Newtown Scholarship Association Inc

Nonprofit profile at a glance

EIN
066059483
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Newtown, CT, USA
Phone
2034268500
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$432,105
Expenses
$378,546
Assets
$1,760,000
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Cindy Carlson (President)
  • William Plunkett (Vice President)

People named in this filing

  • Cindy Carlson (President)
  • William Plunkett (Vice President)
  • Azian Kearney (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To award scholarships to students who are residents of the town of newtown, Connecticut at the time of high school graduation with continuing aid through college.

What it reported doing in 2024

Financial aid granted to newtown secondary school graduates who demonstrate financial need. Scholarships given to 147 individuals.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 94% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 71
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.6%; rating input score 96
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.4%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 4.65; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -3.7% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 5.3% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 95.6% of revenue deployed · 99.9% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $378K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.