Freeport High School Scholarship Foundation
- Assets
- $1.0m
- Revenue
- $272.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Freeport, ME
- Founding
- Data as of
- 12/2022
- EIN
- 86-2719897
Organization Overview
Freeport High School Scholarship Foundation is located in Freeport, ME. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freeport High School Scholarship Foundation 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, Freeport High School Scholarship Foundation generated $272.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (39.1%) each year. All expenses for the organization totaled $12.5k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SCHOLARSHIPS FOR STUDENTS GRADUATING FROM FREEPORT HIGH SCHOOL IN FREEPORT, MAINE TO PURSUE POST-SECONDARY EDUCATION. GOAL IS TO PROVIDE UP TO 4 STUDENTS PER YEAR WITH SCHOLARSHIP ASSISTANCE EQUAL TO $5,000 PER YEAR FOR UP TO 4 YEARS TO ATTEND 4 YEAR COLLEGE AND 4 STUDENTS PER YEAR WITH SCHOLARSHIP ASSISTANCE EQUAL TO$4,000 PER YEAR FOR UP TO 2 YEARS TO ATTEND TECHNICAL SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS FOR STUDENTS GRADUATING FROM FREEPORT HIGH SCHOOL IN FREEPORT, MAINE TO PURSUE POST-SECONDARY EDUCATION. GOAL IS TO PROVIDE UP TO 4 STUDENTS PER YEAR WITH SCHOLARSHIP ASSISTANCE EQUAL TO $5,000 PER YEAR FOR UP TO 4 YEARS TO ATTEND 4 YEAR COLLEGE AND 4 STUDENTS PER YEAR WITH SCHOLARSHIP ASSISTANCE EQUAL TO$4,000 PER YEAR FOR UP TO 2 YEARS TO ATTEND TECHNICAL SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Paterson President | OfficerTrustee | 10 | $0 |
Frederick Palmer Vice President | OfficerTrustee | 8 | $0 |
Warren Graver Treasurer | OfficerTrustee | 5 | $0 |
Stephanie Paine Director | Trustee | 5 | $0 |
Kimberly Wing Director | Trustee | 3 | $0 |
Jennifer Fox Director | Trustee | 3 | $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 | $261,474 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $261,474 |
| Total Program Service Revenue | $0 |
| Investment income | $11,240 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $272,714 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,800 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,570 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $110 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,220 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $161,000 |
| 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 | $749,822 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,049,042 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $161,000 |
| 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 | $161,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $888,042 |
| Total liabilities and net assets/fund balances | $1,049,042 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Freeport High School Scholarship Foundation has recieved totaling $7,750.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $7,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hospice Care In The Berkshires Inc Pittsfield, MA | $16,662,591 | $10,823,109 |
Center Of Hope Foundation Incorporated Southbridge, MA | $12,255,535 | $11,027,836 |
Northern Maine General Eagle Lake, ME | $10,507,292 | $9,847,119 |
Little Peoples School Inc West Newton, MA | $3,783,797 | $9,734,167 |
Lovin Spoonfuls Inc Newton, MA | $3,214,196 | $11,326,279 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |
Richard K Lubin Family Foundation Boston, MA | $152,996,918 | $13,537,947 |
Icatholic Media Inc Watertown, MA | $61,629,216 | $14,295,555 |
Chs Of Waltham Inc Waltham, MA | $8,156,502 | $8,981,090 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Madonna Manor Inc North Attleboro, MA | $3,390,766 | $9,186,999 |
Penobscot Bay Physicians & Assoc Belfast, ME | $0 | $9,876,122 |