MORSE HIGH SCHOOL SCHOLARSHIP FUND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1965

Legal Domicile

Principal Officer

LAURI RAINEY

Phone

2074438250

Tax Period

2024-07-01 to 2025-06-30

MORSE HIGH SCHOOL SCHOLARSHIP FUND, founded in 1965, is a small nonprofit in the Education sector that reported $782K in total revenue in fiscal year 2024. Revenue surged 279% from the prior year, signaling strong growth momentum. The organization ran a surplus of $444K, a strong 57% operating margin.

Mission

THE ORGANIZATION PROVIDES SCHOLARSHIPS, GRANTS AND ACHIEVEMENT AWARDS TO GRADUATES OF MORSE HIGH SCHOOL, BATH, MAINE.

Program Service Accomplishments

Program 1

Expenses: $300,109

SCHOLARSHIPS, GRANTS, AND ACHIEVEMENT AWARDS TO GRADUATES OF MORSE HIGH SCHOOL, BATH, ME.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $288,367

Program Service Revenue $0

Investment Income $493,508

Other Revenue $0

TOTAL REVENUE $781,875

Expense Breakdown

Grants Paid $300,109

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $300,109

Other Expenses $37,806

TOTAL EXPENSES $337,915

Year-over-Year Comparison

	2024	2023	Change
Revenue	$781,875	$206,395	+2.8%
Expenses	$337,915	$249,958	+0.4%
Net Income	$443,960	$-43,563	-11.2%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
BRAD WALFIELD	VICE PRESIDENT	Officer Director	$0	$0	$0
LAURI I RAINEY	TREASURER	Officer Director	$0	$0	$0
DAVID SOULE JR	DIRECTOR	Director	$0	$0	$0
BRIAN HATCH	DIRECTOR	Director	$0	$0	$0
KIMBERLY WILLIAMS	DIRECTOR	Director	$0	$0	$0
LESLIE GALLANT	SECRETARY	Officer Director	$0	$0	$0
JESSICA AVERY	PRESIDENT	Officer Director	$0	$0	$0
HOLLY LOWE	DIRECTOR	Director	$0	$0	$0
LEIGH ANN CARD	DIRECTOR	Director	$0	$0	$0
GENIENE MARCO	DIRECTOR	Director	$0	$0	$0
DEBORAH P CASHMAN	DIRECTOR	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$781,875	$337,915	$3,957,936	$443,960
2024	$206,395	$249,958	$3,513,976	$-43,563
2023	$191,964	$296,287	$3,557,539	$-104,323
2022	$401,516	$230,788	$3,661,862	$170,728
2021	$412,054	$222,305	$3,491,134	$189,749