Whelan Family Scholarship Fund
Whelan Family Scholarship Fund operates with minimal revenue and expenses, relying on asset base for consistent scholarship disbursements.
EIN: 203207724 · Freeport, ME · NTEE: B82 · Updated: 2026-03-28
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Whelan Family Scholarship Fund is mapped to EIN 203207724.
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| Metric | Value |
|---|---|
| Total Revenue | $2K |
| Total Expenses | $3K |
| Program Spending | 90% |
| Net Assets | $71K |
| Transparency Score | 85/100 |
Search Intent Cockpit
Whelan Family Scholarship Fund Form 990, Revenue, CEO Pay, and IRS Filing Signals
Whelan Family Scholarship Fund is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Whelan Family Scholarship Fund in one place.
Form 990 Filing Summary
10 filing years are available, with latest revenue of $1K and expenses of $3K.
Revenue and Expenses
Whelan Family Scholarship Fund reported $1K in revenue and $3K in expenses, a deficit of $2K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
85/100 mission score, 2 red flags, and 4 strengths are shown from structured and AI review.
Is Whelan Family Scholarship Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $3K (90%) |
Across stored filings, Whelan Family Scholarship Fund shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 90% to programs | Excellent |
| Financial durability | Grade B | 10 stored filing years |
| Peer context | Compare with Maine Composite Materials Applied Technology Development Center | Maine and Education context |
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Whelan Family Scholarship Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Whelan Family Scholarship Fund
Whelan Family Scholarship Fund (EIN: 203207724) is a nonprofit organization based in Freeport, ME, classified under NTEE code B82. The organization reported total revenue of $2K and total assets of $68K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Whelan Family Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Whelan Family Scholarship Fund is a micro nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1K |
| Total Expenses | $3K |
| Surplus / Deficit | $-2,208 |
| Total Assets | $71K |
| Total Liabilities | $1 |
| Net Assets | $71K |
| Operating Margin | -214.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 263.9 months |
Financial Health Grade: B
In 2023, Whelan Family Scholarship Fund reported a deficit of $2K with expenses exceeding revenue, holds 263.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Whelan Family Scholarship Fund's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -98.2% | +205.8% | -3.0% |
| 2022 | +1896.4% | +110.1% | +290.8% |
| 2021 | +6238.6% | +0.8% | +13.9% |
| 2020 | -6.4% | -50.0% | -2.7% |
| 2019 | -91.1% | -33.3% | -20.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Whelan Family 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, Whelan Family 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all filings, indicating that its leadership is entirely volunteer-based and receives no salary from the fund, which is appropriate for an organization of this size and mission.
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 Whelan Family Scholarship Fund's IRS 990 filings:
- Inconsistent annual revenue, making financial planning potentially challenging.
- Frequent annual deficits where expenses exceed revenue, leading to reliance on asset drawdowns (e.g., 2023: Revenue $1,030, Expenses $3,238).
Strengths
The following positive indicators were identified for Whelan Family Scholarship Fund:
- 100% volunteer leadership with 0% officer compensation reported across all filings.
- Consistent 990 filings demonstrating transparency.
- Maintains a stable asset base ($67,646 latest) relative to its operational size, ensuring continuity of its mission.
- Low administrative overhead, with most expenses likely directed to program services.
Frequently Asked Questions about Whelan Family Scholarship Fund
Is Whelan Family Scholarship Fund a legitimate charity?
Whelan Family Scholarship Fund (EIN: 203207724) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $2K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Whelan Family Scholarship Fund spend its money?
Whelan Family Scholarship Fund directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Whelan Family Scholarship Fund tax-deductible?
Whelan Family Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 203207724). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Whelan Family Scholarship Fund compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Whelan Family 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 Whelan Family Scholarship Fund located?
Whelan Family Scholarship Fund is headquartered in Freeport, Maine and files with the IRS under EIN 203207724. It is classified under NTEE code B82.
How many years of IRS 990 filings does Whelan Family Scholarship Fund have?
Whelan Family Scholarship Fund has 10 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 $2K in total revenue.
Is Whelan Family Scholarship Fund a good charity?
Based on the available data, the Whelan Family Scholarship Fund appears to be a well-intentioned and efficient small charity. It consistently reports 0% officer compensation, indicating a volunteer-run operation, and its expenses are primarily directed towards its program (scholarships). While revenue fluctuates, it maintains a healthy asset base to support its mission.
How does the organization fund its scholarships given fluctuating revenue?
The organization appears to fund its scholarships by drawing from its accumulated assets. For example, in 2023, revenue was $1,030 while expenses were $3,238, indicating that the difference was covered by its asset base, which decreased from $73,404 in 2022 to $71,196 in 2023.
What is the typical annual spending on scholarships?
While specific program spending isn't detailed, the total expenses are generally low, often around $1,000-$1,500 annually in most years, with a peak of $3,238 in 2023. Given the NTEE code (B82 - Scholarship & Student Aid) and zero officer compensation, it's highly probable that the vast majority of these expenses are direct scholarship disbursements.
Filing History
IRS 990 filing history for Whelan Family Scholarship Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Whelan Family Scholarship Fund's revenue has grown by 63.5%, moving from $630 to $1K. Total assets increased by 259.9% over the same period, from $20K to $71K. Total functional expenses rose by 218.7%, from $1K to $3K. In its most recent filing year (2023), Whelan Family Scholarship Fund reported a deficit of $2K, with expenses exceeding revenue. The organization holds $1 in liabilities against $71K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $71K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1K | $3K | $71K | $1 | — | — |
| 2022 | $56K | $1K | $73K | $1 | — | View 990 |
| 2021 | $3K | $504 | $19K | $1 | — | View 990 |
| 2020 | $44 | $500 | $16K | $1 | — | — |
| 2019 | $47 | $1K | $17K | $0 | — | View 990 |
| 2015 | $526 | $2K | $21K | $0 | — | View 990 |
| 2014 | $1K | $1K | $22K | $0 | — | View 990 |
| 2013 | $3K | $1K | $22K | $0 | — | View 990 |
| 2012 | $1K | $1K | $20K | $0 | — | View 990 |
| 2011 | $630 | $1K | $20K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1K, expenses of $3K, and assets of $71K (revenue -98.2% year-over-year).
- 2022: Revenue of $56K, expenses of $1K, and assets of $73K (revenue +1896.4% year-over-year).
- 2021: Revenue of $3K, expenses of $504, and assets of $19K (revenue +6238.6% year-over-year).
- 2020: Revenue of $44, expenses of $500, and assets of $16K (revenue -6.4% year-over-year).
- 2019: Revenue of $47, expenses of $1K, and assets of $17K (revenue -91.1% year-over-year).
- 2015: Revenue of $526, expenses of $2K, and assets of $21K (revenue -62.5% year-over-year).
- 2014: Revenue of $1K, expenses of $1K, and assets of $22K (revenue -49.5% year-over-year).
- 2013: Revenue of $3K, expenses of $1K, and assets of $22K (revenue +109.6% year-over-year).
- 2012: Revenue of $1K, expenses of $1K, and assets of $20K (revenue +110.2% year-over-year).
- 2011: Revenue of $630, expenses of $1K, and assets of $20K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Whelan Family Scholarship Fund:
Data Sources and Methodology
This transparency report for Whelan Family 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.