Samuel Ready Scholarships Inc
- Assets
- $18.4m
- Revenue
- $944.0k
- Investments
- $289.8k
- Employees
- 3
- Location
- Riderwood, MD
- Founding
- 08/1935
- Data as of
- 06/2022
- EIN
- 52-0591460
Organization Overview
Samuel Ready Scholarships Inc is located in Riderwood, MD. The organization was established in 1935. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Samuel Ready Scholarships Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Samuel Ready Scholarships Inc 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 06/2022, Samuel Ready Scholarships Inc generated $944.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $994.8k during the year ending 06/2022. While expenses have increased by 1.8% per year over the past 7 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.
Since 2016, Samuel Ready Scholarships Inc has awarded 42 individual grants totaling $4,898,000. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO GIVE ACADEMICALLY PROMISING GIRLS, WITH GREAT FINANCIAL NEED, ACCESS TO A BALTIMORE-AREA INDEPENDENT SCHOOL EDUCATION WITH OPPORTUNITIES TO DEVELOP AND EXCEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDING FOR BRYN MAWR SCHOOL FOR GIRLS, ROLAND PARK COUNTRY SCHOOL, FRIENDS SCHOOL OF BALTIMORE, ST. PAUL'S SCHOOL FOR GIRLS, GARRISON FOREST SCHOOL AND THE INSTITUTE OF NOTRE DAME FOR PROVIDING SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Amitin Director | Trustee | 1 | $0 |
Nancy Bell Director | Trustee | 1 | $0 |
Robbie Black Assistant Tr | OfficerTrustee | 5 | $0 |
Jennifer Byers Vice Preside | OfficerTrustee | 5 | $0 |
Teresa Burt Carnell President | OfficerTrustee | 5 | $0 |
Anne Powel Davis 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 | $375,381 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $375,381 |
| Total Program Service Revenue | $4,749 |
| Investment income | $616,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$52,862 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $944,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $780,885 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $52,300 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,217 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,813 |
| Fees for services: Accounting | $22,312 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,145 |
| Fees for services: Other | $6,810 |
| Advertising and promotion | $4,350 |
| Office expenses | $6,432 |
| Information technology | $660 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $633 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,448 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $344 |
| All other expenses | $2,254 |
| Total functional expenses | $994,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $293,520 |
| Savings and temporary cash investments | $576,988 |
| Pledges and grants receivable | $89,973 |
| 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 | $10,802 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $17,140,244 |
| Investments—other securities | $289,763 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,401,290 |
| Accounts payable and accrued expenses | $5,800 |
| 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 | $5,800 |
| Net assets without donor restrictions | $18,131,950 |
| Net assets with donor restrictions | $263,540 |
| 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 | $18,401,290 |
Grants Awarded
Over the last fiscal year, Samuel Ready Scholarships Inc has awarded $780,885 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE BRYN MAWR SCHOOL FOR GIRLS OFBALTIMORE CITY INC | | | $196,500 |
ROLAND PARK COUNTRY SCHOOL INC | | | $192,000 |
FRIENDS SCHOOL OF BALTIMORE INC | | | $120,720 |
ST PAUL'S SCHOOL FOR GIRLS INC | | | $116,750 |
INSTITUTE OF NOTRE DAME | | | $64,945 |
GARRISON FOREST SCHOOL INC | | | $89,970 |