Tri County Scholarship Fund
Tri County Scholarship Fund: Strong Program Spending, but Transparency Lacking on Executive Pay
EIN: 222354475 · Mendham, NJ · NTEE: B82Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $6.5M |
| Total Expenses | $3.6M |
| Program Spending | 89% |
| Net Assets | $8.8M |
| Transparency Score | 85/100 |
Is Tri County Scholarship Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Tri County Scholarship Fund directs 89% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Tri County Scholarship Fund
Tri County Scholarship Fund (EIN: 222354475) is a nonprofit organization based in Mendham, NJ, classified under NTEE code B82Z. The organization reported total revenue of $6.5M and total assets of $11.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tri County Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tri County Scholarship Fund is a mid-size nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.9M |
| Total Expenses | $3.6M |
| Surplus / Deficit | +$299K |
| Total Assets | $10.3M |
| Total Liabilities | $1.5M |
| Net Assets | $8.8M |
| Operating Margin | 7.6% |
| Debt-to-Asset Ratio | 14.3% |
| Months of Reserves | 33.9 months |
Financial Health Grade: A
In 2023, Tri County Scholarship Fund reported a surplus of $299K with revenue exceeding expenses, holds 33.9 months of operating reserves (strong position), has a debt-to-asset ratio of 14.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Tri County Scholarship Fund's revenue has grown at a compound annual growth rate (CAGR) of 7.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.3% | +8.8% | +11.7% |
| 2022 | +8.7% | +9.8% | +5.0% |
| 2021 | +8.4% | +9.1% | +17.4% |
| 2020 | +16.0% | +21.5% | +28.0% |
| 2019 | +9.9% | +22.8% | +35.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Tri County 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: 5%
- programs: 89%
- fundraising: 6%
According to IRS 990 filings, Tri County Scholarship Fund allocates its expenses as follows: admin: 5%, programs: 89%, fundraising: 6%. With 89% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $299K, with revenue exceeding expenses.
- Debt-to-asset ratio: 14.3%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, making a precise assessment difficult; however, the 'c0%' in filings suggests no compensation for key employees, which warrants further investigation for clarity.
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 Tri County Scholarship Fund's IRS 990 filings:
- Lack of detailed executive compensation breakdown beyond 'c0%' in filings.
- Limited information on program specifics and impact metrics on their website.
Strengths
The following positive indicators were identified for Tri County Scholarship Fund:
- Consistently high percentage of expenses allocated to programs (89% in 2023).
- Healthy growth in assets over the past several years, indicating financial stability.
- Strong revenue generation, consistently exceeding expenses.
Frequently Asked Questions about Tri County Scholarship Fund
Is Tri County Scholarship Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Tri County Scholarship Fund (EIN: 222354475) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Tri County Scholarship Fund spend its money?
Tri County Scholarship Fund directs 89% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Tri County Scholarship Fund tax-deductible?
Tri County Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 222354475). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Tri County Scholarship Fund's spending goes to programs?
Tri County Scholarship Fund directs 89% to programs, 6% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Tri County Scholarship Fund compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Tri County Scholarship Fund is above average for NTEE category B82Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Tri County Scholarship Fund located?
Tri County Scholarship Fund is headquartered in Mendham, New Jersey and files with the IRS under EIN 222354475. It is classified under NTEE code B82Z.
How many years of IRS 990 filings does Tri County Scholarship Fund have?
Tri County Scholarship Fund has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.5M in total revenue.
What does Tri County Scholarship Fund do?
Tri County Scholarship Fund is a nonprofit organization in the Education sector, located in Mendham, New Jersey. It is classified under NTEE code B82Z.
How much revenue does Tri County Scholarship Fund have?
Tri County Scholarship Fund reported total revenue of $6,540,742. Based on 13 IRS 990 filings on record.
What are Tri County Scholarship Fund's total assets?
Tri County Scholarship Fund holds total assets of $11,164,560 as reported in IRS 990 filings.
Where is Tri County Scholarship Fund located?
Tri County Scholarship Fund is based in Mendham, New Jersey.
What is Tri County Scholarship Fund's EIN?
Tri County Scholarship Fund's Employer Identification Number (EIN) is 222354475. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Tri County Scholarship Fund?
Tri County Scholarship Fund is classified under NTEE code B82Z (Education).
Is Tri County Scholarship Fund a registered 501(c)(3)?
Yes, Tri County Scholarship Fund is recognized as a tax-exempt organization by the IRS. EIN: 222354475.
Does Tri County Scholarship Fund file IRS Form 990?
Yes, Tri County Scholarship Fund has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Tri County Scholarship Fund's revenue in 2023?
In the 202312 filing period, Tri County Scholarship Fund reported total revenue of $3,942,024, total expenses of $3,643,056, and net assets of $10,277,706.
Is Tri County Scholarship Fund's revenue growing or declining?
Tri County Scholarship Fund's revenue is declining. Revenue went from $4,548,687 (202212) to $3,942,024 (202312), a -13.3% change. Based on 13 filings on record.
What is Tri County Scholarship Fund's most recent 990 filing?
The most recent IRS Form 990 filing for Tri County Scholarship Fund covers tax period 202312. It shows revenue of $3,942,024, expenses of $3,643,056, total assets of $10,277,706, and liabilities of $1,474,423.
How much does Tri County Scholarship Fund spend on programs vs administration?
Based on IRS 990 analysis, Tri County Scholarship Fund allocates approximately 89% of expenses to program services, 5% to administrative costs, and 6% to fundraising. This indicates strong program focus.
Is Tri County Scholarship Fund a trustworthy charity?
Based on AI analysis of IRS 990 data, Tri County Scholarship Fund appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Tri County Scholarship Fund?
The following concerns were identified: Lack of detailed executive compensation breakdown beyond 'c0%' in filings.. Limited information on program specifics and impact metrics on their website.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Tri County Scholarship Fund's strengths?
Positive indicators for Tri County Scholarship Fund include: Consistently high percentage of expenses allocated to programs (89% in 2023).. Healthy growth in assets over the past several years, indicating financial stability.. Strong revenue generation, consistently exceeding expenses.. These findings are derived from AI analysis of the organization's financial filings.
How does Tri County Scholarship Fund compensate executives?
Executive compensation is not explicitly detailed in the provided data, making a precise assessment difficult; however, the 'c0%' in filings suggests no compensation for key employees, which warrants further investigation for clarity. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the 'c0%' for compensation in the filings, how does the organization attract and retain leadership, and what is the actual cost of executive oversight?
The 'c0%' for compensation in the filings suggests that key employees may be volunteers or compensated through other means not explicitly detailed as 'compensation' in this specific field. This raises questions about the true cost of executive oversight and the sustainability of leadership without direct compensation.
With a significant portion of spending on programs, what specific types of scholarships are offered, and what are the eligibility criteria and impact on recipients?
While the high program spending is positive, the provided data does not detail the specific types of scholarships, eligibility criteria, or the long-term impact on recipients. This information would be crucial for a comprehensive understanding of their programmatic effectiveness.
Filing History
IRS 990 filing history for Tri County Scholarship Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Tri County Scholarship Fund's revenue has grown by 127.2%, moving from $1.7M to $3.9M. Total assets increased by 309.8% over the same period, from $2.5M to $10.3M. Total functional expenses rose by 132.4%, from $1.6M to $3.6M. In its most recent filing year (2023), Tri County Scholarship Fund reported a surplus of $299K, with revenue exceeding expenses. The organization holds $1.5M in liabilities against $10.3M in assets (debt-to-asset ratio: 14.3%), resulting in net assets of $8.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.9M | $3.6M | $10.3M | $1.5M | — | View 990 |
| 2022 | $4.5M | $3.3M | $9.2M | $1.3M | — | View 990 |
| 2021 | $4.2M | $3.0M | $8.8M | $1.2M | — | View 990 |
| 2020 | $3.9M | $2.8M | $7.5M | $1.2M | — | — |
| 2019 | $3.3M | $2.3M | $5.8M | $830K | — | View 990 |
| 2018 | $3.0M | $1.9M | $4.3M | $706K | — | View 990 |
| 2017 | $2.1M | $1.5M | $3.2M | $538K | — | View 990 |
| 2016 | $1.8M | $1.8M | $2.7M | $579K | — | View 990 |
| 2015 | $1.6M | $1.5M | $2.5M | $533K | — | View 990 |
| 2014 | $1.5M | $1.5M | $2.6M | $501K | — | View 990 |
| 2013 | $1.5M | $1.6M | $2.6M | $615K | — | View 990 |
| 2012 | $1.6M | $1.6M | $2.5M | $637K | — | View 990 |
| 2011 | $1.7M | $1.6M | $2.5M | $587K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.9M, expenses of $3.6M, and assets of $10.3M (revenue -13.3% year-over-year).
- 2022: Revenue of $4.5M, expenses of $3.3M, and assets of $9.2M (revenue +8.7% year-over-year).
- 2021: Revenue of $4.2M, expenses of $3.0M, and assets of $8.8M (revenue +8.4% year-over-year).
- 2020: Revenue of $3.9M, expenses of $2.8M, and assets of $7.5M (revenue +16.0% year-over-year).
- 2019: Revenue of $3.3M, expenses of $2.3M, and assets of $5.8M (revenue +9.9% year-over-year).
- 2018: Revenue of $3.0M, expenses of $1.9M, and assets of $4.3M (revenue +44.3% year-over-year).
- 2017: Revenue of $2.1M, expenses of $1.5M, and assets of $3.2M (revenue +13.7% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.8M, and assets of $2.7M (revenue +18.9% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.5M, and assets of $2.5M (revenue +1.4% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.5M, and assets of $2.6M (revenue -0.6% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.6M, and assets of $2.6M (revenue -0.7% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.6M, and assets of $2.5M (revenue -10.6% year-over-year).
- 2011: Revenue of $1.7M, expenses of $1.6M, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tri County Scholarship Fund:
Data Sources and Methodology
This transparency report for Tri County 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.