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Nonprofiteer
← MV VISION FELLOWSHIP FUND

Form 990 for tax year 2024

Filed by MV VISION FELLOWSHIP FUND.

Totals

Total revenue
$1,210,258
Total expenses
$982,704
Contributions and grants received
$800,000
Grants paid
$765,854
Program service revenue
$0
Investment income
$410,258
Other revenue
$0
Total assets, end of year
$7,254,713
Total liabilities, end of year
$2,385
Net assets or fund balances, end of year
$7,252,328
Program services expenses (Part IX)
$939,269
Management and general expenses
$43,435
Fundraising expenses
$0
Program service expenses (Part III)
$939,269

Program services were 95.6% 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

    $800,000

  • 3 · Investment income

    total $171,592 · excluded $171,592

  • 7a · Gross sales of assets other than inventory

    securities $913,716

  • 7b · Less cost or other basis and sales expenses

    securities $675,050

  • 7c · Gain or loss

    securities $238,666

  • 7d · Net gain or loss

    total $238,666 · excluded $238,666

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $286,382 · program services $286,382

  • 2 · Grants to domestic individuals

    total $479,472 · program services $479,472

  • 5 · Compensation of officers, directors and key employees

    total $133,065 · program services $133,065

  • 7 · Other salaries and wages

    total $5,575 · management and general $5,575

  • 10 · Payroll taxes

    total $10,008 · program services $9,298 · management and general $710

  • 11c · Fees: accounting

    total $7,585 · management and general $7,585

  • 11f · Fees: investment management

    total $15,815 · management and general $15,815

  • 11g · Fees: other

    total $12,189 · program services $12,189

  • 12 · Advertising and promotion

    total $41 · program services $41

  • 13 · Office expenses

    total $4,080 · program services $4,080

  • 14 · Information technology

    total $1,991 · program services $1,991

  • 22 · Depreciation, depletion and amortization

    total $893 · management and general $893

  • 23 · Insurance

    total $12,327 · program services $372 · management and general $11,955

  • 24a · Other expenses: GROUP EVENTS

    total $12,379 · program services $12,379

  • 24b · Other expenses: STATE TAXES AND LICENSE

    total $902 · management and general $902

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,241 · end of year $662,440

  • 2 · Savings and temporary cash investments

    beginning of year $931,780 · end of year $1,056,836

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,723 · end of year $4,723

  • 10a · Land, buildings and equipment: cost or other basis

    $11,200

  • 10b · Land, buildings and equipment: accumulated depreciation

    $10,486

  • 10c · Land, buildings and equipment, net

    beginning of year $1,608 · end of year $714

  • 12 · Investments: other securities

    beginning of year $5,888,000 · end of year $5,530,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,816 · end of year $2,385

  • 27 · Net assets without donor restrictions

    beginning of year $6,869,536 · end of year $7,252,328

Mission and programs · 2024

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 ADMISSIONS, 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 2025, THE MV VISION FELLOWSHIP FUND SUPPORTED 32 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 ARE INTERVIEWED AND SELECTED IN MARCH. SINCE JANUARY 1, 2014, AN ON-ISLAND PROGRAM OFFICER HAS MANAGED THIS PROGRAM.

    Expenses $939,269 · Grants $765,854

As filed on the 2024 return.

Listed in Part VII

  • Karen Kohlberg Davis

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Pamela Kohlberg

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Nancy McCabe

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Thomas Chase

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Richard Karney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jake Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Jennifer Magnone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melissa Hackney

    EXECUTIVE DIRECTOR

    Total calculated
    $128,116
    From this org
    $115,027
    From related orgs
    $0
    Other
    $13,089
    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.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
18 December 2025
IRS schema version
2024v5.2
Source object
202600369349301455

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