THE MIKE GRACE MEMORIAL SCHOLARSHI… - Form 990 Financial Data

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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

1990

Legal Domicile

Principal Officer

DAVID CHISOLM

Phone

6152242733

Tax Period

2024-07-01 to 2025-06-30

THE MIKE GRACE MEMORIAL SCHOLARSHIP FUND C/O APCOM, founded in 1990, is a small nonprofit that reported $132K in total revenue in fiscal year 2024. Revenue surged 188% from the prior year, signaling strong growth momentum. The organization ran a surplus of $106K, a strong 80% operating margin.

Mission

TO AWARD SCHOLARSHIPS TO STUDENTS IN RECOGNITION OF THEIR HIGH ACHIEVEMENTS IN THE AREA OF VOCATIONAL EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $24,000

AWARD SCHOLARSHIPS TO STUDENTS IN RECOGNITION OF THEIR HIGH ACHIEVEMENTS IN THE AREA OF VOCATIONAL 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $35,700

Program Service Revenue $0

Investment Income $99,623

Other Revenue $-3,496

TOTAL REVENUE $131,827

Expense Breakdown

Grants Paid $24,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $24,000

Other Expenses $1,945

TOTAL EXPENSES $25,945

Year-over-Year Comparison

	2024	2023	Change
Revenue	$131,827	$45,826	+1.9%
Expenses	$25,945	$28,790	-0.1%
Net Income	$105,882	$17,036	+5.2%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID CHISOLM	PRESIDENT & DIRECTOR	1.00	Officer	$0	$0	$0
WILLIAM JACOBS	VICE PRESIDENT & DIRECTOR	1.00	Officer	$0	$0	$0
PAUL BROWN	DIRECTOR	1.00	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	$131,827	$25,945	$716,936	$105,882
2024	$45,826	$28,790	$611,054	$17,036
2023	$35,537	$28,650	$594,018	$6,887
2022	$132,924	$25,570	$587,131	$107,354

THE MIKE GRACE MEMORIAL SCHOLARSHIP FUND C/O APCOM