Tri-County Scholarship Fund

Tax-deductible

Mendham, NJ501(c)(3)Since 1981EducationEIN 22-2354475Revenue $8.0M in FY2025

On file with the IRStcsfund.org14 West Main Street, 07945-1260 · Mendham, NJTax-exempt since Oct 1983Publicly supported charity — 170(b)(1)(A)(vi)

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Tri-County Scholarship Fund provides k-12 scholarships to deserving and financially disadvantaged children in northern new jersey so they can obtain a high quality, values-based education at accredited private elementary and secondary schools that will enable them to achieve their full potential.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 90 volunteers and 6 employees.
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
6 of 6
filings with a surplus
Average surplus $1.2M a year · 25% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$595K
to officers and key staff · 12% of spending
Top officer’s pay higher than 96% of similar orgs
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
55
of 55 voting members
Looks good: 55 of 55 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.0M
+54% vs prior year
Spent
$4.8M
To programs
82%
Net assets
$13.4M
By yearFY2020–FY2025
Revenue
$8.0M
FY2025▲ +54%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.9M
FY2021$4.2M
FY2022$4.5M
FY2023$3.9M
FY2024$5.2M
FY2025$8.0M
Expenses
$4.8M
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$3.0M
FY2022$3.3M
FY2023$3.6M
FY2024$4.6M
FY2025$4.8M
Net assets
$13.4M
FY2025▲ +40%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.3M
FY2021$7.6M
FY2022$7.9M
FY2023$8.8M
FY2024$9.6M
FY2025$13.4M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1983.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $3.9M Management & general 8% · $385K Fundraising 9% · $454K

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

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Who runs it and what they're paid

58 people listed on the 990; $595K paid to officers and key staff.

Part VII, Section A · reportable compensation
President, Ex-Officio
$308,462Pt VII · Sec A
Office Manager
$162,525Pt VII · Sec A
Major Gifts Officer
$124,038Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Prudence a Pigott’s $308K as President, Ex-Officio is at the 96th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Prudence a Pigott$308,462$250,000$235,000$225,000$200,000$160,000
Mike Mund$162,525$157,447$138,993———
Annemarie Hochkeppel$124,038—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides scholarships for K-12 students to attend quality private schools.

Questions for Tri-County Scholarship Fund

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Provided by the organization

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1 program · $3.9M · in their own filed words · FY2025
01

Since 1981, the mission of tri-county scholarship fund has been to provide financial support to deserving and economically disadvantaged children in grades kindergarten through 12, for them to attend accredited private schools. Partial scholarships are awarded annually to hundreds of students.

$3.9Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$1K
Grants paid · 6 grants · $15.9M · 2020–2025
Unitemized GrantFY2025$3,200,318
Unitemized GrantFY2024$3,213,878
Unitemized GrantFY2023$2,680,117
Unitemized GrantFY2022$2,453,500
Unitemized GrantFY2021$2,212,200
Unitemized GrantFY2020$2,099,085

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$8.0M
Ln 12
Gifts and grantsLn 1h$7.6M
Investment incomeLn 3$602K
Money outPt IX
$4.8M
Ln 25
Programscol B$3.9M
Managementcol C$385K
Fundraisingcol D$454K
Owns and owesPt X
$13.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$15.1M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
58
listed · VII A
PaidVII A3
Voting boardVI 1a55
IndependentVI 1b55
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.6M
Noncash giftsLn 1g$48K
Fundraising eventsLn 1c$2.3M
Investment incomeLn 3$602K
Gains on assetsLn 7$234K
Total revenueLn 12$8.0M
Assets in detailPt X, end of year
SavingsLn 2$3.0M
Cash and savings togetherLn 1–2$3.0M
InvestmentsLn 11–13$9.4M
Land, buildings, equipmentLn 10c$647K
Total assetsLn 16$15.1M
LiabilitiesLn 26$1.7M
Net assetsLn 32$13.4M
OperationsPt I, VI
EmployeesI 56
VolunteersI 690
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 FY25End FY25
Cash and savingsLn 1–2$2.2M$3.0M
InvestmentsLn 11–13$8.0M$9.4M
Land, buildings, equipmentLn 10c$645K$647K
Total assetsLn 16$11.2M$15.1M
LiabilitiesLn 26$1.6M$1.7M
Net assetsLn 32$9.6M$13.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.2M$3.2M
Pay of current officers, directors and key staffLn 5$334K$274K$43K$17K
Other salaries and wagesLn 7$397K$326K$52K$20K
Pension plan contributionsLn 8$57K$47K$7K$3K
Other employee benefitsLn 9$47K$39K$6K$2K
Payroll taxesLn 10$36K$30K$5K$2K
Accounting feesLn 11c$38K$38K
Investment management feesLn 11f$79K$79K
Other fees for servicesLn 11g$354K$354K
Office expensesLn 13$37K$18K$19K
Information technologyLn 14$31K$31K
OccupancyLn 16$5K$5K
TravelLn 17$5K$5K
Conferences, conventions and meetingsLn 19$700$700
Depreciation, depletion and amortizationLn 22$9K$9K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$131K$28K$68K$35K
All other expensesLn 24e$6K$4K$2K
Total functional expensesLn 25$4.8M$3.9M$385K$454K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $8.0M$4.8M$3.2M$13.4M 990 PDF
FY2024 $5.2M$4.6M$606K$9.6M 990 PDF
FY2023 $3.9M$3.6M$299K$8.8M 990 PDF
FY2022 $4.5M$3.3M$1.2M$7.9M 990 PDF
FY2021 $4.2M$3.0M$1.1M$7.6M 990 PDF
FY2020 $3.9M$2.8M$1.1M$6.3M 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 FY2025 990 (6 parts)
Part I · Summary $7,968,215 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,718,921$7,566,460
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $631,305$602,073
I-11 Other revenuePrior year −$186,046−$200,318
I-12 Total revenuePrior year $5,164,180$7,968,215
I-13 Grants and similar amounts paidPrior year $3,213,878$3,200,318
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $850,785$871,599
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $493,289$710,544
I-18 Total expensesPrior year $4,557,952$4,782,461
I-19 Revenue less expensesPrior year $606,228$3,185,754
Part VI · Governance 55 of 55 board members independent, 1 to look at
VI-1a Voting members of the governing body55
VI-1b Independent voting members55
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,968,215 across 9 lines filed
Lines not itemized here account for $12,360 of total revenue; see the IRS return.
VIII-1c Fundraising events$2,314,822
VIII-1f All other contributions, gifts and grants$5,251,638
VIII-1g Noncash contributions (included above)$47,897
VIII-1h Total contributions, gifts and grants$7,566,460
VIII-3 Investment incomeExcluded from tax $367,732$367,732
VIII-6 Net rental income or lossExcluded from tax $25,500$25,500
VIII-7 Net gain or loss on sales of assetsExcluded from tax $234,341$234,341
VIII-8 Net income from fundraising eventsExcluded from tax −$238,178−$238,178
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $401,755$7,968,215
Part IX · Statement of functional expenses $4,782,461 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $3,200,318$3,200,318
IX-5 Pay of current officers, directors and key staffPrograms $273,815 · Management $43,410 · Fundraising $16,696$333,921
IX-7 Other salaries and wagesPrograms $325,583 · Management $51,617 · Fundraising $19,853$397,053
IX-8 Pension plan contributionsPrograms $46,737 · Management $7,409 · Fundraising $2,850$56,996
IX-9 Other employee benefitsPrograms $38,658 · Management $6,129 · Fundraising $2,357$47,144
IX-10 Payroll taxesPrograms $29,918 · Management $4,743 · Fundraising $1,824$36,485
IX-11c Accounting feesManagement $37,649$37,649
IX-11f Investment management feesManagement $78,835$78,835
IX-11g Other fees for servicesFundraising $353,669$353,669
IX-13 Office expensesManagement $17,501 · Fundraising $19,026$36,527
IX-14 Information technologyManagement $30,891$30,891
IX-16 OccupancyManagement $5,142$5,142
IX-17 TravelManagement $4,854$4,854
IX-19 Conferences, conventions and meetingsFundraising $700$700
IX-22 Depreciation, depletion and amortizationManagement $9,063$9,063
IX-23 InsuranceManagement $15,873$15,873
IX-24 Other expenses (24a–d)Programs $28,199 · Management $68,074 · Fundraising $35,219$131,492
IX-24e All other expensesManagement $4,132 · Fundraising $1,717$5,849
IX-25 Total functional expensesPrograms $3,943,228 · Management $385,322 · Fundraising $453,911$4,782,461
Part X · Balance sheet $15,098,870 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,205,926$2,994,014
X-3 Pledges and grants receivableStart of year $270,324$1,996,170
X-9 Prepaid expenses and deferred chargesStart of year $31,099$51,424
X-10c Land, buildings and equipment, netStart of year $644,986$646,918
X-11 Publicly traded securitiesStart of year $8,012,225$9,410,344
X-16 Total assetsStart of year $11,164,560$15,098,870
X-17 Accounts payable and accrued expensesStart of year $126,824$163,294
X-18 Grants payableStart of year $1,478,350$1,580,008
X-25 Other liabilitiesStart of year $3,151$3,151
X-26 Total liabilitiesStart of year $1,608,325$1,746,453
X-27 Net assets without donor restrictionsStart of year $6,318,279$7,849,479
X-28 Net assets with donor restrictionsStart of year $3,237,956$5,502,938
X-32 Total net assets or fund balancesStart of year $9,556,235$13,352,417
X-33 Total liabilities and net assetsStart of year $11,164,560$15,098,870
Part XI · Reconciliation of net assets $13,352,417 net assets at year end
XI-1 Total revenue$7,968,215
XI-2 Total expenses$4,782,461
XI-3 Revenue less expenses$3,185,754
XI-4 Net assets at start of year$9,556,235
XI-5 Net unrealized gains (losses) on investments$610,460
XI-9 Other changes in net assets−$32
XI-10 Net assets at end of year$13,352,417

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

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