Marblehead Dollars for Scholars

MARBLEHEAD, MA   |  marblehead.dollarsforscholars.org

Mission

The purpose of the Corporation shall be to provide financial assistance to residents of Marblehead or graduates of Marblehead High School in their pursuit of educational opportunities on a fair, equitable and non-discriminatory basis without regard to race, color, creed, sex or age.

Ruling year info

1962

President

Karen Pierce

Main address

PO BOX 4

MARBLEHEAD, MA 01945 USA

Show more contact info

EIN

04-2978990

NTEE code info

Scholarships, Student Financial Aid, Awards (B82)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The mission of Marblehead Dollars for Scholars is to provide financial assistance to residents of Marblehead or graduates of Marblehead High School in their pursuit of educational opportunities. The general policy is to grant awards to those student applicants demonstrating financial need, as determined by the Awards Committees.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Scholarships

The general policy of the Corporation shall be to grant awards to those student applicants demonstrating financial need, as determined by the Corporation’s Awards Committees; however, awards may be granted based upon a combination of factors including financial need, personal and academic merit and need not be awarded solely based upon the greatest financial need. Separate permanent funds may be established by any donor to provide awards to students solely on the basis of their academic achievements in secondary school, without regard to their financial need. Eligibility for awards from such funds, if the donor so desires, may be limited to students who have qualified for admission to a specific institution of higher education. The Corporation shall have the power to refuse contributions if the Board determines that conditions or restrictions attached thereto are inconsistent with the purposes of the foundation.

Population(s) Served
Students

Where we work

Awards

National Affiliate of the Year Award 2014

Scholarship America

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of academic scholarships awarded

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Related Program

Scholarships

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Number of students who receive scholarship funds and/or tuition assistance

This metric is no longer tracked.
Totals By Year
Related Program

Scholarships

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Marblehead Dollars for Scholars goals:

Increasing our cash flow to allow us to make more significant award amounts to our recipients.

Identifying areas where we can provide support and information to our students and families to navigate the college financial aid procedure.

Encouraging local businesses and individuals to consider more impactful donations to fund higher level endowed scholarships.

Long Term: Growing our investments to a level of sustainable endowment. Build our endowment through High Net worth donations from the community.

Marblehead Dollars for Scholars strategies:

Supporting the Fundraising Committee in ventures to raise capital.

Working with the High School administration and guidance counselors to visit with students in person and online to go over the financial aid forms and the application process; Providing assistance for our process with online directions to students and parents.

Implementing a High Net Worth Donor committee to seek out significant donations within the community; Identifying leaders in our community with expertise in fundraising and high level financial commitment.

Uniting with Commonfund asset management group to invest our endowment.

Marblehead Dollars for Scholars continued capabilities:

We have fundraising events at least twice a year that reach out to the community and send out solicitations twice a year to those in our database who have previously given.

We support events that are held with the intention of donating monies raised to our organization.

Our awards committees have regular contact with the High School administration throughout the school year to support the financial aid process where needed.

We seek out suggestions from our board and collaborate within committees on ways to establish a partnership with those in the community who may be willing to make significant gifts to our organization, i.e., establishing a high impact endowed scholarship.

We use social media platforms to communicate our story and help identify individuals and businesses that might be willing to support our mission.

Marblehead Dollars for Scholars progress:

We continue to administer meaningful scholarships annually to deserving recipients through a rigorous process.

Our endowed scholarships are funded by individuals in the community or associated to the community who believe in education and helping those who want to attend college but cannot afford to do so.

The list of endowed scholarships has risen to 44.

Our Run for the Fund Race and our gift card fundraiser every year are sustainable community events that grow donations as well as promote our organization in a grassroots form.

We regularly review fundraising efforts, high net worth donor information, communications, and investment benchmarks.

Roles and responsibilities are continually articulated through jour executive organization chart and our documents of position descriptions for executive offices.

Next and Long Term:

Establishing significant high impact endowed scholarships with a minimum donation of $100,000.

Financials

Marblehead Dollars for Scholars
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Marblehead Dollars for Scholars

Board of directors
as of 02/22/2022
SOURCE: Self-reported by organization
Board co-chair

Karen Pierce

Marblehead Dollars for Scholars

Term: 2018 - 2022


Board co-chair

Nancy Marrs

Marblehead Dollars for Scholars

Term: 2018 - 2022

George Gearhart

Arnold Shuman

Jo Koopman

James Bacon

Dinny Schwalbe

Jac Bentley

Audrey Brenner

Peter Burke

Gayle Colinet

Jeff Frankel

Emily Green

Helaine Hazlett

Brian Heenan

Xhazzie Kindle

Alex Kulevich

Karen Meyer

Nina Miller

Day Newburg

Kate Nightingale

Amanda Rosenberg

Chris Saulnier

Kim Schillinger

Jennie Sheridan

Kate Sheridan

Sandra Shuman

Andrew Thompson

Michael Weed

Rae Weed

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Not applicable
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Not applicable
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 2/4/2022

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

No data

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 02/15/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.