Wellesley Scholarship Foundation Inc

Nonprofit profile at a glance

EIN
042392419
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Wellesley, MA, USA
Phone
7812375536
Rating
89
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$338,694
Expenses
$437,073
Assets
$9,176,027
Liabilities
$416,290

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

Leadership & pay

20 people listed

Executive titles in this filing

  • LISA COLLINS (PRESIDENT)

People named in this filing

  • LISA COLLINS (PRESIDENT)
  • NIKI BRINKMAN-OFENLOCH (TREASURER)
  • MASON SMITH (SECRETARY)

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 provide need-based and merit scholarships to residents of wellesley and need-based scholarships to non-residents who graduated from wellelsey high school.

Operating model

Revenue model
Donor-supported. 65% 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

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 45
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.5%; rating input score 93
  • Fundraising efficiency: $53.45 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -29%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 20.99; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: -6.3% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.5% of spending went to programs
  • Governance: 25 of 25 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $409K in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.