Civic Intelligence

Worcester Educational Development Foundation Inc.

990 • Fiscal year 2017 • EIN 56-2522670

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

Organization ProfileWWW.WPSWEB.COM/ADMINISTRATION/WEDF
210 PARK AVENUE No 224Worcester, MA 01609

(508) 799-3663

Siviq Scores

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

Liabilities / Assets

67th percentile

0.03x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

69th percentile

0.02x

Higher debt load relative to revenue than 69% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

62nd percentile

8.9%

Higher net margin than 62% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

61st percentile

9.1%

Faster asset growth than 61% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

63rd percentile

10%

Faster revenue growth than 63% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$390,751

Up $32,578 (+9.1%) from 2016

Net Assets

Up

$380,691

Up $39,628 (+12%) from 2016

Liabilities

Down

$10,060

Down $7,050 (-41%) from 2016

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin62nd percentile

Revenue

Up

$443,678

Up $41,443 (+10%) from 2016

Expenses

Down

$404,050

Down $26,835 (-6.2%) from 2016

Net Income

Up

$39,628

Up $68,278 (+238%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$800K$600K$400K$200K$0Assets 2011: $159,378Liabilities 2011: $9,156Net Assets 2011: $150,2222011Assets 2012: $155,439Liabilities 2012: $2,500Net Assets 2012: $152,9392012Assets 2013: $203,344Liabilities 2013: $6,295Net Assets 2013: $197,0492013Assets 2014: $267,242Liabilities 2014: $18,586Net Assets 2014: $248,6562014Assets 2015: $382,528Liabilities 2015: $12,814Net Assets 2015: $369,7142015Assets 2016: $358,173Liabilities 2016: $17,110Net Assets 2016: $341,0632016Assets 2017: $390,751Liabilities 2017: $10,060Net Assets 2017: $380,6912017Assets 2018: $410,448Liabilities 2018: $10,049Net Assets 2018: $400,3992018Assets 2019: $397,630Liabilities 2019: $16,237Net Assets 2019: $381,3932019Assets 2020: $440,578Liabilities 2020: $14,121Net Assets 2020: $426,4572020Assets 2021: $404,067Liabilities 2021: $13,387Net Assets 2021: $390,6802021Assets 2022: $620,760Liabilities 2022: $21,728Net Assets 2022: $599,0322022Assets 2023: $438,744Liabilities 2023: $52,881Net Assets 2023: $385,8632023Assets 2024: $796,100Liabilities 2024: $18,569Net Assets 2024: $777,5312024

Highlighted filing

2017

Assets$390,751
Liabilities$10,060
Net Assets$380,691
Open 2017 Filing

Operations Trend

Revenue Growth63rd percentile

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

$1.0M$500K$0-$500KExpenses 2011: $195,5872011Expenses 2012: $231,8602012Expenses 2013: $229,9732013Revenue 2014: $363,434Expenses 2014: $311,827Net Income 2014: $51,6072014Revenue 2015: $411,428Expenses 2015: $290,370Net Income 2015: $121,0582015Revenue 2016: $402,235Expenses 2016: $430,885Net Income 2016: -$28,6502016Revenue 2017: $443,678Expenses 2017: $404,050Net Income 2017: $39,6282017Revenue 2018: $485,933Expenses 2018: $466,225Net Income 2018: $19,7082018Revenue 2019: $448,612Expenses 2019: $467,618Net Income 2019: -$19,0062019Revenue 2020: $507,282Expenses 2020: $462,218Net Income 2020: $45,0642020Revenue 2021: $118,537Expenses 2021: $154,314Net Income 2021: -$35,7772021Revenue 2022: $797,236Expenses 2022: $577,595Net Income 2022: $219,6412022Revenue 2023: $438,392Expenses 2023: $657,119Net Income 2023: -$218,7272023Revenue 2024: $994,872Expenses 2024: $614,129Net Income 2024: $380,7432024

Highlighted filing

2017

Revenue$443,678
Expenses$404,050
Net Income$39,628
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 30, 2018
Return Version
2016v3.0
Gross Receipts
$452,268
Mission and Program Overview

Mission

To collaborate with the worcester public schools to provide programs and resources to improve learning and success for students. We are working to eliminate barriers to students reaching their full academic potential by supporting rich opportunities for students including arts and culture, athletics, and health and wellness.

Improving educational opportunities for the students of the worcester public schools by developing and providing for innovative educational and staff development programs by assisting and facilitating management operations; by providing incentives and scholarships to the students; and by serving the general needs of the worcester public schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$336,406$372,541▲ $36,135
Prepaid Expenses and Deferred Charges$21,767$18,210▼ $3,557
Total Assets$358,173$390,751▲ $32,578
Liabilities
Accounts Payable and Accrued Expenses$17,110$10,060▼ $7,050
Total Liabilities$17,110$10,060▼ $7,050
Net Assets / Fund Balance
Temporarily Rstr Net Assets$221,887$267,988▲ $46,101
Unrestricted Net Assets$119,176$112,703▼ $6,473
Total Net Assets Fund Balance$341,063$380,691▲ $39,628
Total Liabilities and Net Assets / Fund Balance$358,173$390,751▲ $32,578
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Louise ClarkeExecutive Director and VicPT$17,590$17,590

Board Members and Trustees

NameTitle
Stephen M PitcherPresident
Maria Gorsuch-kennedyFirst Vice President
Jamie HoagTrustee
Joseph MacDougall JrTrustee
Kathleen FinneganTrustee
Kimberly SalmonTrustee
Linda LarriveeTrustee
Maureen BiniendaTrustee
Megan MarszalekTrustee
Michael LyonsTrustee
Omar VelasquezTrustee
Susan O'NeilTrustee
John MonfredoClerk
Frances ArenaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$419,565
Program Service Revenue
$0
Investment Income
$1,105
Other Revenue
$23,008
All Other Contributions
$407,065
Change in Net Assets
$39,628

Audited Revenue Reconciliation

Revenue per Audited Statements
$443,678
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$8,590
Total Revenue per Audited Statements
$452,268
Total Revenue per Form 990
$443,678
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$394,454
Grants and Similar Amounts Paid$9,596
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel$65,090--$65,090
Other Expenses$25,131$29,320-$25,131
All Other Expenses$3,560$6,185-$9,745
Grants to Domestic Individuals$9,596--$9,596
Fees for Services Accounting-$6,390-$6,390
Insurance-$3,563-$3,563
Total Functional Expenses$358,592$45,458$0$404,050

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$412,640
Expenses per Audited Statements$404,050
Total Expenses per Form 990$404,050
Expenses Not Reported on Form 990$8,590
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$31,598
Fundraising Direct Expenses$8,590
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Distinguished Alumni Event$19,563$9,563$2,857$6,706
Hall of fame$12,035$9,535$5,733$3,802
Total Events$31,598$19,098$20,445$-1,347
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
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The form 990 is presented to the foundation's vice president and treasurer, and is reviewed before it is filed. The vice president and treasurer report significant matters relating to the 990, if any, to the board of directors.”

Form 990, Part VI, Section B, line 12C

“Each member of the board of directors is well apprised of the foundation's conflict of interest policy. New members are made aware of it through various new member orientation procedures. All members are required to inform the foundation of changes to their own conflict of interest status.”

Form 990, Part VI, Section C, line 19

“By virtue of a copy of the federal form 990 and the audited financial statements having to accompany the ma form pc submitted to the attorney general division of public charities, which is a public document, financial statements of the foundation are readily available to the public. The foundation's governing documents and conflict of interest policies are not made available to the general public, but are available upon request.”

Filing and Contact Details

Filer

Filer Name
Worcester Educational Development
EIN
56-2522670
Phone
5087993663
Address
210 PARK AVENUE No 224, WORCESTER, MA 01609

Signing Officer

Name
Frances Arena
Title
Treasurer
Phone
5087993663
Signed
2018-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
frances arena
Formed
2005
Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
100

Preparer

Firm
Robert C Alario CPA Pc
Address
292 PARK AVENUE, WORCESTER, MA 01609
Preparer
Robert C Alario
Phone
5087557575
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

“Fundraising income is netted on the 990 8,590.”

Part XII, Line 2D - Other Adjustments:

“Fundraising expenses are netted on the 990 8,590.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3EXECUTIVE DIRECTOR AND VIC
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IRS990/OtherExpensesGrp/ProgramServicesAmt325131
IRS990/OtherExpensesGrp/TotalAmt0209673
IRS990/OtherExpensesGrp/TotalAmt142742
IRS990/OtherExpensesGrp/TotalAmt232120
IRS990/OtherExpensesGrp/TotalAmt325131
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021767
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt018210
IRS990/PrincipalOfficerNm0frances arena
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0COLLEGE/CAREER READINESS PROGRAMS INCLUDING EDUCATIONAL PROGRAMS, MATERIALS & SUPPLIES AND SCHOLARSHIPS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt079860
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt094899
IRS990/ProgSrvcAccomActy3Grp/Desc0Coats for Kids provides warm winter outerwear for children in the district.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt027426
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt025522
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt045159
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt09597
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt070130
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0378765
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt014236
IRS990/PYInvestmentIncomeAmt01008
IRS990/PYOtherExpensesAmt0416649
IRS990/PYOtherRevenueAmt022462
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-28650
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0430885
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0402235
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt039628
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0224515
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt012500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt037156
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt043882
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0122560
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt030757
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0246855
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01105
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01008
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01210
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0897
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0770
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt04990
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0407065
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0341609
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0365329
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0204130
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0209281
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01527414
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01105
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01008
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01210
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0897
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0770
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt04990
IRS990ScheduleA/InvestmentIncomeCYPct00.00280
IRS990ScheduleA/InvestmentIncomePYPct00.00280
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99720
IRS990ScheduleA/PublicSupportPY509Pct00.99720
IRS990ScheduleA/PublicSupportTotal509Amt01774269
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0419565
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0378765
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0409211
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0326690
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0240038
IRS990ScheduleA/Total509Grp/TotalAmt01774269
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0420670
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0379773
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0410421
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0327587
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0240808
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01779259
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt08590
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0404050
IRS990ScheduleD/OtherExpensesIncludedAmt08590
IRS990ScheduleD/OtherRevenueAmt08590
IRS990ScheduleD/RevenueNotReportedAmt08590
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0443678
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING INCOME IS NETTED ON THE 990 8,590.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES ARE NETTED ON THE 990 8,590.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0404050
IRS990ScheduleD/TotalRevenuePerForm990Amt0443678
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0452268
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0412640
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt012500
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt010000
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt02500
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt020445
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0DISTINGUISHED ALUMNI EVENT
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Hall of fame
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt019563
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt012035
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt031598
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt09563
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt09535
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt019098
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-1347
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt08590
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02857
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt05733
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt05470
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt06385
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt011855
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt09596
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIP AND GRANT ASSISTANCE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt019
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0COMMITTEES DETERMINE SCHOLARSHIP AWARDEES BASED ON ACADEMIC PERFORMANCE. COMMITTEES DETERMINE GRANT RECIPIENTS AFTER REVIEWING PROPOSALS DEVELOPED ACCORDING TO SPECIFIC GUIDELINES. AWARDEES ARE REQUIRED TO SUBMIT AN EVLAUTION AND RECEIPTS AT THE END OF THE GRANT PERIOD.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION GRANTS SCHOLARSHIPS/SUPPORT TO STUDENTS AND TEACHERS IN WORCESTER PUBLIC SCHOOLS. THE SCHOLARSHIP FUNDS ARE REMITTED DIRECTLY TO THE STUDENT OR TEACHER RECEIVING THE AWARD VIA A SIGNED CHECK. THE FOUNDATION'S STAFF FOLLOWS UP WITH EACH RECIPIENT TO ENSURE THAT THE SCHOLARSHIP WAS RECIVED BY THE INTENDED RECIPIENT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE I, PART III, COLUMN (B)
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PRESENTED TO THE FOUNDATION'S VICE PRESIDENT AND TREASURER, AND IS REVIEWED BEFORE IT IS FILED. THE VICE PRESIDENT AND TREASURER REPORT SIGNIFICANT MATTERS RELATING TO THE 990, IF ANY, TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER OF THE BOARD OF DIRECTORS IS WELL APPRISED OF THE FOUNDATION'S CONFLICT OF INTEREST POLICY. NEW MEMBERS ARE MADE AWARE OF IT THROUGH VARIOUS NEW MEMBER ORIENTATION PROCEDURES. ALL MEMBERS ARE REQUIRED TO INFORM THE FOUNDATION OF CHANGES TO THEIR OWN CONFLICT OF INTEREST STATUS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BY VIRTUE OF A COPY OF THE FEDERAL FORM 990 AND THE AUDITED FINANCIAL STATEMENTS HAVING TO ACCOMPANY THE MA FORM PC SUBMITTED TO THE ATTORNEY GENERAL DIVISION OF PUBLIC CHARITIES, WHICH IS A PUBLIC DOCUMENT, FINANCIAL STATEMENTS OF THE FOUNDATION ARE READILY AVAILABLE TO THE PUBLIC. THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC, BUT ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$390,751
Liabilities
$10,060
Net assets
$380,691
Revenue
$443,678
Expenses
$404,050
Net income
$39,628
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.96$0.19$7.78$9.95$6.14$3.81
2023Detailed filing. Detailed filing data is available for this year.$4.39$0.53$3.86$4.38$6.57$2.19
2022Detailed filing. Detailed filing data is available for this year.$6.21$0.22$5.99$7.97$5.78$2.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.04$0.13$3.91$1.19$1.54$0.36
2020Detailed filing. Detailed filing data is available for this year.$4.41$0.14$4.26$5.07$4.62$0.45
2019Detailed filing. Detailed filing data is available for this year.$3.98$0.16$3.81$4.49$4.68$0.19
2018Detailed filing. Detailed filing data is available for this year.$4.10$0.10$4.00$4.86$4.66$0.20
2017Detailed filing. Detailed filing data is available for this year.$3.91$0.10$3.81$4.44$4.04$0.40
2016Detailed filing. Detailed filing data is available for this year.$3.58$0.17$3.41$4.02$4.31$0.29
2015Detailed filing. Detailed filing data is available for this year.$3.83$0.13$3.70$4.11$2.90$1.21
2014Detailed filing. Detailed filing data is available for this year.$2.67$0.19$2.49$3.63$3.12$0.52
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.03$0.06$1.97$2.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.55$0.03$1.53$2.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$0.09$1.50$1.96