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← MV VISION FELLOWSHIP FUND

Form 990 for tax year 2022

Filed by MV VISION FELLOWSHIP FUND.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 14 May 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 Davis
  • Nancy S Kohlberg
  • Pam Kohlberg
  • Rick Karney
  • Tom Chase

Listed only on the later return

  • Karen Kohlberg Davis
  • Pamela Kohlberg
  • Richard Karney
  • Thomas Chase

Listed under a different title

  • Jennifer Magnone: SECT'Y/TREAS. then DIRECTOR
  • Melissa Hackney: EXECUTIVE DIRECTOR then ED/SECRETARY
  • Nancy McCabe: PRESIDENT then VICE-PRESIDE

Totals

Total revenue
$196,206
Total expenses
$761,071
Contributions and grants received
$0
Grants paid
$523,057
Program service revenue
$0
Investment income
$195,626
Other revenue
$580
Total assets, end of year
$6,468,251
Total liabilities, end of year
$19,235
Net assets or fund balances, end of year
$6,449,016
Program services expenses (Part IX)
$689,054
Management and general expenses
$72,017
Fundraising expenses
$0
Program service expenses (Part III)
$689,054

Program services were 90.5% 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.

  • 3 · Investment income

    total $124,006 · excluded $124,006

  • 7a · Gross sales of assets other than inventory

    securities $71,620

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

    securities $0

  • 7c · Gain or loss

    securities $71,620

  • 7d · Net gain or loss

    total $71,620 · excluded $71,620

  • 11a · Other revenue: KISCO TAX EXEMPT INVES

    total $580 · excluded $580

  • 11e · Other revenue, total

    $580

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $174,254 · program services $174,254

  • 2 · Grants to domestic individuals

    total $348,803 · program services $348,803

  • 7 · Other salaries and wages

    total $106,468 · program services $100,955 · management and general $5,513

  • 8 · Pension plan contributions

    total $9,815 · program services $9,815

  • 9 · Other employee benefits

    total $3,680 · program services $2,718 · management and general $962

  • 10 · Payroll taxes

    total $8,678 · program services $8,148 · management and general $530

  • 11b · Fees: legal

    total $14,049 · management and general $14,049

  • 11c · Fees: accounting

    total $21,850 · management and general $21,850

  • 11g · Fees: other

    total $14,350 · program services $14,350

  • 12 · Advertising and promotion

    total $211 · management and general $211

  • 13 · Office expenses

    total $5,406 · program services $5,406

  • 14 · Information technology

    total $15,221 · program services $15,221

  • 16 · Occupancy

    total $6,500 · program services $6,500

  • 19 · Conferences, conventions and meetings

    total $535 · program services $521 · management and general $14

  • 22 · Depreciation, depletion and amortization

    total $1,060 · management and general $1,060

  • 23 · Insurance

    total $7,893 · program services $734 · management and general $7,159

  • 24a · Other expenses: K-1 EXPENSES

    total $16,830 · management and general $16,830

  • 24b · Other expenses: FOREIGN TAXES ON K-1

    total $2,856 · management and general $2,856

  • 24c · Other expenses: CANDIDATE SELECTION

    total $1,629 · program services $1,629

  • 24d · Other expenses: STATE TAXES/LICENSES

    total $983 · management and general $983

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $78,327 · end of year $22,882

  • 2 · Savings and temporary cash investments

    beginning of year $1,435,009 · end of year $779,929

  • 3 · Pledges and grants receivable

    beginning of year $21,936

  • 9 · Prepaid expenses and deferred charges

    beginning of year $498

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

    $11,200

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

    $8,195

  • 10c · Land, buildings and equipment, net

    beginning of year $1,680 · end of year $3,005

  • 12 · Investments: other securities

    beginning of year $6,658,347 · end of year $5,662,435

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,588 · end of year $19,235

  • 27 · Net assets without donor restrictions

    beginning of year $8,178,209 · end of year $6,449,016

Mission and programs · 2022

Mission

AMONG THE PURPOSES OF MV VISION FELLOWSHIP FUND IS THE AWARDING OF SCHOLARSHIP GRANTS TO OTHER 501(C) (3) CHARITIES AND/OR DIRECTLY TO THE INDIVIDUALS TO ENABLE THEM TO PURSUE STUDIES OR CONDUCT RESEARCH TO MEET THE REQUIREMENTS OF A DEGREE, GRADUATE DEGREE, PROFESSIONAL CERTIFICATION OR OTHER APPROPRIATE TRAINING, AND THE AWARDING OF STIPENDS FOR INTERNSHIPS, TRAVEL EXPENSE GRANTS, TECHNOLOGY GRANTS AND OTHER EDUCATIONAL PROGRAM GRANTS TO PROVIDE A SCHOLARSHIP EXPERIENCE THAT EXTENDS BEYOND TRADITIONAL TUITION, ROOM AND BOARD SCHOLARSHIP PROGRAMS.

Activities or mission (Part I)

THE PRIMARY EXEMPT PURPOSE OF MV VISION FELLOWSHIP FUND IS TO PROVIDE AN EXTRAORDINARY HIGHER EDUCATION FOR SELECTED SCHOLARS.

  • DESCRIPTION: MARTHA'S VINEYARD VISION FELLOWSHIPIN 2022, THE MV VISION FELLOWSHIP FUND SUPPORTED 20 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, COMPUTERS 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 $689,054 · Grants $523,057

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jennifer Magnone

    SECT'Y/TREAS.

    Total calculated
    $0
    Hours/week
    1 + 3.5 related

  • Karen K Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nancy McCabe

    PRESIDENT

    Total calculated
    $466,031
    From this org
    $0
    From related orgs
    $394,369
    Other
    $71,662
    Hours/week
    4 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $394,369 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $39,506 related
    Nontaxable benefits
    $0 + $32,156 related
    Filer's total
    $0 + $466,031 related

  • Nancy S Kohlberg

    CHAIRMAN (DECEASED 8/25/22)

    Total calculated
    $0
    Hours/week
    1 + 7.75 related

  • Pam Kohlberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rick Karney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Chase

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Melissa Hackney

    EXECUTIVE DIRECTOR

    Total calculated
    $110,770
    From this org
    $100,955
    From related orgs
    $0
    Other
    $9,815
    Hours/week
    30

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

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
2022
Filed
17 January 2024
IRS schema version
2022v5.0
Source object
202440179349301229

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