William Mcgrath Scholarship Tr

Organization Overview

William Mcgrath Scholarship Tr is located in Roebling, NJ. The organization was established in 2006. 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. William Mcgrath Scholarship Tr 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 12/2022, William Mcgrath Scholarship Tr generated $14.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.2%) each year. All expenses for the organization totaled $43.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, William Mcgrath Scholarship Tr has awarded 72 individual grants totaling $345,000. 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2022

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION WILL, IN ACCORDANCE WITH ITS CHARITABLE PURPOSE, MAKE UP TO $45,000 IN DISTRIBUTRIONS FOR SCHOLARSHIPS OF NOT MORE THAN $5,000 PER RECIPIENT TO GRADUATING SENIORS FROM THE FLORENCE TOWNSHIP HIGH SCHOOL EACH YEAR. DISTRIBUTIONS TO MEMBERS OF THE CLASSES OF 2019 - 2022 HAVE RECOGNIZED AS PROGRAM EXPENSES FOR 2022.


SCHOLARSHIPS TO BE AWARDED TO TWO MEMBERS OF THE CLASS OF 2023 WILL BE PAYABLE WITHIN ONE YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
Louis Borbi
Trustee
$0
Carol Borbi
Trustee
$0
Kathleen Lengel
Trustee
$0
Donald Porter
Trustee
$0
Marge Lukens
Trustee
$0

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $0
Interest on Savings $45
Dividends & Interest $17,522
Net Rental Income$0
Net Gain on Sale of Assets -$3,478
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $14,089

Grants Awarded

Over the last fiscal year, William Mcgrath Scholarship Tr has awarded $37,500 in support to 9 organizations.

Grant RecipientAmount

JAJUAN HAYES

PURPOSE: SCHOLARSHIP

$5,000

ELIZABETH REYES

PURPOSE: SCHOLARSHIP

$5,000

DAVID BUDDLE

PURPOSE: SCHOLARSHIP

$5,000

JEFFREY TRAYNOR

PURPOSE: SCHOLARSHIP

$5,000

MYARA GOMEZ

PURPOSE: SCHOLARSHIP

$5,000

ZACHARY JONES

PURPOSE: SCHOLARSHIP

$2,500
View Grant Profile

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