Colleen E Ritzer Memorial Fund Inc
- Assets
- $1.7m
- Revenue
- $611.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Andover, MA
- Founding
- Data as of
- 09/2023
- EIN
- 85-0659010
Organization Overview
Colleen E Ritzer Memorial Fund Inc is located in Andover, MA. 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. Colleen E Ritzer Memorial Fund 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 09/2023, Colleen E Ritzer Memorial Fund Inc generated $611.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (21.1%) each year. All expenses for the organization totaled $104.4k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COLLEEN E. RITZER MEMORIAL FUND FOSTERS A SOCIETY OF COMPASSION WITH KINDNESS AS A MOTIVATING INFLUENCE IN ALL ITS ENDEAVORS. RENOWNED FOR HER KINDNESS, ZEAL FOR LIFE, TEACHING, AND LOVE OF FAMILY, THE ORGANIZATION EMULATES COLLEEN'S COMPASSION THROUGH SCHOLARSHIPS, GRANTS AND OTHER PROGRAMS WITH KINDNESS AND EDUCATION AT THEIR CORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HOLDS AN ANNUAL 5K, THE STEP UP FOR COLLEEN 5K. IN ADDITION IN CONJUNCTION WITH THE 5K FLOWERS ARE SOLD TO RAISE FUNDS. THE PROCEEDS ARE USED TO PROVIDE COLLEGE SCHOLARSHIPS TO GRADUATING ANDOVER AND DANVERS HIGH SCHOOL STUDENTS WHO WILL EITHER BE PURSUING A DEGREE IN EDUCATION TO BE A TEACHER OR STUDENTS WHO HAD AN OUTSTANDING COMMITTMENT TO DOING GOOD IN THEIR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peggie L Ritzer President | OfficerTrustee | 10 | $0 |
Thomas P Ritzer V.P. And Clerk | OfficerTrustee | 1 | $0 |
Michael K Guilfoyle Treasurer | OfficerTrustee | 1 | $0 |
Julie Viola Director | Trustee | 1 | $0 |
Dwight Feeney Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $81,746 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $428,026 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $509,772 |
| Total Program Service Revenue | $0 |
| Investment income | $39,287 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,301 |
| Net Income from Fundraising Events | $22,475 |
| Net Income from Gaming Activities | $21,299 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $611,134 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $78,291 |
| 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 | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $181 |
| Office expenses | $3,181 |
| 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 | $453 |
| Insurance | $1,093 |
| All other expenses | $3,703 |
| Total functional expenses | $104,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $961,135 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,575 |
| 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 | $1,541 |
| Investments—publicly traded securities | $708,157 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,678,408 |
| 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 | $1,012,936 |
| Net assets with donor restrictions | $665,472 |
| 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 | $1,678,408 |