Clement F Malovey Educational Scholarship Fund
- Assets
- $1.6m
- Revenue
- $41.5k
- Investments
- $1.5m
- Employees
- 0
- Location
- Coldwater, MI
- Founding
- 11/2009
- Data as of
- 12/2023
- EIN
- 38-3804156
Organization Overview
Clement F Malovey Educational Scholarship Fund is located in Coldwater, MI. The organization was established in 2009. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clement F Malovey Educational 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, Clement F Malovey Educational Scholarship Fund generated $41.5k 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 (40.1%) each year. All expenses for the organization totaled $135.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Clement F Malovey Educational Scholarship Fund has awarded 100 individual grants totaling $225,050. 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
52 COLLEGE SCHOLARSHIPS ISSUED TO BRANCH COUNTY MI HIGH SCHOOL GRADUATES
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,891 |
| Dividends & Interest | $46,128 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$13,579 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,038 |
| Total Revenue | $41,478 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,963 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20 |
| Total operating and administrative expenses | $16,283 |
| Contributions, gifts, grants paid | $119,250 |
| Total expenses and disbursements | $135,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $118,906 |
| 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 | $51,955 |
| Total assets | $1,630,174 |
| 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, Clement F Malovey Educational Scholarship Fund has awarded $119,250 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
ALISON FISH PURPOSE: EDUCATION | $2,000 |
JACOB REIF PURPOSE: EDUCATION | $2,500 |
JAELYN HANDY PURPOSE: EDUCATION | $2,250 |
MICHAEL RICHER PURPOSE: EDUCATION | $2,000 |
MALEK ABDULLA PURPOSE: EDUCATION | $2,500 |
PAIGE ROUSSEY PURPOSE: EDUCATION | $2,500 |