FIRST MARINE DIVISION ASSOCIATIONSCHOLARSHIP FUND INC

EIN: 260564463 501(c)(3) Education

Oceanside, CA

Total Revenue
$143,144
Total Expenses
$95,994
Total Assets
$1,073,682
Net Assets
$1,073,682
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
CA
Principal Officer
James J McMonagle Chairman
Phone
2816156275
Tax Period
2024-01-01 to 2024-12-31

FIRST MARINE DIVISION ASSOCIATIONSCHOLARSHIP FUND INC, founded in 2008, is a small nonprofit in the Education sector that reported $143K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $47K, a strong 33% operating margin.

Mission

To foster 1st Marine Division patriotism and education. Education is fostered through the approval of college scholarships for qualified university students who meet the qualifications of The Fund.

Program Service Accomplishments

Program 1
Expenses: $83,387 Revenue: $0

The Fund awarded college scholarships to thirty two (32) qualified university students in 2024 who are the sons and daughters of Marines who served in or in support of the 1st Marine Division and who...

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The Fund awarded college scholarships to thirty two (32) qualified university students in 2024 who are the sons and daughters of Marines who served in or in support of the 1st Marine Division and who are 100% disabled or deceased. Eighteen (18) scholarships were awarded in 2023 and nineteen (19) were awarded in 2022.

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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 $18,351
Program Service Revenue $0
Investment Income $124,793
Other Revenue $0
TOTAL REVENUE $143,144

Expense Breakdown

Grants Paid $82,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $83,387
Other Expenses $13,494
TOTAL EXPENSES $95,994

Year-over-Year Comparison

2024 2023 Change
Revenue $143,144 $121,215 +0.2%
Expenses $95,994 $52,736 +0.8%
Net Income $47,150 $68,479 -0.3%
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
8
Independent Members
8
Employees
N/A
Volunteers
20

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
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John R Stevens Chairman Emeritus in Memoriam 0
Director
$0 $0 $0
James J McMonagle Chairman 1
Officer Director
$0 $0 $0
Len Hayes Vice-Chairman 1
Officer Director
$0 $0 $0
Jerry P Reed Chief Financial Officer 15
Officer Director
$0 $0 $0
Pierre A Sims Secretary 3
Officer Director
$0 $0 $0
William Godfrey Director 1
Director
$0 $0 $0
Carl W Miller Director 1
Director
$0 $0 $0
George A Sager Director 1
Director
$0 $0 $0
Charles Kershaw Director 1
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 $143,144 $95,994 $1,073,682 $47,150
2023 $121,215 $52,736 $1,026,532 $68,479
2022 $30,581 $263,817 $958,053 $-233,236
2021 $129,435 $73,400 $1,191,289 $56,035
2020 $196,376 $59,904 $1,135,254 $136,472
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