Boothbay Region Student Aid Fund Inc
- Assets
- $8.7m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Boothbay Harbor, ME
- Founding
- 11/1964
- Data as of
- 05/2022
- EIN
- 01-6019359
Organization Overview
Boothbay Region Student Aid Fund Inc is located in Boothbay Harbor, ME. The organization was established in 1964. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boothbay Region Student Aid Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Boothbay Region Student Aid Fund Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.4% each year . All expenses for the organization totaled $421.0k during the year ending 05/2022. While expenses have increased by 8.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE NEED-BASED FINANCIAL ASSISTANCE TO BOOTHBAY REGION HIGH SCHOOL GRADUATES SEEKING EDUCATION BEYOND THE SECONDARY LEVEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED FINANCIAL AID FOR POST SECONDARY EDUCATION TO GRADUATES OF THE BOOTHBAY REGION HIGH SCHOOL WHO LACKED ADEQUATE FINANCIAL RESOURCES. 71 GRANTS WERE AWARDED DURING THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Goldenberg Treasurer | OfficerTrustee | 1 | $0 |
Wendy Johnson Vice Preside | OfficerTrustee | 1 | $0 |
Teresa Koster President | OfficerTrustee | 1 | $0 |
Susan Corbin Director | Trustee | 0.5 | $0 |
Tracey Hall Director | Trustee | 0.5 | $0 |
Mark Tess Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,568,632 |
| Noncash contributions included in lines 1a–1f | $104,253 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,568,632 |
| Total Program Service Revenue | $0 |
| Investment income | $100,943 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,669,575 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $389,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,001 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $396 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,769 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $400 |
| Office expenses | $7,770 |
| Information technology | $1,484 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,763 |
| All other expenses | $0 |
| Total functional expenses | $420,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $362,028 |
| Savings and temporary cash investments | $11,454 |
| Pledges and grants receivable | $2,355,332 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,204 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,904,079 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,493 |
| Total assets | $8,673,590 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,044,930 |
| Net assets with donor restrictions | $5,628,660 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,673,590 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Boothbay Region Student Aid Fund Inc has recieved totaling $50,086.
| Awarding Organization | Amount |
|---|---|
Mildred H Mcevoy Foundation Worcester, MA PURPOSE: GENERAL FUND | $20,000 |
Mildred H Mcevoy Foundation Worcester, MA PURPOSE: GENERAL FUND | $10,000 |
Susan & George Craig Family Foundation Ridgefield, CT PURPOSE: GENERAL | $7,500 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Scholarships & Financial Aid | $6,000 |
The Wilson Wilde Family Foundation Inc Palm Beach Gardens, FL PURPOSE: GENERAL FUND | $4,000 |
A R And Marylouise Tandy Foundation Tulsa, OK PURPOSE: SCHOLARSHIP | $1,300 |
Endowment Analysis
| Beg. Balance | $6,358,230 |
| Earnings | -$348,158 |
| Net Contributions | $113,751 |
| Grants | $219,744 |
| Ending Balance | $5,904,079 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Alfond Scholarship Foundation Portland, ME | $2,013,971 | $7,474,819 |
Island Institute Rockland, ME | $34,942,404 | $7,827,911 |
Senator George J Mitchell Scholarship Research Institute Portland, ME | $52,911,391 | $4,164,591 |
Dartmouth Educational Loan Corp Hanover, NH | $0 | $769,004 |
Maine Huts & Trails Kingfield, ME | $4,908,401 | $661,493 |
Donato J Tramuto Foundation Ogunquit, ME | $1,147,543 | $792,023 |
Lakes Region Scholarship Foundation Gilford, NH | $13,202,377 | $2,617,531 |
Harambe Endeavor Alliance Concord, NH | $2,789,573 | $314,506 |
Robert B Bunker Medical School Scholarship Trust Laconia, NH | $10,035,402 | $504,867 |
The Sukeforth Family Foundation South China, ME | $12,098,841 | $1,239,260 |
Service Credit Union Impact Foundation Portsmouth, NH | $153,778 | $370,899 |