MELROSE HIGH SCHOOL PERMANENT SCHOLARSHIP FUND

EIN: 046116247 501(c)(3) Education

MELROSE, MA

Total Revenue
$638,167
Total Expenses
$545,264
Total Assets
$9,939,943
Net Assets
$9,325,190
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1964
Legal Domicile
MA
Principal Officer
SUSAN SULLIVAN
Phone
7819561922
Tax Period
2022-07-01 to 2023-06-30

MELROSE HIGH SCHOOL PERMANENT SCHOLARSHIP FUND, founded in 1964, is a small nonprofit in the Education sector that reported $638K in total revenue in fiscal year 2022. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $545K left a modest 15% surplus.

Mission

SCHOLARSHIP ASSISTANCE TO GRADUATES OF MELROSE HIGH SCHOOL

Program Service Accomplishments

Program 1
Expenses: $460,875 Revenue: $0

APPROXIMATELY 350 SCHOLARSHIPS AWARDED TO 263 STUDENTS GRADUATING FROM MELROSE HIGH SCHOOL WERE PAID TO THE RESPECTIVE COLLEGES AND UNIVERSITIES THAT THE STUDENTS WERE ATTENDING.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $194,098
Program Service Revenue $0
Investment Income $433,543
Other Revenue $10,526
TOTAL REVENUE $638,167

Expense Breakdown

Grants Paid $460,875
Salaries & Benefits $28,219
Fundraising Expenses $0
Program Expenses $460,875
Other Expenses $56,170
TOTAL EXPENSES $545,264

Year-over-Year Comparison

2022 2021 Change
Revenue $638,167 $430,231 +0.5%
Expenses $545,264 $337,455 +0.6%
Net Income $92,903 $92,776 +0.0%
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

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Liquidity & Cash Position

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

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Governance

Voting Members
17
Independent Members
17
Employees
N/A
Volunteers
10

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
3
$5,000
Total Directors
3
$5,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LINDA WHELAN PRESIDENT 2.00
Officer
$0 $0 $0
SUSAN CAFFEY SECRETARY 2.00
Officer
$0 $0 $0
MARK HUTCHINSON TRUSTEE 1.00
Director
$0 $0 $0
ROBERT SAVARINO TRUSTEE 1.00
Director
$0 $0 $0
SUSAN SULLIVAN TREASURER 5.00
Officer Director
$5,000 $0 $5,000
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
2024 No data No data No data No data
2023 $638,167 $545,264 $9,939,943 $92,903
2022 $430,231 $337,455 $10,022,994 $92,776
2021 $516,436 $424,424 $9,886,220 $92,012
2019 $558,314 $379,433 $7,896,432 $178,881
2018 $451,479 $370,643 $7,472,956 $80,836
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