WELLESLEY SCHOLARSHIP FOUNDATION INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- WELLESLEY SCHOLARSHIP FOUNDATION INC (EIN 04-2392419)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-05-15
- IRS object ID
- 202301359349305125
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-15T10:54:17-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 043006399 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BAUMANN & BAUMANN CPAS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40 WALNUT STREET SUITE 301 | AddressLine1Txt |
| City | WELLESLEY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02481 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042392419 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WELLESLEY SCHOLARSHIP FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | WELL | BusinessNameControlTxt |
| Phone | 6176767901 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 81207 | AddressLine1Txt |
| City | WELLESLEY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02481 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NIKI BRINKMAN-OFENLOCH | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 6176767901 | PhoneNum |
| Signature | 2023-05-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | NIKI | PersonFirstNm |
| Person Last | BRINKMAN-OFENLOCH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KARL M BAUMANN | PreparerPersonNm |
| PTIN | P00118643 | PTIN |
| Phone | 7812390190 | PhoneNum |
| Preparation | 2023-05-15 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | NIKI BRINKMAN-OFENLOCH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 81207 | AddressLine1Txt |
| City | WELLESLEY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02481 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $458,040 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WELLESLEYSCHOLARSHIPFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1951 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE FINANCIAL ASSISTANCE TO POST-SECONDARY STUDENTS FROM WELLESLEY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 27 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 27 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $236,217 | PYContributionsGrantsAmt |
| CY Contributions Grants | $204,622 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $13,974 | PYInvestmentIncomeAmt |
| CY Investment Income | $253,418 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $250,191 | PYTotalRevenueAmt |
| CY Total Revenue | $458,040 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $352,505 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $367,050 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $4,947 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $23,113 | PYOtherExpensesAmt |
| CY Other Expenses | $30,735 | CYOtherExpensesAmt |
| PY Total Expenses | $375,618 | PYTotalExpensesAmt |
| CY Total Expenses | $397,785 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$125,427 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $60,255 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,181,511 | TotalAssetsBOYAmt |
| Total Assets EOY | $6,869,832 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $208,027 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $396,950 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $7,973,484 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $6,472,882 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE MERIT AND NEED-BASED SCHOLARSHIPS TO WELLESLEY RESIDENTS, AND TO NON-RESIDENTS OF WELLESLEY WHO ARE GRADUATES OF WELLESLEY HIGH SCHOOL, FOR POST-SECONDARY EDUCATION. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $367,050 | ExpenseAmt |
| Grant | $367,050 | GrantAmt |
| Desc | MERIT AND NEED-BASED SCHOLARSHIPS GRANTED TO WELLESLEY RESIDENTS, AND TO NON-RESIDENTS OF WELLESLEY WHO ARE GRADUATES OF WELLESLEY HIGH SCHOOL, FOR POST-SECONDARY EDUCATION. | Desc |
| Total Program Service Expenses | $367,050 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | Yes (1) | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 27 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 27 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NIKIBRINKMANYAHOOCOM | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6176767901 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 81207 | AddressLine1Txt |
| City | WELLESLEY | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02481 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| ALLISON SUNNY ALLEN | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| ANN MARIE GROSS | ||||||
| CO-PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| BRIAN BOYCE | ||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| CHRIS CAVALLERANO | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| DAN GROSS | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| DIANE CAMPBELL | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| ELIZABETH COOK | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| ELIZABETH ROGERS | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| JAMIE CHISUM | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| JULIE KOENINGER | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| KATHY SKELLY | ||||||
| CO-PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| KELTY WHITWORTH WHITE | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| LINDA CHOW | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| NORA TRACY PHILLIPS | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| PETER CORY | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| SARAH PEDERSEN | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| SUSAN CLAPHAM | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| TOM SMITH | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| STACY BRAATZ | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| NIKI BRINKMAN-OFENLOCH | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| MARIA CONCETTA CONNIE BURTON | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| LISA COLLINS | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| SABREENA KROPP | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| ILDI NIELSEN | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| MASON SMITH | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| NERINE WARASTA | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| DAVID LUSSIER | ||||||
| TRUSTEE | 0.50 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $204,622 | AllOtherContributionsAmt |
| Total Contributions | $204,622 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $46,804 | TotalRevenueColumnAmt |
| Exclusion | $46,804 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $206,614 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $206,614 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $206,614 | TotalRevenueColumnAmt |
| Exclusion | $206,614 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $458,040 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $253,418 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $367,050 | TotalAmt |
| Program Services | $367,050 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,910 | TotalAmt |
| Management And General | $11,910 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,216 | TotalAmt |
| Management And General | $6,216 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,035 | TotalAmt |
| Management And General | $7,162 | ManagementAndGeneralAmt |
| Fundraising | $3,873 | FundraisingAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | FundraisingFundraisingAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| POSTAGE AND DELIVERY | $1,074 | $1,074 | |
| CHARITY | $500 | $500 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $397,785 | TotalAmt |
| Program Services | $367,050 | ProgramServicesAmt |
| Management And General | $25,788 | ManagementAndGeneralAmt |
| Fundraising | $4,947 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,674 | BOYAmt |
| EOY | $156,923 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $625,626 | BOYAmt |
| EOY | $673,295 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,000 | BOYAmt |
| EOY | $20,000 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,473,211 | BOYAmt |
| EOY | $6,019,614 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,181,511 | BOYAmt |
| EOY | $6,869,832 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,527 | BOYAmt |
| EOY | $4,450 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $203,500 | BOYAmt |
| EOY | $392,500 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $208,027 | BOYAmt |
| EOY | $396,950 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,877,073 | BOYAmt |
| EOY | $4,476,642 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,096,411 | BOYAmt |
| EOY | $1,996,240 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,973,484 | BOYAmt |
| EOY | $6,472,882 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,181,511 | BOYAmt |
| EOY | $6,869,832 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $60,255 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,560,857 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | Yes (1) | AccountantCompileOrReviewInd |
Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| FS Audited | 0 | FSAuditedInd |
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $500,128 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $212,009 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $258,179 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $236,217 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $204,622 | CurrentTaxYearAmt |
| Total | $1,411,155 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $500,128 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $212,009 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $258,179 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $236,217 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $204,622 | CurrentTaxYearAmt |
| Total | $1,411,155 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $32,905 | SubstantialContributorsTotAmt |
| Public Support Total170 | $1,378,250 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $792,577 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $381,708 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,922 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $13,974 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $253,418 | CurrentTaxYearAmt |
| Total | $1,443,599 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $2,854,754 | TotalSupportAmt |
| Public Support CY170 | 0.48280 | PublicSupportCY170Pct |
| Public Support PY170 | 0.48550 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,248,611 | BeginningYearBalanceAmt |
| Contributions | $34,629 | ContributionsAmt |
| Investment Earnings Or Losses | -$110,800 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $24,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $3,148,440 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,094,358 | BeginningYearBalanceAmt |
| Contributions | $34,109 | ContributionsAmt |
| Investment Earnings Or Losses | $503,999 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $383,855 | GrantsOrScholarshipsAmt |
| End Year Balance | $3,248,611 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,059,777 | BeginningYearBalanceAmt |
| Contributions | $29,280 | ContributionsAmt |
| Investment Earnings Or Losses | $102,093 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $96,792 | GrantsOrScholarshipsAmt |
| End Year Balance | $3,094,358 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,042,542 | BeginningYearBalanceAmt |
| Contributions | $29,604 | ContributionsAmt |
| Investment Earnings Or Losses | $39,312 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $51,681 | GrantsOrScholarshipsAmt |
| End Year Balance | $3,059,777 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,006,511 | BeginningYearBalanceAmt |
| Contributions | $28,475 | ContributionsAmt |
| Investment Earnings Or Losses | $124,219 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $116,663 | GrantsOrScholarshipsAmt |
| End Year Balance | $3,042,542 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.36600 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.54350 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.09050 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| TIFF GLOBAL EQUITY FUND | $4,111,944 | F |
| FIDELITY SHORT TERM BOND (FSHBX) | $1,866,545 | F |
| VANGUARD STAR FUND | $41,125 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $6,019,614 | TotalBookValueSecuritiesAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | TO PROVIDE FINANCIAL ASSISTANCE (SCHOLARSHIPS) TO POST-SECONDARY STUDENTS. |
| PART X, LINE 2: | THE FOUNDATION'S FEDERAL RETURNS FOR THE YEARS ENDED JUNE 30, 2019 THROUGH JUNE 30, 2022 ARE SUBJECT TO EXAMINATION BY THE IRS AND MASSACHUSETTS ATTORNEY GENERAL'S OFFICE. THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. FINANCIAL ACCOUNTING STANDARDS BOARD ASC 740-10 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ORGANIZATION SHOULD MEASURE, RECOGNIZE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT AN ORGANIZATION HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. THE FOUNDATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2022 OR JUNE 30, 2021. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | PRIMARILY NEED-BASED SCHOLARSHIPS FOR POST SECONDARY EDUCATION OF WELLESLEY RESIDENTS MADE PAYABLE TO THE POST SECONDARY SCHOOL. | GrantTypeTxt |
| Recipient | 98 | RecipientCnt |
| Cash Grant | $367,050 | CashGrantAmt |
| Valuation Method Used | BOOK | ValuationMethodUsedDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE SCHOLARSHIP COMMITTEE APPROVES THE STUDENT SCHOLARSHIPS AFTER RECEIVING THE STUDENT'S APPLICATION. SCHOLARSHIP CHECKS ARE MADE PAYABLE TO THE SCHOOL THAT THE STUDENT ATTENDS. THE TREASURER VERIFIES THAT THE SCHOOL HAS CASHED THE CHECK AND THE COMMITEE VERIFIES THAT THE STUDENT IS ATTENDING THE SCHOOL AND IS MEETING THE TERMS OF THE SCHOLARSHIP. | ExplanationTxt |
Schedule L IRS990ScheduleL
Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CHRIS CAVALLERANO | PersonNm |
| Relationship With Org | TRUSTEE | RelationshipWithOrgTxt |
| Cash Grant | $500 | CashGrantAmt |
| Type Of Assistance | SCHOLARSHIP | TypeOfAssistanceTxt |
| Assistance Purpose | TUITION ASSISTANCE | AssistancePurposeTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | ANN MARIE GROSS, A CO-PRESIDENT, IS MARRIED TO DAN GROSS, A TRUSTEE. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS MEMBERS WHO ARE ELECTED AT THE ANNUAL MEETING OF THE CORPORATION. THE MEMBERS ELECT THE TRUSTEES. ALL TRUSTEES ARE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE ORGANIZATION HAS MEMBERS WHO ARE ELECTED AT THE ANNUAL MEETING OF THE CORPORATION. THE MEMBERS ELECT THE TRUSTEES. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERS HAVE THE POWER TO AMEND THE ORGANIZATION'S BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE TREASURER, THE AUDIT COMMITTEE AND THE BOARD OF TRUSTEES REVIEW THE FORM 990 BEFORE IT IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE AUDIT COMMITTEE MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. AN ANNUAL CONFLICT OF INTEREST STATEMENT IS COMPLETED BY EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE AND IS REVIEWED BY THE COMMITTEE. |
| FORM 990, PART VI, SECTION C, LINE 18 | THE ORGANIZATION'S BOARD OF TRUSTEES MAKES THE FORMS AVAILABLE FOR PUBLIC INSPECTION ON A PER REQUEST BASIS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE BOARD MAKES THE DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION ON A PER REQUEST BASIS. |
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