Rhode Island Cpcu Scholarship Fund
- Assets
- $1.2m
- Revenue
- $61.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, RI
- Founding
- 03/1994
- Data as of
- 06/2022
- EIN
- 05-0473536
Organization Overview
Rhode Island Cpcu Scholarship Fund is located in Lincoln, RI. The organization was established in 1994. 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. Rhode Island Cpcu 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 06/2022, Rhode Island Cpcu Scholarship Fund generated $61.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $46.3k during the year ending 06/2022. While expenses have increased by 8.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SCHOLARSHIPS TO INDIVIDUALS ASSOCIATED WITH THE INSURANCE INDUSTRY IN ACCORDANCE WITH ELIGIBILITY GUIDELINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO INDIVIDUALS ASSOCIATED WITH THE INSURANCE INDUSTRY IN ACCORDANCE WITH ELIGIBILITY GUIDELINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Rusate President | OfficerTrustee | 1 | $0 |
Stefvan Drezek Treasurer | OfficerTrustee | 1 | $0 |
David Fales Secretary | OfficerTrustee | 1 | $0 |
Todd Larson Director | Trustee | 1 | $0 |
Michelle Pelletier Director | Trustee | 1 | $0 |
John Tickner Director | Trustee | 1 | $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 | $15,975 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,975 |
| Total Program Service Revenue | $0 |
| Investment income | $45,660 |
| 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 | $61,635 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $43,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $1,928 |
| All other expenses | $1,364 |
| Total functional expenses | $46,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,922 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,146,525 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,151,447 |
| 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 | $1,151,447 |
| Net assets with donor restrictions | $0 |
| 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 | $1,151,447 |
Endowment Analysis
| Beg. Balance | $1,346,639 |
| Earnings | -$164,875 |
| Admin Expense | $3,292 |
| Net Contributions | $15,975 |
| Grants | $43,000 |
| Ending Balance | $1,151,446 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |
Thrive Scholars Boston, MA | $14,006,320 | $13,719,971 |
Boston Latin School Association Boston, MA | $71,373,277 | -$8,021,699 |
Feigenbaum Foundation Inc Pittsfield, MA | $77,550,637 | $8,621,230 |
Bpe Roxbury, MA | $4,024,536 | $5,203,233 |
The Francis Ouimet Scholarship Fund Inc Norton, MA | $27,290,373 | $6,126,185 |
Seed Global Health Inc Boston, MA | $17,125,826 | $3,834,795 |
Adopt-A-Student Foundation Boston, MA | $35,377,425 | $24,201,045 |
Garden Homes Fund Stamford, CT | $20,595,820 | $4,598,282 |