Form 990 for tax year 2022
Filed by THE FRANCIS OUIMET SCHOLARSHIP FUND INC.
Totals
- Total revenue
- $5,357,045
- Total expenses
- $4,665,620
- Contributions and grants received
- $4,600,938
- Grants paid
- $3,129,689
- Program service revenue
- $0
- Investment income
- $804,805
- Other revenue
- -$48,698
- Total assets, end of year
- $26,582,968
- Total liabilities, end of year
- $1,058,865
- Net assets or fund balances, end of year
- $25,524,103
- Program services expenses (Part IX)
- $3,434,241
- Management and general expenses
- $396,016
- Fundraising expenses
- $835,363
- Program service expenses (Part III)
- $3,434,241
Program services were 73.6% 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
$632,329
-
1f · All other contributions, gifts and grants
$3,968,609
-
3 · Investment income
total $597,418 · excluded $597,418
-
7a · Gross sales of assets other than inventory
securities $9,874,952
-
7b · Less cost or other basis and sales expenses
securities $9,667,565
-
7c · Gain or loss
securities $207,387
-
7d · Net gain or loss
total $207,387 · excluded $207,387
-
8a · Fundraising events: gross income
$19,912
-
8a · Fundraising events: contributions included on line 1c
$632,329
-
8b · Fundraising events: direct expenses
$68,610
-
8c · Net income from fundraising events
total -$48,698 · excluded -$48,698
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $3,129,689 · program services $3,129,689
-
5 · Compensation of officers, directors and key employees
total $195,032 · program services $9,752 · management and general $9,752 · fundraising $175,528
-
7 · Other salaries and wages
total $586,184 · program services $180,415 · management and general $117,401 · fundraising $288,368
-
8 · Pension plan contributions
total $5,108 · program services $2,575 · management and general $1,608 · fundraising $925
-
9 · Other employee benefits
total $124,261 · program services $32,488 · management and general $21,528 · fundraising $70,245
-
10 · Payroll taxes
total $29,190 · program services $7,220 · management and general $4,818 · fundraising $17,152
-
11b · Fees: legal
total $1,275 · management and general $1,275
-
11c · Fees: accounting
total $36,100 · program services $9,809 · management and general $2,994 · fundraising $23,297
-
11f · Fees: investment management
total $138,761 · management and general $138,761
-
11g · Fees: other
total $2,275 · management and general $2,275
-
13 · Office expenses
total $129,864 · program services $31,984 · management and general $21,898 · fundraising $75,982
-
22 · Depreciation, depletion and amortization
total $5,161 · program services $1,125 · management and general $853 · fundraising $3,183
-
23 · Insurance
total $9,226 · program services $2,283 · management and general $1,522 · fundraising $5,421
-
24a · Other expenses: FUNDRAISING EVENTS & AL
total $230,299 · program services $21,440 · management and general $69,157 · fundraising $139,702
-
24b · Other expenses: CLUB RELATIONS
total $43,195 · program services $5,461 · management and general $2,174 · fundraising $35,560
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $309,014 · end of year $284,842
-
2 · Savings and temporary cash investments
beginning of year $168,380 · end of year $190,249
-
3 · Pledges and grants receivable
beginning of year $373,734 · end of year $233,859
-
4 · Accounts receivable
end of year $10,071
-
9 · Prepaid expenses and deferred charges
beginning of year $89,137 · end of year $492,117
-
10a · Land, buildings and equipment: cost or other basis
$301,268
-
10b · Land, buildings and equipment: accumulated depreciation
$294,102
-
10c · Land, buildings and equipment, net
beginning of year $6,308 · end of year $7,166
-
11 · Investments: publicly traded securities
beginning of year $26,343,800 · end of year $25,002,572
-
15 · Other assets
beginning of year $0 · end of year $362,092
-
17 · Accounts payable and accrued expenses
beginning of year $199,446 · end of year $280,653
-
19 · Deferred revenue
beginning of year $22,334 · end of year $416,120
-
25 · Other liabilities
beginning of year $0 · end of year $362,092
-
27 · Net assets without donor restrictions
beginning of year $4,864,920 · end of year $5,021,233
-
28 · Net assets with donor restrictions
beginning of year $22,203,673 · end of year $20,502,870
Mission and programs · 2022
Mission
THE FRANCIS OUIMET SCHOLARSHIP FUND IS COMMITTED TO PROVIDING NEED BASED SCHOLARSHIP AID TO STUDENTS WHO HAVE DEMONSTRATED A STRONG WORK ETHIC BY HAVING COMPLETED AT LEAST TWO YEARS OF SERVICE TO GOLF. THE OUIMET FUND REWARDS ACCOMPLISHMENT THROUGH THE COMPETITIVE, RENEWABLE SCHOLARSHIPS THE FUND IS DEDICATED TO PROVIDING THE GOLFING COMMUNITY WITH AN OPPORTUNITY TO GIVE BACK TO GOLF AND SOCIETY BY ASSISTING YOUTH IN FURTHERING THEIR EDUCATION. THE FUND ALSO SEEKS TO PRESERVE THE HISTORY OF FRANCIS OUIMET'S CONTRIBUTIONS TO AMERICAN GOLF.
Activities or mission (Part I)
THE FRANCIS OUIMET SCHOLARSHIP FUND IS COMMITTED TO PROVIDING NEED-BASED SCHOLARSHIP AID TO STUDENTS WHO HAVE DEMONSTRATED A STRONG WORK ETHIC BY HAVING COMPLETED AT LEAST TWO YEARS OF SERVICE TO GOLF.
-
PROVIDING NEED BASED COLLEGE SCHOLARSHIPS TO GOLF CADDIES AND OTHER GOLF CLUB EMPLOYEES WHO HAVE SERVED THE GOLF COMMUNITY FOR TWO OR MORE YEARS.2022-2023 SCHOLARSHIP PROFILE:-294 INDIVIDUALS RECEIVING FINANCIAL AWARDS-144 "HONORARY" SCHOLARS RECEIVING $750 BOOK AWARD-143 COLLEGES ATTENDED BY SCHOLARS-116 CLUBS REPRESENTED BY SCHOLARS-75 WOMEN SCHOLARS
Expenses $3,434,241 · Grants $3,129,689
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mr Colin R McGuireMR COLIN R MCGUIRE
EXECUTIVE DIRECTOR
- Total calculated
- $216,024
- From this org
- $166,368
- From related orgs
- $0
- Other
- $49,656
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $166,368
- Bonus
- $0
- Other
- $0
- Deferred
- $20,500
- Nontaxable benefits
- $29,156
- Filer's total
- $216,024
-
Mr William L Healy MDMR WILLIAM L HEALY MD
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Mr J Duncan GrattonMR J DUNCAN GRATTON
FIRST VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Mr Kevin J MaclaughlanMR KEVIN J MACLAUGHLAN
SECOND VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Mr John AgostinoMR JOHN AGOSTINO
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Mr Stephen D BrookMR STEPHEN D BROOK
CLERK & COUNSEL
- Total calculated
- $0
- Hours/week
- 1
-
Mr Richard F Connolly JrMR RICHARD F CONNOLLY JR
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Mr John Dolan IIIMR JOHN DOLAN III
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Ms Judy P FrodighMS JUDY P FRODIGH
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Mr Gregory J GailiusMR GREGORY J GAILIUS
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Mr Jefffrey HollandMR JEFFFREY HOLLAND
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Mr James W MoriartyMR JAMES W MORIARTY
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Mr Christopher L RumulMR CHRISTOPHER L RUMUL
DIRECTOR, EXECUTIVE COMMIT
- Total calculated
- $0
- Hours/week
- 1
-
Mr Scott J AdlerMR SCOTT J ADLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr David A BamelMR DAVID A BAMEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Harrison BaneMR HARRISON BANE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Josh BelinskyMR JOSH BELINSKY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr James Blue IIMR JAMES BLUE II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Paul BoudreauMR PAUL BOUDREAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Duffy BrentMR DUFFY BRENT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Caitlin CavanaughMS CAITLIN CAVANAUGH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Marie E ChalmersMS MARIE E CHALMERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Ryan ConnollyMR RYAN CONNOLLY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Martin F Connors JrMR MARTIN F CONNORS JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Eduardo E CordeiroMR EDUARDO E CORDEIRO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Stephen C DemirjianMR STEPHEN C DEMIRJIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Jason D DevitoMR JASON D DEVITO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Charles L Donahue JrMR CHARLES L DONAHUE JR
DIRECTOR (LEFT IN FY23)
- Total calculated
- $0
- Hours/week
- 1
-
Mr Michael H DouvadjianMR MICHAEL H DOUVADJIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Patrick A FischoederMR PATRICK A FISCHOEDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr John F Gallagher IIIMR JOHN F GALLAGHER III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Stephanie Weimer GreaneyMS STEPHANIE WEIMER GREANEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Raymond F Hamel JrMR RAYMOND F HAMEL JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
P Andrew Henderson JrP ANDREW HENDERSON JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Philip HoldenMR PHILIP HOLDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Brian JohnsonMR BRIAN JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr William D KelleherMR WILLIAM D KELLEHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Dennis J KelleyMR DENNIS J KELLEY
DIRECTOR (LEFT IN FY23)
- Total calculated
- $0
- Hours/week
- 1
-
Mr Eugene KennedyMR EUGENE KENNEDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Terrence G KennedyMR TERRENCE G KENNEDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Donald J KilbrideMR DONALD J KILBRIDE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Bo KimyachiMR BO KIMYACHI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Mark LundMR MARK LUND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr John L MacKinnonMR JOHN L MACKINNON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Daniel MagalettaMR DANIEL MAGALETTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Joseph E Mahoney JrMR JOSEPH E MAHONEY JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Thomas Martin JrMR THOMAS MARTIN JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ms Holly McGrathMS HOLLY MCGRATH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr John R McKennaMR JOHN R MCKENNA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Joseph R Nolan JrMR JOSEPH R NOLAN JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Joseph E OnstottMR JOSEPH E ONSTOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Sean RushMR SEAN RUSH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Sean P RiordanMR SEAN P RIORDAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Patrick J ScannellMR PATRICK J SCANNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Michael S WalkerMR MICHAEL S WALKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr John WattsMR JOHN WATTS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Todd H WetzelMR TODD H WETZEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr David F WilsonMR DAVID F WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mr Jeff MurphyMR JEFF MURPHY
DIRECTOR CLUB RELATIONS
- Total calculated
- $108,150
- From this org
- $103,000
- From related orgs
- $0
- Other
- $5,150
- 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
- 2022
- Filed
- 13 September 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312579349300911
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