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Morse High School Scholarship Fund

Tax-deductible

Bath, ME501(c)(3)Education EIN 01-6014236Revenue $782K in FY2025Latest return filed Feb 19, 2026

On file with the IRSPo Box 1030, 04530-1030 · Bath, METax-exempt since Apr 1965Publicly supported — 509(a)(2)

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Scholarships and academic awards

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 12 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $131K a year · 33% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Plus $3.9M in investments, Pt X · Ln 11–13
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $80K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$782K
+279% vs prior year
Spent
$338K
To programs
89%
Net assets
$4.0M
By yearFY2021–FY2025
Revenue
$782K
FY2025▲ +279%
Tap a bar for its year
Revenue by fiscal year
FY2021$412K
FY2022$402K
FY2023$192K
FY2024$206K
FY2025$782K
Expenses
$338K
FY2025▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2021$222K
FY2022$231K
FY2023$296K
FY2024$250K
FY2025$338K
Net assets
$4.0M
FY2025▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.5M
FY2022$3.7M
FY2023$3.6M
FY2024$3.5M
FY2025$4.0M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1965.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $300K Management & general 11% · $38K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Brad Walfield
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Hatch
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jessica Avery
President
$0Pt VII · Sec A
Holly Lowe
Director
$0Pt VII · Sec A
See Morse High School Scholarship Fund executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides scholarships and academic awards to support students' education.

Questions for Morse High School Scholarship Fund

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1 program · $300K · in their own filed words · FY2024
01

Scholarships, grants, and achievement awards to graduates of morse high school, bath, me.

$300Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Muriel L McCaffrey Education TrFY2024$80K
Total grants receivedfrom 1 funder$80K
Grants paid · 5 grants · $1.2M · 2020–2024
Unitemized GrantFY2024$300,109
Unitemized GrantFY2023$218,164
Unitemized GrantFY2022$263,950
Unitemized GrantFY2021$195,740
Unitemized GrantFY2020$189,665

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$782K
Ln 12
Investment incomeLn 3$494K
Gifts and grantsLn 1h$288K
Money outPt IX
$338K
Ln 25
Programscol B$300K
Managementcol C$38K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$95K
Total assetsLn 16$4.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$288K
Noncash giftsLn 1g$126K
Investment incomeLn 3$494K
Gains on assetsLn 7$375K
Total revenueLn 12$782K
Assets in detailPt X, end of year
SavingsLn 2$95K
Cash and savings togetherLn 1–2$95K
InvestmentsLn 11–13$3.9M
Total assetsLn 16$4.0M
LiabilitiesLn 26$0
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$126K
EndowmentSch D · Pt V
LineFY25FY24
End of yearLn 1g$3.4M$3.4M
Given inLn 1b$3K
SpentLn 1d–1f$110K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$148K$95K
InvestmentsLn 11–13$3.4M$3.9M
Total assetsLn 16$3.5M$4.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.5M$4.0M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$300K$300K
Accounting feesLn 11c$1K$1K
Investment management feesLn 11f$35K$35K
InsuranceLn 23$533$533
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$338K$300K$38K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Feb 19, 2026 $782K$338K$444K$4.0M 990 PDF
FY2024Filed with the IRS Nov 8, 2024 $206K$250K−$44K$3.5M 990 PDF
FY2023Filed with the IRS Oct 24, 2023 $192K$296K−$104K$3.6M 990 PDF
FY2022Filed with the IRS Nov 2, 2022 $402K$231K$171K$3.7M 990 PDF
FY2021Filed with the IRS Nov 10, 2021 $412K$222K$190K$3.5M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $781,875 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $110,704$288,367
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $95,691$493,508
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $206,395$781,875
I-13 Grants and similar amounts paidPrior year $218,164$300,109
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $31,794$37,806
I-18 Total expensesPrior year $249,958$337,915
I-19 Revenue less expensesPrior year −$43,563$443,960
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $781,875 across 6 lines filed
VIII-1f All other contributions, gifts and grants$288,367
VIII-1g Noncash contributions (included above)$126,031
VIII-1h Total contributions, gifts and grants$288,367
VIII-3 Investment incomeExcluded from tax $118,204$118,204
VIII-7 Net gain or loss on sales of assetsExcluded from tax $375,304$375,304
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $493,508$781,875
Part IX · Statement of functional expenses $337,915 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $300,109$300,109
IX-11c Accounting feesManagement $1,135$1,135
IX-11f Investment management feesManagement $35,134$35,134
IX-23 InsuranceManagement $533$533
IX-24 Other expenses (24a–d)Management $1,004$1,004
IX-25 Total functional expensesPrograms $300,109 · Management $37,806 · Fundraising $0$337,915
Part X · Balance sheet $3,957,936 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $147,665$95,161
X-11 Publicly traded securitiesStart of year $3,366,311$3,862,775
X-16 Total assetsStart of year $3,513,976$3,957,936
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $3,256,861$3,784,669
X-28 Net assets with donor restrictionsStart of year $257,115$173,267
X-32 Total net assets or fund balancesStart of year $3,513,976$3,957,936
X-33 Total liabilities and net assetsStart of year $3,513,976$3,957,936
Part XI · Reconciliation of net assets $3,957,936 net assets at year end
XI-1 Total revenue$781,875
XI-2 Total expenses$337,915
XI-3 Revenue less expenses$443,960
XI-4 Net assets at start of year$3,513,976
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,957,936

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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