The Scholarship Foundation of Wakefield Inc

Nonprofit profile at a glance

EIN
042444195
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Wakefield, MA, USA
Phone
7812454890
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$2,895,076
Expenses
$1,149,682
Assets
$26,227,788
Liabilities
$10,400

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

32 people listed

Executive titles in this filing

  • THOMAS J WHITE (PRESIDENT)

People named in this filing

  • RICHARD BONDI (DIRECTOR)
  • JO-ANNE BOURQUE (DIRECTOR)
  • KELLEY CHAPMAN (DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

It is the mission of the scholarship foundation of wakefield (tsfw) to raise and administer funds for scholarships to institutions of higher learning for residents of the town of wakefield attending post secondary institutes full time.

What it reported doing in 2025

The fund assisted 273 students from the town of wakefield in achieving a post secondary education by providing scholarships totaling 820,200.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 93
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71%; rating input score 71
  • Program expense ratio: 71.3%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 75th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 60.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 22.81; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 12th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 71% of revenue deployed · 71.3% of spending went to programs
  • Governance: 32 of 32 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $820K in reported program spending
  • Leadership: top reported pay $0 · 32 people listed
  • Highest-paid contractors: 1 contractor listed · $154K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.