What the amendment changed
Compared with the return it replaced , filed 17 January 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.
- Total revenue
- $196,206 changed to $59,735
- Total expenses
- $761,071 changed to $447,806
- Contributions and grants received
- $0 changed to $50,000
- Grants paid
- $523,057 changed to $366,485
- Investment income
- $195,626 changed to $9,735
- Other revenue
- $580 changed to $0
- Total assets, end of year
- $6,468,251 changed to $6,553,217
- Total liabilities, end of year
- $19,235 changed to $24,457
- Net assets or fund balances, end of year
- $6,449,016 changed to $6,528,760
- Program services expenses
- $689,054 changed to $441,526
- Management and general expenses
- $72,017 changed to $6,280
- Program service expenses (Part III)
- $689,054 changed to $441,526
Listed only on the earlier return
- Karen K DavisKAREN K DAVIS
- Nancy S KohlbergNANCY S KOHLBERG
- Pam KohlbergPAM KOHLBERG
- Rick KarneyRICK KARNEY
- Tom ChaseTOM CHASE
Listed only on the later return
- Karen Kohlberg DavisKAREN KOHLBERG DAVIS
- Pamela KohlbergPAMELA KOHLBERG
- Richard KarneyRICHARD KARNEY
- Thomas ChaseTHOMAS CHASE
Listed under a different title
- Jennifer MagnoneJENNIFER MAGNONE: SECT'Y/TREAS. then DIRECTOR
- Melissa HackneyMELISSA HACKNEY: EXECUTIVE DIRECTOR then ED/SECRETARY
- Nancy McCabeNANCY MCCABE: PRESIDENT then VICE-PRESIDE
Totals
- Total revenue
- $59,735
- Total expenses
- $447,806
- Contributions and grants received
- $50,000
- Grants paid
- $366,485
- Program service revenue
- $0
- Investment income
- $9,735
- Other revenue
- $0
- Total assets, end of year
- $6,553,217
- Total liabilities, end of year
- $24,457
- Net assets or fund balances, end of year
- $6,528,760
- Program services expenses (Part IX)
- $441,526
- Management and general expenses
- $6,280
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $441,526
Program services were 98.6% 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.
-
1f · All other contributions, gifts and grants
$50,000
-
3 · Investment income
total $9,735 · excluded $9,735
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $189,202 · program services $189,202
-
2 · Grants to domestic individuals
total $177,283 · program services $177,283
-
5 · Compensation of officers, directors and key employees
total $53,031 · program services $50,380 · management and general $2,651
-
7 · Other salaries and wages
total $2,807 · management and general $2,807
-
10 · Payroll taxes
total $4,417 · program services $4,196 · management and general $221
-
11g · Fees: other
total $5,869 · program services $5,869
-
13 · Office expenses
total $5,080 · program services $5,080
-
22 · Depreciation, depletion and amortization
total $466 · management and general $466
-
23 · Insurance
total $186 · program services $186
-
24a · Other expenses: GROUP EVENTS
total $8,204 · program services $8,204
-
24b · Other expenses: TELEPHONE
total $898 · program services $898
-
24c · Other expenses: CANDIDATE SELECTION
total $228 · program services $228
-
24d · Other expenses: STATE TAXES AND LICENSES
total $135 · management and general $135
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $22,882 · end of year $125,542
-
2 · Savings and temporary cash investments
beginning of year $779,929 · end of year $1,096,136
-
10a · Land, buildings and equipment: cost or other basis
$11,200
-
10b · Land, buildings and equipment: accumulated depreciation
$8,661
-
10c · Land, buildings and equipment, net
beginning of year $3,005 · end of year $2,539
-
12 · Investments: other securities
beginning of year $5,662,435 · end of year $5,329,000
-
17 · Accounts payable and accrued expenses
beginning of year $19,235 · end of year $24,457
-
27 · Net assets without donor restrictions
beginning of year $6,449,016 · end of year $6,528,760
Mission and programs · 2022
Mission
TO EMPOWER STUDENTS TO DEVELOP THEMSELVES AS CRITICAL THINKERS, COMPASSIONATE CITIZENS, AND ENGAGED PARTICIPANTS IN LOCAL AND WORLD AFFAIRS.
Activities or mission (Part I)
THE CORPORATION'S MISSION IS TO PROVIDE AN EXTRAORDINARY HIGHER EDUCATION EXPERIENCE FOR PROMISING COLLEGE STUDENTS WHOSE ACHIEVEMENTS DEMONSTRATE INTEGRITY, INTELLIGENCE, RIGOR AND A COMMITMENT TO GIVE BACK TO THOSE PEOPLE AND INSTITUTIONS WHO HAVE SUPPORTED THEM. WORKING WITH THE ADMINSSIONS, STUDENT SERVICES, ALUMNI AND CAREER OFFICES OF SELECTED COLLEGES, THE CORPORATION WILL IDENTIFY, INITIATE, DEVELOP, ADMINISTER, SUPERVISE, PROVIDE AND/OR FUND OR PROVIDE STIPENDS FOR AN ARRAY OF EDUCATIONAL ENRICHMENT PROGRAMS AND SUPPORT SERVICES FOR SELECTED SCHOLARS, WHICH MAY INCLUDE INTERNSHIPS, OPPORTUNITIES FOR COMMUNITY SERVICE, SUMMER OR EXTRA-CURRICULAR ENRICHMENT PROGRAMS, WORK-STUDY PROGRAMS, OFF-CAMPUS STUDY, TECHNOLOGY ENHANCEMENTS, INDIVIDUAL ACADEMIC AND CAREER COUNSELING, MENTORING PROGRAMS, AND AN ALUMNI NETWORK OF PARTICIPATING STUDENTS AND GRADUATES.
-
IN 2023, THE MV VISION FELLOWSHIP FUND SUPPORTED 24 INDIVIDUALS FROM MARTHA'S VINEYARD WORKING IN FIELDS RELATED TO SUSTAINABILITY ON THE ISLAND THROUGH THE MARTHA'S VINEYARD VISION FELLOWSHIP. THE FELLOWSHIP PROVIDED TUITION, ROOM AND BOARD, AND OPPORTUNITY GRANTS FOR INDIVIDUALS IN UNDERGRADUATE AND GRADUATE DEGREE PROGRAMS AND PROVIDED FUNDS FOR CAREER ENHANCEMENT ACTIVITIES FOR PROFESSIONALS IN NON-DEGREE PROGRAMS. NEW VISION FELLOWS WERE INTERVIEWED AND SELECTED IN MARCH. SINCE JANUARY 1, 2014, AN ON-ISLAND PROGRAM OFFICER HAS MANAGED THIS PROGRAM.
Expenses $441,526 · Grants $366,485
As filed on the 2022 return.
Listed in Part VII
-
Melissa HackneyMELISSA HACKNEY
ED/SECRETARY
- Total calculated
- $104,863
- From this org
- $99,955
- From related orgs
- $0
- Other
- $4,908
- Hours/week
- 40
-
Thomas ChaseTHOMAS CHASE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Karen Kohlberg DavisKAREN KOHLBERG DAVIS
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Richard KarneyRICHARD KARNEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Pamela KohlbergPAMELA KOHLBERG
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Jennifer MagnoneJENNIFER MAGNONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Nancy McCabeNANCY MCCABE
VICE-PRESIDE
- Total calculated
- $0
- Hours/week
- 5 + 40 related
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
-
VINEYARD POWER DEVELOPMENT FUND
$75,000
ENERGY TRANS. COORD.
-
$32,500
COMPOSTING
-
SUSTAINABLE SEAFOOD
-
MARTHA'S VINEYARD COMMISSION
$25,000
ENERGY PLANNER
-
AGRICULTURAL FILMS
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501C3 · PRESERVE · NY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202431369349310483
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