Wellesley Students Aid Society Inc
- Assets
- $41.3m
- Revenue
- $3.3m
- Investments
- $28.7m
- Employees
- 0
- Location
- Wellesley, MA
- Founding
- 02/1941
- Data as of
- 06/2022
- EIN
- 04-2152598
Organization Overview
Wellesley Students Aid Society Inc is located in Wellesley, MA. The organization was established in 1941. 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. Wellesley Students Aid Society 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 06/2022, Wellesley Students Aid Society Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. While expenses have increased by 5.8% 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
PROVIDE LOANS AND OTHER MEANS OF SUPPORT TO WELLESLEY COLLEGE STUDENTS WITH DEMONSTRATED NEED. SUPPLEMENTING WELLESLEY COLLEGE'S FINANCIAL AID PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY WAS FOUNDED IN 1878 FOR THE PURPOSE OF PROVIDING FUNDS FOR WOMEN WHO COULD NOT AFFORD A WELLESLEY EDUCATION. MORE THAN 135 YEARS LATER, THE SOCIETY CONTINUES AS A VIBRANT, INDEPENDENT CORPORATION THAT IS SUPPORTED BY ALUMNAE AND FRIENDS. ITS PURPOSE HAS NOT CHANGED SINCE INCEPTION, ALTHOUGH STUDENTS ARE NOW SUPPORTED IN A VARIETY OF WAYS. THE SOCIETY PROVIDES TUITION GRANTS, SHORT-TERM AND NO INTEREST LOANS, EMERGENCY FUNDS FOR STUDENTS FACING UNFORSEEN DIFFICULTIES, AND TEXT BOOK SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jamie Sabino President | OfficerTrustee | 2 | $0 |
Tanya M Roy Treasurer | OfficerTrustee | 1 | $0 |
Milena Mareva Director | OfficerTrustee | 1 | $0 |
Estefania Lamas-Hernandez Secretary | OfficerTrustee | 1 | $0 |
Michelle Gillett Director | Trustee | 0.5 | $0 |
Stanley Change Faculty Rep | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,143,564 |
| Investment income | $2,928 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,075,128 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,253,513 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $103,269 |
| 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 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 | $359,351 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,641 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $109,973 |
| Fees for services: Other | $47,852 |
| Advertising and promotion | $9,181 |
| Office expenses | $49,646 |
| 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 | $542 |
| Insurance | $1,664 |
| All other expenses | $0 |
| Total functional expenses | $1,567,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $824,572 |
| Savings and temporary cash investments | $725,075 |
| 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 | $1,536,865 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $9,479,440 |
| Investments—other securities | $28,722,242 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,290,339 |
| 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 | $40,618,027 |
| Net assets with donor restrictions | $672,312 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $41,290,339 |