M C Scholarship Foundation
- Assets
- $814.3k
- Revenue
- $89.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport, RI
- Founding
- Data as of
- 12/2021
- EIN
- 22-6078909
Organization Overview
M C Scholarship Foundation is located in Newport, RI. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. M C Scholarship 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, M C Scholarship Foundation generated $89.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.8% each year . All expenses for the organization totaled $61.5k during the year ending 12/2021. While expenses have increased by 0.2% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Bingham Trustee | 0.25 | $0 | |
Susan Daly Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3 |
| Dividends & Interest | $21,810 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $67,689 |
| Capital Gain Net Income | $67,689 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $89,502 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $514 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $14,510 |
| Contributions, gifts, grants paid | $47,000 |
| Total expenses and disbursements | $61,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $68,206 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $746,044 |
| Total assets | $814,250 |
| 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, M C Scholarship Foundation has awarded $47,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
MORANIAN ACADEMY UPPER SCHOOL PURPOSE: PROVIDE SCHOLARSHIPS | $11,750 |
YALE UNIVERSITY PURPOSE: PROVIDE SCHOLARSHIPS | $11,000 |
THE TAFT SCHOOL PURPOSE: PROVIDE SCHOLARSHIPS | $11,000 |
FLORIDA STATE COLLEGE OF JACKSONVIL PURPOSE: PROVIDE SCHOLARSHIPS | $3,500 |
Jacksonville, FL PURPOSE: PROVIDE SCHOLARSHIPS | $3,500 |
Jacksonville, FL PURPOSE: PROVIDE SCHOLARSHIPS | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
156 West 106th Street Holding Corp New York, NY | $627,698 | $10,000,000 |
The Childrens Community Programs Of Connecticut Inc New Haven, CT | $7,550,094 | $11,086,259 |
Hospice Care In The Berkshires Inc Pittsfield, MA | $16,662,591 | $10,823,109 |
Manhattan Country School Inc New York, NY | $44,093,729 | $11,269,443 |
Catholic Charities Of Fairfield Bridgeport, CT | $9,651,392 | $11,217,776 |
North Hills Country Club Inc Manhasset, NY | $8,665,701 | $10,144,490 |
Feinstein Health Fund Inc Hauppauge, NY | $26,525,981 | $4,778,709 |
Waterkeeper Alliance Inc New York, NY | $5,512,348 | $11,721,218 |
Westhampton Country Club Inc Westhampton Beach, NY | $23,462,713 | $10,560,693 |
Center Of Hope Foundation Incorporated Southbridge, MA | $12,255,535 | $11,027,836 |
American Yacht Club Rye, NY | $14,373,671 | $10,489,305 |
Central Queens Academy Charter School Elmhurst, NY | $14,405,586 | $12,175,425 |