Atlantic County Medical Society Scholarship Corporation
- Assets
- $331.3k
- Revenue
- $11.5k
- Investments
- $321.1k
- Employees
- 0
- Location
- Somers Point, NJ
- Founding
- 06/1969
- Data as of
- 04/2023
- EIN
- 23-7024987
Organization Overview
Atlantic County Medical Society Scholarship Corporation is located in Somers Point, NJ. The organization was established in 1969. 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. Atlantic County Medical Society Scholarship Corporation 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 04/2023, Atlantic County Medical Society Scholarship Corporation generated $11.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.6%) each year. All expenses for the organization totaled $48.8k during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Atlantic County Medical Society Scholarship Corporation has awarded 39 individual grants totaling $129,500. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES EDUCATIONAL SCHOLARSHIPS FOR NEEDY MEDICAL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Dierkes President | 2.5 | $0 | |
Zubair Syed Vice President | 2.5 | $0 | |
Lisa Dierkes Executive Director | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $208 |
| Dividends & Interest | $8,991 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,280 |
| Capital Gain Net Income | $2,280 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,479 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $26 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,531 |
| Total operating and administrative expenses | $16,760 |
| Contributions, gifts, grants paid | $32,000 |
| Total expenses and disbursements | $48,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,980 |
| Savings and temporary cash investments | $1,868 |
| 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 | $321,126 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $276 |
| Total assets | $331,250 |
| 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, Atlantic County Medical Society Scholarship Corporation has awarded $32,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ARJUN MATHUR PURPOSE: SCHOLARSHIP | $4,000 |
DANIEL ROQUE PURPOSE: SCHOLARSHIP | $5,000 |
JENNAH SYED PURPOSE: SCHOLARSHIP | $3,000 |
JOHN PATRICK MARCZYK PURPOSE: SCHOLARSHIP | $10,000 |
MILLIE SHAH PURPOSE: SCHOLARSHIP | $7,500 |
WILHEMINA AMELIA KENNEDY PURPOSE: SCHOLARSHIP | $2,500 |