Robert M Morand Scholarship Fund
- Assets
- $959.2k
- Revenue
- $33.2k
- Investments
- $954.2k
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 01/2015
- Data as of
- 12/2022
- 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 12/2022, Robert M Morand Scholarship Fund generated $33.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $54.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Robert M Morand Scholarship Fund has awarded 26 individual grants totaling $388,318. 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
2022
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 |
|---|---|---|---|
John P Morand President | 1 | $0 | |
Grace E Morand Vice President | 1 | $0 | |
Rosemary Morand Secretary/treasurer | 5 | $551 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $275 |
| Interest on Savings | $0 |
| Dividends & Interest | $32,933 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $28,718 |
| Net ST Capital Gain | $111 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $33,208 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $701 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $707 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $667 |
| Total operating and administrative expenses | $3,350 |
| Contributions, gifts, grants paid | $51,000 |
| Total expenses and disbursements | $54,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,740 |
| 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 | $260 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $954,180 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $959,180 |
| 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 $51,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CRISTO REY HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $17,000 |
LOYOLA HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $17,000 |
U OF D JESUIT HIGH SCHOOL PURPOSE: SCHOLARSHIPS | $17,000 |