LT MICHAEL P MURPHY USN MEMORIAL SCHOLARSHIP FOUNDATION

EIN: 161730124 501(c)(3) Education

Riverhead, NY

Total Revenue
$237,559
Total Expenses
$198,275
Total Assets
$982,673
Net Assets
$982,673
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
NY
Principal Officer
DANIEL J MURPHY
Phone
5168107564
Tax Period
2024-01-01 to 2024-12-31

LT MICHAEL P MURPHY USN MEMORIAL SCHOLARSHIP FOUNDATION, founded in 2005, is a small nonprofit in the Education sector that reported $238K in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $39K, a strong 17% operating margin.

Mission

NAVY SEAL LT MICHAEL P MURPHY POSTHUMONSLY AWARDED THE NATIONS HIGHEST AWARD FOR VALOR. THE MEDAL OF HONOR HAD A FAVORITE SAYING EDUCATION WILL SET YOU FREE AFTER LOSING MICHAEL IN AFGHANISTAN AND TO HONOR HIS LEGACY THE FAMILY SET UP THE SCHOLORSHIP FUND ORIGINALLY USING THE DEATH BENIFITS RECEIVED TO SUPPORT EDUCATIONAL OPPORTUNITIES

Program Service Accomplishments

Program 1
Expenses: $50,000

NAVY SEAL LT MICHAEL P MURPHY ALMA MATER PENN STATE OFFERING TH NAVY SEAL LT MICHAEL P MURPHY SCHOLORSHIP AWARDS THROUGH THE UNIVERSITY SELECTION PROCESS. MICHAEL IS LISTED AS A DISTINGUSHED PENN...

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NAVY SEAL LT MICHAEL P MURPHY ALMA MATER PENN STATE OFFERING TH NAVY SEAL LT MICHAEL P MURPHY SCHOLORSHIP AWARDS THROUGH THE UNIVERSITY SELECTION PROCESS. MICHAEL IS LISTED AS A DISTINGUSHED PENN STATE GRADUATE AND THERE IS A MONUMENT TO HONOR HIM IN THE CENTER OF CAMPUS OF PENN STATE AT IT MAIN CAMPUS IN UNIVERSITY PARK. MICHAELS MURAL WITH ANGEL WINGS IS ALSO ON THE SIDE OF THE PENN STATE BOOK STORE AND A ROOM IN THE LIBERAL ARTS BUILDING CARRIES HIS NAME AND A PORTRAIT.

Program 2
Expenses: $26,000

PROGRAM GRANT TO THE LT MICHAEL P MURPHY SEAL MUSEAM/SEA CADET TRAINING FACILITY TO PROMOTE NAVAL SPECIAL WARFARES HISTORY AND LEGACY FROM THE WORLD WAR II UNDERWATER DEMOILTION TEAMS TO THE PRESENT...

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PROGRAM GRANT TO THE LT MICHAEL P MURPHY SEAL MUSEAM/SEA CADET TRAINING FACILITY TO PROMOTE NAVAL SPECIAL WARFARES HISTORY AND LEGACY FROM THE WORLD WAR II UNDERWATER DEMOILTION TEAMS TO THE PRESENT DAY WAR ON TERRO INCLUDING A DEDICATED EXIHBITION HALL TO LT MURPHYS SEAL TEAM SDVT01 AND THE BATTLE OF OPERATION REDWINGS. THIS DUAL PURPOSE BUILDING ALSO HOUSES THE SEA CADET TRAINING FACILITY TO TEACH LEADERSHIP SKILLS TO OUR FUTURE LEADERS IN THE UNITED STATES SEA CADET CORPS INCLUDING HOUSING THE LT MICHAEL P MURPHY SEA CADET DIVISION WHICH IS A 501C3 NON PROFIT CHARITY

Program 3
Expenses: $20,500

FUNDING PROVIDED FOR 4 PATCHOGUE MEDFORD HIGH SCHOOL MICHAELS ALMA MATER SCHOLORSHIP AWARDS OF 5,000 EACH YEAR FOR 4 YEARS OF COLLEGE. THIS SCHOLORSHIP AWARD IS OFFERED EACH YEAR TO ONE GRADUATING...

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FUNDING PROVIDED FOR 4 PATCHOGUE MEDFORD HIGH SCHOOL MICHAELS ALMA MATER SCHOLORSHIP AWARDS OF 5,000 EACH YEAR FOR 4 YEARS OF COLLEGE. THIS SCHOLORSHIP AWARD IS OFFERED EACH YEAR TO ONE GRADUATING STUDENT TOTALING 20,000 OVER 4 YEARS IN INCRAMENTS OF 5,000 A YEAR. THE SCHOLORSHIP FOUNDATION NOW FUNDS 4 GRADUATING SENIORS NOW ATTENDING COLLEGE IN THE FRESHMAN, SOPHMORE, JUNIOR AND SENIOR YEAR. THE FOUNDATION ALSO MATCHES THE PATCHGUE MEDFORD HIGH SCHOOL AWARD IN MICHAELS NAME OF 500 MAKING A TOTAL HIGH SCHOOL SCHOLERSHIP OF 1,000 STARTED NY MS. CONNELLY, A TEACHER AT PATCHOGUE MEDFORD HIGH SCHOOL TO HONOR HER GOOD FRIEND AND HIGH SCHOOL CLASSMATE MICHAEL MURPHY.

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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 $224,686
Program Service Revenue $0
Investment Income $12,873
Other Revenue $0
TOTAL REVENUE $237,559

Expense Breakdown

Grants Paid $198,275
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $198,275
Other Expenses $0
TOTAL EXPENSES $198,275

Year-over-Year Comparison

2024 2023 Change
Revenue $237,559 $183,642 +0.3%
Expenses $198,275 $178,750 +0.1%
Net Income $39,284 $4,892 +7.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
6
Employees
N/A
Volunteers
9

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
0
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANIEL J MURPHY CHAIRMAN, BOARD OF DIRECTORS 005.00
Director
$0 $0 $0
JOHN D MURPHY SCHOLORSHIP COMMITTEE MEMBER 002.00
Director
$0 $0 $0
MAUREEN T MURPHY COMMITTEE MEMBER 003.00
Director
$0 $0 $0
DEE WISE HEINZ SCHOLORSHIP COMMITTEE MEMBER 005.00
Director
$0 $0 $0
KRISTEN M BISHOP SCHOLORSHIP COMMITTEE MEMBER 002.00
Director
$0 $0 $0
MAUREEN P BOGANSHULZ COMMITTEE MEMBER 001.00
Director
$0 $0 $0
OWEN O'CALLAGHAN SUFFOLK COUNTY PD 001.00
Director
$0 $0 $0
CATHERINE O'SHEA COMMITTEE MEMBER 001.00
Director
$0 $0 $0
MICHAEL P MISTRETTA COMMITTEE MEMBER 001.00
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
2024 $237,559 $198,275 $982,673 $39,284
2023 $183,642 $178,750 $943,389 $4,892
2022 $130,867 $182,275 $938,497 $-51,408
2021 $240,777 $175,731 $989,905 $65,046
2020 $210,680 $164,451 $924,859 $46,229
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