Massachusetts Bankers Association Scholarship Foundation
- Assets
- $8.6k
- Revenue
- $16.0k
- Investments
- $79.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 07/1999
- Data as of
- 12/2021
- EIN
- 04-3460557
Organization Overview
Massachusetts Bankers Association Scholarship Foundation is located in Boston, MA. The organization was established in 1999. 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. Massachusetts Bankers Association Scholarship Foundation 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, Massachusetts Bankers Association Scholarship Foundation generated $16.0k in total revenue. All expenses for the organization totaled $18.3k during the year ending 12/2021. While expenses have increased by 14.4% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Misa Nguyen Project Manager | 1 | $0 | |
Francesca G Bertolino Svp/director (retired) | 1 | $0 | |
John Wiseman Trustee | 1 | $0 | |
Jon K Skarin Trustee | 1 | $0 | |
Mark R Oconnell Trustee | 1 | $0 | |
Kathleen Murphy President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $16,000 |
| Interest on Savings | $8 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $16,008 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $235 |
| Total operating and administrative expenses | $2,267 |
| Contributions, gifts, grants paid | $16,000 |
| Total expenses and disbursements | $18,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,564 |
| 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 | $8,643 |
| 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, Massachusetts Bankers Association Scholarship Foundation has awarded $16,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
SYDNEY DIMARZIO PURPOSE: EXEMPT PURPOSE | $2,500 |
JESSICA ZENACK PURPOSE: EXEMPT PURPOSE | $2,500 |
TIMOTHY GAGE PURPOSE: EXEMPT PURPOSE | $2,500 |
ZACHARY KATIMY PURPOSE: EXEMPT PURPOSE | $2,500 |
JACOB RIVET PURPOSE: EXEMPT PURPOSE | $2,500 |
EMILIA COSTA PURPOSE: EXEMPT PURPOSE | $500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Massachusetts Bankers Association Scholarship Foundation has recieved totaling $16,000.
| Awarding Organization | Amount |
|---|---|
Massachusetts Bankers Association Charitable Foundation Inc Boston, MA PURPOSE: EXEMPT PURPOSE | $16,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vermont Student Development Fund Inc Winooski, VT | $17,468,961 | $10,359,436 |
The Teagle Foundation Incorporated New York, NY | $172,379,349 | $12,655,674 |
Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |
The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Gilder Lehrman Institute Of American History New York, NY | $67,600,972 | $8,993,543 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Target Als Foundation Inc New York, NY | $26,527,264 | $6,977,665 |
Pursuit Transformation Company Inc Long Island City, NY | $13,294,970 | $6,856,404 |
Firemens Association Of The State New York Foundation Inc Albany, NY | $161,398,482 | $10,617,589 |
Morgan Stanley Foundation Inc New York, NY | $117,614,938 | $39,846,453 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |