Civic Intelligence

Joseph L Wolcott Scholarship Fund

990 • Fiscal year 2017 • EIN 34-6515331

May 01, 2016 to Apr 30, 2017 • Filed on Jul 13, 2017

Organization ProfileWWW.WOLCOTTSCHOLARSHIP.COM
405 Madison Avenue Suite 1470Toledo, OH 43604-1207

(419) 241-8042

Siviq Scores

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

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

17th percentile

0.00x

Higher debt load relative to revenue than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

90th percentile

47%

Higher net margin than 90% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

39th percentile

$20,859

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 11.6% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

61st percentile

7.2%

Faster asset growth than 61% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

80th percentile

30%

Faster revenue growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$1,249,920

Up $83,890 (+7.2%) from 2016

Net Assets

Up

$1,249,446

Up $83,891 (+7.2%) from 2016

Liabilities

Down

$474

Down $1 (-0.2%) from 2016

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin90th percentile

Revenue

Up

$179,380

Up $41,782 (+30%) from 2016

Expenses

Down

$95,489

Down $11,057 (-10%) from 2016

Net Income

Up

$83,891

Up $52,839 (+170%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,222,254Liabilities 2011: $4,109Net Assets 2011: $1,218,1452011Assets 2012: $1,199,920Liabilities 2012: $3,792Net Assets 2012: $1,196,1282012Assets 2013: $1,116,513Liabilities 2013: $474Net Assets 2013: $1,116,0392013Assets 2014: $1,108,398Liabilities 2014: $473Net Assets 2014: $1,107,9252014Assets 2015: $1,134,978Liabilities 2015: $475Net Assets 2015: $1,134,5032015Assets 2016: $1,166,030Liabilities 2016: $475Net Assets 2016: $1,165,5552016Assets 2017: $1,249,920Liabilities 2017: $474Net Assets 2017: $1,249,4462017Assets 2018: $1,323,931Liabilities 2018: $477Net Assets 2018: $1,323,4542018Assets 2019: $1,351,936Liabilities 2019: $477Net Assets 2019: $1,351,4592019Assets 2020: $1,194,233Liabilities 2020: $477Net Assets 2020: $1,193,7562020Assets 2021: $1,164,657Liabilities 2021: $478Net Assets 2021: $1,164,1792021Assets 2022: $1,214,952Liabilities 2022: $480Net Assets 2022: $1,214,4722022Assets 2023: $1,329,436Liabilities 2023: $474Net Assets 2023: $1,328,9622023Assets 2024: $1,363,327Liabilities 2024: $474Net Assets 2024: $1,362,8532024Assets 2025: $1,373,086Liabilities 2025: $474Net Assets 2025: $1,372,6122025

Highlighted filing

2017

Assets$1,249,920
Liabilities$474
Net Assets$1,249,446
Open 2017 Filing

Operations Trend

Revenue Growth80th percentile

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

$400K$200K$0-$200KExpenses 2011: $127,8842011Expenses 2012: $132,1092012Expenses 2013: $139,2922013Revenue 2014: $97,780Expenses 2014: $106,050Net Income 2014: -$8,2702014Revenue 2015: $162,168Expenses 2015: $135,590Net Income 2015: $26,5782015Revenue 2016: $137,598Expenses 2016: $106,546Net Income 2016: $31,0522016Revenue 2017: $179,380Expenses 2017: $95,489Net Income 2017: $83,8912017Revenue 2018: $154,685Expenses 2018: $80,677Net Income 2018: $74,0082018Revenue 2019: $180,854Expenses 2019: $154,674Net Income 2019: $26,1802019Revenue 2020: $209,839Expenses 2020: $367,542Net Income 2020: -$157,7032020Revenue 2021: $218,129Expenses 2021: $247,706Net Income 2021: -$29,5772021Revenue 2022: $248,639Expenses 2022: $198,346Net Income 2022: $50,2932022Revenue 2023: $314,680Expenses 2023: $199,672Net Income 2023: $115,0082023Revenue 2024: $278,738Expenses 2024: $244,847Net Income 2024: $33,8912024Revenue 2025: $292,973Expenses 2025: $283,214Net Income 2025: $9,7592025

Highlighted filing

2017

Revenue$179,380
Expenses$95,489
Net Income$83,891
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2016 to Apr 30, 2017
Signed
Jul 13, 2017
Return Version
2016v3.0
Gross Receipts
$179,380
Mission and Program Overview

Mission

Provide financial assistance to graduates of the toledo public school system in obtaining a four year or higher degree at a college or university of the student's choice.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$878,244$878,244→ $0
Investments Program Related$742,190$710,959▼ $31,231
Investments in Publicly Traded Securities$280,000$460,000▲ $180,000
Rtn Earn Endowment Incm Other Fnds$287,311$371,202▲ $83,891
Savings and Temporary Cash Investments$143,840$78,961▼ $64,879
Total Assets$1,166,030$1,249,920▲ $83,890
Liabilities
Accounts Payable and Accrued Expenses$475$474▼ $1
Total Liabilities$475$474▼ $1
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,165,555$1,249,446▲ $83,891
Total Liabilities and Net Assets / Fund Balance$1,166,030$1,249,920▲ $83,890

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$710,959--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$3,606,517-▲ $129,131$10,765$3,551,001
2015$3,640,647-▲ $141,138$10,341$3,606,517
2014$3,408,881-▲ $394,835$11,162$3,640,647
2013$2,788,633-▲ $766,579$9,874$3,408,881
2012$2,557,110-▲ $364,887$10,101$2,788,633
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleBaseOtherTotal
B Thomas HandworkTreasurer -$4,288$16,571$20,859
Grant M KeuneAsst Treasur$3,938$1,950$5,888

Board Members and Trustees

NameTitle
Dr Romules DurantCommittee Me
Robert VesquezCommittee Me
Revenue and Support

Revenue Composition

Contributions and Grants
$173,539
Program Service Revenue
$705
Investment Income
$5,136
Other Revenue
$0
Change in Net Assets
$83,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$49,500
Salaries, Compensation, and Employee Benefits$35,195
Other Expenses$10,794
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$49,500--$49,500
Other Salaries and Wages$13,422$13,423-$26,845
Current Officers, Directors, Trustees, and Key Employees$2,975$2,975-$5,950
Occupancy$2,334$2,334-$4,668
Payroll Taxes$1,200$1,200-$2,400
Fees for Services Accounting$1,137$1,138-$2,275
Fees for Services Other$807$108-$915
Other Expenses$200$1,293-$200
Fees for Service Investment Mgmnt Fees-$150-$150
Total Functional Expenses$72,868$22,621$0$95,489
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
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

“The return preparer emails a copy of the completed form 990 to each current director before filing with the internal revenue service.”

Form 990, Page 6, Part VI, Line 19

“Via united states postal service upon request.”

Filing and Contact Details

Filer

Filer Name
Joseph L Wolcott Scholarship Fund
EIN
34-6515331
Phone
4192418042
Address
405 MADISON AVENUE SUITE 1470, TOLEDO, OH 43604-1207

Signing Officer

Name
B Thomas Handwork
Title
Treasurer - Comm Mem
Phone
4192418042
Signed
2017-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
B Thomas Handwork
Formed
1931
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
2
Employees
1
Volunteers
2

Preparer

Firm
Trustax LLC
Address
6455 WHEATSTONE CT, MAUMEE, OH 43537-9403
Preparer
Grant M Keune
Phone
4198685555
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“The purpose of the endowed funds are to furnish or helping to furnish college or university education to graduates of toledo public schools.”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE SUPPORTED ORGANIZATION HAS A SIGNIFICANT VOICE IN INVESTMENT POLICY AND DIRECTING THE USE OF INCOME BECAUSE TWO OF THE FUNDS'S FOUR VOTING DIRECTORS SERVE ON THE GOVERNING BODY OF THE SUPPORTED ORGANIZATION. THE FUND'S DIRECTORS ESTABLISH INVESTMENT POLICY. ALSO, THE FUND'S DIRECTORS DIRECT THE USE OF INCOME BY SELECTION OF THE SCHOLARSHIP LOAN RECIPIENTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE JOSEPH L WOLCOTT SCHOLARSHIP FUND FURTHERS THE EXEMPT PURPOSE OF THE TOLEDO PUBLIC SCHOOL DISTRICT BY ASSISTING ITS GRADUATES TO OBTAIN A POST SECONDARY EDUCATION. THE FUND IS RESPONSIVE TO THE DISTRICT BECAUSE THE DISTRICT BOARD PRESIDENT AND SUPERINTENDENT ARE VOTING MEMBERS OF THE FUND'S BOARD. PROVIDING ASSISTANCE TO DISTRICT GRADUATES IS THE SOLE ACTIVITY OF THE FUND.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE TOLEDO PUBLIC SCHOOL DISTRICT DOES PROVIDE POST SECONDARY EDUCATIONAL OPPORTUNITIES TO ITS RESIDENTS SUCH AS ADVANCE PLACEMENT COURSES. IT IS REASONABLE TO ASSUME THAT THE DISTRICT WOULD PROVIDED ADDITIONAL POST SECONDARY EDUCATIONAL OPPORTUNITIES SUCH AS THOSE PROVIDED BY THE JOSEPH L WOLCOTT SCHOLARSHIP FUND IF FINANCIAL MEANS WERE AVAILABLE.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VIA UNITED STATES POSTAL SERVICE UPON REQUEST.
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ReturnHeader/Filer/EIN0346515331

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,249,920
Liabilities
$474
Net assets
$1,249,446
Revenue
$179,380
Expenses
$95,489
Net income
$83,891
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$0.29$0.28$0.01
2024Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$0.28$0.24$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.33$0.00$1.33$0.31$0.20$0.12
2022Detailed filing. Detailed filing data is available for this year.$1.21$0.00$1.21$0.25$0.20$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.22$0.25$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.21$0.37$0.16
2019Detailed filing. Detailed filing data is available for this year.$1.35$0.00$1.35$0.18$0.15$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.32$0.00$1.32$0.15$0.08$0.07
2017Detailed filing. Detailed filing data is available for this year.$1.25$0.00$1.25$0.18$0.10$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$0.14$0.11$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.16$0.14$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$0.10$0.11$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.00$1.12$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.00$1.20$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.00$1.22$0.13