Albert D Hermance Scholarship Tr
- Assets
- $1.2m
- Revenue
- $120.1k
- Investments
- $1.2m
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 10/1991
- Data as of
- 12/2021
- EIN
- 23-7678037
Organization Overview
Albert D Hermance Scholarship Tr is located in Buffalo, NY. The organization was established in 1991. 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. Albert D Hermance Scholarship Tr 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, Albert D Hermance Scholarship Tr generated $120.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $103.4k during the year ending 12/2021. While expenses have increased by 2.7% 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.
Since 2020, Albert D Hermance Scholarship Tr has awarded 102 individual grants totaling $217,250. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $29,981 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $90,105 |
| Capital Gain Net Income | $90,105 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $120,086 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $19,835 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,797 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $24,132 |
| Contributions, gifts, grants paid | $79,250 |
| Total expenses and disbursements | $103,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $17,456 |
| 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 | $1,214,996 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,232,452 |
| 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, Albert D Hermance Scholarship Tr has awarded $77,750 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
PENNSLYVANIA STATE UNIVERSITY PURPOSE: EDUCATION | $15,750 |
PENNSYLVANIA COLLEGE OF PURPOSE: SCHOLARSHIP | $6,000 |
DUQUESNE UNIVERSITY PURPOSE: SCHOLARSHIP | $4,000 |
Rochester, NY PURPOSE: SCHOLARSHIP | $4,000 |
Bethlehem, PA PURPOSE: EDUCATION | $4,000 |
Elizabethtown, PA PURPOSE: SCHOLARSHIP AWARDS FOR | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |