Alice S Ayling Scholarship Foundation
- Assets
- $8.0m
- Revenue
- $2.1m
- Investments
- $6.9m
- Employees
- 0
- Location
- Woburn, MA
- Founding
- 06/1987
- Data as of
- 12/2023
- EIN
- 22-2808952
Organization Overview
Alice S Ayling Scholarship Foundation is located in Woburn, MA. The organization was established in 1987. 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. Alice S Ayling Scholarship Foundation 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, Alice S Ayling Scholarship Foundation generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 10.8% per year over the past 9 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 2014, Alice S Ayling Scholarship Foundation has awarded 160 individual grants totaling $10,270,800. 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
GRANTS ARE MADE TO COLLEGES AND UNIVERSITIES FOR PURPOSES OF PROVIDING SCHOLARSHIPS TO STUDENTS WHO ARE ENGAGED IN FULL TIME STUDIES.(SEE PART XV)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael C Andrews Trustee | 2 | $27,500 | |
Richard P Hamel Trustee | 2 | $57,910 | |
Gerald B O'grady III Trustee | 2 | $57,910 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $610,710 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,094,907 |
| Capital Gain Net Income | $1,094,907 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $370,195 |
| Total Revenue | $2,075,812 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $143,320 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,153 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $157,273 |
| Contributions, gifts, grants paid | $1,510,750 |
| Total expenses and disbursements | $1,668,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,122,174 |
| 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 | $154,350 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,040,882 |
| 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, Alice S Ayling Scholarship Foundation has awarded $1,510,750 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
BOWDOIN COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $88,000 |
CLARK UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $110,000 |
COLBY COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $92,500 |
KEENE STATE COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $121,000 |
LESLEY UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $115,000 |
MASS COLLEGE OF LIBERAL ARTS PURPOSE: EDUCATIONAL SCHOLARSHIP | $107,000 |