Impact & Measurement
Accountability & Finance
Culture & Community
Leadership & Adaptability
The Scholarship Foundation of Wakefield Inc.
Wakefield MA | IRS ruling year: 2014 | EIN: 04-2444195 
An EIN is a unique nine-digit number that identifies a business for tax purposes.
An EIN is a unique nine-digit number that identifies a business for tax purposes.Organization Mission
IT IS THE MISSION OF THE SCHOLARSHIP FOUNDATION OF WAKEFIELD (TSFW) TO RAISE AND ADMINISTER FUNDS FOR SCHOLARSHIPS TO INSTITUTIONS OF HIGHER LEARNING FOR RESIDENTS O ... (More)
Rating Information
Great
This charity's score is 98%, earning it a Four-Star rating. If this organization aligns with your passions and values, you can give with confidence.
This overall score is calculated from multiple beacon scores, weighted as follows: 44% Accountability & Finance, 56% Impact & Measurement. Learn more about our criteria and methodology.
Historical Ratings 
Historical Ratings 
Charity Navigator's ratings previously did not consider Leadership & Adaptability, Culture & Community, or Impact & Measurement. The historic rating mainly reflects a version of today’s Accountability and Finance score. More information on our previous rating methodologies can be found on our rating methodology page.
Rating histories are available for a growing number of rated organizations. Check back later to see if this organization has a rating history!
Rating Report
Accountability & Finance
Score
96
Most Recent Fiscal Year:
FY 2022
FY 2022
This beacon provides an assessment of a charity's financial health (financial efficiency, sustainability, and trustworthiness) and its commitment to governance practices and policies.
Key Accountability Metrics
Full Credit
Partial Credit
No CreditMajority Independent Board Members - 100% independent members8 out of 8 points
Majority Independent Board Members - 100% independent members8 out of 8 points
Industry professionals strongly recommend an independent governing body to allow for full deliberation and diversity of thinking on governance and other organizational matters. We check to see that a majority of board members are identified as independent on their tax form.
Source: IRS Form 990
Independent Board Size - 32 independent members7 out of 7 points
Independent Board Size - 32 independent members7 out of 7 points
Industry professionals strongly recommend an independent governing body to allow for full deliberation and diversity of thinking on governance and other organizational matters. For most organizations, we check to see if the organization has at least three independent board members. For large, donor-funded organizations, we check to see if the organization has at least five independent board members
Source: IRS Form 990
Financial Statements - Audit and Oversight Committee15 out of 15 points
Financial Statements - Audit and Oversight Committee15 out of 15 points
An Audit, Review, or Compilation provides important information about financial accountability and accuracy. Organizations are scored based on their Total Revenue Amount:
| Total Revenue Amount | Expectation to Receive Credit |
| $2 million or higher and 40% or higher donor support | Expected to complete an audit and have an audit oversight committee |
| $1 million or higher | Expected to complete an audit |
| $500,000 - $1 million | Expected to complete an audit, review, or compilation |
| Less than $500,000 | No expectation (removed from scoring methodology) |
Source: IRS Form 990
Material Diversion of Assets - None10 out of 10 points
Material Diversion of Assets - None10 out of 10 points
A diversion of assets — any unauthorized conversion or use of the organization's assets other than for the organization's authorized purposes, including but not limited to embezzlement or theft — also can seriously call into question a charity's financial integrity. We review the charity's most recent IRS Form 990 to see if the charity has reported any diversion of assets.
Source: IRS Form 990
Tax Form Disclosures and Policies
Full CreditPartial CreditNo CreditWebsite Listed on Tax Form - Listed2 out of 2 points
Website Listed on Tax Form - Listed2 out of 2 points
Charity Navigator looks for a website on the IRS Form 990 as an accountability and transparency metric.
Nonprofits act in the public trust and reporting publicly on activities is an important component.
Source: IRS Form 990
Conflict of Interest Policy - Listed4 out of 4 points
Conflict of Interest Policy - Listed4 out of 4 points
Charity Navigator looks for the existence of a conflict of interest policy on the IRS Form 990 as an accountability and transparency measure.
This policy protects the organization and by extension those it serves, when it is considering entering into a transaction that may benefit the private interest of an officer, director and/or key employee of the organization.
Source: IRS Form 990
Whistleblower Policy - Listed4 out of 4 points
Whistleblower Policy - Listed4 out of 4 points
Charity Navigator looks for the existence of a whistleblower policy per the IRS Form 990 as an accountability and transparency measure.
This policy outlines procedures for handling employee complaints, as well as a confidential way for employees to report financial or other types of mismanagement.
Source: IRS Form 990
Document Retention and Destruction - Listed4 out of 4 points
Document Retention and Destruction - Listed4 out of 4 points
Charity Navigator looks for the existence of a document retention and destruction policy per the IRS Form 990 as an accountability and transparency measure.
This policy establishes guidelines for the handling, backing up, archiving and destruction of documents. These guidelines foster good record keeping procedures that promote data integrity.
Source: IRS Form 990
Documents Board Meeting Minutes - Yes2 out of 2 points
Documents Board Meeting Minutes - Yes2 out of 2 points
Charity Navigator looks to confirm on the IRS Form 990 that the organization has this process in place as an accountability and transparency measure.
An official record of the events that take place during a board meeting ensures that a contemporaneous document exists for future reference.
Source: IRS Form 990
Website Disclosures
Full CreditPartial CreditNo CreditTax Form Posted on Nonprofit's Website - Missing0 out of 4 points
Tax Form Posted on Nonprofit's Website - Missing0 out of 4 points
For almost all charities, we check the charity's IRS Form 990 to see if it discloses that the Form 990 is available on the charity's website. As with the audited financial statement, donors need easy access to this financial report to help determine if the organization is managing its financial resources well.
Source: IRS Form 990
Financial Metrics
Full CreditPartial CreditNo CreditLiabilities to Assets: Ratio - 0.08%15 out of 15 points
Liabilities to Assets: Ratio - 0.08%15 out of 15 points
The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent IRS Form 990). This ratio is an indicator of an organization's solvency and/or long-term sustainability.
Source: IRS Form 990
Program Expense: Ratio - 75.72%25 out of 25 points
Program Expense: Ratio - 75.72%25 out of 25 points
The Program Expense Ratio is determined by Program Expenses divided by Total Expense (average of most recent three IRS Forms 990). This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver.
Source: IRS Form 990
Additional Information
Total Revenue and Expenses - Data Available
Total Revenue and Expenses - Data Available
This chart displays the trend of revenue and expenses over the past several years for this organization, as reported on their IRS Form 990.
Salary of Key Persons - Data Available
Salary of Key Persons - Data Available
Presented here are up to five of this organization's highest compensated employees. This compensation data includes salary, cash bonuses, and expense accounts and is displayed exactly how it is reported to the IRS. The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on Form W-2. In some cases, these amounts may include compensation from related organizations. Read the IRS policies for compensation reporting
Anne Miller, Exec. Admini
$76,950
Michael T Boudreau, Director
$0
Jo-anne Bourque, Director
$0
Kelley Chapman, Director
$0
Stacey Constas, Clerk
$0
Source: IRS Form 990 (page 7), filing year 2022
IRS Published Data (Business Master File) - Data Available
IRS Published Data (Business Master File) - Data Available
Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Learn more about the BMF on the IRS website
Foundation Status:
Organization that normally receives no more than one-third of its support from gross investment income and unrelated business income and at the same time more than one-third of its support from contributions, fees, and gross receipts related to exempt purposes. 509(a)(2) (BMF foundation code: 16)
Affiliation:
Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). (BMF affiliation code: 3)
Data Sources (IRS Forms 990) - Data Available
Data Sources (IRS Forms 990) - Data Available
The Form 990 is a document that nonprofit organizations file with the IRS annually. We leverage accountability and finance data from it to form Encompass ratings. Click here to search for this organization's Forms 990 on the IRS website (if any are available). Simply enter the organization's name (The Scholarship Foundation of Wakefield Inc.) or EIN (042444195) in the 'Search Term' field.
Impact & Measurement
Score
100
This beacon estimates the actual impact a charity has on the lives of those it serves, and determines whether it is making good use of donor resources to achieve that impact.
Assessments
Impact
100 out of 100 points
100% of Impact & Measurement score
Full CreditPartial CreditNo CreditImpact Determination - Highly Cost Effective100 out of 100 points
Impact Determination - Highly Cost Effective100 out of 100 points
Impact Statement
$2,505 increases income for a scholarship recipient by $3,454
Program Context
The nonprofit grants scholarships to beneficiaries.
Data Time Period
1/1/17 to 12/31/17
Benchmark for Scoring
Impact scores of postsecondary scholarship programs are based on income generated relative to cost. Programs receive an Impact score of 100 if they increase income for a recipient by more than $1.25 for every $1 spent and a score of 80 if income increases by more than $0.80 for every $1 spent. If a nonprofit reports impact but doesn't meet the benchmark for cost-effectiveness, it earns a score of 65.
This nonprofit's cost per meal is less than 125% of the local meal cost.
Methodology
Data not available.
Data Source
These data were submitted directly by the nonprofit.
Measurement
Unscored
0% of Impact & Measurement score
Full CreditPartial CreditNo CreditProgram Planning and Design - No data availableProgram Planning and Design - No data availableThis section assesses the use of crucial evaluation tools in program objective-setting and activities.
Program Development - No data availableProgram Development - No data availableThis section assesses the consideration of stakeholders in program objectives and activities.
Data Collection and Analysis - No data availableData Collection and Analysis - No data availableThis section assesses the best practices used in collecting and analyzing program data.
Reporting and Distribution of Results - No data availableReporting and Distribution of Results - No data availableThis section assesses reporting and disseminating program results.
Use of Results - No data availableUse of Results - No data availableThis section assesses the use of results to guide learning.
Culture & Community
Not Currently Scored
The Scholarship Foundation of Wakefield Inc. cannot currently be evaluated by our Culture & Community methodology because we have not received data from the charity regarding its Constituent Feedback or Equity Practices strategies.
Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.
Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.
Leadership & Adaptability
Not Currently Scored
The Scholarship Foundation of Wakefield Inc. cannot currently be evaluated by our Leadership & Adaptability methodology because we have not received data from the charity regarding its leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes.
Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.
Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.