Urho And Dagny Nykanen Scholarship Fund
- Assets
- $115.4k
- Revenue
- $9.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Gardner, MA
- Founding
- 05/2009
- Data as of
- 12/2023
- EIN
- 26-6618667
Organization Overview
Urho And Dagny Nykanen Scholarship Fund is located in Gardner, MA. The organization was established in 2009. 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. Urho And Dagny Nykanen Scholarship Fund 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 12/2023, Urho And Dagny Nykanen Scholarship Fund generated $9.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $12.0k during the year ending 12/2023. While expenses have increased by 8.5% per year over the past 8 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOLARSHIP FUND WAS SET UP UNDER THE WILL OF DAGNY NYKANEN. THE SCHOLARSHIP WAS FUNDED IN LATE 2008 AND BEGAN OPERATIONS IN 2009. DAGNY NYKANEN DIED ON DECEMBER 15, 2007. THE SCHOLARSHIP FUND GRANTED A SCHOLARSHIP TO ONE INDIVIDUAL WITH TWO PAYMENTS OF $5,000 EACH IN JULY AND DECEMBER IN 2023.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,401 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,883 |
| Capital Gain Net Income | $5,883 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,284 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $134 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $58 |
| Total operating and administrative expenses | $1,992 |
| Contributions, gifts, grants paid | $10,000 |
| Total expenses and disbursements | $11,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,269 |
| Savings and temporary cash investments | $0 |
| 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 | $111,170 |
| Total assets | $115,439 |
| 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, Urho And Dagny Nykanen Scholarship Fund has awarded $6,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TYLER RICHARDS PURPOSE: SCHOLARSHIP | $3,000 |
HANNAH HOOVER KUEHL PURPOSE: SCHOLARSHIP | $3,000 |