Civic Intelligence

Melrose High School Permanent Scholarship Fund Organization

990 • Fiscal year 2019 • EIN 04-6116247

Jul 01, 2018 to Jun 30, 2019 • Filed on May 07, 2020

Organization ProfileN/A
PO Box 760695Melrose, MA 02176

(781) 956-1922

Siviq Scores

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

Liabilities / Assets

30th percentile

0.04x

Higher debt load relative to assets than 30% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

74th percentile

0.56x

Higher debt load relative to revenue than 74% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

85th percentile

32%

Higher net margin than 85% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$7,500

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

58th percentile

5.7%

Faster asset growth than 58% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

24%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$7,896,432

Up $423,476 (+5.7%) from 2018

Net Assets

Up

$7,586,142

Up $368,076 (+5.1%) from 2018

Liabilities

Up

$310,290

Up $55,400 (+22%) from 2018

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin85th percentile

Revenue

Up

$558,314

Up $106,835 (+24%) from 2018

Expenses

Up

$379,433

Up $8,790 (+2.4%) from 2018

Net Income

Up

$178,881

Up $98,045 (+121%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$15M$10M$5.0M$0Assets 2010: $2,826,859Liabilities 2010: $25,455Net Assets 2010: $2,801,4042010Assets 2011: $2,894,869Liabilities 2011: $71,050Net Assets 2011: $2,823,8192011Assets 2012: $2,923,773Liabilities 2012: $71,395Net Assets 2012: $2,852,3782012Assets 2013: $3,220,308Liabilities 2013: $68,688Net Assets 2013: $3,151,6202013Assets 2014: $3,339,107Liabilities 2014: $115,890Net Assets 2014: $3,223,2172014Assets 2015: $3,450,954Liabilities 2015: $157,525Net Assets 2015: $3,293,4292015Assets 2016: $3,398,479Liabilities 2016: $191,590Net Assets 2016: $3,206,8892016Assets 2017: $6,538,341Liabilities 2017: $242,590Net Assets 2017: $6,295,7512017Assets 2018: $7,472,956Liabilities 2018: $254,890Net Assets 2018: $7,218,0662018Assets 2019: $7,896,432Liabilities 2019: $310,290Net Assets 2019: $7,586,1422019Assets 2020: $8,022,071Liabilities 2020: $311,615Net Assets 2020: $7,710,4562020Assets 2021: $9,886,220Liabilities 2021: $412,065Net Assets 2021: $9,474,1552021Assets 2022: $10,022,994Liabilities 2022: $423,658Net Assets 2022: $9,599,3362022Assets 2023: $9,939,943Liabilities 2023: $614,753Net Assets 2023: $9,325,1902023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2019

Assets$7,896,432
Liabilities$310,290
Net Assets$7,586,142
Open 2019 Filing

Operations Trend

Revenue Growth80th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $199,0772010Expenses 2011: $211,2632011Expenses 2012: $193,0812012Revenue 2013: $463,337Expenses 2013: $164,095Net Income 2013: $299,2422013Revenue 2014: $284,087Expenses 2014: $212,490Net Income 2014: $71,5972014Revenue 2015: $352,885Expenses 2015: $282,673Net Income 2015: $70,2122015Revenue 2016: $217,156Expenses 2016: $303,696Net Income 2016: -$86,5402016Revenue 2017: $3,441,165Expenses 2017: $352,303Net Income 2017: $3,088,8622017Revenue 2018: $451,479Expenses 2018: $370,643Net Income 2018: $80,8362018Revenue 2019: $558,314Expenses 2019: $379,433Net Income 2019: $178,8812019Revenue 2020: $338,084Expenses 2020: $396,279Net Income 2020: -$58,1952020Revenue 2021: $516,436Expenses 2021: $424,424Net Income 2021: $92,0122021Revenue 2022: $430,231Expenses 2022: $337,455Net Income 2022: $92,7762022Revenue 2023: $638,167Expenses 2023: $545,264Net Income 2023: $92,9032023Revenue 2024: $772,449Expenses 2024: $633,043Net Income 2024: $139,4062024

Highlighted filing

2019

Revenue$558,314
Expenses$379,433
Net Income$178,881
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 7, 2020
Return Version
2018v3.1
Gross Receipts
$2,195,754
Mission and Program Overview

Mission

Scholarship assistance to graduates of melrose high school.

Scholarship assistance to graduates of melrose high school

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,995,059$7,401,589▲ $406,530
Savings and Temporary Cash Investments$380,131$382,695▲ $2,564
Cash and Non-Interest-Bearing Accounts$97,766$112,148▲ $14,382
Total Assets$7,472,956$7,896,432▲ $423,476
Liabilities
Other Liabilities$254,890$310,290▲ $55,400
Total Liabilities$254,890$310,290▲ $55,400
Net Assets / Fund Balance
Unrestricted Net Assets$4,158,444$4,391,742▲ $233,298
Permanently Rstr Net Assets$3,059,622$3,194,400▲ $134,778
Total Net Assets Fund Balance$7,218,066$7,586,142▲ $368,076
Total Liabilities and Net Assets / Fund Balance$7,472,956$7,896,432▲ $423,476

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$3,059,622$93,928▲ $335,450-$3,194,400
2017$2,920,667$92,488▲ $332,435-$3,059,622
2016$2,760,873$60,631▲ $412,365-$2,920,667
2015$2,848,674$35,096▲ $148,623-$2,760,873
2014$2,786,501$63,426▲ $249,986-$2,848,674
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey PitcherTreasurerPT$7,500$7,500

Board Members and Trustees

NameTitle
David LucasTrustee
Mark HutchinsonTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$93,928
Program Service Revenue
$0
Investment Income
$458,596
Other Revenue
$5,790
All Other Contributions
$93,928
Change in Net Assets
$178,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$330,900
Other Expenses$41,033
Salaries, Compensation, and Employee Benefits$7,500
Total Fundraising Expense$1,999
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$330,900--$330,900
Fees for Service Investment Mgmnt Fees$0$33,467$0$33,467
Current Officers, Directors, Trustees, and Key Employees$0$7,500$0$7,500
Occupancy$0$2,386$0$2,386
Advertising$0$0$1,999$1,999
Other Expenses$0$1,103$0$1,103
Office Expenses$0$739$0$739
Fees for Services Accounting$0$100$0$100
Total Functional Expenses$330,900$46,534$1,999$379,433
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarships Payable$310,290
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
No
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
Melrose High School Permanent Scholarship Fund
EIN
04-6116247
Phone
7819561922
Address
PO BOX 760695, MELROSE, MA 02176

Signing Officer

Name
Jeffrey Pitcher
Title
Treasurer
Phone
7819561922
Signed
2020-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Pitcher
Formed
1964
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
10

Preparer

Firm
DF Breen LLC
Address
18 Woodcrest Dr, Melrose, MA 02176
Preparer
Alaine M Breen
Phone
7819790086
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The form 990 is distributed to the board for review and approval prior to filing”

Pt VI, Line 15A

“The treasurer receives a stipend of $10,000 per year which was determined in january, 2008 by the two acting directors at that time”

Pt VI, Line 19

“The organization makes its governing documents and financial information available upon request. The organization does not have a conflict of interest policy”

Pt VI, Line 8A

“Minutes are taken by an assigned board member at each meeting”

Pt VI, Line 18

“Form 990 and other organizational documents are made available upon request”

Pt VI, Line 8B

“There are no such committes”

Financial Statement Notes

Pt V, Line 4

“The organization's endowment funds are intended to be used to give scholarship assistance to graduates of melrose high school”

Raw XML Appendix388 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0A SELECTION COMMITTEE AT MELROSE HIGH SCHOOL COLLECTS APPLICATIONS FROM STUDENTS AND SELECTS THE RECIPIENTS AND THE AMOUNT OF AWARD THEY RECEIVE BASED ON THE AMOUNT OF AWARDS AVAILABLE. STUDENTS SUBMIT THEIR AWARD VOUCHERS TO THE SCHOOL THEY ARE ATTENDING AND THE SCHOOL SUBMITS THE VOUCHER FOR PAYMENT DIRECTLY TO THE FUND. CHECKS ARE PAYABLE TO THE SCHOOL NOT THE STUDENT. AWARD RECIPIENTS HAVE 5 YEARS TO REDEEM THEIR AWARD AT WHICH POINT UNREDEEMED AWARDS EXPIRE AND REVERT BACK TO THE FUND.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER RECEIVES A STIPEND OF $10,000 PER YEAR WHICH WAS DETERMINED IN JANUARY, 2008 BY THE TWO ACTING DIRECTORS AT THAT TIME
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL INFORMATION AVAILABLE UPON REQUEST. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MINUTES ARE TAKEN BY AN ASSIGNED BOARD MEMBER AT EACH MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 AND OTHER ORGANIZATIONAL DOCUMENTS ARE MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THERE ARE NO SUCH COMMITTES
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 8b
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ReturnHeader/BusinessOfficerGrp/PersonNm0JEFFREY PITCHER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07819561922
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-07
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ReturnHeader/Filer/PhoneNum07819561922
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ReturnHeader/FilingSecurityInformation/IPDt02020-05-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm008:19:30
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DF Breen LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt018 Woodcrest Dr
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Melrose
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002176
ReturnHeader/PreparerPersonGrp/PhoneNum07819790086
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Alaine M Breen
ReturnHeader/ReturnTs02020-05-18T08:19:41-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,896,432
Liabilities
$310,290
Net assets
$7,586,142
Revenue
$558,314
Expenses
$379,433
Net income
$178,881
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.77$0.63$0.14
2023Detailed filing. Detailed filing data is available for this year.$9.94$0.61$9.33$0.64$0.55$0.09
2022Detailed filing. Detailed filing data is available for this year.$10.0$0.42$9.60$0.43$0.34$0.09
2021Detailed filing. Detailed filing data is available for this year.$9.89$0.41$9.47$0.52$0.42$0.09
2020Summary only. Only limited summary data is available for this year.$8.02$0.31$7.71$0.34$0.40$0.06
2019Detailed filing. Detailed filing data is available for this year.$7.90$0.31$7.59$0.56$0.38$0.18
2018Detailed filing. Detailed filing data is available for this year.$7.47$0.25$7.22$0.45$0.37$0.08
2017Detailed filing. Detailed filing data is available for this year.$6.54$0.24$6.30$3.44$0.35$3.09
2016Detailed filing. Detailed filing data is available for this year.$3.40$0.19$3.21$0.22$0.30$0.09
2015Detailed filing. Detailed filing data is available for this year.$3.45$0.16$3.29$0.35$0.28$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.34$0.12$3.22$0.28$0.21$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.22$0.07$3.15$0.46$0.16$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.92$0.07$2.85$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.89$0.07$2.82$0.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.83$0.03$2.80$0.20