Raymond E Riddick Memorial Scholarship Fund Inc
- Assets
- $183.5k
- Revenue
- $17.2k
- Investments
- $180.7k
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 02/1982
- Data as of
- 06/2022
- EIN
- 04-2636854
Organization Overview
Raymond E Riddick Memorial Scholarship Fund Inc is located in Lowell, MA. The organization was established in 1982. 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. Raymond E Riddick Memorial Scholarship 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 06/2022, Raymond E Riddick Memorial Scholarship Fund Inc generated $17.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 37.0% each year . All expenses for the organization totaled $14.7k during the year ending 06/2022. While expenses have increased by 3.4% 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS PAID TO LOWELL MA HIGH SCHOOL SENIORS GOING TO COLLEGE THE FOLLOWING FALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Dick President | 1 | $0 | |
Marjorie Miller Clerk | 0.5 | $0 | |
Rosanne Riddick Treasurer | 1 | $0 | |
Walter Nelson Director | 0.25 | $0 | |
George Basbanes Director | 0.25 | $0 | |
Elizabeth Dick Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,560 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $13,635 |
| Capital Gain Net Income | $13,635 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,195 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $284 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $717 |
| Total operating and administrative expenses | $3,661 |
| Contributions, gifts, grants paid | $11,000 |
| Total expenses and disbursements | $14,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $598 |
| Savings and temporary cash investments | $2,223 |
| 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 | $183,482 |
| 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, Raymond E Riddick Memorial Scholarship Fund Inc has awarded $11,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CARLEIGH AHERN PURPOSE: COLLEGE SCHOLARSHIPS | $2,200 |
TRAVIS VAN DINTNER PURPOSE: COLLEGE SCHOLARSHIP | $2,200 |
CASEY MITCHELL PURPOSE: COLLEGE SCHOLARSHIP | $2,200 |
CALLUM BURGESS PURPOSE: COLLEGE SCHOLARSHIP | $2,200 |
RYAN COURTNEY PURPOSE: COLLEGE SCHOLARSHIP | $2,200 |