Civic Intelligence

Gloucester Scholarship Foundation Inc

EIN 46-4340095 • 501(c)3 • Gloucester, MA

Profile

To expand access to higher education for students of gloucester high school, gloucester, massachusetts by raising funds for student aid distribution and distributing awards to such students on a fair and non-discriminatory basis.

C/O 109 Main StreetGloucester, MA 01930

n/A

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

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

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

19th percentile

0.00x

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

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

42nd percentile

1.1%

Higher net margin than 42% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

39th percentile

0.3%

Faster asset growth than 39% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

9th percentile

-33%

Faster revenue growth than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$1,700,940

Up $50,095 (+3.0%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$1,700,940

Up $50,095 (+3.0%) from 2023

Operations
Liabilities / Revenue19th percentileNet Margin42nd percentile

Revenue

Up

$126,301

Up $70,258 (+125%) from 2023

Expenses

Up

$72,915

Up $17,462 (+31%) from 2023

Net Income

Up

$53,386

Up $52,796 (+8948%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth39th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2014: $1,252,951Liabilities 2014: $0Net Assets 2014: $1,252,9512014Assets 2015: $1,371,801Liabilities 2015: $0Net Assets 2015: $1,371,8012015Assets 2016: $1,440,683Liabilities 2016: $0Net Assets 2016: $1,440,6832016Assets 2017: $1,627,361Liabilities 2017: $0Net Assets 2017: $1,627,3612017Assets 2018: $1,403,197Liabilities 2018: $0Net Assets 2018: $1,403,1972018Assets 2019: $1,534,509Liabilities 2019: $0Net Assets 2019: $1,534,5092019Assets 2020: $1,541,825Liabilities 2020: $0Net Assets 2020: $1,541,8252020Assets 2021: $1,622,142Liabilities 2021: $0Net Assets 2021: $1,622,1422021Assets 2022: $1,646,388Liabilities 2022: $0Net Assets 2022: $1,646,3882022Assets 2023: $1,650,845Liabilities 2023: $0Net Assets 2023: $1,650,8452023Assets 2024: $1,700,940Liabilities 2024: $0Net Assets 2024: $1,700,9402024

Highlighted filing

2024

Assets$1,700,940
Liabilities$0
Net Assets$1,700,940
Open 2024 Filing

Operations Trend

Revenue Growth9th percentile

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

$200K$150K$100K$50K$0Revenue 2014: $79,692Expenses 2014: $47,725Net Income 2014: $31,9672014Revenue 2015: $47,697Expenses 2015: $37,793Net Income 2015: $9,9042015Revenue 2016: $127,983Expenses 2016: $118,445Net Income 2016: $9,5382016Revenue 2017: $162,710Expenses 2017: $63,509Net Income 2017: $99,2012017Revenue 2018: $88,442Expenses 2018: $56,794Net Income 2018: $31,6482018Revenue 2019: $183,212Expenses 2019: $51,810Net Income 2019: $131,4022019Revenue 2020: $57,588Expenses 2020: $49,163Net Income 2020: $8,4252020Revenue 2021: $150,645Expenses 2021: $70,800Net Income 2021: $79,8452021Revenue 2022: $84,249Expenses 2022: $62,354Net Income 2022: $21,8952022Revenue 2023: $56,043Expenses 2023: $55,453Net Income 2023: $5902023Revenue 2024: $126,301Expenses 2024: $72,915Net Income 2024: $53,3862024

Highlighted filing

2024

Revenue$126,301
Expenses$72,915
Net Income$53,386
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,700,940
Liabilities
$0
Net assets
$1,700,940
Revenue
$126,301
Expenses
$72,915
Net income
$53,386
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$0.13$0.07$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$0.06$0.06$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$0.08$0.06$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.62$0.00$1.62$0.15$0.07$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$0.06$0.05$0.01
2019Summary only. Only limited summary data is available for this year.$1.53$0.00$1.53$0.18$0.05$0.13
2018Summary only. Only limited summary data is available for this year.$1.40$0.00$1.40$0.09$0.06$0.03
2017Summary only. Only limited summary data is available for this year.$1.63$0.00$1.63$0.16$0.06$0.10
2016Summary only. Only limited summary data is available for this year.$1.44$0.00$1.44$0.13$0.12$0.01
2015Summary only. Only limited summary data is available for this year.$1.37$0.00$1.37$0.05$0.04$0.01
2014Summary only. Only limited summary data is available for this year.$1.25$0.00$1.25$0.08$0.05$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 28, 2025
Return Version
2024v5.1
Gross Receipts
$399,035
Mission and Program Overview

Mission

To expand access to higher education for students of gloucester high school, gloucester, massachusetts by raising funds for student aid distribution and distributing awards to such students on a fair and non-discriminatory basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,650,845$1,700,940▲ $50,095
Investments in Publicly Traded Securities$1,094,299$1,324,271▲ $229,972
Savings and Temporary Cash Investments$556,546$376,248▼ $180,298
Cash and Non-Interest-Bearing Accounts-$421-
Total Assets$1,650,845$1,700,940▲ $50,095
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,650,845$1,700,940▲ $50,095
Total Liabilities and Net Assets / Fund Balance$1,650,845$1,700,940▲ $50,095
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Lawrence IngersollPresident
Annette CampbellVice President/treasurer
Jennifer DortBoard Member
Michael SikorskiBoard Member
Nancy MertensBoard Member
Kathryn WilliamsSecretary/board Member
Revenue and Support

Revenue Composition

Contributions and Grants
$5,203
Program Service Revenue
$0
Investment Income
$115,395
Other Revenue
$5,703
All Other Contributions
$5,203
Change in Net Assets
$53,386
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$59,800
Other Expenses$13,115
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$59,800--$59,800
Fees for Service Investment Mgmnt Fees-$11,883-$11,883
Fees for Services Accounting-$900-$900
Fees for Services Other-$332-$332
Total Functional Expenses$59,800$13,115$0$72,915
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
Annual disclosure for covered persons
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
Yes
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 11-description of Process for Review

“Form 990 is reviewed by a trust officer for completeness and accuracy .”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12C

“At its annual meeting the organization requires all members to report any conflicts of interest.”

Form 990, Page 6, Part VI, Line 19

“The trust document, conflict of interest policy and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Gloucester Scholarship Foundation Inc
EIN
46-4340095
Phone
9782837079
Address
C/O 109 MAIN STREET, GLOUCESTER, MA 01930

Signing Officer

Name
Lawrence Ingersoll
Title
President
Phone
9782837079
Signed
2025-03-28
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
Ma
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Trust Processing Solutions
Address
P O BOX 894, MILFORD, OH 45150-0894
Preparer
Doug Hart
Phone
5137748805
Supplemental Narrative

Additional Explanations

Explanation for Form 990, Part XI, Line 9

“Mutual fund timing and return of capital adjustments”

Raw XML Appendix312 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.

Path#Value
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IRS990/AllOtherContributionsAmt05203
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IRS990/BooksInCareOfDetail/USAddress/CityNm0GLOUCESTER
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd001930
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IRS990/Desc0SCHOLARSHIPS
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IRS990/ForeignActivitiesInd0false
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/PersonNm0NANCY MERTENS
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY/BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02013
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/SecuritiesAmt061692
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt00
IRS990/GrantAmt059800
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt059800
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt059800
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0true
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0334426
IRS990/GrossReceiptsAmt0399035
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt00
IRS990/IndoorTanningServicesInd0false
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt01094299
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IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LoanOutstandingInd0false
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
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IRS990/OrgDoesNotFollowFASB117Ind0X
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE PAID DIRECTLY TO EDUCATIONAL INSTITUTIONS ON BEHALF OF RECIPIENTS
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY A TRUST OFFICER FOR COMPLETENESS AND ACCURACY .
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT ITS ANNUAL MEETING THE ORGANIZATION REQUIRES ALL MEMBERS TO REPORT ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE TRUST DOCUMENT, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MUTUAL FUND TIMING AND RETURN OF CAPITAL ADJUSTMENTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3EXPLANATION FOR FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-28
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ReturnHeader/ReturnTs02025-03-28T11:01:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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