Civic Intelligence

Walpole Scholarship Foundation Inc.

990 • Fiscal year 2020 • EIN 04-2794495

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 03, 2021

Organization Profilewww.walpolescholarshipfoundation.org
1 Homeward LaneWalpole, MA 02081-2239

(508) 245-5799

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

16th percentile

0.00x

Higher debt load relative to revenue than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

97th percentile

86%

Higher net margin than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

42nd percentile

2.8%

Faster asset growth than 42% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

711%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$4,401,327

Up $121,941 (+2.8%) from 2019

Net Assets

Up

$4,400,869

Up $135,483 (+3.2%) from 2019

Liabilities

Down

$458

Down $13,542 (-97%) from 2019

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin97th percentile

Revenue

Up

$1,732,782

Up $1,519,089 (+711%) from 2019

Expenses

Up

$237,936

Up $4,082 (+1.7%) from 2019

Net Income

Up

$1,494,846

Up $1,515,007 (+7515%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $2,072,486Liabilities 2010: $32Net Assets 2010: $2,072,4542010Assets 2011: $2,381,547Liabilities 2011: $467Net Assets 2011: $2,381,0802011Assets 2012: $2,594,061Liabilities 2012: $0Net Assets 2012: $2,594,0612012Assets 2013: $2,870,896Liabilities 2013: $803Net Assets 2013: $2,870,0932013Assets 2014: $3,015,953Liabilities 2014: $49Net Assets 2014: $3,015,9042014Assets 2015: $2,856,449Liabilities 2015: $0Net Assets 2015: $2,856,4492015Assets 2016: $3,259,923Liabilities 2016: $0Net Assets 2016: $3,259,9232016Assets 2017: $3,587,896Liabilities 2017: $10,922Net Assets 2017: $3,576,9742017Assets 2018: $3,311,130Liabilities 2018: $10,695Net Assets 2018: $3,300,4352018Assets 2019: $4,279,386Liabilities 2019: $14,000Net Assets 2019: $4,265,3862019Assets 2020: $4,401,327Liabilities 2020: $458Net Assets 2020: $4,400,8692020Assets 2021: $4,664,497Liabilities 2021: $0Net Assets 2021: $4,664,4972021Assets 2022: $3,987,385Liabilities 2022: $0Net Assets 2022: $3,987,3852022Assets 2023: $4,188,096Liabilities 2023: $0Net Assets 2023: $4,188,0962023Assets 2024: $4,437,897Liabilities 2024: $0Net Assets 2024: $4,437,8972024

Highlighted filing

2020

Assets$4,401,327
Liabilities$458
Net Assets$4,400,869
Open 2020 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $159,2452010Expenses 2011: $168,8672011Expenses 2012: $194,0352012Revenue 2013: $309,890Expenses 2013: $211,724Net Income 2013: $98,1662013Revenue 2014: $285,439Expenses 2014: $208,954Net Income 2014: $76,4852014Revenue 2015: $138,030Expenses 2015: $209,654Net Income 2015: -$71,6242015Revenue 2016: $530,879Expenses 2016: $241,508Net Income 2016: $289,3712016Revenue 2017: $90,624Expenses 2017: $232,218Net Income 2017: -$141,5942017Revenue 2018: $451,955Expenses 2018: $235,135Net Income 2018: $216,8202018Revenue 2019: $213,693Expenses 2019: $233,854Net Income 2019: -$20,1612019Revenue 2020: $1,732,782Expenses 2020: $237,936Net Income 2020: $1,494,8462020Revenue 2021: $360,858Expenses 2021: $242,718Net Income 2021: $118,1402021Revenue 2022: $228,377Expenses 2022: $255,845Net Income 2022: -$27,4682022Revenue 2023: $96,063Expenses 2023: $260,709Net Income 2023: -$164,6462023Revenue 2024: $558,436Expenses 2024: $345,568Net Income 2024: $212,8682024

Highlighted filing

2020

Revenue$1,732,782
Expenses$237,936
Net Income$1,494,846
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 3, 2021
Return Version
2020v4.1
Gross Receipts
$4,392,573
Mission and Program Overview

Mission

The organization's mission is to aid and encourage walpole residents to obtain post secondary cultural, vocational, or professional education through residential and business mail campaigns and a fundraising event.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,088,941$4,293,229▲ $204,288
Savings and Temporary Cash Investments$189,781$108,098▼ $81,683
Prepaid Expenses and Deferred Charges$664$0▼ $664
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$4,279,386$4,401,327▲ $121,941
Liabilities
Deferred Revenue$10,000$0▼ $10,000
Accounts Payable and Accrued Expenses$4,000$458▼ $3,542
Total Liabilities$14,000$458▼ $13,542
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,119,042$3,263,821▲ $144,779
Net Assets With Donor Restrictions$1,146,344$1,137,048▼ $9,296
Total Net Assets Fund Balance$4,265,386$4,400,869▲ $135,483
Total Liabilities and Net Assets / Fund Balance$4,279,386$4,401,327▲ $121,941

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$1,099$1,099
Land$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$407,996-▲ $21,421-$421,755
2019$317,457$0▲ $98,275-$407,996
2018$351,981$0▼ $26,943-$317,457
2017$278,492$0▲ $81,125-$351,981
2016$275,551$0▲ $2,941-$278,492
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Mcgrath MichaelPresident
Beliveau GeorgiaTrustee
Bent DavidTrustee
Burke BjTrustee
Corso MarioTrustee
Cox JessicaTrustee
Davis-street JeaneanTrustee
Delaney JamesTrustee
Della Valle ChrisTrustee
Flowers AndrewTrustee
Hinton PatrickTrustee
Lynch DeniseTrustee
Mulligan JoanneTrustee
Walsh AnnTrustee
Nannicelli ThomasAssistant Treasurer
Conradi CandyFinancial Secretary
Delleo JeffTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$53,915
Program Service Revenue
$0
Investment Income
$1,653,886
Other Revenue
$24,981
All Other Contributions
$53,915
Change in Net Assets
$1,494,846
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$196,000
Other Expenses$41,936
Total Fundraising Expense$3,822
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$196,000--$196,000
Fees for Service Investment Mgmnt Fees$0$27,718$0$27,718
Fees for Services Accounting$0$4,800$0$4,800
Information Technology$2,500$0$386$2,886
All Other Expenses$0$1,649$424$2,073
Office Expenses$0$1,251$595$1,846
Advertising$0$0$868$868
Other Expenses$0$0$704$704
Total Functional Expenses$198,500$35,614$3,822$237,936
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$29,252
Fundraising Direct Expenses$4,271
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Walpole Scholarship Foundation Inc
EIN
04-2794495
Phone
5082455799
Address
1 HOMEWARD LANE, WALPOLE, MA 02081-2239

Signing Officer

Name
Jeff Delleo
Title
Treasurer
Phone
5082455799
Signed
2021-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Delleo
Formed
1983
Legal Domicile
Ma
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
30

Preparer

Firm
Gruppioni & Pelissier LLC
Address
555 ELM STREET, NORTH ATTLEBOROUGH, MA 02760
Preparer
Kelly C Pelissier CPA Mst
Phone
5086997602
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

“The Board of Trustees is the governing body.”

Pt VI, Line 7A

“Board of Trustee vacancies are filled by a majority vote of the existing Board members.”

Pt VI, Line 8B

“The executive committee meeting minutes are not yet kept.”

Pt VI, Line 11B

“Form 990 is available for every Board of Trustee memeber's review prior to its filing.”

Pt VI, Line 15A

“There are no paid officers or employees.”

Pt VI, Line 15B

“There are no paid officers or employees.”

Pt VI, Line 19

“Copies of the governing documents and financial statements are available to the public upon request.”

Financial Statement Notes

Pt XII, Line 2D

“The Morrisey-Ropp Scholarship Fund and The Christopher Charles Vlahos Memorial Fund are permanently restricted by the donors. Investment income is to be used in accordance with the Organization's purpose and mission.”

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IRS990/MissionDesc0THE ORGANIZATION'S MISSION IS TO AID AND ENCOURAGE WALPOLE RESIDENTS TO OBTAIN POST SECONDARY CULTURAL, VOCATIONAL, OR PROFESSIONAL EDUCATION THROUGH RESIDENTIAL AND BUSINESS MAIL CAMPAIGNS AND A FUNDRAISING EVENT.
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IRS990/OfficeExpensesGrp/FundraisingAmt0595
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01251
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
IRS990/OfficeExpensesGrp/TotalAmt01846
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IRS990/OperateHospitalInd0false
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc1CREDIT CARD FEES
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IRS990/OtherExpensesGrp/FundraisingAmt1210
IRS990/OtherExpensesGrp/FundraisingAmt2240
IRS990/OtherExpensesGrp/FundraisingAmt3704
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2196
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt00
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IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt30
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IRS990/OtherExpensesGrp/TotalAmt1210
IRS990/OtherExpensesGrp/TotalAmt2436
IRS990/OtherExpensesGrp/TotalAmt3704
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYGrantsAndSimilarPaidAmt0200000
IRS990/PYInvestmentIncomeAmt096017
IRS990/PYOtherExpensesAmt033854
IRS990/PYOtherRevenueAmt030083
IRS990/PYRevenuesLessExpensesAmt0-20161
IRS990/PYTotalExpensesAmt0233854
IRS990/PYTotalRevenueAmt0213693
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01494846
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RevenueAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt035614
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt035671
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt067691
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt090988
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt092937
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0145577
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IRS990ScheduleA/PublicSupportCY509Pct00
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IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt017040
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0280484
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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0421755
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IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt021421
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt07581
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0278492
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02941
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,401,327
Liabilities
$458
Net assets
$4,400,869
Revenue
$1,732,782
Expenses
$237,936
Net income
$1,494,846
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.44$0.00$4.44$0.56$0.35$0.21
2023Detailed filing. Detailed filing data is available for this year.$4.19$0.00$4.19$0.10$0.26$0.16
2022Detailed filing. Detailed filing data is available for this year.$3.99$0.00$3.99$0.23$0.26$0.03
2021Detailed filing. Detailed filing data is available for this year.$4.66$0.00$4.66$0.36$0.24$0.12
2020Detailed filing. Detailed filing data is available for this year.$4.40$0.00$4.40$1.73$0.24$1.49
2019Detailed filing. Detailed filing data is available for this year.$4.28$0.01$4.27$0.21$0.23$0.02
2018Detailed filing. Detailed filing data is available for this year.$3.31$0.01$3.30$0.45$0.24$0.22
2017Detailed filing. Detailed filing data is available for this year.$3.59$0.01$3.58$0.09$0.23$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.26$0.00$3.26$0.53$0.24$0.29
2015Detailed filing. Detailed filing data is available for this year.$2.86$0.00$2.86$0.14$0.21$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.02$0.00$3.02$0.29$0.21$0.08
2013Detailed filing. Detailed filing data is available for this year.$2.87$0.00$2.87$0.31$0.21$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$0.00$2.59$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$0.00$2.38$0.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$0.00$2.07$0.16