Salem Rotary Club Vance M Smith Iii Scholarship Foundation Inc

Organization Overview

Salem Rotary Club Vance M Smith Iii Scholarship Foundation Inc is located in Salem, MA. The organization was established in 1993. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, 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. Salem Rotary Club Vance M Smith Iii Scholarship Foundation 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 06/2021, Salem Rotary Club Vance M Smith Iii Scholarship Foundation Inc generated $291.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 38.0% each year . All expenses for the organization totaled $33.1k during the year ending 06/2021. While expenses have increased by 8.3% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE SCHOLARSHIPS TO QUALIFIED HIGH SCHOOL STUDENTS

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIPS PROVIDED TO NUMEROUS QUALIFIED LOCAL HIGH SCHOOL GRADUATES


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Board, Officers & Key Employees

Name (title)Compensation
John P Fisher
President
$0
Robert Lutts
Treasurer
$0
Christopher T Casey
Clerk
$0
Timothy Clark
Director
$0
Bruce Whear
Director
$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$8,521
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$8,521
Total Program Service Revenue$0
Investment income $20,635
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $78,647
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $291,015

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Salem Rotary Club Vance M Smith Iii Scholarship Foundation Inc has recieved totaling $15,000.

Awarding OrganizationAmount
Fidelity Investments Charitable Gift Fund

Boston, MA

PURPOSE: For grant recipient's exempt purposes

$15,000
View Grant Recipient Profile

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