Washington Scholarship Fund Inc
- Assets
- $1.5m
- Revenue
- $215.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington Depot, CT
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-2433377
Organization Overview
Washington Scholarship Fund Inc is located in Washington Depot, CT. The organization was established in 2014. 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. Washington Scholarship Fund 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 12/2021, Washington Scholarship Fund Inc generated $215.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $243.4k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION MISSION IS TO AWARD SCHOLARSHIPS TO SENIORS AND GRADUATES FROM SHEPAUG VALLEY HIGH SCHOOL AND OTHER SECONDARY SCHOOLS WHO HAVE BEEN RESIDENTS OF WASHINGTON, WASHINGTON DEPOT, MARBLEDALE AND NEW PRESTON FOR THEIR COLLEGE EDUCATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM PROVIDED EDUCATIONAL SCHOLARSHIPS TO FIFTY-TWO INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
April Crumrine Vice President | OfficerTrustee | 5 | $0 |
Steven T Cornell President | OfficerTrustee | 5 | $0 |
Anthony Amato Treasurer | OfficerTrustee | 5 | $0 |
Susan Payne Secretary | OfficerTrustee | 5 | $0 |
Kiersten Marich Director | Trustee | 1 | $0 |
Darryl Wright 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 | $157,839 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $157,839 |
| Total Program Service Revenue | $0 |
| Investment income | $29,181 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,681 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $215,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $189,700 |
| 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 | $8,844 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,409 |
| Fees for services: Other | $0 |
| Advertising and promotion | $303 |
| Office expenses | $4,531 |
| 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 | $175 |
| All other expenses | $355 |
| Total functional expenses | $243,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,161 |
| Savings and temporary cash investments | $182,769 |
| 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 | $13,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,047,946 |
| Intangible assets | $0 |
| Other assets | $126,440 |
| Total assets | $1,460,732 |
| 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 | $1,360,732 |
| Net assets with donor restrictions | $100,000 |
| 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 | $1,460,732 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Washington Scholarship Fund Inc has recieved totaling $31,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $20,000 |
Carmel Hill Fund New York, NY PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE | $5,000 |
Wenden Foundation Washington Depot, CT PURPOSE: UNRESTRICTED | $2,000 |
The Kestrel Foundation Florham Park, NJ PURPOSE: GENERAL UNRESTRICTED | $2,000 |
The Jaffe Family Foundation Valley Cottage, NY PURPOSE: SUPPORT CHARITABLE PURPOSE | $1,000 |
Block Grausman Fund New York, NY PURPOSE: GENERAL CHARITABLE PURPOSE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |