James B Lee Jr Scholarship And Relief Fund In Honor Of Joseph
- Assets
- $3.0m
- Revenue
- $584.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Southampton, NY
- Founding
- 09/2006
- Data as of
- 10/2023
- EIN
- 20-5269657
Organization Overview
James B Lee Jr Scholarship And Relief Fund In Honor Of Joseph is located in Southampton, NY. The organization was established in 2006. 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. James B Lee Jr Scholarship And Relief Fund In Honor Of Joseph 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 10/2023, James B Lee Jr Scholarship And Relief Fund In Honor Of Joseph generated $584.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $465.5k during the year ending 10/2023. While expenses have increased by 12.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER CHARITABLE AND EDUCATIONAL PURPOSES BY PROVIDING SCHOLARSHIPS TO INDIVIDUALS FOR STUDY AT A COLLEGE, UNIVERSITY OR VOCATIONAL SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SCHOLARSHIPS TO INDIVIDUALS FOR STUDY AT A COLLEGE, UNIVERSITY OR VOCATIONAL SCHOOL.
THE MCBRIDE HARDSHIP RELIEF FUND (THE "PROGRAM") IS A PROGRAM OF THE JAMES B. LEE, JR. SCHOLARSHIP AND RELIEF FUND IN HONOR OF JOSEPH A. MCBRIDE (THE "FUND") AND HAS BEEN FORMED TO PROVIDE HARDSHIP GRANTS TO NEEDY INDIVIDUALS WHO REQUIRE FINANCIAL ASSISTANCE AS A RESULT OF SUDDEN OR OVERWHELMING HARDSHIP SITUATIONS BEYOND THEIR CONTROL.GRANTS MAY BE USED TO PAY FOR EXPENSES SUCH AS BASIC LIVING EXPENSES (E.G., RENT, MORTGAGE, ESSENTIAL UTILITIES, AND FOOD) AND MEDICAL EXPENSES, BUT ONLY TO THE EXTENT THAT SUCH EXPENSES ARE NOT COVERED BY INSURANCE OR BY FINANCIAL ASSISTANCE FROM OTHER NON-PROFIT ORGANIZATIONS OR GOVERNMENT AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael X Mcbride President & Director | OfficerTrustee | 1 | $0 |
Winston W Hutchins Secretary/treasurer & Dir. | OfficerTrustee | 1 | $0 |
Richard R Plum Director | Trustee | 1 | $0 |
James B Lee III Director | Trustee | 1 | $0 |
Paul Ellwood 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 | $506,442 |
| Noncash contributions included in lines 1a–1f | $19,679 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $506,442 |
| Total Program Service Revenue | $0 |
| Investment income | $108,066 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,050 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $584,458 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $444,000 |
| 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 | $6,900 |
| 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 | $3,722 |
| All other expenses | $872 |
| Total functional expenses | $465,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $161,129 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,010 |
| 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 | $2,829,860 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,001,999 |
| Accounts payable and accrued expenses | $6,701 |
| 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 | $6,701 |
| Net assets without donor restrictions | $2,995,298 |
| 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 | $3,001,999 |