The Friends of Jay Dion Memorial Scholarship Fund Inc

Nonprofit profile at a glance

EIN
841768636
IRS 990-EZ coverage
2019–2022
Forms available
Form 990-EZ 2022, Form 990-N 2020
Location
Northborough, MA, USA
Phone
6179518606
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$9,742
Expenses
$5,467
Assets
$54,252
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • GAYLE DION (PRESIDENT)

People named in this filing

  • KERRY DION (CLERK)
  • JOE VENIE (DIRECTOR)
  • GAYLE DION (PRESIDENT)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The friends of jay dion memorial scholarship fund, inc. (the "fund") was created to award scholarships to students pursuing post-secondary education and graduating from algonquin high school, a public regional high school in northborough, Massachusetts. The fund was formed in honor of jay dion, a longtime resident of northborough. To honor jay's memory, the fund will operate a scholarship program. The fund initially intends to award two scholarships of $2,500 on an annual basis.

What it reported doing in 2022

Scholarships awarded to students pursuing post-secondary education and graduating from algonquin high school, a public regional high school in northborough, Massachusetts.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 82
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.9%; rating input score 54
  • Program expense ratio: 96%; rating input score 96

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 43.9%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 9.92; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 23.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: -40.8% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 53.9% of revenue deployed · 96% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2019 to 2022
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.