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Nonprofiteer
← LESTER I BEAL MEMORIAL SCHOLARSHIP FUND

Form 990 for tax year 2023

Filed by LESTER I BEAL MEMORIAL SCHOLARSHIP FUND.

Totals

Total revenue
$18,010
Total expenses
$27,842
Contributions and grants received
$0
Grants paid
$16,074
Program service revenue
$0
Investment income
$18,010
Other revenue
$0
Total assets, end of year
$793,610
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$793,610
Program services expenses (Part IX)
$21,870
Management and general expenses
$5,972
Fundraising expenses
$0
Program service expenses (Part III)
$21,870

Program services were 78.6% 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.

  • 3 · Investment income

    total $20,661 · excluded $20,661

  • 7a · Gross sales of assets other than inventory

    securities $454,225

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

    securities $456,876

  • 7c · Gain or loss

    securities -$2,651

  • 7d · Net gain or loss

    total -$2,651 · excluded -$2,651

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,074 · program services $16,074

  • 5 · Compensation of officers, directors and key employees

    total $11,592 · program services $5,796 · management and general $5,796

  • 24a · Other expenses: FOREIGN TAXES

    total $176 · management and general $176

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $60,480 · end of year $36,529

  • 11 · Investments: publicly traded securities

    beginning of year $742,311 · end of year $757,081

  • 29 · Capital stock, trust principal or current funds

    beginning of year $802,791 · end of year $793,610

Mission and programs · 2023

Mission

FINANCIAL SUPPORT FOR THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY

  • FINANCIAL SUPPORT FOR MASSACHUSETTS INSTITUTE OF TECHNOLOGY

    Expenses $21,870 · Grants $16,074

As filed on the 2023 return.

Listed in Part VII

  • Pnc Bank N A

    TRUSTEE

    Total calculated
    $11,592
    From this org
    $11,592
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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

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
27 March 2024
IRS schema version
2023v5.0
Source object
202421089349300812

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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