MC Scholarship Foundation is a private foundation focused on Education, based in NEWPORT, RI. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $803K in total assets. In 2024, it awarded 8 grants totaling $45K. Net investment income was $76K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$803K
+4.5% YoY
Annual Giving
$45K
-29.7% YoY
Grant Count
8
+0.0% YoY
Avg Grant Size
$6K
-29.7% YoY
Under IRS private-foundation payout rules, MC Scholarship Foundation reported a distributable amount of $45K for 2024 — the minimum it must pay out in qualifying distributions.
About MC Scholarship Foundation
Based on IRS filings
MC Scholarship Foundation is a private foundation focused on Education, based in NEWPORT, RI. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $803K in total assets. In 2024, it awarded 8 grants totaling $45K. Net investment income was $76K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $803,330 | $769,023 | $794,401 |
| Revenue | $93,252 | $50,463 | $37,541 |
| Expenses | $58,945 | $76,254 | $58,071 |
| Qualifying Distributions | $45,000 | $64,000 | $44,000 |
| Net Investment Income | $76,055 | $34,565 | $21,188 |
| Distributable Amount | $44,520 | $44,748 | $48,702 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2024
Grant Size Distribution
41 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Yale University ($10,000), The Taft School ($10,000), Northeastern University Annual Givi ($5,625).
| Recipient | Purpose | Amount |
|---|---|---|
| Episcopal School of Jacksonville Jacksonville, FL | Provide scholarships | $5,250 |
| Yale University New Haven, CT | Provide scholarships | $10,000 |
| The Taft School Watertown, CT | Provide scholarships | $10,000 |
| Sail Newport Newport, RI | Provide scholarships | $2,500 |
| Bishop John T Walker School for Boy Washington, DC | Provide scholarships | $1,000 |
| Northeastern University Annual Givi Boston, MA | Provide scholarships | $5,625 |
| Brown University Providence, RI | Provide Scholarships | $5,625 |
| University of Central Arkansas Conway, AR | Provide Scholarships | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Susan Daly | Trustee | 0.25 | — |
| Timothy Bingham | Trustee | 0.25 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is MC Scholarship Foundation?
MC Scholarship Foundation is a private foundation focused on Education, based in NEWPORT, RI. It holds $803K in total assets as of 2024.
How large is MC Scholarship Foundation?
As of 2024, MC Scholarship Foundation holds $803K in total assets with $93K in annual revenue. It awarded 8 grants totaling $45K in 2024.
Where does MC Scholarship Foundation operate?
MC Scholarship Foundation has awarded grants in Arkansas, Connecticut, District of Columbia, Florida, Iowa, Massachusetts, New York, Pennsylvania, Rhode Island, Virginia.
What size grants does MC Scholarship Foundation award?
In 2024, MC Scholarship Foundation awarded 8 grants totaling $45K — an average of about $6K per grant, based on its IRS Form 990 filings.
How much is MC Scholarship Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, MC Scholarship Foundation reported a distributable amount of $45K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is MC Scholarship Foundation's EIN?
MC Scholarship Foundation's EIN (Employer Identification Number) is 22-6078909. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in MC Scholarship Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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