Maine Childrens Scholarship Fund
- Assets
- $1.5m
- Revenue
- $110.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Unity, ME
- Founding
- 01/2001
- Data as of
- 08/2022
- EIN
- 01-0537569
Organization Overview
Maine Childrens Scholarship Fund is located in Unity, ME. The organization was established in 2001. 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. Maine Childrens 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 08/2022, Maine Childrens Scholarship Fund generated $110.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $181.3k during the year ending 08/2022. While expenses have increased by 3.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MCSF MISSION IS TO INCREASE THE EDUCATIONAL OPPORTUNITIES AND INCREASE THE PARENTAL INVOLVEMENT FOR THE CHILDERN OF LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MCSF ACCOMPLISHMENTS FOR THE YEAR WAS TO PROVIDE TUITION TO STUDENTS THAT MET OUR INCOME GUIDELINES AND WERE CHOSEN IN A RANDOM SELECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kari Hunt Program Dire | Officer | 25 | $27,488 |
Betsy Chapman President | OfficerTrustee | 5 | $0 |
Helen Crowley Secretary | OfficerTrustee | 5 | $0 |
Kathy Dowling Treasurer | OfficerTrustee | 5 | $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 | $1,743 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,743 |
| Total Program Service Revenue | $0 |
| Investment income | $17,231 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,357 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $110,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $115,695 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $27,488 |
| 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 | $2,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $185 |
| Fees for services: Accounting | $1,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,344 |
| Fees for services: Other | $1,023 |
| Advertising and promotion | $3,069 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $494 |
| 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 | $1,843 |
| Insurance | $1,660 |
| All other expenses | $0 |
| Total functional expenses | $181,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96 |
| Savings and temporary cash investments | $34,533 |
| 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 | $4,607 |
| Investments—publicly traded securities | $1,475,606 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,514,842 |
| 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 | $1,514,842 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,514,842 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Maine Childrens Scholarship Fund has recieved totaling $60.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $60 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Alfond Scholarship Foundation Portland, ME | $2,013,971 | $7,474,819 |
Island Institute Rockland, ME | $34,942,404 | $7,827,911 |
Senator George J Mitchell Scholarship Research Institute Portland, ME | $52,911,391 | $4,164,591 |
Dartmouth Educational Loan Corp Hanover, NH | $0 | $769,004 |
Maine Huts & Trails Kingfield, ME | $4,908,401 | $661,493 |
Donato J Tramuto Foundation Ogunquit, ME | $1,147,543 | $792,023 |
Lakes Region Scholarship Foundation Gilford, NH | $13,202,377 | $2,617,531 |
Harambe Endeavor Alliance Concord, NH | $2,789,573 | $314,506 |
Robert B Bunker Medical School Scholarship Trust Laconia, NH | $10,035,402 | $504,867 |
The Sukeforth Family Foundation South China, ME | $12,098,841 | $1,239,260 |
Service Credit Union Impact Foundation Portsmouth, NH | $153,778 | $370,899 |