L Jean Wells And Jay S Wells Memorial Scholarship Fund
- Assets
- $270.0k
- Revenue
- $10.7k
- Investments
- $246.4k
- Employees
- 0
- Location
- Brockway, PA
- Founding
- 12/2010
- Data as of
- 12/2022
- EIN
- 27-0817751
Organization Overview
L Jean Wells And Jay S Wells Memorial Scholarship Fund is located in Brockway, PA. The organization was established in 2010. 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. L Jean Wells And Jay S Wells Memorial 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 12/2022, L Jean Wells And Jay S Wells Memorial Scholarship Fund generated $10.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $20.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (18.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, L Jean Wells And Jay S Wells Memorial Scholarship Fund has awarded 536 individual grants totaling $739,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Leo Ferraro Trustee | 0 | $1,200 | |
R Edward Ferraro Trustee | 0 | $1,200 | |
Stephen Zarlinski Trustee | 0 | $1,200 | |
Daniel Hawkins Trustee | 0 | $0 | |
Denise Carlini Trustee | 0 | $0 | |
Katie Bish Secretary | 0 | $2,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,824 |
| Dividends & Interest | $3,234 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,602 |
| Capital Gain Net Income | $2,602 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,660 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $195 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $8,452 |
| Contributions, gifts, grants paid | $12,000 |
| Total expenses and disbursements | $20,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,914 |
| Savings and temporary cash investments | $10,671 |
| 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 | $246,417 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $270,002 |
| 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, L Jean Wells And Jay S Wells Memorial Scholarship Fund has awarded $12,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
JEFFERY GINTHER PURPOSE: FOR HIGHER EDUCATION | $1,000 |
MATTHEW CLARK PURPOSE: FOR HIGHER EDUCATION | $1,000 |
ZANE PUHALA PURPOSE: FOR HIGHER EDUCATION | $1,000 |
SHAUGHNESSEA RICHARDSON PURPOSE: FOR HIGHER EDUCATION | $1,000 |
ALEXIS DUBAY PURPOSE: FOR HIGHER EDUCATION | $1,000 |
EMMA CAVALLINE PURPOSE: FOR HIGHER EDUCATION | $1,000 |