The Rev Joseph Mcgarry Memorial Scholarship Trust
- Assets
- $1.3m
- Revenue
- $128.7k
- Investments
- $1.3m
- Employees
- 0
- Location
- Westerly, RI
- Founding
- 05/2014
- Data as of
- 12/2021
- EIN
- 45-5627488
Organization Overview
The Rev Joseph Mcgarry Memorial Scholarship Trust is located in Westerly, RI. The organization was established in 2014. 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. Rev Joseph Mcgarry Memorial Scholarship Trust 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, Rev Joseph Mcgarry Memorial Scholarship Trust generated $128.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $104.3k during the year ending 12/2021. While expenses have increased by 0.9% per year over the past 6 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $64,203 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $64,536 |
| Capital Gain Net Income | $64,536 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $128,739 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $256 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $126 |
| Total operating and administrative expenses | $44,284 |
| Contributions, gifts, grants paid | $60,000 |
| Total expenses and disbursements | $104,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $43,863 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,250,557 |
| 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
Catholic Schools Foundation Inc Boston, MA | $110,171,239 | $27,305,892 |
Laspau Inc Cambridge, MA | $9,172,350 | $9,862,515 |
The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |
Thrive Scholars Boston, MA | $14,006,320 | $13,719,971 |
Boston Latin School Association Boston, MA | $71,373,277 | -$8,021,699 |
Feigenbaum Foundation Inc Pittsfield, MA | $77,550,637 | $8,621,230 |