Patrick M Smith And Janet T Smith Memorial Scholarship Fund
- Assets
- $250.2k
- Revenue
- $58.3k
- Investments
- $200.7k
- Employees
- 0
- Location
- Bensalem, PA
- Founding
- 03/1995
- Data as of
- 06/2023
- EIN
- 23-2791619
Organization Overview
Patrick M Smith And Janet T Smith Memorial Scholarship Fund is located in Bensalem, PA. The organization was established in 1995. 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. Patrick M Smith And Janet T Smith Memorial 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 06/2023, Patrick M Smith And Janet T Smith Memorial Scholarship Fund generated $58.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $41.3k during the year ending 06/2023. While expenses have increased by 3.4% per year over the past 8 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 2015, Patrick M Smith And Janet T Smith Memorial Scholarship Fund has awarded 201 individual grants totaling $447,600. 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
SCHOLARSHIPS AWARDED FOR TUITION FOR THE FALL AND SPRING SEMESTERS FOR STUDENTS OF LOCAL HIGH SCHOOLS AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Smith Jr President | 10 | $0 | |
Anthony Smith Vice Preside | 2 | $0 | |
Janet Perry Director | 2 | $0 | |
Michael Smith Director | 2 | $0 | |
Collin Walsh Director | 2 | $0 | |
Stephen Sharp Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $47,790 |
| Interest on Savings | $3,907 |
| Dividends & Interest | $6,027 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $625 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $58,349 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $134 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15,141 |
| Total operating and administrative expenses | $15,275 |
| Contributions, gifts, grants paid | $26,000 |
| Total expenses and disbursements | $41,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2 |
| Savings and temporary cash investments | $49,455 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $250,155 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $31,000 |
| 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 | $31,000 |
Grants Awarded
Over the last fiscal year, Patrick M Smith And Janet T Smith Memorial Scholarship Fund has awarded $49,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ANNA FINOCCHIARO PURPOSE: TUITION | $2,500 |
ALYSSA MISSION PURPOSE: TUITION | $2,500 |
ANTHONY FINOCCHIARO PURPOSE: TUITION | $2,500 |
CONRAD KANIA PURPOSE: TUITION | $2,500 |
NICHOLAS ROGERS PURPOSE: TUITION | $2,500 |
SEAN BROWN PURPOSE: TUITION | $2,500 |