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Nonprofiteer
← DANIEL MURPHY SCHOLARSHIP FUND

Form 990 for tax year 2024

Filed by DANIEL MURPHY SCHOLARSHIP FUND.

Totals

Total revenue
$6,775,501
Total expenses
$6,109,791
Contributions and grants received
$6,655,769
Grants paid
$2,222,976
Program service revenue
$0
Investment income
$475,681
Other revenue
-$355,949
Total assets, end of year
$14,384,925
Total liabilities, end of year
$2,449,669
Net assets or fund balances, end of year
$11,935,256
Program services expenses (Part IX)
$4,595,493
Management and general expenses
$381,009
Fundraising expenses
$1,133,289
Program service expenses (Part III)
$4,595,493

Program services were 75.2% 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

    $4,473,106

  • 1f · All other contributions, gifts and grants

    $2,182,663

  • 1g · Noncash contributions included above

    $474,610

  • 3 · Investment income

    total $305,864 · excluded $305,864

  • 7a · Gross sales of assets other than inventory

    securities $1,382,889

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

    securities $1,213,072

  • 7c · Gain or loss

    securities $169,817

  • 7d · Net gain or loss

    total $169,817 · excluded $169,817

  • 8a · Fundraising events: gross income

    $525,170

  • 8a · Fundraising events: contributions included on line 1c

    $4,473,106

  • 8b · Fundraising events: direct expenses

    $881,119

  • 8c · Net income from fundraising events

    total -$355,949 · excluded -$355,949

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,222,976 · program services $2,222,976

  • 5 · Compensation of officers, directors and key employees

    total $250,138 · program services $100,055 · management and general $50,028 · fundraising $100,055

  • 7 · Other salaries and wages

    total $1,243,809 · program services $899,609 · management and general $56,009 · fundraising $288,191

  • 8 · Pension plan contributions

    total $20,653 · program services $15,502 · management and general $659 · fundraising $4,492

  • 9 · Other employee benefits

    total $105,522 · program services $70,726 · management and general $7,434 · fundraising $27,362

  • 10 · Payroll taxes

    total $122,361 · program services $82,013 · management and general $8,620 · fundraising $31,728

  • 11c · Fees: accounting

    total $112,483 · program services $49,513 · management and general $43,874 · fundraising $19,096

  • 11f · Fees: investment management

    total $67,864 · management and general $67,864

  • 11g · Fees: other

    total $351,628 · program services $40,643 · management and general $12,609 · fundraising $298,376

  • 12 · Advertising and promotion

    total $85,006 · program services $32,546 · management and general $5,419 · fundraising $47,041

  • 13 · Office expenses

    total $44,185 · program services $16,917 · management and general $2,818 · fundraising $24,450

  • 14 · Information technology

    total $150,834 · program services $57,750 · management and general $9,615 · fundraising $83,469

  • 16 · Occupancy

    total $470,121 · program services $401,800 · management and general $14,824 · fundraising $53,497

  • 17 · Travel

    total $269,390 · program services $262,678 · management and general $209 · fundraising $6,503

  • 19 · Conferences, conventions and meetings

    total $278,485 · program services $265,182 · management and general $5,655 · fundraising $7,648

  • 22 · Depreciation, depletion and amortization

    total $21,250 · program services $14,238 · management and general $1,521 · fundraising $5,491

  • 23 · Insurance

    total $40,573 · program services $24,517 · management and general $6,601 · fundraising $9,455

  • 24a · Other expenses: FUNDRAISING

    total $126,435 · fundraising $126,435

  • 24b · Other expenses: BAD DEBT

    total $87,250 · management and general $87,250

  • 24c · Other expenses: TUTORING

    total $38,828 · program services $38,828

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,138 · end of year $308

  • 2 · Savings and temporary cash investments

    beginning of year $1,612,617 · end of year $1,684,543

  • 3 · Pledges and grants receivable

    beginning of year $712,055 · end of year $424,310

  • 9 · Prepaid expenses and deferred charges

    beginning of year $188,297 · end of year $54,772

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

    $167,645

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

    $133,970

  • 10c · Land, buildings and equipment, net

    beginning of year $47,187 · end of year $33,675

  • 11 · Investments: publicly traded securities

    beginning of year $10,437,954 · end of year $12,156,283

  • 15 · Other assets

    beginning of year $239,089 · end of year $31,034

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,026 · end of year $237,185

  • 18 · Grants payable

    beginning of year $1,852,661 · end of year $2,193,172

  • 19 · Deferred revenue

    beginning of year $406,512 · end of year $1,125

  • 25 · Other liabilities

    beginning of year $235,823 · end of year $18,187

  • 27 · Net assets without donor restrictions

    beginning of year $7,144,666 · end of year $7,911,404

  • 28 · Net assets with donor restrictions

    beginning of year $3,445,649 · end of year $4,023,852

Mission and programs · 2024

Mission

SEE PART I LINE 1.

Activities or mission (Part I)

THE MISSION OF THE DANIEL MURPHY SCHOLARSHIP FUND IS TO GIVE HIGH SCHOOL SCHOLARSHIP ASSISTANCE AND EDUCATIONAL SUPPORT TO CHICAGO STUDENTS FROM ECONOMICALLY DISADVANTAGED BACKGROUNDS. THE FUND SEEKS TO MAKE A LIFE-ALTERING DIFFERENCE IN THE LIVES OF ITS SCHOLARS BY PROVIDING THEM WITH THE BEST OPPORTUNITY TO SUCCEED IN HIGH SCHOOL AND COLLEGE.

  • FINANCIAL ASSISTANCE - THE FUND PROVIDES SCHOLARSHIPS AND OTHER FINANCIAL SUPPORT TO ECONOMICALLY DISADVANTAGED CHICAGO AREA STUDENTS ALLOWING THEM TO ATTEND LEADING PRIVATE AND PAROCHIAL HIGH SCHOOLS IN THE CHICAGO AREA AND TOP BOARDING SCHOOLS ACROSS THE COUNTRY. DURING THE 2024/2025 AND 2023/2024 SCHOOL YEARS, THE FUND SERVED 495 AND 444 SCHOLARS, RESPECTIVELY.

    Expenses $3,726,115 · Grants $2,222,976

  • COLLEGE COUNSELING - THE FUND WORKS WITH SCHOLARS THROUGHOUT THEIR FOUR YEARS IN HIGH SCHOOL AND MOST INTENSIVELY IN THEIR JUNIOR AND SENIOR YEARS, ASSISTING THE SCHOLARS AS THEY SEARCH FOR AN APPROPRIATE COLLEGE AND FOR FUNDING TO HELP PAY FOR THAT COLLEGE.

    Expenses $159,188

  • SUMMER OPPORTUNITIES, INCLUDING THE CADDIE PROGRAM - THE OBJECTIVE OF THE SUMMER OPPORTUNITIES PROGRAM IS TO PRESENT SCHOLARS WITH SUMMER JOB OPPORTUNITIES, INTERNSHIPS, CULTURAL AND STUDY ABROAD PROGRAMS, SPORTS PROGRAMS AND COMMUNITY SERVICE PROGRAMS. AS PART OF THE SUMMER OPPORTUNITIES PROGRAM, THE FUND PROVIDES SUMMER GOLF CADDIE EMPLOYMENT OPPORTUNITIES FOR SCHOLARS. SCHOLARS CADDIE AT NEARBY COUNTRY CLUBS, EARNING INCOME, GAINING WORK EXPERIENCE AND DEVELOPING LIFE SKILLS.

    Expenses $263,087

  • MENTORING - SCHOLARS WHO WISH TO PARTICIPATE ARE MATCHED WITH AN ADULT MENTOR FOR THEIR FOUR YEARS IN HIGH SCHOOL. THE FUND ALSO OPERATES AN AFFINITY PROGRAM, IN WHICH TEN TO FIFTEEN STUDENTS MEET EVERY OTHER WEEK WITH AN ADULT FACILITATOR TO DISCUSS ISSUES COMMON TO MANY OF THE SCHOLARS.TUTORING - THE FUND HELPS FIND AND FUND TUTORS FOR SCHOLARS WHOSE GPAS FALL BELOW 3.0 OR WHO SEEK ADDITIONAL HELP. THE FUND ALSO OPERATES A VIRTUAL TUTORING PLATFORM DURING THE SCHOOL YEAR.BRIDGE TO EXCELLENCE - THE FUND WORKS WITH LEAP! LEARNING SYSTEMS AND EDUCATIONAL ENDEAVORS TO PROVIDE TWO WEEKS OF MANDATORY CLASSES FOR ALL INCOMING FRESHMAN SCHOLARS, FOCUSING ON LANGUAGE SKILLS, TIME MANAGEMENTS, STUDY SKILLS AND CRITICAL THINKING.

    Expenses $447,103

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cindy Hallums

    EXECUTIVE DIRECTOR

    Total calculated
    $240,805
    From this org
    $234,667
    From related orgs
    $0
    Other
    $6,138
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,667
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,138
    Filer's total
    $240,805

  • Jennifer R Townsel

    CHIEF EDUCATION OFFICER

    Total calculated
    $171,911
    From this org
    $160,404
    From related orgs
    $0
    Other
    $11,507
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,404
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,507
    Filer's total
    $171,911

  • Thomas Ramsden

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $131,106
    From this org
    $119,392
    From related orgs
    $0
    Other
    $11,714
    Hours/week
    40

  • Rocky Lopez

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Molly Carroll

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Michael King

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Brad Schotanus

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Teri Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Olivia Carberry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Kevin Conway

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Mary Jo Demaio

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Michael Early

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Mark Ferguson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Fred Fisher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Tony Goodman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Yan Krasov

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jennifer Richert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Frank Schmitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 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
2024
Filed
17 March 2026
IRS schema version
2024v5.5
Source object
202620799349301217

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