Montclair Scholarship Fund Inc
- Assets
- $1.1m
- Revenue
- $451.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Montclair, NJ
- Founding
- 04/2016
- Data as of
- 08/2021
- EIN
- 22-6047818
Organization Overview
Montclair Scholarship Fund Inc is located in Montclair, NJ. The organization was established in 2016. According to its NTEE Classification (T30) the organization is classified as: Public 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. Montclair Scholarship Fund 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 08/2021, Montclair Scholarship Fund Inc generated $451.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $203.0k during the year ending 08/2021. While expenses have increased by 7.9% 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
THE ORGANIZATION AWARDS COLLEGE SCHOLARSHIPS TO COLLEGE-BOUND HIGH SCHOOL SENIORS WITH FINANCIAL NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGAINIZATION AWARDS SCHOLARSHIPS FOR COLLEGE TUITION, BOOKS AND SUPPLIES TO COLLEGE-BOUND HIGH SCHOOL SENIORS WITH FINANCIAL NEED.
THE ORGAINIZATION AWARDS SCHOLARSHIPS FOR COLLEGE TUITION, BOOKS AND SUPPLIES TO COLLEGE-BOUND HIGH SCHOOL SENIORS WITH FINANCIAL NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald A Fasanella Treasurer | OfficerTrustee | 5 | $0 |
Melissa Bigelow Secretary | OfficerTrustee | 3 | $0 |
Leeta Jordan Co-President | OfficerTrustee | 2 | $0 |
Mimi Wrede Co-President | OfficerTrustee | 2 | $0 |
Susann Connors Trustee | Trustee | 5 | $0 |
Kathleen Mcclearn Trustee | Trustee | 5 | $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 | $276,074 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,074 |
| Total Program Service Revenue | $0 |
| Investment income | $6,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $169,287 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $451,377 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $189,903 |
| 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 | $1,100 |
| 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 | $1,968 |
| Total functional expenses | $203,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,656 |
| Savings and temporary cash investments | $607,230 |
| 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 | $302,318 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,129,204 |
| 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 | $1,129,204 |
| 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 | $1,129,204 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Montclair Scholarship Fund Inc has recieved totaling $57,402.
| Awarding Organization | Amount |
|---|---|
Princeton Area Community Foundation Inc Lawrenceville, NJ PURPOSE: to provide resources directly to the Jack Crying R | $25,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: MATCHING GIFTS | $12,500 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $6,600 |
Mindful Breath Foundation Inc Montclair, NJ PURPOSE: COMMUNITY | $2,500 |
Tarverwalls Foundation Wilmington, DE PURPOSE: GARY F. WHITLOCK SCHOLARSHIP FUND | $2,000 |
Tarverwalls Foundation Wilmington, DE PURPOSE: ROBERT S. HURT SCHOLARSHIP FUND | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
American Friends Of B Nai Levy Foundation Brooklyn, NY | $493,786 | $13,431,000 |
Rf Catalytic Capital Inc New York, NY | $241,603,034 | $246,273,218 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |