WILLIAM BERNARD DUDLEY MEMORIAL SCHOLARSHIP FUND

EIN: 991234742 501(c)(3) Education

NEWARK, NJ

Total Revenue
$84,780
Total Expenses
$241,034
Total Assets
$25,255
Net Assets
$-156,254
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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
2023
Legal Domicile
NJ
Principal Officer
VICTOR THOMAS
Tax Period
2024-01-18 to 2024-09-30

WILLIAM BERNARD DUDLEY MEMORIAL SCHOLARSHIP FUND, founded in 2023, is a micro nonprofit in the Education sector that reported $85K in total revenue in fiscal year 2023. Expenses of $241K exceeded revenue, resulting in a 184% operating deficit.

Mission

TO SUPPORT MEMBERS OF INTERNATIONAL LONGSHOREMENS ASSOCIATION LOCAL 1233 AND TO PROMOTE HIGHER EDUCATION BY OFFSETTING TUITION COSTS FOR FAMILIES OF MEMBERS.

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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 $84,780
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $84,780

Expense Breakdown

Grants Paid $55,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $241,034
Other Expenses $186,034
TOTAL EXPENSES $241,034

Year-over-Year Comparison

2023 2022 Change
Revenue $84,780 N/A N/A
Expenses $241,034 N/A N/A
Net Income $-156,254 N/A N/A
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
13
Independent Members
N/A
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
2
$613,824
Total Directors
3
$1,061,869
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HERBERT HALL BUSINESS AGENT 1.00
Director
$0 $0 $448,045
CLIFTON SMITH PRESIDENT 1.00
Officer Director
$0 $0 $339,824
VICTOR THOMAS SECRETARY-TREASURER 1.00
Officer Director
$0 $0 $274,000
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 $84,780 $241,034 $25,255 $-156,254
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