The Mclnich Scholarship Fund
- Assets
- $1.8m
- Revenue
- $473.2k
- Investments
- $1.7m
- Employees
- 0
- Location
- Bedford, NH
- Founding
- 04/1990
- Data as of
- 12/2021
- EIN
- 02-6076262
Organization Overview
The Mclnich Scholarship Fund is located in Bedford, NH. The organization was established in 1990. 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. Mclnich 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, Mclnich Scholarship Fund generated $473.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $125.0k during the year ending 12/2021. While expenses have increased by 2.2% 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.
Since 2015, Mclnich Scholarship Fund has awarded 118 individual grants totaling $599,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Cotrustee | 1 | $15,868 | |
Douglas Mcininch Cotrustee | 1 | $10,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $32,425 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $440,133 |
| Capital Gain Net Income | $440,133 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $628 |
| Total Revenue | $473,186 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $25,868 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $73 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $76 |
| Total operating and administrative expenses | $26,017 |
| Contributions, gifts, grants paid | $99,000 |
| Total expenses and disbursements | $125,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $98,105 |
| 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 | $1,804,193 |
| 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, The Mclnich Scholarship Fund has awarded $99,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ALLISON HERMANN PURPOSE: SCHOLARSHIP - TEXAS | $5,500 |
ABIGAIL HUDSON PURPOSE: SCHOLARSHIP - SACRED HEART | $5,500 |
ERIN FLUREY PURPOSE: SCHOLARSHIP - SYRACUSE | $5,500 |
SAMUEL ASSANTHA PURPOSE: SCHOLARSHIP - BATES COLLEGE | $5,500 |
CHRISTINA GATZOULIS PURPOSE: SCHOLARSHIP - FORDHAM | $5,500 |
SAMUEL LATONA PURPOSE: SCHOLARSHIP - CORNELL | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Alfond Scholarship Foundation Portland, ME | $2,013,971 | $7,474,819 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |