Civic Intelligence

Scholarship Foundation of East Providence Inc.

990 • Fiscal year 2018 • EIN 23-7007104

Jan 01, 2018 to Dec 31, 2018 • Filed on May 13, 2019

Organization Profile
PO Box 154438East Providence, RI 02915

(401) 556-6706

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

82nd percentile

27%

Higher net margin than 82% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

19th percentile

-6.7%

Faster asset growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

72nd percentile

17%

Faster revenue growth than 72% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$1,510,192

Down $108,244 (-6.7%) from 2017

Net Assets

Down

$1,510,192

Down $108,244 (-6.7%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin82nd percentile

Revenue

Up

$272,233

Up $39,852 (+17%) from 2017

Expenses

Up

$198,586

Up $22,712 (+13%) from 2017

Net Income

Up

$73,647

Up $17,140 (+30%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$3.0M$2.0M$1.0M$0Assets 2016: $1,444,050Liabilities 2016: $0Net Assets 2016: $1,444,0502016Assets 2017: $1,618,436Liabilities 2017: $0Net Assets 2017: $1,618,4362017Assets 2018: $1,510,192Liabilities 2018: $0Net Assets 2018: $1,510,1922018Assets 2019: $1,764,636Liabilities 2019: $0Net Assets 2019: $1,764,6362019Assets 2020: $1,953,576Liabilities 2020: $0Net Assets 2020: $1,953,5762020Assets 2021: $2,095,002Liabilities 2021: $0Net Assets 2021: $2,095,0022021Assets 2022: $1,896,689Liabilities 2022: $0Net Assets 2022: $1,896,6892022Assets 2023: $2,111,402Liabilities 2023: $0Net Assets 2023: $2,111,4022023Assets 2024: $2,069,964Liabilities 2024: $0Net Assets 2024: $2,069,9642024

Highlighted filing

2018

Assets$1,510,192
Liabilities$0
Net Assets$1,510,192
Open 2018 Filing

Operations Trend

Revenue Growth72nd percentile

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

$600K$400K$200K$0-$200KRevenue 2016: $186,377Expenses 2016: $173,379Net Income 2016: $12,9982016Revenue 2017: $232,381Expenses 2017: $175,874Net Income 2017: $56,5072017Revenue 2018: $272,233Expenses 2018: $198,586Net Income 2018: $73,6472018Revenue 2019: $239,126Expenses 2019: $191,058Net Income 2019: $48,0682019Revenue 2020: $405,007Expenses 2020: $201,109Net Income 2020: $203,8982020Revenue 2021: $191,718Expenses 2021: $189,698Net Income 2021: $2,0202021Revenue 2022: $224,811Expenses 2022: $202,157Net Income 2022: $22,6542022Revenue 2023: $237,555Expenses 2023: $222,247Net Income 2023: $15,3082023Revenue 2024: $370,755Expenses 2024: $435,510Net Income 2024: -$64,7552024

Highlighted filing

2018

Revenue$272,233
Expenses$198,586
Net Income$73,647
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 13, 2019
Return Version
2018v3.1
Gross Receipts
$475,728
Mission and Program Overview

Mission

The mission of scholarship foundation of east providence is to raise, distribute and administer funds for the purpose of awarding scholarships to assist students residing in the city of east providence to obtain education beyond the secondary or high school level.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,497,552$1,364,417▼ $133,135
Cash and Non-Interest-Bearing Accounts$88,109$88,268▲ $159
Savings and Temporary Cash Investments$32,314$57,130▲ $24,816
Total Assets$1,618,436$1,510,192▼ $108,244
Other Assets Total$461$377▼ $84
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$1,036,160$890,699▼ $145,461
Permanently Rstr Net Assets$468,614$503,642▲ $35,028
Temporarily Rstr Net Assets$113,662$115,851▲ $2,189
Total Net Assets Fund Balance$1,618,436$1,510,192▼ $108,244
Total Liabilities and Net Assets / Fund Balance$1,618,436$1,510,192▼ $108,244

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$2,825$2,825
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Joseph DurandPresident
Louise PaivaDirector
Stephen BentzDirector
Susan JordanDirector
Patsy HawksleySecretary
Toni-maria SpencerTreasurer
Joan KentVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$142,991
Program Service Revenue
$0
Investment Income
$116,491
Other Revenue
$12,751
All Other Contributions
$142,991
Change in Net Assets
$73,647
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$175,607
Other Expenses$22,979
Total Fundraising Expense$404
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$175,607--$175,607
Fees for Service Investment Mgmnt Fees$14,884--$14,884
Office Expenses$1,575--$1,575
Other Expenses-$574$404$404
Insurance-$215-$215
All Other Expenses-$20-$20
Total Functional Expenses$192,066$6,116$404$198,586
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$15,165
Fundraising Direct Expenses$2,414
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Holiday Breakfa$15,165$15,165$2,414$12,751
Total Events$15,165$15,165$2,414$12,751
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
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

“Board president and vice president review the return prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available through the rhode island secretary of state web site. The organization does not have a conflict of interest policy. The organization makes its financial information available to all through its annual report and its financial statements and form 990 available upon request.”

Filing and Contact Details

Filer

Filer Name
Scholarship Foundation of
EIN
23-7007104
Address
PO BOX 154438, EAST PROVIDENCE, RI 02915

Signing Officer

Name
Joseph Durand
Title
President
Signed
2019-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Durand
Formed
1984
Legal Domicile
Ri
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Massa & Leroux LLC
Address
400 MASSASOIT AVENUE SUITE 106, EAST PROVIDENCE, RI 02914
Preparer
Helena I Massa CPA
Phone
4014374000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of scholarship foundation of east providence is to raise, distribute and administer funds for the purpose of awarding scholarships to assist students residing in the city of east providence to obtain education beyond the secondary or high school level.”

Form 990, Part XI, Line 9

“Non dividend distributions 2,808”

Raw XML Appendix367 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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IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02414
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0175607
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0151
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF SCHOLARSHIP FOUNDATION OF EAST PROVIDENCE IS TO RAISE, DISTRIBUTE AND ADMINISTER FUNDS FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO ASSIST STUDENTS RESIDING IN THE CITY OF EAST PROVIDENCE TO OBTAIN EDUCATION BEYOND THE SECONDARY OR HIGH SCHOOL LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD PRESIDENT AND VICE PRESIDENT REVIEW THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE THROUGH THE RHODE ISLAND SECRETARY OF STATE WEB SITE. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY. THE ORGANIZATION MAKES ITS FINANCIAL INFORMATION AVAILABLE TO ALL THROUGH ITS ANNUAL REPORT AND ITS FINANCIAL STATEMENTS AND FORM 990 AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NON DIVIDEND DISTRIBUTIONS 2,808
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0115851
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0142991
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0404
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06116
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0192066
IRS990/TotalFunctionalExpensesGrp/TotalAmt0198586
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01510192
IRS990/TotalProgramServiceExpensesAmt0192066
IRS990/TotalRevenueGrp/ExclusionAmt041751
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt087491
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0272233
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01618436
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01510192
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01036160
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0890699
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01 REDWAY CIRCLE
IRS990/USAddress/CityNm0EAST PROVIDENCE
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002916
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH DURAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SCHOLARSHIP FOUNDATION OF
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EAST PROVIDENCE INC
ReturnHeader/Filer/BusinessNameControlTxt0SCHO
ReturnHeader/Filer/EIN0237007104
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 154438
ReturnHeader/Filer/USAddress/CityNm0EAST PROVIDENCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002915
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId043F9DC9D1DCF53F3A0071F9C4B57A2852B914DC3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId043F9DC9D1DCF53F3A0071F9C4B57A2852B914DC3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0108.34.134.66
ReturnHeader/FilingSecurityInformation/IPDt02019-05-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm009:13:27
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0821918266
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MASSA & LEROUX LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0400 MASSASOIT AVENUE SUITE 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST PROVIDENCE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0RI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002914
ReturnHeader/PreparerPersonGrp/PhoneNum04014374000
ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HELENA I MASSA CPA
ReturnHeader/ReturnTs02019-05-15T09:13:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,510,192
Liabilities
$0
Net assets
$1,510,192
Revenue
$272,233
Expenses
$198,586
Net income
$73,647
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.07$0.00$2.07$0.37$0.44$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$0.24$0.22$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.90$0.00$1.90$0.22$0.20$0.02
2021Detailed filing. Detailed filing data is available for this year.$2.10$0.00$2.10$0.19$0.19$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.95$0.00$1.95$0.41$0.20$0.20
2019Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$0.24$0.19$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.51$0.00$1.51$0.27$0.20$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.62$0.00$1.62$0.23$0.18$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.44$0.00$1.44$0.19$0.17$0.01