DR MARTIN LUTHER KING SCHOLARSHIP FUND

EIN: 066107846 501(c)(3) Education

NEW LONDON, CT

Total Revenue
$343,082
Total Expenses
$369,875
Total Assets
$2,372,514
Net Assets
$2,372,514
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
CT
Principal Officer
BIRSE TIMMONS
Phone
8603334666
Tax Period
2024-05-01 to 2025-04-30

DR MARTIN LUTHER KING SCHOLARSHIP FUND, founded in 1968, is a small nonprofit in the Education sector that reported $343K in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Net assets of $2.4M represent 83 months of operating reserves.

Mission

DR MARTIN LUTHER KING SCHOLARSHIP FUND IS A NONPROFIT NONSTOCK CORPORATION DEDICATED TO DEVELOPING AND MAINTAINING A COORDINATED NETWORK OF COMMUNITY RESOURCES FOR YOUNG PEOPLE AND THEIR FAMILIES AND BROADENING AND DEEPENING PUBLIC AWARENESS OF AND COMMITMENT TO SOCIETY'S RESPONSIBILITY FOR RESPONDING TO THE NEEDS OF YOUTH AND THEIR FAMILIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $292,768
Program Service Revenue $0
Investment Income $57,644
Other Revenue $-7,330
TOTAL REVENUE $343,082

Expense Breakdown

Grants Paid $339,533
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $368,710
Other Expenses $30,342
TOTAL EXPENSES $369,875

Year-over-Year Comparison

2024 2023 Change
Revenue $343,082 $380,304 -0.1%
Expenses $369,875 $281,288 +0.3%
Net Income $-26,793 $99,016 -1.3%
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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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
N/A

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
4
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARIE CARMENATI TREASURER N/A
Officer Director
$0 $0 $0
CHRISTINE CONLEY DIRECTOR N/A
Director
$0 $0 $0
ANDREA L ACKERMAN EDD DIRECTOR N/A
Director
$0 $0 $0
JASON FOSTER DIRECTOR N/A
Director
$0 $0 $0
JOE GARCIA DIRECTOR N/A
Director
$0 $0 $0
MEGAN GILBERT DIRECTOR N/A
Director
$0 $0 $0
HENRY KYDD DIRECTOR N/A
Director
$0 $0 $0
MARGARET MILNES DIRECTOR N/A
Director
$0 $0 $0
JAMES E MITCHELL DIRECTOR N/A
Director
$0 $0 $0
RACHELLE AEKINS SALIKI VICE PRESIDE N/A
Officer Director
$0 $0 $0
BIRSE TIMMONS PRESIDENT N/A
Officer Director
$0 $0 $0
KAREN WALTERS DIRECTOR N/A
Director
$0 $0 $0
ZAKKYYA WILLIAMS SECRETARY N/A
Officer 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 $343,082 $369,875 $2,372,514 $-26,793
2024 $380,304 $281,288 $2,338,841 $99,016
2023 $345,318 $273,537 $1,888,090 $71,781
2022 $495,057 $211,089 $1,935,039 $283,968
2021 $318,086 $189,865 $1,503,577 $128,221
2020 $347,817 $165,483 $1,324,132 $182,334
2019 $418,955 $149,389 $1,191,886 $269,566
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