Daniel Murphy Scholarship Fund
- Assets
- $11.8m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 22
- Location
- Chicago, IL
- Founding
- 06/1990
- Data as of
- 08/2023
- EIN
- 36-3675466
Organization Overview
Daniel Murphy Scholarship Fund is located in Chicago, IL. The organization was established in 1990. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 08/2023, Daniel Murphy Scholarship Fund employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Daniel Murphy 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 08/2023, Daniel Murphy Scholarship Fund generated $4.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $4.9m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE DANIEL MURPHY SCHOLARSHIP FUND IS TO GIVE HIGH SCHOOL SCHOLARSHIP ASSISTANCE AND EDUCATIONAL SUPPORT TO CHICAGO STUDENTS FROM ECONOMICALLY DISADVANTAGED BACKGROUNDS. THE FUND SEEKS TO MAKE A LIFE-ALTERING DIFFERENCE IN THE LIVES OF ITS SCHOLARS BY PROVIDING THEM WITH THE BEST OPPORTUNITY TO SUCCEED IN HIGH SCHOOL AND COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL ASSISTANCE - THE FUND PROVIDES SCHOLARSHIPS AND OTHER FINANCIAL SUPPORT TO ECONOMICALLY DISADVANTAGED CHICAGO AREA STUDENTS ALLOWING THEM TO ATTEND LEADING PRIVATE AND PAROCHIAL HIGH SCHOOLS IN THE CHICAGO AREA AND TOP BOARDING SCHOOLS ACROSS THE COUNTRY. DURING THE 2022/2023 AND 2021/2022 SCHOOL YEARS, THE FUND SERVED 442 AND 448 SCHOLARS, RESPECTIVELY.
OTHER:MENTORING - SCHOLARS WHO WISH TO PARTICIPATE ARE MATCHED WITH AN ADULT MENTOR FOR THEIR FOUR YEARS IN HIGH SCHOOL. THE FUND ALSO OPERATES AN AFFINITY PROGRAM, IN WHICH TEN TO FIFTEEN STUDENTS MEET EVERY OTHER WEEK WITH AN ADULT FACILITATOR TO DISCUSS ISSUES COMMON TO MANY OF THE SCHOLARS.TUTORING - THE FUND HELPS FIND AND FUND TUTORS FOR SCHOLARS WHOSE GPAS FALL BELOW 3.0 OR WHO SEEK ADDITIONAL HELP. THE FUND ALSO OPERATES A VIRTUAL TUTORING PLATFORM DURING THE SCHOOL YEAR.BRIDGE TO EXCELLENCE - THE FUND WORKS WITH LEAP! LEARNING SYSTEMS AND EDUCATIONAL ENDEAVORS TO PROVIDE TWO WEEKS OF MANDATORY CLASSES FOR ALL INCOMING FRESHMAN SCHOLARS, FOCUSING ON LANGUAGE SKILLS, TIME MANAGEMENTS, STUDY SKILLS AND CRITICAL THINKING.
COLLEGE COUNSELING - THE FUND WORKS WITH SCHOLARS THROUGHOUT THEIR FOUR YEARS IN HIGH SCHOOL AND MOST INTENSIVELY IN THEIR JUNIOR AND SENIOR YEARS, ASSISTING THE SCHOLARS AS THEY SEARCH FOR AN APPROPRIATE COLLEGE AND FOR FUNDING TO HELP PAY FOR THAT COLLEGE.
SUMMER OPPORTUNITIES, INCLUDING THE CADDIE PROGRAM - THE OBJECTIVE OF THE SUMMER OPPORTUNITIES PROGRAM IS TO PRESENT SCHOLARS WITH SUMMER JOB OPPORTUNITIES, INTERNSHIPS, CULTURAL AND STUDY ABROAD PROGRAMS, SPORTS PROGRAMS AND COMMUNITY SERVICE PROGRAMS. AS PART OF THE SUMMER OPPORTUNITIES PROGRAM, THE FUND PROVIDES SUMMER GOLF CADDIE EMPLOYMENT OPPORTUNITIES FOR SCHOLARS. SCHOLARS CADDIE AT NEARBY COUNTRY CLUBS, EARNING INCOME, GAINING WORK EXPERIENCE AND DEVELOPING LIFE SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Ferguson Chair | OfficerTrustee | 5 | $0 |
Mary Jo Demaio Vice Chair | OfficerTrustee | 5 | $0 |
Molly Carroll Secretary | OfficerTrustee | 5 | $0 |
Rocky Lopez Treasurer | OfficerTrustee | 5 | $0 |
Olivia Carberry Board Member | Trustee | 5 | $0 |
Wheeler Coleman Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,288,964 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,005,181 |
| Noncash contributions included in lines 1a–1f | $253,249 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,294,145 |
| Total Program Service Revenue | $0 |
| Investment income | $211,138 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$13,981 |
| Net Income from Fundraising Events | -$327,718 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,167,481 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,899,002 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $214,450 |
| Compensation of current officers, directors, key employees. | $35,891 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,117,892 |
| Pension plan accruals and contributions | $19,033 |
| Other employee benefits | $71,042 |
| Payroll taxes | $114,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $72,278 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,402 |
| Fees for services: Other | $316,364 |
| Advertising and promotion | $139,884 |
| Office expenses | $195,937 |
| Information technology | $66,418 |
| Royalties | $0 |
| Occupancy | $250,867 |
| Travel | $107,965 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $90,660 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,459 |
| Insurance | $26,898 |
| All other expenses | $0 |
| Total functional expenses | $4,893,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $800 |
| Savings and temporary cash investments | $775,310 |
| Pledges and grants receivable | $561,089 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45,318 |
| Net Land, buildings, and equipment | $56,128 |
| Investments—publicly traded securities | $9,958,781 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $418,726 |
| Total assets | $11,816,152 |
| Accounts payable and accrued expenses | $169,147 |
| Grants payable | $1,834,900 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $442,837 |
| Total liabilities | $2,446,884 |
| Net assets without donor restrictions | $6,765,122 |
| Net assets with donor restrictions | $2,604,146 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,816,152 |