Sumner Scholarship Endowment Foundation Inc
- Assets
- $2.7m
- Revenue
- $7.1k
- Investments
- $2.0m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1996
- Data as of
- 06/2023
- EIN
- 13-3899466
Organization Overview
Sumner Scholarship Endowment Foundation Inc is located in New York, NY. The organization was established in 1996. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Sumner Scholarship Endowment Foundation 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 06/2023, Sumner Scholarship Endowment Foundation Inc generated $7.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (35.5%) each year. All expenses for the organization totaled $189.3k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Sumner Scholarship Endowment Foundation Inc has awarded 62 individual grants totaling $1,077,725. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanya Rulon-Miller President | 1 | $0 | |
Martha Tod Dudman Vice President | 1 | $0 | |
Patrick Rulon-Miller Treasurer | 1 | $0 | |
Lana Cockbill Secretary | 2 | $0 | |
William Ross Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,141 |
| Dividends & Interest | $49,879 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$47,969 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,051 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,784 |
| Total operating and administrative expenses | $29,148 |
| Contributions, gifts, grants paid | $160,200 |
| Total expenses and disbursements | $189,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,677 |
| Savings and temporary cash investments | $698,679 |
| 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 | $98,668 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,724,192 |
| 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, Sumner Scholarship Endowment Foundation Inc has awarded $160,200 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BYERSCHOOL FOUNDATION PURPOSE: EDUCATIONAL SUPPORT | $25,000 |
NORTHEAST HARBOR LIBRARY PURPOSE: SCHOLARSHIP PROGRAM AND BOOK FUND | $13,000 |
ISLAND READERS & WRITERS PURPOSE: EDUCATIONAL SUPPORT | $12,000 |
SKOWHEGAN SCHOOL OF PAINTING AND SCULPTURE PURPOSE: EDUCATIONAL SUPPORT | $15,000 |
PROCTOR ACADEMY PURPOSE: MARION HATT SCHOLARSHIP | $30,000 |
THE ISLAND INSTITUTE PURPOSE: EDUCATIONAL SUPPORT | $25,000 |