Smith Students Aid Society Inc
- Assets
- $6.9m
- Revenue
- $604.9k
- Investments
- $6.8m
- Employees
- 0
- Location
- Northampton, MA
- Founding
- 01/1935
- Data as of
- 06/2021
- EIN
- 04-6052751
Organization Overview
Smith Students Aid Society Inc is located in Northampton, MA. The organization was established in 1935. 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. Smith 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 06/2021, Smith Students Aid Society Inc generated $604.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $288.5k during the year ending 06/2021. While expenses have increased by 3.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ASSISTANCE TO SMITH COLLEGE STUDENTS IN THE FORM OF GRANTS AND EMERGENCY FUNDS IN ORDER TO ENHANCE THE QUALITY OF THEIR EDUCATIONAL EXPERIENCE WITH A FOCUS ON NEEDS NOT MET BY TRADITIONAL FINANCIAL AID.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY PROVIDES SMALL INDIVIDUAL GRANTS TO SMITH COLLEGE STUDENTS FOR FINANCIAL ASSISTANCE THAT IS NOT MET THROUGH TRADITIONAL FINANCIAL AID FROM SMITH COLLEGE. THE SOCIETY PROVIDED GRANTS FOR THE FOLLOWING PURPOSES DURING THE REPORTING PERIOD FINE ART SUPPLIES FOR STUDENTS IN A QUALIFYING STUDIO ARTS COURSE CREDIT BEARING PROGRAMS NOT COVERED BY FINANCIAL AID BEYOND SMITH FOR SENIORS NEEDING ASSISTANCE FOR JOB SEARCH, INTERVIEW TRAVEL CLOTHING, GRADUATE PROFESSIONAL SCHOOL APPLICATIONS, ET AL. EMERGENCY MEDICAL/DENTAL, HOUSING, FOOD, CHILD CARE, AND WINTER CLOTHES SUMMER STUDY WITH PREFERENCE FOR STUDENTS WITH CREDIT SHORTAGE SPECIAL OPPORTUNITIES FOR ENRICHMENT NOT COVERED BY FINANCIAL AID TEXTBOOKS AND COMPUTER SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marianne Drake Vice President | OfficerTrustee | 2 | $0 |
Korri Krajicek Secretary | OfficerTrustee | 2 | $0 |
Elsa P Cline President Treasurer | OfficerTrustee | 2 | $0 |
Lindsay Bennett-Jacobs Director | Trustee | 1 | $0 |
Jacinth Cooke Director | Trustee | 1 | $0 |
Rosemary Laporte Director | Trustee | 1 | $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 | $9,881 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,881 |
| Total Program Service Revenue | $0 |
| Investment income | $595,024 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $604,905 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $232,320 |
| 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 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,112 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,598 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $204 |
| 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 | $0 |
| Insurance | $752 |
| All other expenses | $0 |
| Total functional expenses | $288,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,442 |
| Savings and temporary cash investments | $0 |
| 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 | $1,506 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,842,791 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,887,739 |
| 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 | $6,887,739 |
| 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 | $6,887,739 |
Endowment Analysis
| Beg. Balance | $5,178,027 |
| Earnings | $1,954,313 |
| Admin Expense | $37,598 |
| Grants | $251,951 |
| Ending Balance | $6,842,791 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |