THE ONTONAGON AREA SCHOLARSHIP FOUNDATION

EIN: 383525614 501(c)(3) Education

ONTONAGON, MI

Total Revenue
$240,077
Total Expenses
$44,007
Total Assets
$1,760,671
Net Assets
$1,760,671
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
MI
Principal Officer
MEREDITH STRONG
Phone
9068844963
Tax Period
2023-06-01 to 2024-05-31

THE ONTONAGON AREA SCHOLARSHIP FOUNDATION, founded in 1984, is a small nonprofit in the Education sector that reported $240K in total revenue in fiscal year 2023. Revenue surged 447% from the prior year, signaling strong growth momentum. The organization ran a surplus of $196K, a strong 82% operating margin.

Mission

TO PROVIDE SCHOLARSHIPS FOR AREA HIGH SCHOOL GRADUATES TO CONTINUE THEIR EDUCATION

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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 $42,185
Program Service Revenue $0
Investment Income $197,892
Other Revenue $0
TOTAL REVENUE $240,077

Expense Breakdown

Grants Paid $28,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $28,000
Other Expenses $16,007
TOTAL EXPENSES $44,007

Year-over-Year Comparison

2023 2022 Change
Revenue $240,077 $43,904 +4.5%
Expenses $44,007 $28,758 +0.5%
Net Income $196,070 $15,146 +11.9%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
15
Independent Members
15
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
6
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARILYN ANDERSON CO SECRETARY N/A
Officer Director
$0 $0 $0
SALLY BERMAN TRUSTEE N/A
Director
$0 $0 $0
GERALD DOMITROVICH TRUSTEE N/A
Director
$0 $0 $0
WILLIAM DUPONT CO- TREASURE N/A
Officer Director
$0 $0 $0
MEGAN HAGEN TRUSTEE N/A
Director
$0 $0 $0
JAMES JESSUP TRUSTEE N/A
Director
$0 $0 $0
DEAN JUNTUNEN TRUSTEE N/A
Director
$0 $0 $0
LINDA KARTTUNEN CO-SECRETART N/A
Officer Director
$0 $0 $0
TAMMY LANCIONI VICE PRESIDE N/A
Officer Director
$0 $0 $0
STACY NELSON TRUSTEE N/A
Director
$0 $0 $0
KRISTIE OLLILA TRUSTEE N/A
Director
$0 $0 $0
SUE PREISS CO-TREASURER N/A
Officer Director
$0 $0 $0
KENNETH RAISANEN TRUSTEE N/A
Director
$0 $0 $0
MEREDITH STRONG PRESIDENT N/A
Officer Director
$0 $0 $0
JANIS TUCKER TRUSTEE N/A
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 No data No data No data No data
2024 $240,077 $44,007 $1,760,671 $196,070
2023 $43,904 $28,758 $1,582,764 $15,146
2022 $116,411 $28,715 $1,590,017 $87,696
2021 $214,327 $31,259 $1,728,366 $183,068
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