Top Notch Scholars Inc
- Assets
- $175.1k
- Revenue
- $287.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Lawrence, MA
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 46-4527723
Organization Overview
Top Notch Scholars Inc is located in Lawrence, MA. The organization was established in 2015. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Top Notch Scholars Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Top Notch Scholars 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, Top Notch Scholars Inc generated $287.2k in total revenue. All expenses for the organization totaled $226.1k during the year ending 12/2021. While expenses have increased by 105.5% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TOP NOTCH HELPS KIDS IDENTIFY THEIR LIFE PASSION AND CAREER GOALS AND THEN MAP OUT THE INTENTIONAL STEPS THAT WILL ULTIMATELY LEAD TO SUCCESS, AS THEYVE DEFINED IT FOR THEMSELVES. WE CONNECT OUR YOUTH WITH RELEVANT INTERNSHIPS AND MENTORS TO GAIN THE CONFIDENCE, SKILLS, AND DISCIPLINE TO STAY ON TRACK IN EXECUTING THEIR PLAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP CURRICULUM FOR SCHOOLS AND ORGANIZATIONS
MENTORING AT RISK YOUTHS AND MOTIVATIONAL SPEAKINGS
SCHOLARSHIPS AND AWARD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanna DE Pena Executive Dir. | Trustee | 40 | $72,543 |
Jenny Alvarez Business Direct | Trustee | 40 | $58,744 |
Ronald Hill President | Trustee | 10 | $0 |
Robinxon Aquino Treasurer | Trustee | 1 | $0 |
Suzanne Mcgrail Board Member | Trustee | 1 | $0 |
Alex Mercedes Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $254,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $285,293 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,855 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $287,150 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,354 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,287 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,008 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,944 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $417 |
| Fees for services: Accounting | $1,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $499 |
| Advertising and promotion | $2,958 |
| Office expenses | $1,360 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,093 |
| 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 | $6,985 |
| Insurance | $745 |
| All other expenses | $2,716 |
| Total functional expenses | $226,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,112 |
| Savings and temporary cash investments | $0 |
| 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 | $7,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $175,096 |
| 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 | $18,388 |
| Other liabilities | $0 |
| Total liabilities | $18,388 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $156,708 |
| Total liabilities and net assets/fund balances | $175,096 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Top Notch Scholars Inc has recieved totaling $203,000.
| Awarding Organization | Amount |
|---|---|
Essex County Community Foundation Incorporated Danvers, MA | | $100,000 |
Amelia Peabody Foundation Wellesley, MA PURPOSE: YOUTH LEADERSHIP & SUCCESS OPERATION | $30,000 |
Oneworld Boston Inc Woburn, MA PURPOSE: EDUCATIONAL SCHOLARSHIPS | $25,000 |
Edward S And Winifred G Moseley Foundation Boston, MA PURPOSE: LEADERSHIP, MOTIVATION AND WELLNESS PROGRAM | $15,000 |
The Lenny Zakim Fund Inc Boston, MA PURPOSE: GENERAL OPERATING SUPPORT | $12,500 |
Rogers Family Foundation Boston, MA PURPOSE: TOP NOTCH SCHOLARS LEADERSHIP AND SUCCESS ACADEMY | $10,000 |
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 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
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 |