IRONWOOD AREA SCHOLARSHIP FOUNDATION C/O TIMOTHY KOLESAR

EIN: 382822183 501(c)(3)

IRONWOOD, MI

Total Revenue
$162,759
Total Expenses
$179,314
Total Assets
$1,979,469
Net Assets
$1,979,469
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
MI
Principal Officer
TIM KOLESAR
Phone
9069320932
Tax Period
2024-07-01 to 2025-06-30

IRONWOOD AREA SCHOLARSHIP FOUNDATION C/O TIMOTHY KOLESAR, founded in 1988, is a small nonprofit that reported $163K in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. Expenses of $179K exceeded revenue, resulting in a 10% operating deficit.

Mission

SOLICIT FUNDS TO USE AS ENDOWMENT, INCOME FROM WHICH IS GRANTED TO HIGH SCHOOL GRADUATES BASED ON THEIR PERFORMANCES, GRADES, AND ACHIEVEMENTS

Program Service Accomplishments

Program 1
Expenses: $162,500

SCHOLARSHIPS GIVEN TO HIGH SCHOOL GRADUATES BASED ON THEIR PERFORMANCES, GRADES, AND ACHIEVEMENTS

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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 $27,482
Program Service Revenue $0
Investment Income $135,277
Other Revenue $0
TOTAL REVENUE $162,759

Expense Breakdown

Grants Paid $162,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $163,270
Other Expenses $16,814
TOTAL EXPENSES $179,314

Year-over-Year Comparison

2024 2023 Change
Revenue $162,759 $112,661 +0.4%
Expenses $179,314 $39,361 +3.6%
Net Income $-16,555 $73,300 -1.2%
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
11
Independent Members
11
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
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DARLENE DUGAN DIRECTOR N/A
Director
$0 $0 $0
JOHN LUPINO DIRECTOR N/A
Director
$0 $0 $0
BILL MALLOY DIRECTOR N/A
Director
$0 $0 $0
DAN MARTINSON DIRECTOR N/A
Director
$0 $0 $0
MELISSA NIGH DIRECTOR N/A
Director
$0 $0 $0
DAN PAVLOVICH DIRECTOR N/A
Director
$0 $0 $0
VICKY WATSON DIRECTOR N/A
Director
$0 $0 $0
MARILYN CAREY SECRETARY N/A
Officer
$0 $0 $0
TIM KOLESAR PRESIDENT N/A
Officer
$0 $0 $0
DAVID MANKI VICE PRESIDE N/A
Officer
$0 $0 $0
MARY STAUFFER TREASURER N/A
Officer
$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 $162,759 $179,314 $1,979,469 $-16,555
2024 $112,661 $39,361 $1,956,183 $73,300
2023 $126,622 $113,010 $1,746,019 $13,612
2022 $121,397 $167,633 $1,644,721 $-46,236
2021 $103,417 $35,604 $2,056,250 $67,813
2020 $166,235 $68,416 $1,621,606 $97,819
2019 $370,437 $60,578 $1,632,924 $309,859
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