Robert M Morand Scholarship Fund
- Assets
- $951.5k
- Revenue
- $32.1k
- Investments
- $947.0k
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 01/2015
- Data as of
- 12/2021
- EIN
- 46-3200516
Organization Overview
Robert M Morand Scholarship Fund is located in Bloomfield Hills, MI. The organization was established in 2015. 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. Robert M Morand 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 12/2021, Robert M Morand Scholarship Fund generated $32.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $51.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Robert M Morand Scholarship Fund has awarded 23 individual grants totaling $337,318. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO SCHOOLS WHO WILL IN TURN PROVIDE SCHOLARSHIPS TO CHILDREN WHO RESIDE IN THE CITY OF DETROIT AND ARE CURRENTLY ENROLLED OR ACCEPTED FOR ENROLLMENT AT A CATHOLIC HIGH SCHOOL IN THE CITY OF DETROIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosemary Morand Secretary/treasurer | 5 | $381 | |
Grace E Morand Vice President | 1 | $0 | |
John P Morand President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,271 |
| Interest on Savings | $0 |
| Dividends & Interest | $30,871 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $14,021 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $32,142 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $381 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $878 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $818 |
| Total operating and administrative expenses | $3,327 |
| Contributions, gifts, grants paid | $48,000 |
| Total expenses and disbursements | $51,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,108 |
| 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 | $455 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $946,962 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $951,525 |
| 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, Robert M Morand Scholarship Fund has awarded $48,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CRISTO REY HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $16,000 |
LOYOLA HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $16,000 |
U OF D JESUIT HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $16,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |
The Endowment Fund Of The Phi Kappa Psi Fraternity Indianapolis, IN | $26,119,752 | $5,253,152 |
Beta Theta Pi Foundation Oxford, OH | $33,085,697 | $6,703,723 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |
Cardinal Health Foundation Dublin, OH | $40,394,329 | $2,713,784 |
Herb Kohl Educational Foundation Inc Milwaukee, WI | $133,385 | $3,506,418 |
Say Yes Cleveland Scholarship Inc Cleveland, OH | $89,649,014 | $4,775,644 |
Ab Nicholas Scholarship Foundation Mequon, WI | $58,753,687 | $6,013,180 |
John F And Edith L Wilsterman Foundation Flushing, MI | $43,019,363 | $3,159,735 |