Washington Scholarship Fund Inc

Nonprofit profile at a glance

EIN
462433377
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
Washington Depot, CT, USA
Phone
8608686870
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$246,884
Expenses
$233,949
Assets
$1,559,188
Liabilities
$0

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

Leadership & pay

14 people listed

Executive titles in this filing

  • STEVEN T CORNELL (PRESIDENT)
  • CHRISTINA CORNELL RUEL (VICE PRESIDENT)

People named in this filing

  • STEVEN T CORNELL (PRESIDENT)
  • CHRISTINA CORNELL RUEL (VICE PRESIDENT)
  • ANTHONY AMATO (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization mission is to award scholarships to seniors and graduates from shepaug valley high school and other secondary schools who have been residents of Washington, Washington depot, marbledale and new preston for their college educations.

What it reported doing in 2025

The program provided educational scholarships to thirty-six individuals.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 58
  • Accountability: 70
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.7%; rating input score 93
  • Program expense ratio: 80.8%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 20th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: 5.2%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 6.66; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 92.7% of revenue deployed · 80.8% of spending went to programs
  • Governance: 18 of 18 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $189K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 13 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.