Westfield Scholarship Charitable Tr: Nonprofit Profile, Financials & Form 990 (EIN 58-6394018)

Revenue by fiscal year
FY2020	$11K
FY2021	$47K
FY2022	$68K
FY2023	−$2K
FY2024	$39K

Expenses by fiscal year
FY2020	$51K
FY2021	$52K
FY2022	$53K
FY2023	$44K
FY2024	$47K

Net assets by fiscal year
FY2020	$664K
FY2021	$720K
FY2022	$577K
FY2023	$606K
FY2024	$649K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1999.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

13%

Program services 87% · $40K Management & general 13% · $6K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation

William Carroll

Trustee

$0Pt VII · Sec A

John W Hulbert

Trustee

$0Pt VII · Sec A

Sheldon Shelton

Trustee

$0Pt VII · Sec A

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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 to students attending Westfield School.

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Provided by the organization

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1 program · $40K · in their own filed words · FY2024

01

Scholarships were provided to students based on financial need and school support.

$40Kprogram 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 · 5 grants · $213K · 2020–2024

Unitemized GrantFY2024$40,500

Unitemized GrantFY2023$37,646

Unitemized GrantFY2022$46,423

Unitemized GrantFY2021$44,150

Unitemized GrantFY2020$44,412

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$39K

Ln 12

Investment incomeLn 3$38K

Other incomeLn 4–11$544

Money outPt IX

$47K

Ln 25

Programscol B$40K

Managementcol C$6K

Owns and owesPt X

$649K

net assets · Ln 32

Cash and savingsLn 1–2$42K

Total assetsLn 16$695K

LiabilitiesLn 26$46K

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$38K

Other incomeLn 4–11$544

Gains on assetsLn 7$20K

Total revenueLn 12$39K

Assets in detailPt X, end of year

SavingsLn 2$42K

Cash and savings togetherLn 1–2$42K

InvestmentsLn 11–13$653K

Total assetsLn 16$695K

LiabilitiesLn 26$46K

Net assetsLn 32$649K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$37K	$42K
InvestmentsLn 11–13	$606K	$653K
Total assetsLn 16	$643K	$695K
LiabilitiesLn 26	$38K	$46K
Net assetsLn 32	$606K	$649K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$40K	$40K
Investment management feesLn 11f	$6K		$6K
Other expenses (24a–d)Ln 24	$134		$134
Total functional expensesLn 25	$47K	$40K	$6K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$39K	$47K	−$8K	$649K	990 PDF
FY2023	−$2K	$44K	−$46K	$606K	990 PDF
FY2022	$68K	$53K	$15K	$577K	990 PDF
FY2021	$47K	$52K	−$5K	$720K	990 PDF
FY2020	$11K	$51K	−$40K	$664K	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 FY2024 990 (6 parts)

Part I · Summary $39,024 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $500$0

I-9 Program service revenue$0

I-10 Investment incomePrior year −$2,839$38,480

I-11 Other revenuePrior year $419$544

I-12 Total revenuePrior year −$1,920$39,024

I-13 Grants and similar amounts paidPrior year $37,646$40,500

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $6,499$6,130

I-18 Total expensesPrior year $44,145$46,630

I-19 Revenue less expensesPrior year −$46,065−$7,606

Part VI · Governance 2 of 3 board members independent, 4 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members2

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $39,024 across 4 lines filed

VIII-3 Investment incomeRelated to mission $18,497$18,497

VIII-7 Net gain or loss on sales of assetsRelated to mission $19,983$19,983

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $544$544

VIII-12 Total revenueRelated to mission $39,024$39,024

Part IX · Statement of functional expenses $46,630 across 3 lines filed

IX-2 Grants to domestic individualsPrograms $40,500$40,500

IX-11f Investment management feesManagement $5,996$5,996

IX-24 Other expenses (24a–d)Management $134$134

IX-25 Total functional expensesPrograms $40,500 · Management $6,130 · Fundraising $0$46,630

Part X · Balance sheet $695,120 assets, 8 lines filed

X-2 Savings and temporary cash investmentsStart of year $36,996$42,161

X-11 Publicly traded securitiesStart of year $606,449$652,959

X-16 Total assetsStart of year $643,445$695,120

X-17 Accounts payable and accrued expensesStart of year $37,669$46,500

X-26 Total liabilitiesStart of year $37,669$46,500

X-28 Net assets with donor restrictionsStart of year $605,776$648,620

X-32 Total net assets or fund balancesStart of year $605,776$648,620

X-33 Total liabilities and net assetsStart of year $643,445$695,120

Part XI · Reconciliation of net assets $648,620 net assets at year end

XI-1 Total revenue$39,024

XI-2 Total expenses$46,630

XI-3 Revenue less expenses−$7,606

XI-4 Net assets at start of year$605,776

XI-5 Net unrealized gains (losses) on investments$50,450

XI-10 Net assets at end of year$648,620

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Westfield Scholarship Charitable Tr

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Westfield Scholarship Charitable Tr

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV