Form 990 for tax year 2023
Filed by THE FRANCIS OUIMET SCHOLARSHIP FUND INC.
Totals
- Total revenue
- $6,281,798
- Total expenses
- $5,159,101
- Contributions and grants received
- $5,939,653
- Grants paid
- $3,409,487
- Program service revenue
- $0
- Investment income
- $1,146,297
- Other revenue
- -$804,152
- Total assets, end of year
- $30,635,675
- Total liabilities, end of year
- $803,358
- Net assets or fund balances, end of year
- $29,832,317
- Program services expenses (Part IX)
- $3,856,714
- Management and general expenses
- $501,305
- Fundraising expenses
- $801,082
- Program service expenses (Part III)
- $3,856,714
Program services were 74.8% 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
$1,806,522
-
1f · All other contributions, gifts and grants
$4,133,131
-
3 · Investment income
total $634,131 · excluded $634,131
-
7a · Gross sales of assets other than inventory
securities $5,807,146
-
7b · Less cost or other basis and sales expenses
securities $5,294,980
-
7c · Gain or loss
securities $512,166
-
7d · Net gain or loss
total $512,166 · excluded $512,166
-
8a · Fundraising events: gross income
$402,921
-
8a · Fundraising events: contributions included on line 1c
$1,806,522
-
8b · Fundraising events: direct expenses
$1,207,073
-
8c · Net income from fundraising events
total -$804,152 · excluded -$804,152
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $3,409,487 · program services $3,409,487
-
5 · Compensation of officers, directors and key employees
total $205,101 · program services $10,255 · management and general $10,255 · fundraising $184,591
-
7 · Other salaries and wages
total $640,367 · program services $162,993 · management and general $95,333 · fundraising $382,041
-
8 · Pension plan contributions
total $15,265 · program services $4,287 · management and general $2,468 · fundraising $8,510
-
9 · Other employee benefits
total $152,627 · program services $32,130 · management and general $19,306 · fundraising $101,191
-
10 · Payroll taxes
total $26,141 · program services $5,443 · management and general $3,307 · fundraising $17,391
-
11b · Fees: legal
total $512 · management and general $512
-
11c · Fees: accounting
total $35,100 · program services $7,369 · management and general $3,965 · fundraising $23,766
-
11f · Fees: investment management
total $153,114 · management and general $153,114
-
13 · Office expenses
total $100,413 · program services $50,473 · management and general $20,895 · fundraising $29,045
-
22 · Depreciation, depletion and amortization
total $5,573 · program services $478 · management and general $701 · fundraising $4,394
-
23 · Insurance
total $13,875 · program services $2,871 · management and general $1,744 · fundraising $9,260
-
24a · Other expenses: FUNDRAISING EVENTS & AL
total $323,845 · program services $137,174 · management and general $186,671
-
24b · Other expenses: CLUB RELATIONS
total $77,681 · program services $33,754 · management and general $3,034 · fundraising $40,893
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $284,842 · end of year $653,570
-
2 · Savings and temporary cash investments
beginning of year $190,249 · end of year $399,145
-
3 · Pledges and grants receivable
beginning of year $233,859 · end of year $147,709
-
4 · Accounts receivable
beginning of year $10,071 · end of year $271,675
-
9 · Prepaid expenses and deferred charges
beginning of year $492,117 · end of year $108,705
-
10a · Land, buildings and equipment: cost or other basis
$332,904
-
10b · Land, buildings and equipment: accumulated depreciation
$299,675
-
10c · Land, buildings and equipment, net
beginning of year $7,166 · end of year $33,229
-
11 · Investments: publicly traded securities
beginning of year $25,002,572 · end of year $28,698,002
-
15 · Other assets
beginning of year $362,092 · end of year $323,640
-
17 · Accounts payable and accrued expenses
beginning of year $280,653 · end of year $459,700
-
19 · Deferred revenue
beginning of year $416,120 · end of year $20,018
-
25 · Other liabilities
beginning of year $362,092 · end of year $323,640
-
27 · Net assets without donor restrictions
beginning of year $5,021,233 · end of year $5,580,599
-
28 · Net assets with donor restrictions
beginning of year $20,502,870 · end of year $24,251,718
Mission and programs · 2023
Mission
THE FRANCIS OUIMET SCHOLARSHIP FUND IS COMMITTED TO PROVIDING NEEDBASED SCHOLARSHIP AID TO STUDENTS WHO HAVE DEMONSTRATED A STRONG WORKETHIC BY HAVING COMPLETED AT LEAST TWO YEARS OF SERVICE TO GOLF. THEOUIMET FUND REWARDS ACCOMPLISHMENT THROUGH THE COMPETITIVE, RENEWABLE
-
PROVIDING NEED BASED COLLEGE SCHOLARSHIPS TO GOLF CADDIES AND OTHER GOLF CLUB EMPLOYEES WHO HAVE SERVED THE GOLF COMMUNITY FOR TWO OR MORE YEARS.2023-2024 SCHOLARSHIP PROFILE:-292 INDIVIDUALS RECEIVING FINANCIAL AWARDS-163 "HONORARY" SCHOLARS RECEIVING $750 BOOK AWARD-153 COLLEGES ATTENDED BY SCHOLARS-125 CLUBS REPRESENTED BY SCHOLARS-73 WOMEN SCHOLARS
Expenses $3,856,714 · Grants $3,409,487
As filed on the 2023 return.
Listed in Part VII
-
MR COLIN R MCGUIRE
EXECUTIVE DIRECTOR
- Total calculated
- $230,387
- From this org
- $177,667
- From related orgs
- $0
- Other
- $52,720
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,667
- Bonus
- $0
- Other
- $0
- Deferred
- $22,500
- Nontaxable benefits
- $30,220
- Filer's total
- $230,387
-
MR WILLIAM L HEALY MD
PRESIDENT (UNTIL 10/21/23)
- Total calculated
- $0
- Hours/week
- 1
-
MR DUNCAN GRATTON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
MR KEVIN J MACLAUGHLAN
SECOND VP (UNTIL 10/23)/1ST VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
MR JOHN AGOSTINO
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
MR STEPHEN D BROOK
CLERK & COUNSEL
- Total calculated
- $0
- Hours/week
- 1
-
MR JOHN DOLAN III
CLUB RELATIONS CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
MS JUDY P FRODIGH
DIRECTOR, EXECUTIVE COMM./SECOND VP (AS OF 10/23)
- Total calculated
- $0
- Hours/week
- 1
-
MR GREGORY J GAILIUS
DIRECTOR, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MR JEFFFREY HOLLAND
DIRECTOR, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MR JAMES W MORIARTY
DIRECTOR, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MR CHRISTOPHER L RUMUL
DIRECTOR, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MR RICHARD F CONNOLLY JR
DIRECTOR, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MS MARIE E CHALMERS
DIRECTOR, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
MR SCOTT J ADLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR DAVID A BAMEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOSH BELINSKY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JAMES BLUE II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR PAUL BOUDREAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR DUFFY BRENT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MS CAITLIN CAVANAUGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR RYAN CONNOLLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR MARTIN F CONNORS JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR EDUARDO E CORDEIRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR STEPHEN C DEMIRJIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JASON D DEVITO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR MICHAEL H DOUVADJIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR PATRICK A FISCHOEDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOHN F GALLAGHER III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MS STEPHANIE WEIMER GREANEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR RAYMOND F HAMEL JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR ANDREW HENDERSON JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR PHILIP HOLDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR BRIAN JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR WILLIAM D KELLEHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR TERRENCE G KENNEDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR DONALD J KILBRIDE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR BO KIMYACHI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR MARK LUND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR DANIEL MAGALETTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOSEPH E MAHONEY JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR THOMAS MARTIN JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MS HOLLY MCGRATH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOHN R MCKENNA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOSEPH R NOLAN JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOSEPH E ONSTOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR SEAN RUSH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR SEAN P RIORDAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR PATRICK J SCANNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR MICHAEL S WALKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOHN WATTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR TODD H WETZEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR DAVID F WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR THOMAS F BAGLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR GREGORY L CINCOTTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR ANDREW J MINGLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JENNIFER MISIASZEK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MS ALISON WALSHE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MR JOHN MACKINNON
DIRECTOR (UNTIL 10/2023)
- Total calculated
- $0
- Hours/week
- 1
-
MR EUGENE KENNEDY
DIRECTOR (UNTIL 10/2023)
- Total calculated
- $0
- Hours/week
- 1
-
MR HARRISON BANE
DIRECTOR (UNTIL 10/2023)
- Total calculated
- $0
- Hours/week
- 1
-
MR JEFFREY JAMES MURPHY
SR. DIRECTOR, OPERATIONS
- Total calculated
- $121,800
- From this org
- $116,000
- From related orgs
- $0
- Other
- $5,800
- Hours/week
- 40
-
MR THOMAS MURPHY
DIR., DEV. & ALUMNI RELATIONS
- Total calculated
- $121,191
- From this org
- $116,750
- From related orgs
- $0
- Other
- $4,441
- Hours/week
- 40
-
MS MICHELLE ANDREA EDWARDS
SR. DIR., SCHOLARSHIPS & DATA MGMT.
- Total calculated
- $109,529
- From this org
- $103,810
- From related orgs
- $0
- Other
- $5,719
- Hours/week
- 40
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 23 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202432699349300213
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