The Quincy College Trust Incorporated
- Assets
- $1.1m
- Revenue
- $19.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Quincy, MA
- Founding
- 11/2006
- Data as of
- 12/2021
- EIN
- 51-0579620
Organization Overview
The Quincy College Trust Incorporated is located in Quincy, MA. The organization was established in 2006. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Quincy College Trust Incorporated 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, Quincy College Trust Incorporated generated $19.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $11.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT THE MISSION, OPERATIONS AND STUDENTS, OF QUINCY COLLEGE AND OTHER COLLEGES, SPECIFICALLY BY RAISING FUNDS TO PROVIDE GRANTS AND SCHOLARSHIPS FOR STUDENTS OF QUINCY COLLEGE AND A LIMITED NUMBER OF OTHER COLLEGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED SEVERAL SCHOLARSHIPS FOR 4,900 OF SUPPORT TO COLLEGE STUDENTS. WHILE PROVIDING THOSE CURRENT YEAR SCHOLARSHIPS, THE SCHOLARSHIP FUND BALANCES GREW MORE THAN 55,000 WHICH WILL PROVIDE A FOUNDATION FOR EITHER MORE OR LARGER DOLLAR GRANTS AND SCHOLARSHIPS IN THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Campbell Director/pre | OfficerTrustee | 1.5 | $0 |
Gary Wallrapp Director/sec | OfficerTrustee | 1.5 | $0 |
Barbara Clarke Director | Trustee | 1 | $0 |
Steve Dooner Director | Trustee | 1 | $0 |
Dr Richard Pitts Director | Trustee | 1 | $0 |
Gail Samaha Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,973 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,973 |
| Total Program Service Revenue | $0 |
| Investment income | $7,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,485 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,616 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,900 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,876 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,329 |
| All other expenses | $0 |
| Total functional expenses | $11,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,579 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $832,839 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,081,418 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $387,213 |
| Net assets with donor restrictions | $694,205 |
| 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 | $1,081,418 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Quincy College Trust Incorporated has recieved totaling $10,399.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Plymouth County Inc Brockton, MA PURPOSE: ADDRESS TARGETED NEEDS | $8,399 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University At Albany Foundation Albany, NY | $129,210,800 | $17,198,773 |
Trustees Of The Public Library Of The City Of Boston Boston, MA | $99,754,907 | $16,249,859 |
Lord Foundation Of Massachusetts Inc Cambridge, MA | $0 | $665,000 |
Queens College Foundation Inc Flushing, NY | $103,882,868 | $13,972,395 |
Threefold Educational Foundation & School Chestnut Ridge, NY | $15,163,557 | $9,817,859 |
Global Community Charter School New York, NY | $4,753,919 | $12,397,044 |
Mit International Inc Cambridge, MA | $42,886,000 | $6,428,000 |
Rit Global Delivery Corporation Rochester, NY | $10,659,016 | $9,744,189 |
Concord Consortium Inc Concord, MA | $4,473,971 | $11,489,391 |
Charles E Cotting Charitable Corp Boston, MA | $113,711,021 | $14,477,400 |
The Graduate Center Foundation Inc New York, NY | $72,994,369 | $16,026,752 |
Friends Of Mcgill University Inc New Rochelle, NY | $10,774,766 | $8,029,117 |