W Scott Reid Scholarship Fund
- Assets
- $412.3k
- Revenue
- $12.1k
- Investments
- $380.6k
- Employees
- 0
- Location
- Auburn, ME
- Founding
- 04/1998
- Data as of
- 12/2023
- EIN
- 01-6141002
Organization Overview
W Scott Reid Scholarship Fund is located in Auburn, ME. The organization was established in 1998. 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. W Scott Reid 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 12/2023, W Scott Reid Scholarship Fund generated $12.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $25.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES CONSIST SOLELY OF THE GRANTING OF SCHOLARSHIPS TO STUDENTS WHO ARE MAINE RESIDENTS AND ARE PURSUING A DEGREE IN NURSING AT A COLLEGE LOCATED WITHIN THE STATE OF MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Anderson Chairman | 0 | $0 | |
Michele Trynor Trustee | 0 | $0 | |
George Stevens Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,874 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,185 |
| Capital Gain Net Income | $3,185 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $12,059 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $60 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,930 |
| Contributions, gifts, grants paid | $22,000 |
| Total expenses and disbursements | $25,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,679 |
| Savings and temporary cash investments | $0 |
| 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 | $412,263 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, W Scott Reid Scholarship Fund has awarded $22,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ASHLEY L WINCHENBACH PURPOSE: SCHOLARSHIP TO UNIVERSITY OF MAINE AUGUSTA | $5,250 |
EDIE R SHEA PURPOSE: SCHOLARSHIP TO HUSSON UNIVERSITY. | $5,250 |
GRACE P GIRARDIN PURPOSE: SCHOLARSHIP TO UNIVERSITY OF SOUTHERN MAINE. | $5,250 |
TUCKER E GAGNON PURPOSE: SCHOLARSHIP TO UNIVERSITY OF SOUTHERN MAINE. | $1,000 |
SHALLEY A JOHNSON PURPOSE: SCHOLARSHIP TO UNIVERSITY OF MAINE AUGUSTA | $5,250 |