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Nonprofiteer
← CURTIS FUND INC

Form 990 for tax year 2023

Filed by CURTIS FUND INC.

Totals

Total revenue
$1,483,670
Total expenses
$2,494,314
Contributions and grants received
$364,486
Grants paid
$2,132,907
Program service revenue
$0
Investment income
$1,119,184
Other revenue
$0
Total assets, end of year
$33,022,351
Total liabilities, end of year
$7,105
Net assets or fund balances, end of year
$33,015,246
Program services expenses (Part IX)
$2,161,586
Management and general expenses
$246,440
Fundraising expenses
$86,288
Program service expenses (Part III)
$2,161,586

Program services were 86.7% 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

    $364,486

  • 3 · Investment income

    total $893,434 · excluded $893,434

  • 7a · Gross sales of assets other than inventory

    securities $225,750

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

    securities $0

  • 7c · Gain or loss

    securities $225,750

  • 7d · Net gain or loss

    total $225,750 · excluded $225,750

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,132,907 · program services $2,132,907

  • 5 · Compensation of officers, directors and key employees

    total $96,239 · program services $25,665 · management and general $3,845 · fundraising $66,729

  • 7 · Other salaries and wages

    total $6,421 · management and general $6,421

  • 11a · Fees: management

    total $110,710 · management and general $110,710

  • 11f · Fees: investment management

    total $49,225 · management and general $49,225

  • 11g · Fees: other

    total $383 · management and general $383

  • 12 · Advertising and promotion

    total $17,322 · program services $2,159 · fundraising $15,163

  • 13 · Office expenses

    total $2,466 · management and general $2,466

  • 14 · Information technology

    total $3,097 · management and general $445 · fundraising $2,652

  • 17 · Travel

    total $709 · management and general $17 · fundraising $692

  • 19 · Conferences, conventions and meetings

    total $1,347 · management and general $295 · fundraising $1,052

  • 22 · Depreciation, depletion and amortization

    total $855 · program services $855

  • 23 · Insurance

    total $3,163 · management and general $3,163

  • 24a · Other expenses: OTHER PROFESSIONAL SERV

    total $69,107 · management and general $69,107

  • 24b · Other expenses: DUES

    total $72 · management and general $72

  • 24e · All other expenses

    total $291 · management and general $291

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $202,182 · end of year $78,821

  • 2 · Savings and temporary cash investments

    beginning of year $68,566

  • 3 · Pledges and grants receivable

    end of year $180,581

  • 9 · Prepaid expenses and deferred charges

    end of year $41,219

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

    $2,565

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

    $1,211

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $1,354

  • 11 · Investments: publicly traded securities

    beginning of year $29,400,579 · end of year $32,720,376

  • 17 · Accounts payable and accrued expenses

    end of year $1,105

  • 18 · Grants payable

    end of year $6,000

  • 27 · Net assets without donor restrictions

    beginning of year $29,671,327 · end of year $32,304,038

  • 28 · Net assets with donor restrictions

    end of year $711,208

Mission and programs · 2023

Mission

THE CURTIS FUND PROVIDES EDUCATIONAL SCHOLARSHIPS TO VERMONT STUDENTS PURSUING A POSTSECONDARY EDUCATION, AIMING TO LEVEL THE PLAYING FIELD SO THAT EVERY VERMONTER HAS A CHANCE TO OBTAIN THE EDUCATION THEY NEED, REGARDLESS OF FAMILY BACKGROUND, INCOME LEVEL, OR BIRTHPLACE.

  • THE CURTIS FUND PROVIDES SCHOLARSHIPS TO RECENT VERMONT HIGH SCHOOL GRADUATES AND ADULT LEARNERS WHO DEMONSTRATED A FINANCIAL NEED AND CHOSE TO PURSUE POST-SECONDARY EDUCATION. IN ADDITION, THE PROGRAM HAS EXPANDED TO HIGH SCHOOL GRADUATES AND ADULT LEARNERS WHO MAY BE LOOKING FOR EDUCATIONAL OPPORTUNITIES IN CAREER DEVELOPMENT, COMMONLY REFERRED TO AS CREDENTIALS OF VALUE.

    Expenses $2,161,586 · Grants $2,132,907

As filed on the 2023 return.

Listed in Part VII

  • Daniel Smith

    SECRETARY

    Total calculated
    $290,462
    From this org
    $0
    From related orgs
    $229,526
    Other
    $60,936
    Hours/week
    0.5 + 51.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,526 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,718 related
    Nontaxable benefits
    $0 + $37,218 related
    Filer's total
    $0 + $290,462 related

  • Shana Trombley

    EXECUTIVE DIRECTOR

    Total calculated
    $96,239
    From this org
    $81,257
    From related orgs
    $0
    Other
    $14,982
    Hours/week
    40

  • Peggy Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Seth Bowden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Leilani Pearl

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Hillary Burrows

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Joan Goldstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Amy Mellencamp

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Metz

    VICE- PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Breen

    TREASURER

    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. 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

None.

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

  • VERMONT SCHOLARSHIP PROGRAM CO VERMONT STUDENT ASSISTANCE CORPORATION

    $1,974,907

    TO PROVIDE SCHOLARSHIP AWARDS FROM THE CURTIS FUND, INC.

  • VERMONT ASSOCIATION FOR THE EDUCATION OF YOUNG CHILDREN

    $146,000

    TO PROVIDE SCHOLARSHIP AWARDS FROM THE CURTIS FUND, INC. FOR INDIVIDUALS EARNING A EARLY CHILDHOOD EDUCATION CREDENTIAL.

  • COMMUNITY COLLEGE OF VERMONT

    $12,000

    TO PROVIDE SCHOLARSHIP AWARDS FROM THE CURTIS FUND, INC. FOR INDIVIDUALS EARNING A EARLY CHILDHOOD EDUCATION CREDENTIAL.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349326192

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