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Cape Cod Scholarships INC FY2023 filing

Tax-deductible

S Yarmouth, MA501(c)(3)Since 1902EducationEIN 04-3584321Revenue $476K in FY2023

On file with the IRScapecodassoc.org261 Whites Path Ste 2, 02664-1246 · S Yarmouth, MATax-exempt since May 2002Supporting organization — 509(a)(3)

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To provide scholarship money for continuing education to students from Cape Cod Massachusetts.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
5 of 6
filings with a surplus
Average surplus $361K a year · 35% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12K
0.09% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$476K
-38% vs prior year
Spent
$713K
To programs
100%
Net assets
$13.4M
By yearFY2020–FY2025
Revenue
$476K
FY2023▼ -38%
Tap a bar for its year
Revenue by fiscal year
FY2020$910K
FY2021$1.6M
FY2022$770K
FY2023$476K
FY2024$1.6M
FY2025$745K
Expenses
$713K
FY2023▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$596K
FY2021$646K
FY2022$731K
FY2023$713K
FY2024$668K
FY2025$671K
Net assets
$13.4M
FY2023▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.5M
FY2021$15.9M
FY2022$12.2M
FY2023$13.4M
FY2024$14.0M
FY2025$15.0M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2002.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $713K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Alan Chace
Treasurer
$0Pt VII · Sec A
John Fulone
Former Treas
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Nancy S Lowery
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Thayer
Director
$0Pt VII · Sec A
See Cape Cod Scholarships INC executive salaries →

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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

Offers scholarships for continuing education to Cape Cod students.

Questions for Cape Cod Scholarships INC

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Provided by the organization

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1 program · $713K · in their own filed words · FY2023
01

Grant program enables the distribution of scholarships to students from cape cod massachusetts.

$713Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $3.0M · 2020–2025
Unitemized GrantFY2025$515,500
Unitemized GrantFY2024$509,350
Unitemized GrantFY2023$490,750
Unitemized GrantFY2022$542,250
Unitemized GrantFY2021$469,500
Unitemized GrantFY2020$437,696

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$476K
Ln 12
Investment incomeLn 3$476K
Money outPt IX
$713K
Ln 25
Programscol B$713K
Owns and owesPt X
$13.4M
net assets · Ln 32
Cash and savingsLn 1–2$10K
Total assetsLn 16$13.5M
LiabilitiesLn 26$12K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$476K
Gains on assetsLn 7$132K
Total revenueLn 12$476K
Assets in detailPt X, end of year
CashLn 1$10K
Cash and savings togetherLn 1–2$10K
InvestmentsLn 11–13$13.4M
Total assetsLn 16$13.5M
LiabilitiesLn 26$12K
Net assetsLn 32$13.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$8K$10K
InvestmentsLn 11–13$12.2M$13.4M
Total assetsLn 16$12.2M$13.5M
LiabilitiesLn 26$25K$12K
Net assetsLn 32$12.2M$13.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$491K$491K
Management feesLn 11a$83K$83K
Investment management feesLn 11f$139K$139K
Office expensesLn 13$40$40
Other expenses (24a–d)Ln 24$170$170
Total functional expensesLn 25$713K$713K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $745K$671K$75K$15.0M 990 PDF
FY2024 $1.6M$668K$974K$14.0M 990 PDF
FY2023 Viewing $476K$713K−$237K$13.4M 990 PDF
FY2022 $770K$731K$39K$12.2M 990 PDF
FY2021 $1.6M$646K$1.0M$15.9M 990 PDF
FY2020 $910K$596K$314K$14.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $476,131 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,485$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $768,297$476,131
I-11 Other revenue$0
I-12 Total revenuePrior year $769,782$476,131
I-13 Grants and similar amounts paidPrior year $542,250$490,750
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $188,993$222,679
I-18 Total expensesPrior year $731,243$713,429
I-19 Revenue less expensesPrior year $38,539−$237,298
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $476,131 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $343,632$343,632
VIII-7 Net gain or loss on sales of assetsExcluded from tax $132,499$132,499
VIII-12 Total revenueExcluded from tax $476,131$476,131
Part IX · Statement of functional expenses $713,429 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $490,750$490,750
IX-11a Management feesPrograms $82,980$82,980
IX-11f Investment management feesPrograms $139,489$139,489
IX-13 Office expensesPrograms $40$40
IX-24 Other expenses (24a–d)Programs $170$170
IX-25 Total functional expensesPrograms $713,429 · Management $0 · Fundraising $0$713,429
Part X · Balance sheet $13,453,575 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $7,800$9,867
X-11 Publicly traded securitiesStart of year $12,214,279$13,443,708
X-16 Total assetsStart of year $12,222,079$13,453,575
X-18 Grants payableStart of year $9,400$11,900
X-26 Total liabilitiesStart of year $24,788$11,900
X-27 Net assets without donor restrictions$15,389
X-28 Net assets with donor restrictionsStart of year $12,197,291$13,426,286
X-32 Total net assets or fund balancesStart of year $12,197,291$13,441,675
X-33 Total liabilities and net assetsStart of year $12,222,079$13,453,575
Part XI · Reconciliation of net assets $13,441,675 net assets at year end
XI-1 Total revenue$476,131
XI-2 Total expenses$713,429
XI-3 Revenue less expenses−$237,298
XI-4 Net assets at start of year$12,197,291
XI-5 Net unrealized gains (losses) on investments$1,466,293
XI-9 Other changes in net assets$15,389
XI-10 Net assets at end of year$13,441,675

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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