Civic Intelligence

Manchester Scholarship Foundation Inc

EIN 06-6076924 • 501(c)3 • Manchester, CT

Profile

To raise money for the purpose of awarding scholarships to assist students in obtaining education beyond the secondary school level; to grant such scholarships on the basis of a combination of the following: community and school involvement, financial need and scholastic attainment; to accomplish the above activities without discrimination as to race, creed, color, national origin, ancestry, gender, sexual orientation, or disability.

20 Hartford RoadManchester, CT 06040

manchesterscholarship.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.22x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

90th percentile

51%

Higher net margin than 90% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

52nd percentile

5.8%

Faster asset growth than 52% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

13th percentile

-15%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$25,599,703

Up $1,404,918 (+5.8%) from 2023

Liabilities

Up

$499,756

Up $36,444 (+7.9%) from 2023

Net Assets

Up

$25,099,947

Up $1,368,474 (+5.8%) from 2023

Revenue

Down

$2,284,093

Down $418,346 (-15%) from 2023

Expenses

Down

$1,113,218

Down $30,341 (-2.7%) from 2023

Net Income

Down

$1,170,875

Down $388,005 (-25%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $5,748,652Liabilities 2010: $0Net Assets 2010: $5,748,6522010Assets 2011: $5,794,777Liabilities 2011: $0Net Assets 2011: $5,794,7772011Assets 2012: $6,154,299Liabilities 2012: $0Net Assets 2012: $6,154,2992012Assets 2013: $6,779,183Liabilities 2013: $0Net Assets 2013: $6,779,1832013Assets 2014: $7,078,621Liabilities 2014: $0Net Assets 2014: $7,078,6212014Assets 2015: $8,056,240Liabilities 2015: $0Net Assets 2015: $8,056,2402015Assets 2016: $8,506,607Liabilities 2016: $0Net Assets 2016: $8,506,6072016Assets 2017: $9,335,208Liabilities 2017: $0Net Assets 2017: $9,335,2082017Assets 2018: $15,977,730Liabilities 2018: $0Net Assets 2018: $15,977,7302018Assets 2019: $17,430,662Liabilities 2019: $0Net Assets 2019: $17,430,6622019Assets 2020: $17,421,076Liabilities 2020: $0Net Assets 2020: $17,421,0762020Assets 2021: $23,662,400Liabilities 2021: $0Net Assets 2021: $23,662,4002021Assets 2022: $23,486,119Liabilities 2022: $0Net Assets 2022: $23,486,1192022Assets 2023: $24,194,785Liabilities 2023: $463,312Net Assets 2023: $23,731,4732023Assets 2024: $25,599,703Liabilities 2024: $499,756Net Assets 2024: $25,099,9472024

Highlighted filing

2024

Assets$25,599,703
Liabilities$499,756
Net Assets$25,099,947

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $379,6662010Revenue 2011: $427,073Expenses 2011: $380,948Net Income 2011: $46,1252011Expenses 2012: $382,2522012Revenue 2013: $1,057,879Expenses 2013: $432,995Net Income 2013: $624,8842013Revenue 2014: $733,331Expenses 2014: $433,893Net Income 2014: $299,4382014Revenue 2015: $1,400,814Expenses 2015: $423,195Net Income 2015: $977,6192015Revenue 2016: $944,866Expenses 2016: $494,499Net Income 2016: $450,3672016Revenue 2017: $1,308,454Expenses 2017: $479,853Net Income 2017: $828,6012017Revenue 2018: $7,318,689Expenses 2018: $676,167Net Income 2018: $6,642,5222018Revenue 2019: $2,201,544Expenses 2019: $748,612Net Income 2019: $1,452,9322019Revenue 2020: $769,097Expenses 2020: $778,683Net Income 2020: -$9,5862020Revenue 2021: $7,063,013Expenses 2021: $821,689Net Income 2021: $6,241,3242021Revenue 2022: $870,610Expenses 2022: $1,046,891Net Income 2022: -$176,2812022Revenue 2023: $2,702,439Expenses 2023: $1,143,559Net Income 2023: $1,558,8802023Revenue 2024: $2,284,093Expenses 2024: $1,113,218Net Income 2024: $1,170,8752024

Highlighted filing

2024

Revenue$2,284,093
Expenses$1,113,218
Net Income$1,170,875

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$25.6$0.50$25.1$2.28$1.11$1.17
2023Detailed filing. Detailed filing data is available for this year.$24.2$0.46$23.7$2.70$1.14$1.56
2022Detailed filing. Detailed filing data is available for this year.$23.5$0.00$23.5$0.87$1.05$0.18
2021Detailed filing. Detailed filing data is available for this year.$23.7$0.00$23.7$7.06$0.82$6.24
2020Detailed filing. Detailed filing data is available for this year.$17.4$0.00$17.4$0.77$0.78$0.01
2019Detailed filing. Detailed filing data is available for this year.$17.4$0.00$17.4$2.20$0.75$1.45
2018Detailed filing. Detailed filing data is available for this year.$16.0$0.00$16.0$7.32$0.68$6.64
2017Detailed filing. Detailed filing data is available for this year.$9.34$0.00$9.34$1.31$0.48$0.83
2016Detailed filing. Detailed filing data is available for this year.$8.51$0.00$8.51$0.94$0.49$0.45
2015Detailed filing. Detailed filing data is available for this year.$8.06$0.00$8.06$1.40$0.42$0.98
2014Detailed filing. Detailed filing data is available for this year.$7.08$0.00$7.08$0.73$0.43$0.30
2013Detailed filing. Detailed filing data is available for this year.$6.78$0.00$6.78$1.06$0.43$0.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.15$0.00$6.15$0.38
2011Summary only. Only limited summary data is available for this year.$5.79$0.00$5.79$0.43$0.38$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.75$0.00$5.75$0.38
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 21, 2025
Return Version
2024v5.0
Gross Receipts
$13,074,422
Mission and Program Overview

Mission

To raise money for the purpose of awarding scholarships to assist students in obtaining education beyond the secondary school level; to grant such scholarships on the basis of a combination of the following: community and school involvement, financial need and scholastic attainment; to accomplish the above activities without discrimination as to race, creed, color, national origin, ancestry, gender, sexual orientation, or disability.

The foundation awards scholarships to students attending accredited colleges and universities or other post secondary schools on a full-time basis. Applicants must be graduating high school and/or residents of manchester. Awards are based on a combination or scholastic achievement, financial need, and school community activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$23,641,908$25,054,929▲ $1,413,021
Savings and Temporary Cash Investments$547,229$541,129▼ $6,100
Prepaid Expenses and Deferred Charges$5,648$3,645▼ $2,003
Total Assets$24,194,785$25,599,703▲ $1,404,918
Liabilities
Other Liabilities$452,858$497,434▲ $44,576
Accounts Payable and Accrued Expenses$10,454$2,322▼ $8,132
Total Liabilities$463,312$499,756▲ $36,444
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,081,263$20,210,470▲ $1,129,207
Net Assets With Donor Restrictions$4,650,210$4,889,477▲ $239,267
Total Net Assets Fund Balance$23,731,473$25,099,947▲ $1,368,474
Total Liabilities and Net Assets / Fund Balance$24,194,785$25,599,703▲ $1,404,918

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$22,658,309$282,365▲ $2,199,325$7,055$24,062,411
2023$23,188,550$336,945▲ $221,938$7,499$22,658,309
2022$23,552,119$111,745▲ $545,005$8,444$23,188,550
2021$17,342,161$405,521▲ $6,657,492$7,558$23,552,119
2020$17,311,514$213,211▲ $555,886$8,562$17,342,162
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nancy BrayPresident
Ben CarbonettiDirector
Ben TabachnickDirector
Catherine KoehlerDirector
Holly SchaeferDirector
Jennifer FiereckDirector
Kathy DyerDirector
Kelly LierzerDirector
Mary Ann HaywardDirector
Michael DarbyDirector
Carol PowellSecretary &
David CassTreasurer
Robin Murdock-meggersVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$282,366
Program Service Revenue
$0
Investment Income
$2,001,727
Other Revenue
$0
All Other Contributions
$282,366
Change in Net Assets
$1,170,875

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,256,593
Revenue Not Reported on Financial Statements
$27,500
Revenue Not Reported on Form 990
$225,099
Total Revenue per Audited Statements
$2,481,692
Total Revenue per Form 990
$2,284,093
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,043,033
Other Expenses$70,185
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,043,033--$1,043,033
Fees for Services Accounting-$16,500-$16,500
Office Expenses-$12,489-$12,489
Other Expenses$2,855$10,395-$2,855
Total Functional Expenses$1,050,088$63,130$0$1,113,218

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,113,218
Expenses per Audited Statements$1,085,718
Total Expenses per Audited Statements$1,085,718
Expenses Not Reported on Financial Statements$27,500
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
Scholarship Payable$497,434
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy of the irs form 990 is presented to the board for review prior to filing.

Form 990, Page 6, Part VI, Line 19

The foundation will provide copies of the financial statements or other data to interested parties when such a request is made.

Filing and Contact Details

Filer

Filer Name
Manchester Scholarship Foundation
EIN
06-6076924
Phone
8606451673
Address
20 HARTFORD ROAD, MANCHESTER, CT 06040

Signing Officer

Name
David Cass
Title
Treasurer
Phone
8606451673
Signed
2025-10-21

Organization Details

Principal Officer
David Cass
Formed
1965
Legal Domicile
Ct
Voting Board Members
14
Independent Board Members
14
Employees
0

Preparer

Firm
Fiondella Milone & Lasaracina Llp
Address
300 WINDING BROOK DR STE 1, GLASTONBURY, CT 06033
Preparer
Amber D Tucker
Phone
8606573651
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To raise money for the purpose of awarding scholarships to assist students in obtaining education beyond the secondary school level; to grant such scholarships on the basis of a combination of the following: community and school involvement, financial need and scholastic attainment; to accomplish the above activities without discrimination as to race, creed, color, national origin, ancestry, gender, sexual orientation, or disability.

Form 990, Page 2, Part III, Line 4D

College tuition scholarships.

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code. The foundation implemented the accounting guidance for uncertainty in income taxes. Tax positions initially need to be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by tax authorities. As of december 31, 2024, the foundation believes it has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements and believes that it has appropriate support for income tax positions taken in its tax returns. The foundation's federal informational returns are subject to examination by the appropriate taxing jurisdiction generally for three years after they are filed.

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IRS990/MissionDesc0TO RAISE MONEY FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO ASSIST STUDENTS IN OBTAINING EDUCATION BEYOND THE SECONDARY SCHOOL LEVEL; TO GRANT SUCH SCHOLARSHIPS ON THE BASIS OF A COMBINATION OF THE FOLLOWING: COMMUNITY AND SCHOOL INVOLVEMENT, FINANCIAL NEED AND SCHOLASTIC ATTAINMENT; TO ACCOMPLISH THE ABOVE ACTIVITIES WITHOUT DISCRIMINATION AS TO RACE, CREED, COLOR, NATIONAL ORIGIN, ANCESTRY, GENDER, SEXUAL ORIENTATION, OR DISABILITY.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IMPLEMENTED THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES. TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. AS OF DECEMBER 31, 2024, THE FOUNDATION BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR INCOME TAX POSITIONS TAKEN IN ITS TAX RETURNS. THE FOUNDATION'S FEDERAL INFORMATIONAL RETURNS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING JURISDICTION GENERALLY FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt01043033
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO RAISE MONEY FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO ASSIST STUDENTS IN OBTAINING EDUCATION BEYOND THE SECONDARY SCHOOL LEVEL; TO GRANT SUCH SCHOLARSHIPS ON THE BASIS OF A COMBINATION OF THE FOLLOWING: COMMUNITY AND SCHOOL INVOLVEMENT, FINANCIAL NEED AND SCHOLASTIC ATTAINMENT; TO ACCOMPLISH THE ABOVE ACTIVITIES WITHOUT DISCRIMINATION AS TO RACE, CREED, COLOR, NATIONAL ORIGIN, ANCESTRY, GENDER, SEXUAL ORIENTATION, OR DISABILITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COLLEGE TUITION SCHOLARSHIPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE IRS FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION WILL PROVIDE COPIES OF THE FINANCIAL STATEMENTS OR OTHER DATA TO INTERESTED PARTIES WHEN SUCH A REQUEST IS MADE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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