Civic Intelligence

Masconomet Regional Scholarship Foundation Inc

990 • Fiscal year 2021 • EIN 04-3237355

Jul 01, 2020 to Jun 30, 2021 • Filed on Jul 19, 2021

Organization ProfileN/A
20 Endicott RoadBoxford, MA 01921-2709

(978) 887-2323

Siviq Scores

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

Liabilities / Assets

57th percentile

0.11x

Higher debt load relative to assets than 57% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

0.70x

Higher debt load relative to revenue than 83% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

74th percentile

31%

Higher net margin than 74% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

64th percentile

17%

Faster asset growth than 64% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

39%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$1,738,389

Up $254,909 (+17%) from 2020

Net Assets

Up

$1,542,489

Up $261,909 (+20%) from 2020

Liabilities

Down

$195,900

Down $7,000 (-3.4%) from 2020

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin74th percentile

Revenue

Up

$280,419

Up $79,185 (+39%) from 2020

Expenses

Down

$194,483

Down $3,398 (-1.7%) from 2020

Net Income

Up

$85,936

Up $82,583 (+2463%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,213,924Liabilities 2011: $193,550Net Assets 2011: $1,020,3742011Assets 2012: $1,246,617Liabilities 2012: $201,225Net Assets 2012: $1,045,3922012Assets 2013: $1,316,960Liabilities 2013: $198,800Net Assets 2013: $1,118,1602013Assets 2014: $1,421,175Liabilities 2014: $192,320Net Assets 2014: $1,228,8552014Assets 2015: $1,408,102Liabilities 2015: $218,249Net Assets 2015: $1,189,8532015Assets 2016: $1,327,991Liabilities 2016: $224,249Net Assets 2016: $1,103,7422016Assets 2017: $1,376,011Liabilities 2017: $208,780Net Assets 2017: $1,167,2312017Assets 2018: $1,425,222Liabilities 2018: $205,800Net Assets 2018: $1,219,4222018Assets 2019: $1,453,764Liabilities 2019: $207,800Net Assets 2019: $1,245,9642019Assets 2020: $1,483,480Liabilities 2020: $202,900Net Assets 2020: $1,280,5802020Assets 2021: $1,738,389Liabilities 2021: $195,900Net Assets 2021: $1,542,4892021Assets 2022: $1,509,400Liabilities 2022: $211,000Net Assets 2022: $1,298,4002022Assets 2023: $1,618,417Liabilities 2023: $227,300Net Assets 2023: $1,391,1172023Assets 2024: $1,850,631Liabilities 2024: $185,700Net Assets 2024: $1,664,9312024Assets 2025: $2,183,668Liabilities 2025: $241,634Net Assets 2025: $1,942,0342025

Highlighted filing

2021

Assets$1,738,389
Liabilities$195,900
Net Assets$1,542,489
Open 2021 Filing

Operations Trend

Revenue Growth72nd percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $201,4712011Expenses 2012: $200,1512012Revenue 2013: $200,787Expenses 2013: $201,468Net Income 2013: -$6812013Revenue 2014: $208,703Expenses 2014: $196,302Net Income 2014: $12,4012014Revenue 2015: $216,375Expenses 2015: $207,794Net Income 2015: $8,5812015Revenue 2016: $187,306Expenses 2016: $223,942Net Income 2016: -$36,6362016Revenue 2017: $207,015Expenses 2017: $212,809Net Income 2017: -$5,7942017Revenue 2018: $272,094Expenses 2018: $204,960Net Income 2018: $67,1342018Revenue 2019: $206,079Expenses 2019: $203,870Net Income 2019: $2,2092019Revenue 2020: $201,234Expenses 2020: $197,881Net Income 2020: $3,3532020Revenue 2021: $280,419Expenses 2021: $194,483Net Income 2021: $85,9362021Revenue 2022: $261,055Expenses 2022: $201,529Net Income 2022: $59,5262022Revenue 2023: $225,401Expenses 2023: $222,381Net Income 2023: $3,0202023Revenue 2024: $320,371Expenses 2024: $194,229Net Income 2024: $126,1422024Revenue 2025: $409,339Expenses 2025: $251,776Net Income 2025: $157,5632025

Highlighted filing

2021

Revenue$280,419
Expenses$194,483
Net Income$85,936
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jul 19, 2021
Return Version
2020v4.1
Gross Receipts
$606,639
Mission and Program Overview

Mission

Financial aid scholarships to resident students

Financial aid scholarships to resident students in the regional district who are graduates or potential graduates of masconomet regional high school and are accepted at a 4-year or 2-year college, technical institute, school of nursing or other education program beyond high school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,277,514$1,520,511▲ $242,997
Cash and Non-Interest-Bearing Accounts$59,819$131,324▲ $71,505
Pledges and Grants Receivable$51,750$43,050▼ $8,700
Savings and Temporary Cash Investments$90,817$40,888▼ $49,929
Accounts Receivable$3,580$2,616▼ $964
Total Assets$1,483,480$1,738,389▲ $254,909
Liabilities
Grants Payable$199,400$189,400▼ $10,000
Accounts Payable and Accrued Expenses$3,500$3,500→ $0
Deferred Revenue$0$3,000▲ $3,000
Total Liabilities$202,900$195,900▼ $7,000
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,244,734$1,495,140▲ $250,406
Net Assets Without Donor Restrictions$35,846$47,349▲ $11,503
Total Net Assets Fund Balance$1,280,580$1,542,489▲ $261,909
Total Liabilities and Net Assets / Fund Balance$1,483,480$1,738,389▲ $254,909

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,244,734$17,850▲ $301,806-$1,495,140
2019$1,216,421$9,936▲ $93,678-$1,244,734
2018$1,194,629$11,751▲ $85,045-$1,216,421
2017$1,143,940$33,318▲ $97,921-$1,194,629
2016$1,081,302$16,471▲ $124,317-$1,143,940
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Peter DelaniChairperson
Jacqueline BolducSecretary
Timothy F HaganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$114,700
Program Service Revenue
$0
Investment Income
$149,837
Other Revenue
$15,882
All Other Contributions
$114,700
Change in Net Assets
$85,936
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$176,900
Other Expenses$17,583
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$176,900--$176,900
Fees for Service Investment Mgmnt Fees$0$13,619$0$13,619
Fees for Services Accounting$0$3,500$0$3,500
Office Expenses$0$299$0$299
Other Expenses$0$80$0$80
Total Functional Expenses$176,900$17,583$0$194,483
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Masconomet Regional Scholarship Foundation Inc
EIN
04-3237355
Phone
9788872323
Address
20 ENDICOTT ROAD, BOXFORD, MA 01921-2709

Signing Officer

Name
Timothy F Hagan
Title
Treasurer
Phone
9788872323
Signed
2021-07-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy F Hagan
Formed
1994
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
23

Preparer

Firm
Bernard Johnson & Company Pc
Address
15 MAIN STREET, TOPSFIELD, MA 01983
Preparer
Timothy F Hagan CPA
Phone
9788872220
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The treasurer reviews the form 990 prior to its filing”

Pt VI, Line 12C

“Conflict of interest policy is signed and any disclosures are resolved”

Pt VI, Line 19

“Governing documents are made available upon written request”

Pt XII, Line 2C

“The annual certified financial statements are reviewed by the executive committee”

Financial Statement Notes

Pt V, Line 4

“Temporarily restricted net asset funds are used to support perpetual scholarship payments”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TEMPORARILY RESTRICTED NET ASSET FUNDS ARE USED TO SUPPORT PERPETUAL SCHOLARSHIP PAYMENTS
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ISSUES SCHOLARSHIP PAYMENTS DIRECTLY TO THE ACCREDITED POST-SECONDARY EDUCATIONAL INSTITUTION TO BE CREDITED TO THE STUDENT'S ACCOUNT, OR IN THE CASE OF FOREIGN ENROLLMENT, DIRECTLY REIMBURSES THE STUDENT UPON RECEIPT OF EVIDENTIARY MATTER RELATED TO THE STUDENT'S ENROLLMENT AND TUITION PAYMENT AT AN ACCREDITED POST-SECONDARY EDUCATIONAL INSTITUTION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER REVIEWS THE FORM 990 PRIOR TO ITS FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICT OF INTEREST POLICY IS SIGNED AND ANY DISCLOSURES ARE RESOLVED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ANNUAL CERTIFIED FINANCIAL STATEMENTS ARE REVIEWED BY THE EXECUTIVE COMMITTEE
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XII, Line 2c
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0TIMOTHY F HAGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09788872323
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-07-19
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TOPSFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001983
ReturnHeader/PreparerPersonGrp/PhoneNum09788872220
ReturnHeader/PreparerPersonGrp/PreparationDt02021-07-28
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ReturnHeader/ReturnTs02021-07-28T08:12:40-07:00
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,738,389
Liabilities
$195,900
Net assets
$1,542,489
Revenue
$280,419
Expenses
$194,483
Net income
$85,936
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.18$0.24$1.94$0.41$0.25$0.16
2024Detailed filing. Detailed filing data is available for this year.$1.85$0.19$1.66$0.32$0.19$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.62$0.23$1.39$0.23$0.22$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.51$0.21$1.30$0.26$0.20$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.74$0.20$1.54$0.28$0.19$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.48$0.20$1.28$0.20$0.20$0.00
2019Detailed filing. Detailed filing data is available for this year.$1.45$0.21$1.25$0.21$0.20$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.43$0.21$1.22$0.27$0.20$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.38$0.21$1.17$0.21$0.21$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.33$0.22$1.10$0.19$0.22$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.41$0.22$1.19$0.22$0.21$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.42$0.19$1.23$0.21$0.20$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.32$0.20$1.12$0.20$0.20$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.20$1.05$0.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.19$1.02$0.20