Lt Michael P Murphy Usn Memorial Scholarship Foundation
- Assets
- $989.9k
- Revenue
- $240.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Riverhead, NY
- Founding
- 04/2006
- Data as of
- 12/2021
- EIN
- 16-1730124
Organization Overview
Lt Michael P Murphy Usn Memorial Scholarship Foundation, operating under the name Foundation, is located in Riverhead, NY. The organization was established in 2006. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. 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, Foundation generated $240.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $175.7k during the year ending 12/2021. 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 EDUCATIONAL ASSISTANCE THROUGH SCHOLORSHIPS AND GRANTS TO OUR WOUNDED WARRIORS, NAVY SEALS, CREW AND DEPENDENTS OF THE USS MICHAEL MURPHY DDG-112, MICHAELSS ALMA MATERS, PENN STATE PATCHOGUE-MEDFORD HIGH
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAVY SEAL LT MICHAEL P MURPHY ALMA MATER PENN STATE OFFERING TH NAVY SEAL LT MICHAEL P MURPHY SCHOLORSHIP AWARDS THROUG HTHE UNIVERSITY SELECTION PROCESS. MICHAEL IS LISTED AS A DISTINGUSHED PENN STATE GRADUATE AND THERE IS A MONUMENT TO HIM IN THE CENTER OF CAMPUS OF PENN STATE AT IT MAIN CAMPUS IN UNIVERSITY PARK
PROGRAM GRANT TO THE LT MICHAEL P MURPHY SEAL MUSEAM/SEA CADET TRAINING FACILITY TO PROMOTE NAVAL SPECIAL WARFARES HISTORY AND LEGACY FROM THE WORLD WAR II UNDERWATER DEMOILTION TEAMS TO THE PRESENT DAY WAR ON TERRO INCLUDING A DEDICATED EXIHBITION HALL TO LT MURPHYS SEAL TEAM SDVT01 AND THE BATTLE OF OPERATION REDWINGS. THIS DUAL PURPOSE BUILDING ALSO HOUSES THE SEA CADET TRAINING FACILITY TO TEACH LEADERSHIP SKILLS TO OUR FUTURE LEADERS IN THE UNITED STATES SEA CADET CORPS INCLUDING HOUSING THE LT MICHAEL P MURPHY SEA CADET DIVISION WHICH IS A 501C3 NON PROFIT CHARITY
FUNDING PROVIDED FOR 4 PATCHOGUE MEDFORD HIGH SCHOOL MICHAELS ALMA MATER SCHOLORSHIP AWARDS OF 5,000 EACH YEAR FOR 4 YEARS OF COLLEGE. THIS SCHOLORSHIP AWARD IS OFFERED EACH YEAR TO ONE GRADUATING STUDENT TOTALING 20,000 OVER 4 YEARS IN INCRAMENTS OF 5,000 A YEAR. THE SVHOLORSHIP FOUNDATION NOW FUNDS 4 GRADUATING SENIORS NOW ATTENDING COLLEGE IN THE FRESHMAN, SOPHMORE, JUNIOR AND SENIOR YEAR. THE FOUNDATION ASLO FUNDS A MATCHING 500 SCHOLORSHIP WITH PATCHOGUE MEDFORD HIGH SCHOOL WHICH TOTAL 1,000 STARTED BY A TEACH AT THE HIGH SCHOOL MS ALICIA CONWAY WHO ATTENDED PATCHOGUE MEDFORD HIGH SCHOOL WITH MICHAEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel J Murphy Chairman, Board Of Directors | Trustee | 5 | $0 |
John D Murphy Scholorship Committee Member | Trustee | 2 | $0 |
Maureen T Murphy Committee Member | Trustee | 1 | $0 |
Dee Wise Heinz Scholorship Committee Member | Trustee | 5 | $0 |
Kristen M Bishop Scholorship Committee Member | Trustee | 2 | $0 |
Maureen P Boganshulz Committee Member | 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 | $227,393 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $227,393 |
| Total Program Service Revenue | $0 |
| Investment income | $13,384 |
| 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 | $240,777 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $175,275 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $175,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $989,905 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $989,905 |
| 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 | $0 |
| Net assets with donor restrictions | $989,905 |
| 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 | $989,905 |
Grants Awarded
Over the last fiscal year, Lt Michael P Murphy Usn Memorial Scholarship Foundation has awarded $75,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: SCHOLORSHIPS NROTC | $25,000 |
PENN STATE UNIVERSITY PURPOSE: SCHOLORSHIP | $25,000 |
West Sayville, NY PURPOSE: SEAL MUSEAM SUPPORT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lt Michael P Murphy Usn Memorial Scholarship Foundation has recieved totaling $2,801.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $2,801 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For Public Schools Inc New York, NY | $69,123,846 | $27,701,638 |
National Collegiate Inventors & Innovators Alliance Hadley, MA | $19,763,432 | $45,805,073 |
Ernst & Young Foundation New York, NY | $39,971,970 | $27,635,064 |
Kipp New York Inc New York, NY | $134,718,837 | $36,118,873 |
Nellie Mae Education Foundation Inc Quincy, MA | $585,493,964 | $94,584,276 |
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |