Thomas P Quinn Scholarship Fund
Small Scholarship Fund with Declining Assets and No Program Spending
EIN: 223003812 · Providence, RI · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Expenses | $14K |
| Net Assets | $241K |
| Transparency Score | 20/100 |
Is Thomas P Quinn Scholarship Fund Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Thomas P Quinn Scholarship Fund
Thomas P Quinn Scholarship Fund (EIN: 223003812) is a nonprofit organization based in Providence, RI. 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 Thomas P Quinn Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Thomas P Quinn Scholarship Fund is a micro nonprofit, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of -22.4%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $465 |
| Total Expenses | $14K |
| Surplus / Deficit | $-13,240 |
| Total Assets | $241K |
| Total Liabilities | $1 |
| Net Assets | $241K |
| Operating Margin | -2847.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 211.3 months |
Financial Health Grade: B
In 2015, Thomas P Quinn Scholarship Fund reported a deficit of $13K with expenses exceeding revenue, holds 211.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 5 years of filings (2011–2015), Thomas P Quinn Scholarship Fund's revenue has declined at a compound annual growth rate (CAGR) of -22.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | -8.5% | -20.9% | -5.2% |
| 2014 | -19.6% | +11.5% | -6.2% |
| 2013 | -21.5% | -1.9% | -5.2% |
| 2012 | -37.3% | +13.6% | -5.0% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Thomas P Quinn Scholarship Fund with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Thomas P Quinn Scholarship Fund allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $13K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no compensation is reported in the available filings.
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 Thomas P Quinn Scholarship Fund's IRS 990 filings:
- Zero program spending reported across all available years (2011-2015), despite being a 'Scholarship Fund'.
- Total assets have consistently declined from $301,266 in 2011 to $241,291 in 2015.
- The organization's purpose as a scholarship fund is not reflected in its financial expenditures.
Strengths
The following positive indicators were identified for Thomas P Quinn Scholarship Fund:
- Low administrative expenses relative to assets, ranging from $13,705 to $17,317 annually.
Frequently Asked Questions about Thomas P Quinn Scholarship Fund
Is Thomas P Quinn Scholarship Fund a legitimate charity?
Thomas P Quinn Scholarship Fund (EIN: 223003812) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 20/100. It has 5 years of IRS 990 filings on record. 3 red flags identified. 1 strength noted. Financial health grade: B.
How does Thomas P Quinn Scholarship Fund spend its money?
Thomas P Quinn Scholarship Fund reported its financials in IRS 990 filings. 5 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Thomas P Quinn Scholarship Fund tax-deductible?
Thomas P Quinn Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 223003812). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Thomas P Quinn Scholarship Fund located?
Thomas P Quinn Scholarship Fund is headquartered in Providence, Rhode Island and files with the IRS under EIN 223003812.
How many years of IRS 990 filings does Thomas P Quinn Scholarship Fund have?
Thomas P Quinn Scholarship Fund has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
What does Thomas P Quinn Scholarship Fund do?
Thomas P Quinn Scholarship Fund is a nonprofit organization in the Unknown sector, located in Providence, Rhode Island. It is classified under NTEE code Unknown.
How much revenue does Thomas P Quinn Scholarship Fund have?
Thomas P Quinn Scholarship Fund reported total revenue of N/A. Based on 5 IRS 990 filings on record.
What are Thomas P Quinn Scholarship Fund's total assets?
Thomas P Quinn Scholarship Fund holds total assets of N/A as reported in IRS 990 filings.
Where is Thomas P Quinn Scholarship Fund located?
Thomas P Quinn Scholarship Fund is based in Providence, Rhode Island.
What is Thomas P Quinn Scholarship Fund's EIN?
Thomas P Quinn Scholarship Fund's Employer Identification Number (EIN) is 223003812. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Thomas P Quinn Scholarship Fund?
Thomas P Quinn Scholarship Fund is classified under NTEE code Unknown (Unknown).
Is Thomas P Quinn Scholarship Fund a registered 501(c)(3)?
Thomas P Quinn Scholarship Fund appears in IRS records (EIN: 223003812). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Thomas P Quinn Scholarship Fund file IRS Form 990?
Yes, Thomas P Quinn Scholarship Fund has 5 IRS Form 990 filings on record. The most recent covers tax period 201512.
What was Thomas P Quinn Scholarship Fund's revenue in 2015?
In the 201512 filing period, Thomas P Quinn Scholarship Fund reported total revenue of $465, total expenses of $13,705, and net assets of $241,291.
Is Thomas P Quinn Scholarship Fund's revenue growing or declining?
Thomas P Quinn Scholarship Fund's revenue is declining. Revenue went from $508 (201412) to $465 (201512), a -8.5% change. Based on 5 filings on record.
What is Thomas P Quinn Scholarship Fund's most recent 990 filing?
The most recent IRS Form 990 filing for Thomas P Quinn Scholarship Fund covers tax period 201512. It shows revenue of $465, expenses of $13,705, total assets of $241,291, and liabilities of $1.
Is Thomas P Quinn Scholarship Fund a trustworthy charity?
Based on AI analysis of IRS 990 data, Thomas P Quinn Scholarship Fund has notable concerns. Mission Score: 20/100 (Poor). 3 red flags identified. 1 strength noted.
What are the red flags for Thomas P Quinn Scholarship Fund?
The following concerns were identified: Zero program spending reported across all available years (2011-2015), despite being a 'Scholarship Fund'.. Total assets have consistently declined from $301,266 in 2011 to $241,291 in 2015.. The organization's purpose as a scholarship fund is not reflected in its financial expenditures.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Thomas P Quinn Scholarship Fund's strengths?
Positive indicators for Thomas P Quinn Scholarship Fund include: Low administrative expenses relative to assets, ranging from $13,705 to $17,317 annually.. These findings are derived from AI analysis of the organization's financial filings.
How does Thomas P Quinn Scholarship Fund compensate executives?
Executive compensation cannot be assessed as no compensation is reported in the available filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the organization's name, 'Thomas P Quinn Scholarship Fund,' and the complete absence of program service expenses, how are the scholarships being funded or distributed?
The available financial data (Form 990-EZ, Part III, Line 28) consistently reports $0 for program service expenses. This suggests that either the scholarships are not being paid out directly by this entity, or the financial reporting is incomplete regarding its primary mission.
Filing History
IRS 990 filing history for Thomas P Quinn Scholarship Fund showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), Thomas P Quinn Scholarship Fund's revenue has declined by 63.8%, moving from $1K to $465. Total assets decreased by 19.9% over the same period, from $301K to $241K. Total functional expenses fell by 1.7%, from $14K to $14K. In its most recent filing year (2015), Thomas P Quinn Scholarship Fund reported a deficit of $13K, with expenses exceeding revenue. The organization holds $1 in liabilities against $241K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $241K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $465 | $14K | $241K | $1 | — | View 990 |
| 2014 | $508 | $17K | $255K | $1 | — | View 990 |
| 2013 | $632 | $16K | $271K | $0 | — | View 990 |
| 2012 | $805 | $16K | $286K | $0 | — | View 990 |
| 2011 | $1K | $14K | $301K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $465, expenses of $14K, and assets of $241K (revenue -8.5% year-over-year).
- 2014: Revenue of $508, expenses of $17K, and assets of $255K (revenue -19.6% year-over-year).
- 2013: Revenue of $632, expenses of $16K, and assets of $271K (revenue -21.5% year-over-year).
- 2012: Revenue of $805, expenses of $16K, and assets of $286K (revenue -37.3% year-over-year).
- 2011: Revenue of $1K, expenses of $14K, and assets of $301K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Thomas P Quinn Scholarship Fund:
Data Sources and Methodology
This transparency report for Thomas P Quinn 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.