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Nonprofiteer
← FATHER VINCENT WELCH MEMORIAL FUND

Form 990 for tax year 2022

Filed by FATHER VINCENT WELCH MEMORIAL FUND.

Totals

Total revenue
$386,643
Total expenses
$100,002
Contributions and grants received
$405,731
Grants paid
$100,000
Program service revenue
$0
Investment income
$0
Other revenue
-$19,088
Total assets, end of year
$301,803
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$301,803
Program services expenses (Part IX)
$100,000
Management and general expenses
$2
Fundraising expenses
$0
Program service expenses (Part III)
$100,000

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $405,731

  • 8a · Fundraising events: gross income

    $11,094

  • 8a · Fundraising events: contributions included on line 1c

    $405,731

  • 8b · Fundraising events: direct expenses

    $30,182

  • 8c · Net income from fundraising events

    total -$19,088 · excluded -$19,088

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,000 · program services $100,000

  • 13 · Office expenses

    total $2 · management and general $2

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,162 · end of year $301,803

  • 27 · Net assets without donor restrictions

    beginning of year $15,162 · end of year $301,803

Mission and programs · 2022

Mission

THE MEMORIAL FUND WAS ORGANIZED TO RAISE PROCEEDS THROUGH CHARITABLE CONTRIBUTIONS FOR THE CREATION AND MAINTENANCE OF SCHOLARSHIP FUNDS. THE SCHOLARSHIP FUNDS WILL BE DEDICATED TO THE ASSISTANCE OF NEEDY YOUNG PEOPLE FROM THE METRO DETROIT AREA IN OBTAINING SECONDARY, UNDER-GRADUATE AND POST-GRADUATE EDUCATIONS.

  • CONTRIBUTION TO LOYOLA HIGH SCHOOL FOR SCHOLARSHIPS.

    Expenses $100,000 · Grants $100,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MICHAEL T MCNAMARA

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • FR DONALD WORTHY

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • CATHERINE MCNAMARA

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333199349311983

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