Michael E Mccarthy Scholarship Fund
Michael E McCarthy Scholarship Fund shows consistent asset growth and no officer compensation, but recent filing indicates zero revenue and assets.
EIN: 201817405 · Middletown, RI · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $19K |
| Program Spending | 90% |
| Net Assets | $359K |
| Transparency Score | 85/100 |
Is Michael E Mccarthy Scholarship Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Michael E Mccarthy Scholarship Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Michael E Mccarthy Scholarship Fund
Michael E Mccarthy Scholarship Fund (EIN: 201817405) is a nonprofit organization based in Middletown, RI, classified under NTEE code B82. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Michael E Mccarthy Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Michael E Mccarthy Scholarship Fund is a micro nonprofit that has been operating for 20 years, with 9 years of IRS 990 filings on record (2011–2020). Revenue has grown at a compound annual rate of -3.1%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $16K |
| Total Expenses | $19K |
| Surplus / Deficit | $-3,045 |
| Total Assets | $359K |
| Net Assets | $359K |
| Operating Margin | -18.8% |
| Months of Reserves | 224.4 months |
Financial Health Grade: B
In 2020, Michael E Mccarthy Scholarship Fund reported a deficit of $3K with expenses exceeding revenue, holds 224.4 months of operating reserves (strong position).
Financial Trends
Over 9 years of filings (2011–2020), Michael E Mccarthy Scholarship Fund's revenue has declined at a compound annual growth rate (CAGR) of -3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -109.3% | +11.9% | -7.4% |
| 2017 | +10.6% | -8.0% | +2.7% |
| 2016 | +103.0% | +96.3% | +1.3% |
| 2015 | -46.2% | -32.1% | +0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Michael E Mccarthy Scholarship Fund with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Michael E Mccarthy Scholarship Fund allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly favorable for a scholarship fund.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Michael E Mccarthy Scholarship Fund's IRS 990 filings:
- Latest filing shows $0 revenue and $0 assets, raising questions about current operational status.
Strengths
The following positive indicators were identified for Michael E Mccarthy Scholarship Fund:
- Consistent asset growth over multiple years (e.g., $201,001 in 2011 to $359,363 in 2020).
- 0% officer compensation reported across all filings, indicating efficient use of funds.
- Zero liabilities reported in all periods, demonstrating strong financial solvency.
- Clear focus on program services as a scholarship fund.
Frequently Asked Questions about Michael E Mccarthy Scholarship Fund
Is Michael E Mccarthy Scholarship Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Michael E Mccarthy Scholarship Fund (EIN: 201817405) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Michael E Mccarthy Scholarship Fund spend its money?
Michael E Mccarthy Scholarship Fund directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Michael E Mccarthy Scholarship Fund tax-deductible?
Michael E Mccarthy Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 201817405). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Michael E Mccarthy Scholarship Fund compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Michael E Mccarthy Scholarship Fund is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Michael E Mccarthy Scholarship Fund located?
Michael E Mccarthy Scholarship Fund is headquartered in Middletown, Rhode Island and files with the IRS under EIN 201817405. It is classified under NTEE code B82.
How many years of IRS 990 filings does Michael E Mccarthy Scholarship Fund have?
Michael E Mccarthy Scholarship Fund has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Is the Michael E McCarthy Scholarship Fund still active given the latest $0 revenue and assets?
The latest filing for the period 202012 shows $0 revenue and $0 assets, which is a significant change from previous years where assets were consistently over $300,000. This could indicate the fund has ceased operations, merged, or is undergoing a transition. Further investigation into their most recent activities or official status would be necessary.
How does the fund manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the fund is likely run by volunteers, or that any administrative costs are minimal and covered by non-compensated individuals, allowing more funds to be directed towards scholarships.
What caused the negative revenue of $-2,816 in 2018?
A negative revenue figure, such as the $-2,816 reported in 2018, often indicates a net loss from investments or a return of contributions. Without more detailed financial statements, the exact cause cannot be determined, but it's not uncommon for investment-dependent organizations to experience fluctuations.
Filing History
IRS 990 filing history for Michael E Mccarthy Scholarship Fund showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2020), Michael E Mccarthy Scholarship Fund's revenue has declined by 25%, moving from $22K to $16K. Total assets increased by 78.8% over the same period, from $201K to $359K. Total functional expenses rose by 142.7%, from $8K to $19K. In its most recent filing year (2020), Michael E Mccarthy Scholarship Fund reported a deficit of $3K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $16K | $19K | $359K | $0 | — | — |
| 2018 | $-2,816 | $24K | $329K | $0 | — | View 990 |
| 2017 | $30K | $21K | $355K | $0 | — | View 990 |
| 2016 | $28K | $23K | $346K | $0 | — | View 990 |
| 2015 | $14K | $12K | $341K | $0 | — | View 990 |
| 2014 | $25K | $17K | $339K | $0 | — | View 990 |
| 2013 | $67K | $11K | $332K | $0 | — | View 990 |
| 2012 | $77K | $8K | $270K | $0 | — | View 990 |
| 2011 | $22K | $8K | $201K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $16K, expenses of $19K, and assets of $359K.
- 2018: Revenue of $-2,816, expenses of $24K, and assets of $329K (revenue -109.3% year-over-year).
- 2017: Revenue of $30K, expenses of $21K, and assets of $355K (revenue +10.6% year-over-year).
- 2016: Revenue of $28K, expenses of $23K, and assets of $346K (revenue +103.0% year-over-year).
- 2015: Revenue of $14K, expenses of $12K, and assets of $341K (revenue -46.2% year-over-year).
- 2014: Revenue of $25K, expenses of $17K, and assets of $339K (revenue -62.6% year-over-year).
- 2013: Revenue of $67K, expenses of $11K, and assets of $332K (revenue -13.2% year-over-year).
- 2012: Revenue of $77K, expenses of $8K, and assets of $270K (revenue +259.3% year-over-year).
- 2011: Revenue of $22K, expenses of $8K, and assets of $201K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Michael E Mccarthy Scholarship Fund:
Data Sources and Methodology
This transparency report for Michael E Mccarthy Scholarship Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.