic Scholarship Fund not only provides scholarships for United States citizens, but also legal permanent residents, individuals given temporary status under the Deferred Action for Childhood Arrivals (DACA) immigration policy, and any other individual who qualifies to apply for federal financial aid under the Free Application for Federal Student Aid’s (FAFSA) eligible non-citizen category. 11

In 2008, the Association of Raza Educators (A.R.E.), a far-left education advocacy organization, pressured Hispanic Scholarship Fund to expand its program and provide scholarship funding for all noncitizens, including illegal immigrants. 12

Controversies

In December 2025, the American Alliance for Equal Rights (AAER) filed a lawsuit against the Hispanic Scholarship Fund in the U.S. District Court for the District of Columbia on behalf of two students. Both students, and the AAER, argued that the Fund violated the Civil Rights Act by illegally discriminating and restricting scholarships to those who “identify as being Hispanic.” 13 Edward Blum, the president of AAER, argued, “There are lots of scholarship funds and grants that target certain races and religions and ethnicities that are legal…[t]his one, because it is of a contractual nature, falls outside of the law.” 13

Leadership

Fidel A. Vargas is the president of the Hispanic Scholarship Fund. Prior to joining the organization, he was a founding member of Centinela Capital Partners, an asset management firm. 14 Vargas has made political contributions to the Democratic National Committee, the Hilary Clinton campaign, the Barack Obama campaign, the Xavier Becerra congressional campaign, and other Democratic Party candidates. 15

Gene Camarena is the chairman of the board of directors for the Hispanic Scholarship Fund. He is the President and CEO of La Raza Pizza, Inc., a company with substantial stakes in Pizza Hut, Marriot Hotels, banking and real estate development. 16 Camarena has made political contributions to Kansas Democratic Party congressional candidate Carlos Nolla and I.P.H.F.H.A. Inc., the political action committee for the Pizza Hut Franchise Holders Association. 17

References

  1. “About HSF” Hispanic Scholarship Fund. https://www.hsf.net/about-hsf
  2. Quinn, Ryan. “Lawsuit: Hispanic Scholarship Fund Illegally Discriminates.” Inside Higher Ed, December 5, 2025. https://www.insidehighered.com/news/students/financial-aid/2025/12/05/lawsuit-hispanic-scholarship-fund-illegally-discriminates.
  3. “Hispanic Scholarship Fund, Full Filing – Nonprofit Explorer.” ProPublica. Accessed January 26, 2026. https://projects.propublica.org/nonprofits/organizations/521051044/202522269349302982/full.
  4. “HSF HIGHLIGHTED AS PART OF NATIONAL TOYOTA HOLIDAY CAMPAIGN.” Hispanic Scholarship Fund, December 9, 2021. https://www.hsf.net/press/toyota-holiday-campaign.
  5. American Honda Motor Co., Inc. “Honda Advances Support of Hispanic Scholarship Fund with $1 Million Donation.” PR Newswire, September 28, 2022. https://www.prnewswire.com/news-releases/honda- advances-support-of-hispanic-scholarship-fund-with-1-million-donation-301635000.html.
  6. “Raising Cane’s Founder Presents $100K Donation to Hispanic Scholarship Fund .” Odessa American, September 23, 2022. https://www.oaoa.com/local-news/raising-canes-founder-presents-100k-donation-to-hispanic-scholarship-fund/.
  7. “LOWE’S COMPANIES, INC. EXTENDS 15-YEAR PARTNERSHIP WITH HSF.” Hispanic Scholarship Fund, August 4, 2024. https://www.hsf.net/press/lowes.
  8. Sheffield, Paige. “Mackenzie Scott Donated $7.1 Billion This Year & Quietly Dragged Every Wealthy Man.” CafeMom, December 11, 2025. https://cafemom.com/entertainment/mackenzie-scott-nonprofit-donations.
  9. “COCA-COLA COMMITS TO DIAMANTE SPONSORS FOR HSF’S 50th ANNIVERSARY CELEBRATION & LEADERS IN EDUCATION AWARDS.” Hispanic Scholarship Fund, April 16, 2025. https://www.hsf.net/press/coca-cola.
  10. “HSF ANNOUNCES NEW PARTNERSHIP WITH ABM INDUSTRIES.” Hispanic Scholarship Fund, July 16, 2025. https://www.hsf.net/press/abm.
  11. “Scholarships” Hispanic Scholarship Fund. https://www.hsf.net/scholarship
  12. “An Open Letter to the Hispanic Scholarship Fund from the Association of Raza Educators” 22 Rethink Schools No. 4, 2008. Accessed December 5, 2020. https://rethinkingschools.org/articles/open-letter-to-the-hispanic-scholarship-fund/
  13. Mokam, Bernard. “Lawsuit Challenges a Nonprofit’s Scholarships for Hispanic Students.” NY Times, December 3, 2025. https://www.nytimes.com/2025/12/03/us/hispanic-scholarship-fund-lawsuit-discrimination.html?unlocked_article_code=1.6E8.XZkl.v9PV_ugyy0Ja&smid=url-share
  14. “Fidel A. Vargas” Hispanic Scholarship Fund. https://ee.hsf.net/en/about-hsf/people/bios/fidel-vargas/bio-set/staff
  15. “Fidel A. Vargas Political Contributions” Federal Election Commission. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=FIDEL%20A%20VARGAS
  16. “Gene Camarena” Hispanic Scholarship Fund. https://www.hsf.net/about/hsf-team/board-of-directors
  17. “Gene Camarena Political Contributions” Federal Election Commission. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=gene%20camarena
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Nonprofit Information

  • Accounting Period: March - February
  • Tax Exemption Received: January 1, 1976

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2024 Mar Form 990 $45,537,768 $59,393,948 $135,870,257 $24,492,056 N $43,567,224 $0 $3,187,904 $1,149,680
    2023 Mar Form 990 $40,093,684 $48,338,730 $148,596,443 $26,630,404 N $39,686,049 $0 $3,134,472 $1,283,909
    2022 Mar Form 990 $60,036,131 $47,365,483 $152,619,685 $22,417,514 N $54,773,359 $0 $2,127,769 $1,079,089 PDF
    2021 Mar Form 990 $86,613,000 $36,529,664 $141,362,053 $23,689,069 N $78,997,926 $0 $1,481,409 $2,067,073
    2020 Mar Form 990 $55,255,602 $45,110,520 $81,275,444 $1,559,119 N $54,610,433 $0 $541,086 $805,227 PDF
    2019 Mar Form 990 $76,590,119 $46,501,776 $76,353,087 $4,964,399 N $76,046,155 $0 $396,880 $989,149 PDF
    2018 Mar Form 990 $52,464,745 $44,298,196 $42,515,261 $1,454,128 N $52,409,435 $0 $435,940 $1,262,243 PDF
    2017 Mar Form 990 $47,831,597 $48,536,245 $33,406,397 $1,712,793 N $48,288,485 $0 $186,422 $1,076,839 PDF
    2016 Mar Form 990 $44,839,607 $46,748,109 $32,674,805 $1,331,740 N $44,690,835 $0 $355,436 $1,509,355 PDF
    2015 Mar Form 990 $42,367,322 $44,864,547 $35,306,217 $1,453,671 N $42,139,045 $0 $353,393 $1,145,864 PDF
    2014 Mar Form 990 $43,727,814 $44,293,939 $37,096,891 $1,406,682 N $43,794,924 $0 $313,957 $532,000 PDF
    2013 Mar Form 990 $41,164,260 $46,125,944 $36,666,079 $1,158,920 N $40,549,946 $0 $262,272 $1,543,523 PDF
    2012 Mar Form 990 $53,400,473 $42,391,603 $42,494,710 $2,208,431 N $51,425,107 $0 $460,391 $537,623 PDF
    2011 Mar Form 990 $39,946,013 $39,905,975 $30,725,271 $619,453 N $38,240,855 $0 $340,227 $1,149,586 PDF

    Additional Filings (PDFs)

    Hispanic Scholarship Fund

    1411 W 190TH ST STE 700
    Gardena, CA 90248-4376