THE SCHOLARSHIP COMMITTEE INC OF THE SALEM HIGH SCHOOL ALUMNI ASSOC

EIN: 346519955 501(c)(3) Education

SALEM, OH

Total Revenue
$449,354
Total Expenses
$587,603
Total Assets
$11,950,159
Net Assets
$11,947,762
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1947
Legal Domicile
OH
Principal Officer
MARY WINCH-KORFF
Phone
3303321427
Tax Period
2023-01-01 to 2023-12-31

THE SCHOLARSHIP COMMITTEE INC OF THE SALEM HIGH SCHOOL ALUMNI ASSOC, founded in 1947, is a small nonprofit in the Education sector that reported $449K in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $588K exceeded revenue, resulting in a 31% operating deficit.

Mission

THE GRANTING OF POST-SECONDARY EDUCATION SCHOLARSHIPS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $169,285
Program Service Revenue $5,560
Investment Income $274,045
Other Revenue $464
TOTAL REVENUE $449,354

Expense Breakdown

Grants Paid $354,375
Salaries & Benefits $91,989
Fundraising Expenses $280
Program Expenses $541,185
Other Expenses $141,239
TOTAL EXPENSES $587,603

Year-over-Year Comparison

2023 2022 Change
Revenue $449,354 $826,827 -0.5%
Expenses $587,603 $745,199 -0.2%
Net Income $-138,249 $81,628 -2.7%
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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Governance

Voting Members
16
Independent Members
16
Employees
2
Volunteers
25

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
5
$0
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY WINCH-KORFF PRESIDENT 1.00
Officer Director
$0 $0 $0
DR PETER APICELLA 1ST VICE PRE 5.00
Officer Director
$0 $0 $0
MICKEY COPE WEAVER 2ND VICE PRE 1.00
Officer Director
$0 $0 $0
TIM HARRINGTON SECRETARY 1.00
Officer Director
$0 $0 $0
WENDY L SALTSMAN CPA TREASURER 2.00
Officer Director
$0 $0 $0
JEAN KILIMAN ESPOSITO TRUSTEE 1.00
Director
$0 $0 $0
MATT BENDER TRUSTEE 1.00
Director
$0 $0 $0
ANDY CLUTTER TRUSTEE 1.00
Director
$0 $0 $0
RYAN CROWELL TRUSTEE 1.00
Director
$0 $0 $0
NATE MULLEN TRUSTEE 1.00
Director
$0 $0 $0
SHANE HARDING TRUSTEE 1.00
Director
$0 $0 $0
CAROLYN GORDON JONES TRUSTEE 1.00
Director
$0 $0 $0
KARLI UTT TRUSTEE 1.00
Director
$0 $0 $0
MADELINE PATTON SHIVERS TRUSTEE 1.00
Director
$0 $0 $0
BRAD STEPHENS TRUSTEE 1.00
Director
$0 $0 $0
JIM TAUS TRUSTEE 1.00
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 No data No data No data No data
2023 $449,354 $587,603 $11,950,159 $-138,249
2022 $826,827 $745,199 $11,755,684 $81,628
2021 $846,781 $555,263 $13,741,127 $291,518
2020 $630,853 $479,323 $11,904,181 $151,530
2019 $837,412 $518,831 $11,719,666 $318,581
2018 $1,054,184 $491,905 $10,117,847 $562,279
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