Mv Vision Fellowship Fund
- Assets
- $8.2m
- Revenue
- $1.0m
- Investments
- $6.7m
- Employees
- 2
- Location
- Armonk, NY
- Founding
- 05/2002
- Data as of
- 12/2021
- EIN
- 13-4200820
Organization Overview
Mv Vision Fellowship Fund is located in Armonk, NY. The organization was established in 2002. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Mv Vision Fellowship Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mv Vision Fellowship 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 12/2021, Mv Vision Fellowship Fund generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 0.5% 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.
Since 2014, Mv Vision Fellowship Fund has awarded 46 individual grants totaling $3,021,605. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE PHILIP EVANS SCHOLARSHIP FOUNDATION IS TO PROVIDE AN EXTRAORDINARY HIGHER EDUCATION FOR SELECTED SCHOLARS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DESCRIPTION: MARTHA'S VINEYARD VISION FELLOWSHIPIN 2021, THE PHILIP EVANS SCHOLARSHIP FOUNDATION SUPPORTED 26 INDIVIDUALS FROM MARTHA'S VINEYARD WORKING IN FIELDS RELATED TO SUSTAINABILITY ON THE ISLAND THROUGH THE MARTHA'S VINEYARD VISION FELLOWSHIP. THE FELLOWSHIP PROVIDED TUITION, ROOM AND BOARD, COMPUTERS AND OPPORTUNITY GRANTS FOR INDIVIDUALS IN UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS AND PROVIDED FUNDS FOR CAREER ENHANCEMENT ACTIVITIES FOR PROFESSIONALS IN NON-DEGREE PROGRAMS. NEW VISION FELLOWS WERE INTERVIEWED AND SELECTED IN MARCH. SINCE JANUARY 1, 2014 AN ON-ISLAND PROGRAM OFFICER HAS MANAGED THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Magnone Sect'y/treas. | OfficerTrustee | 1 | $0 |
Nancy Mccabe President | OfficerTrustee | 4 | $0 |
Nancy S Kohlberg Chairman | OfficerTrustee | 1 | $0 |
Karen K Davis 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 | $450,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $450,000 |
| Total Program Service Revenue | $0 |
| Investment income | $115,821 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $462,679 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,007,619 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $508,077 |
| Grants and other assistance to domestic individuals. | $556,766 |
| 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 | $116,356 |
| Pension plan accruals and contributions | $9,551 |
| Other employee benefits | $1,782 |
| Payroll taxes | $10,186 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,041 |
| Advertising and promotion | $160 |
| Office expenses | $5,315 |
| Information technology | $1,490 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $955 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $673 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $636 |
| Insurance | $9,212 |
| All other expenses | $0 |
| Total functional expenses | $1,258,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,327 |
| Savings and temporary cash investments | $1,435,009 |
| Pledges and grants receivable | $21,936 |
| 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 | $498 |
| Net Land, buildings, and equipment | $1,680 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,658,347 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,195,797 |
| Accounts payable and accrued expenses | $17,588 |
| 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 | $17,588 |
| Net assets without donor restrictions | $8,178,209 |
| 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 | $8,195,797 |
Grants Awarded
Over the last fiscal year, Mv Vision Fellowship Fund has awarded $508,077 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Vineyard Haven, MA PURPOSE: COMPOSTING PROJECT | $82,000 |
Vineyard Haven, MA PURPOSE: ICAN FILM PROJECT | $76,750 |
Vineyard Haven, MA PURPOSE: EARLY CHILDHOOD COORDINATOR PROJECT | $68,000 |
Vineyard Haven, MA PURPOSE: NATURAL NEIGHBORS PROJECT | $67,388 |
Vineyard Haven, MA PURPOSE: GRANTS FOR COMPOSTING PROJECT | $55,200 |
MARTHA'S VINEYARD PUBLIC SCHOOL PURPOSE: MULTI-TIERED SYSTEM OF CARE MV PUBLIC SCHOOLS PROJECT. | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mv Vision Fellowship Fund has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |
Tikvah Fund New York, NY | $103,047,859 | $6,270,985 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Echoing Green Inc New York, NY | $60,744,468 | $19,754,073 |
Partnership For Ed Advancement Inc New York, NY | $36,194,552 | $41,198,488 |
Alavi Foundation New York, NY | $64,468,510 | $30,201,673 |
Children Scholarship Fund Philadelphia Philadelphia, PA | $24,817,690 | $13,351,193 |
Foundation For Jewish Day Schools Of Greater Philadelphia Philadelphia, PA | $5,671,351 | $11,978,701 |
Uncommon Lender Inc New York, NY | $174,239,408 | $12,168,791 |
Family Enrichment Network Inc Johnson City, NY | $8,020,609 | $12,621,621 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |