Civic Intelligence

Melrose High School Permanent Scholarship Fund Organization

990 • Fiscal year 2017 • EIN 04-6116247

Jul 01, 2016 to Jun 30, 2017 • Filed on May 09, 2018

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

28th percentile

0.04x

Higher debt load relative to assets than 28% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

29th percentile

0.07x

Higher debt load relative to revenue than 29% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

98th percentile

90%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$10,000

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

96th percentile

92%

Faster asset growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

1485%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$6,538,341

Up $3,139,862 (+92%) from 2016

Net Assets

Up

$6,295,751

Up $3,088,862 (+96%) from 2016

Liabilities

Up

$242,590

Up $51,000 (+27%) from 2016

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin98th percentile

Revenue

Up

$3,441,165

Up $3,224,009 (+1485%) from 2016

Expenses

Up

$352,303

Up $48,607 (+16%) from 2016

Net Income

Up

$3,088,862

Up $3,175,402 (+3669%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth96th 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

2017

Assets$6,538,341
Liabilities$242,590
Net Assets$6,295,751
Open 2017 Filing

Operations Trend

Revenue Growth99th 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

2017

Revenue$3,441,165
Expenses$352,303
Net Income$3,088,862
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 9, 2018
Return Version
2016v3.0
Gross Receipts
$6,857,336
Mission and Program Overview

Mission

Scholarship assistance to graduates of melrose high school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,570,841$6,077,628▲ $3,506,787
Savings and Temporary Cash Investments$765,936$436,916▼ $329,020
Cash and Non-Interest-Bearing Accounts$61,702$23,797▼ $37,905
Total Assets$3,398,479$6,538,341▲ $3,139,862
Liabilities
Other Liabilities$191,590$242,590▲ $51,000
Total Liabilities$191,590$242,590▲ $51,000
Net Assets / Fund Balance
Unrestricted Net Assets$446,016$3,375,084▲ $2,929,068
Permanently Rstr Net Assets$2,760,873$2,920,667▲ $159,794
Total Net Assets Fund Balance$3,206,889$6,295,751▲ $3,088,862
Total Liabilities and Net Assets / Fund Balance$3,398,479$6,538,341▲ $3,139,862

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2013$2,741,668$53,731▲ $215,741-$2,786,501
2012$2,494,041$203,535▲ $170,088-$2,741,668
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey N PitcherTreasurerPT$10,000$10,000

Board Members and Trustees

NameTitle
David LucasTrustee
Mark HutchinsonTrustee
Richard FlanniganTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$101,409
Program Service Revenue
$0
Investment Income
$3,339,756
Other Revenue
$0
All Other Contributions
$101,409
Change in Net Assets
$3,088,862
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$304,100
Other Expenses$38,203
Salaries, Compensation, and Employee Benefits$10,000
Total Fundraising Expense$6,699
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$304,100--$304,100
Fees for Service Investment Mgmnt Fees-$26,300-$26,300
Current Officers, Directors, Trustees, and Key Employees-$10,000-$10,000
Office Expenses-$1,641$6,699$8,340
Fees for Services Accounting-$3,000-$3,000
Occupancy-$563-$563
Total Functional Expenses$304,100$41,504$6,699$352,303
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$242,590
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

Governance Explanations

Form 990, Part VI, Section A, Line 8A

“The organization does not record any official minutes from it's meetings.”

Form 990, Part VI, Section A, Line 8B

“The organization does not have any such committees.”

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 15A

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

Form 990, Part VI, Section C, Line 19

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

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

“Jeffrey n pitcher - 42 glendale avenue, melrose, ma 02176. Richard flannigan - 306 vinton street, melrose, ma 02176. David lucas - 22 slayton road, melrose, ma 02176. Mark hutchinson - 193 green street, melrose, ma 02176.”

Filing and Contact Details

Filer

Filer Name
Melrose High School Permanent
EIN
04-6116247
Phone
7819561922
Address
PO BOX 760695, MELROSE, MA 02176

Signing Officer

Name
Jeffrey Pitcher
Title
Treasurer
Phone
7819561922
Signed
2018-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Pitcher
Formed
1964
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
10

Preparer

Firm
Hughes and Company Pc
Address
ONE WEST FOSTER STREET, MELROSE, MA 02176
Preparer
David J Mccaughin
Phone
7816657100
Supplemental Narrative

Financial Statement Notes

PART 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 Appendix365 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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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02741668
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0108295
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0170088
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0242590
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SCHOLARSHIPS PAYABLE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S ENDOWMENT FUNDS ARE INTENDED TO BE USED TO GIVE SCHOLARSHIP ASSISTANCE TO GRADUATES OF MELROSE HIGH SCHOOL.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt0242590
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0304100
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0138
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 PAID TO THE SCHOOL, NOT TO THE STUDENT. AWARD RECIPIENTS HAVE 5 YEARS TO REDEEM THEIR AWARD AND THEN THE AWARD EXPIRES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT RECORD ANY OFFICIAL MINUTES FROM IT'S MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY SUCH COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TREASURER RECEIVES A STIPEND OF $10,000 PER YEAR WHICH WAS DETERMINED IN JANUARY 2008 BY THE TWO ACTING TRUSTEES AT THAT TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS AND FINANCIAL INFORMATION AVAILABLE UPON REQUEST. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5JEFFREY N PITCHER - 42 GLENDALE AVENUE, MELROSE, MA 02176. RICHARD FLANNIGAN - 306 VINTON STREET, MELROSE, MA 02176. DAVID LUCAS - 22 SLAYTON ROAD, MELROSE, MA 02176. MARK HUTCHINSON - 193 GREEN STREET, MELROSE, MA 02176.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03398479
IRS990/TotalAssetsEOYAmt06538341
IRS990/TotalAssetsGrp/BOYAmt03398479
IRS990/TotalAssetsGrp/EOYAmt06538341
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0101409
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06699
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt041504
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0304100
IRS990/TotalFunctionalExpensesGrp/TotalAmt0352303
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0191590
IRS990/TotalLiabilitiesEOYAmt0242590
IRS990/TotalLiabilitiesGrp/BOYAmt0191590
IRS990/TotalLiabilitiesGrp/EOYAmt0242590
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03206889
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06295751
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0304100
IRS990/TotalReportableCompFromOrgAmt010000
IRS990/TotalRevenueGrp/ExclusionAmt03339756
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03441165
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03398479
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06538341
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0446016
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03375084
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 760695
IRS990/USAddress/CityNm0MELROSE
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002176
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFFREY PITCHER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07819561922
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MELROSE HIGH SCHOOL PERMANENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SCHOLARSHIP FUND
ReturnHeader/Filer/BusinessNameControlTxt0MELR
ReturnHeader/Filer/EIN0046116247
ReturnHeader/Filer/PhoneNum07819561922
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 760695
ReturnHeader/Filer/USAddress/CityNm0MELROSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002176
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E07F80F1FC251EA51658C8688D5E15D2595A6823
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0E07F80F1FC251EA51658C8688D5E15D2595A6823
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.86.127.49
ReturnHeader/FilingSecurityInformation/IPDt02018-05-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm009:05:34
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042842388
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUGHES AND COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE WEST FOSTER STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MELROSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002176
ReturnHeader/PreparerPersonGrp/PhoneNum07816657100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID J MCCAUGHIN
ReturnHeader/ReturnTs02018-05-10T12:50:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,538,341
Liabilities
$242,590
Net assets
$6,295,751
Revenue
$3,441,165
Expenses
$352,303
Net income
$3,088,862
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