Ethan Allen Brown Scholarship Fund
- Assets
- $1.7m
- Revenue
- $133.9k
- Investments
- $1.7m
- Employees
- 0
- Location
- Hanover, MA
- Founding
- Data as of
- 12/2022
- EIN
- 04-6054298
Organization Overview
Ethan Allen Brown Scholarship Fund is located in Hanover, MA. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ethan Allen Brown 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 12/2022, Ethan Allen Brown Scholarship Fund generated $133.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $270.6k during the year ending 12/2022. While expenses have increased by 21.3% 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.
Since 2022, Ethan Allen Brown Scholarship Fund has awarded 18 individual grants totaling $439,762. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS NOW IN EFFECT OR AS MAY BE HEREAFTER AMENDED (THE "CODE"). FURTHERMORE, THE ORGANIZATION WAS FORMED AS SCHOLARSHIP AWARDING ORGANIZATION THAT WILL GRANT SCHOLARSHIPS AS NOTED BELOW. THESE ACTIVITIES WILL BE RUN BY THE ORGANIZATION'S DIRECTORS, OFFICERS AND VOLUNTEERS AND WILL CONSTITUTE 100% OF THE ORGANIZATION'S PLANNED ACTIVITIES. 1) THE TRUSTEE WILL SELECT A DEAN OF A COLLEGE, A PRIEST OR MINISTER, AND A RABBI WHOSE DUTY IT WILL BE TO SELECT WORTHY STUDENTS TO RECEIVE SCHOLARSHIPS AWARDS AT COLLEGE OR GRADUATE LEVELS. 2) THE AWARDS WILL BE PRESENTED TO STUDENTS SELECTED BY THE COMMITTEE AS A GIFT. THE AMOUNT OF EACH AWARD WILL BE DETERMINED BY THE COMMITTEE. 3) THE TRUSTEE WILL DISTRIBUTE ANNUALLY NOT LESS THAN FIVE PERCENT OF THE PRINCIPAL FOR SCHOLARSHIP AWARDS, BUT HAS DISCRETION TO DISTRIBUTE ADDITIONAL AMOUNTS.
THE ORGANIZATION WAS FORMED AND OPERATED EXCLUSIVELY FORCHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3)OF THE INTERNAL REVENUE CODE OF 1986, AS NOW IN EFFECT OR ASMAY BE HEREAFTER AMENDED (THE "CODE"). FURTHERMORE, THEORGANIZATION WAS FORMED AS SCHOLARSHIP AWARDING ORGANIZATIONTHAT WILL GRANT SCHOLARSHIPS AS NOTED BELOW. THESEACTIVITIES WILL BE RUN BY THE ORGANIZATION'S DIRECTORS,OFFICERS AND VOLUNTEERS AND WILL CONSTITUTE 100% OF THEORGANIZATION'S PLANNED ACTIVITIES.1) THE TRUSTEE WILL SELECT A DEAN OF A COLLEGE, A PRIEST ORMINISTER, AND A RABBI WHOSE DUTY IT WILL BE TO SELECT WORTHYSTUDENTS TO RECEIVE SCHOLARSHIPS AWARDS AT COLLEGE ORGRADUATE LEVELS.2) THE AWARDS WILL BE PRESENTED TO STUDENTS SELECTED BY THECOMMITTEE AS A GIFT. THE AMOUNT OF EACH AWARD WILL BEDETERMINED BY THE COMMITTEE.3) THE TRUSTEE WILL DISTRIBUTE ANNUALLY NOT LESS THAN FIVEPERCENT OF THE PRINCIPAL FOR SCHOLARSHIP AWARDS, BUT HASDISCRETION TO DISTRIBUTE ADDITIONAL AM
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $94,968 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $20,736 |
| Capital Gain Net Income | $20,736 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $18,170 |
| Other Income | $0 |
| Total Revenue | $133,874 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,250 |
| 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 | $42 |
| Total operating and administrative expenses | $50,767 |
| Contributions, gifts, grants paid | $219,881 |
| Total expenses and disbursements | $270,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $350,164 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,713,737 |
| 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, Ethan Allen Brown Scholarship Fund has awarded $439,762 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
UMASS BOSTON PURPOSE: SCHOLARSHIP | $6,000 |
HOLY CROSS COLLEGE PURPOSE: SCHOLARSHIP | $2,000 |
UMASS DARTMOUTH PURPOSE: SCHOLARSHIP | $12,443 |
UNIVERSITY OF LOWELL PURPOSE: SCHOLARSHIP | $96,016 |
BUNKER HILL COMMUNITY COLLEGE PURPOSE: SCHOLARSHIP | $5,832 |
JOHN HOPKINS UNIVERSITY PURPOSE: SCHOLARSHIP | $8,000 |