Scots Charitable Society
- Assets
- $2.1m
- Revenue
- $271.5k
- Investments
- $1.8m
- Employees
- 0
- Location
- Glendale, RI
- Founding
- 10/1942
- Data as of
- 12/2023
- EIN
- 04-6040091
Organization Overview
Scots Charitable Society is located in Glendale, RI. The organization was established in 1942. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Scots Charitable Society 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 12/2023, Scots Charitable Society generated $271.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $146.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Scots Charitable Society has awarded 41 individual grants totaling $565,664. 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 |
|---|---|---|---|
Wayne Macdonald Secretary | 2 | $0 | |
Christopher Young Scholarship Chair | 2 | $0 | |
Scott Mckenzie Vice President | 2 | $0 | |
Alan Mccall President | 2 | $0 | |
David Ianngans Membership Chair | 2 | $0 | |
Anne Marie Kennedy Relief Chair | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $210,285 |
| Interest on Savings | $2,462 |
| Dividends & Interest | $51,079 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,686 |
| Capital Gain Net Income | $2,686 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,023 |
| Total Revenue | $271,535 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $758 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,471 |
| Total operating and administrative expenses | $45,590 |
| Contributions, gifts, grants paid | $100,900 |
| Total expenses and disbursements | $146,490 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $257,459 |
| 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 | $4,213 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,829,903 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5 |
| Total assets | $2,091,580 |
| 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, Scots Charitable Society has awarded $100,900 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
DANIEL MCHATTON PURPOSE: FINANCIAL ASSISTANCE FOR THOSE IN NEED | $1,200 |
FIRST PRESBYTERIAN CHURCH PURPOSE: CHARITABLE EVENT FUNDRAISER | $150 |
DOUGLAS KILGORE PURPOSE: FINANCIAL ASSISTANCE FOR THOSE IN NEED | $5,000 |
VARIOUS PURPOSE: COLLEGE TUITION | $94,550 |