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← ALBERT SHANKER COLLEGE SCHOLARSHIP FUND OF THE UNITED FED OF TEACHERS

Form 990 for tax year 2024

Filed by ALBERT SHANKER COLLEGE SCHOLARSHIP FUND OF THE UNITED FED OF TEACHERS.

Totals

Total revenue
$1,062,187
Total expenses
$972,605
Contributions and grants received
$0
Grants paid
$767,750
Program service revenue
$1,000,000
Investment income
$62,187
Other revenue
$0
Total assets, end of year
$1,280,273
Total liabilities, end of year
$600,422
Net assets or fund balances, end of year
$679,851
Program services expenses (Part IX)
$914,610
Management and general expenses
$57,995
Fundraising expenses
$0
Program service expenses (Part III)
$914,610

Program services were 94.0% 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.

  • 2a · Program service revenue: CONTRIBUTION-UFT WELFA

    total $1,000,000 · related or exempt $1,000,000

  • 3 · Investment income

    total $62,187 · excluded $62,187

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $767,750 · program services $767,750

  • 11b · Fees: legal

    total $1,500 · management and general $1,500

  • 11c · Fees: accounting

    total $9,500 · management and general $9,500

  • 13 · Office expenses

    total $3,881 · program services $3,044 · management and general $837

  • 14 · Information technology

    total $18,381 · management and general $18,381

  • 16 · Occupancy

    total $12,479 · management and general $12,479

  • 23 · Insurance

    total $337 · management and general $337

  • 24a · Other expenses: ALLOCATED SALARIES, BEN

    total $115,738 · program services $100,777 · management and general $14,961

  • 24b · Other expenses: SCHOLARSHIP AWARDS CERE

    total $42,539 · program services $42,539

  • 24c · Other expenses: SELECTION COMMITTE

    total $500 · program services $500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,921 · end of year -$11,746

  • 2 · Savings and temporary cash investments

    beginning of year $1,113,085 · end of year $1,290,707

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,312 · end of year $1,312

  • 17 · Accounts payable and accrued expenses

    beginning of year $117,299 · end of year $95,172

  • 25 · Other liabilities

    beginning of year $433,750 · end of year $505,250

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $590,269 · end of year $679,851

Mission and programs · 2024

Mission

TO PROVIDE SCHOLARSHIPS TO NYS PUBLIC HIGH SCHOOL STUDENTS FROM LOW INCOME FAMILIES SO THEY CAN ATTEND COLLEGE.

Activities or mission (Part I)

TO PROVIDE SCHOLARSHIPS FOR STUDENTS OF LOW INCOME FAMILIES

  • CONTRIBUTIONS FROM THE UFT WELFARE FUND ARE USED TO PROVIDE TUITION ASSISTANCE. THIS FUND PROVIDES SCHOLARSHIPS FOR GRADUATING SENIORS OF NYC HIGH SCHOOLS. AWARDS ARE GRANTED TO THOSE WHO MEET ACADEMIC STANDARDS AND WHOSE FAMILY INCOME IS WITHIN PRESCRIBED LIMITS.

    Expenses $914,610 · Grants $767,750 · Revenue $1,000,000

As filed on the 2024 return.

Listed in Part VII

  • Michael Mulgrew

    TRUSTEE

    Total calculated
    $431,657
    From this org
    $0
    From related orgs
    $347,082
    Other
    $84,575
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $340,887 related
    Bonus
    $0
    Other
    $0 + $6,195 related
    Deferred
    $0 + $51,085 related
    Nontaxable benefits
    $0 + $33,490 related
    Filer's total
    $0 + $431,657 related

  • Leo Gordon

    TRUSTEE

    Total calculated
    $103,335
    From this org
    $0
    From related orgs
    $82,668
    Other
    $20,667
    Hours/week
    1 + 30 related

  • Richard Mantell

    TRUSTEE

    Total calculated
    $96,018
    From this org
    $0
    From related orgs
    $76,814
    Other
    $19,204
    Hours/week
    1 + 30 related

  • Janella Hinds

    TRUSTEE

    Total calculated
    $130,961
    From this org
    $0
    From related orgs
    $104,769
    Other
    $26,192
    Hours/week
    1 + 30 related

  • Tom Brown

    TRUSTEE

    Total calculated
    $104,511
    From this org
    $0
    From related orgs
    $83,210
    Other
    $21,301
    Hours/week
    1 + 30 related

  • Elizabeth Perez

    TRUSTEE

    Total calculated
    $268,803
    From this org
    $0
    From related orgs
    $231,361
    Other
    $37,442
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $231,361 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,655 related
    Nontaxable benefits
    $0 + $13,787 related
    Filer's total
    $0 + $268,803 related

  • Mary Jo Ginese

    TRUSTEE

    Total calculated
    $232,091
    From this org
    $0
    From related orgs
    $201,809
    Other
    $30,282
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,809 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $16,495 related
    Nontaxable benefits
    $0 + $13,787 related
    Filer's total
    $0 + $232,091 related

  • Joseph Usatch

    DIRECTOR

    Total calculated
    $261,250
    From this org
    $0
    From related orgs
    $202,973
    Other
    $58,277
    Hours/week
    2 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,973 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $58,277 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $261,250 related

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

No itemized grants to organizations 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
2024
Filed
2 March 2026
IRS schema version
2024v5.5
Source object
202610799349300711

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