W Scott Reid Scholarship Fund
- Assets
- $450.0k
- Revenue
- $46.3k
- Investments
- $406.9k
- Employees
- 0
- Location
- Auburn, ME
- Founding
- 04/1998
- Data as of
- 12/2021
- EIN
- 01-6141002
Organization Overview
W Scott Reid Scholarship Fund is located in Auburn, ME. The organization was established in 1998. 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. W Scott Reid Scholarship Fund 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 12/2021, W Scott Reid Scholarship Fund generated $46.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $31.2k during the year ending 12/2021. While expenses have increased by 10.9% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES CONSIST SOLELY OF THE GRANTING OF SCHOLARSHIPS TO STUDENTS WHO ARE MAINE RESIDENTS AND ARE PURSUING A DEGREE IN NURSING AT A COLLEGE LOCATED WITHIN THE STATE OF MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arnold Hill Chairman | 0 | $0 | |
Michele Trynor Trustee | 0 | $0 | |
George Stevens Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,382 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $26,894 |
| Capital Gain Net Income | $26,894 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $46,276 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $993 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $300 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $7,193 |
| Contributions, gifts, grants paid | $24,000 |
| Total expenses and disbursements | $31,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,090 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $449,993 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, W Scott Reid Scholarship Fund has awarded $24,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
CLAUDIA M FOX PURPOSE: SCHOLARSHIP TO UNIVERSITY OF MAINE ORONO | $3,200 |
MEGAN E GREATON PURPOSE: SCHOLARSHIP TO ST. JOSEPH'S COLLEGE | $3,200 |
MADISON ST PIERRE PURPOSE: SCHOLARSHIP TO KENNEBEC VALLEY COMMUNITY COLLEGE | $3,200 |
ELEANOR DOW PURPOSE: SCHOLARSHIP TO ST. JOSEPH'S COLLEGE | $3,200 |
JESSICA BERUBE PURPOSE: SCHOLARSHIP TO MAINE COLLEGE OF HEALTH PROFESSIONS | $2,000 |
LAUREN R CONIFF PURPOSE: SCHOLARSHIP TO HUSSON UNIVERSITY | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Boothbay Region Student Aid Fund Inc Boothbay Harbor, ME | $8,673,590 | $2,669,575 |