2024-10-28T10:57:30-04:00 2023-12-31 263582184 CAIN BOURRET JARRY & CRESSMAN LLC 1175 MAMMOTH ROAD SUITE 2A DRACUT MA 01826 990 2023-01-01 222849338 DRACUT SCHOLARSHIP FOUNDATION INC DRAC 9789571593 PO BOX 117 DRACUT MA 018260117 MICHELLE BOERMEESTER TREASURER 9789571421 2024-10-28 true true STEVEN R BOURRET P00042047 9789571421 2024-10-28 2023 2024-10-15 13:58:12Z LINDA STACEY MILLER PO BOX 117 DRACUT MA 01826 498353 false X WWW.DRACUTSCHOLARSHIP.ORG X MA PROVIDE EDUCATIONAL SCHOLARSHIPS TO GRADUATES OF DRACUT HIGH SCHOOL. 25 25 0 25 0 63418 79524 0 19710 62084 112621 89049 195749 230657 152080 160750 0 0 0 922 33064 22207 185144 182957 10605 47700 1675579 1786323 19080 18605 1656499 1767718 PROVIDE EDUCATIONAL SCHOLARSHIPS TO GRADUATES OF DRACUT HIGH SCHOOL. false false 160750 160750 THE ORGANIZATION PROVIDES SCHOLARSHIPS TO GRADUATING STUDENTS AT DRACUT SENIOR HIGH SCHOOL IN DRACUT, MASSACHUSETTS. THE ORGANIZATION AWARDED 61 EDUCATIONAL SCHOLARSHIPS FOR THE YEAR ENDED DECEMBER 31, 2021. 160750 true true false false false false false false false false false false false false false true false false false false false false false false true false false false true false false false false false false false false false false false false false false false false false false false 2 0 true 0 false false false false false false false false false false false false false false X 25 25 false false false false false false false true false false false false false false false false false false MA X MICHELLE BOERMEESTER 9789571593 PO BOX 117 DRACUT MA 01826 X LINDA STACEY MILLER PRESIDENT 1.00 X 0 0 0 PAULA ANNE HOULD VICE PRESIDE 0.50 X 0 0 0 MAUREEN VIRGINIA RIORDAN SECRETARY 0.50 X 0 0 0 MICHELLE BOERMEESTER TREASURER 0.50 X 0 0 0 false false false 20000 59524 79524 42986 42986 263343 244245 19098 19098 19098 112500 20000 23451 89049 230657 62084 160750 160750 5775 5775 8922 8922 2771 1849 922 375 375 MISCELLANEOUS 4189 4189 TAXES 90 90 BANK FEES 85 85 182957 160750 21285 922 831368 842844 844211 943479 1675579 1786323 5250 5775 13830 12830 19080 18605 X 1656499 1767718 1656499 1767718 1675579 1786323 47700 63519 X true X false false X 94957 66531 184234 63418 79524 488664 93814 101224 110633 123982 112500 542153 188771 167755 294867 187400 192024 1030817 1030817 68276 38990 19689 27279 62084 216318 68276 38990 19689 27279 62084 216318 257047 206745 314556 214679 254108 1247135 0.82650 0.84890 0.17000 0.15000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X SCHEDULE D, PAGE 3, PART X THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 830 CMR 63.38T.1 OF MASSACHUSETTS GENERAL LAWS. SINCE THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES, NO LIABILITY OR PROVISION IS MADE FOR CURRENT OR DEFERRED INCOME TAX EXPENSES. THE FOUNDATION IS NOT A PRIVATE FOUNDATION, AND THEREFORE, IS NOT SUBJECT TO AN EXCISE TAX ON ITS NET INVESTMENT INCOME. ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE FOUNDATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME IN 2023 OR 2022. THE FOUNDATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH INCOME TAX ACCOUNTING GUIDANCE IN FASB ASC TOPIC 740, INCOME TAXES. MANAGEMENT IS NOT AWARE OF ANY TRANSACTIONS THAT WOULD NEGATIVELY IMPACT THE FOUNDATION'S TAX-EXEMPT STATUS. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA REQUIRES THE FOUNDATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE FOUNDATION. THE FOUNDATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE FOUNDATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE FOUNDATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2023 OR 2022. ANY INTEREST OR PENALTIES ASSESSED TO THE FOUNDATION WOULD BE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM ANY TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. ALL TAX-EXEMPT ENTITIES ARE SUBJECT TO REVIEW AND AUDIT BY FEDERAL, STATE, AND OTHER APPLICABLE AGENCIES. SUCH AGENCIES MAY REVIEW THE TAXABILITY OF UNRELATED BUSINESS INCOME, OR THE QUALIFICATION OF THE TAX-EXEMPT ENTITY UNDER THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUTES. THE FOUNDATION'S RETURNS ARE SUBJECT TO POSSIBLE EXAMINATION BY THE TAXING AUTHORITIES UNTIL THE EXPIRATION OF THE RELATED STATUTES OF LIMITATIONS ON THOSE TAX RETURNS. IN GENERAL, THE FEDERAL AND STATE RETURNS HAVE A THREE-YEAR STATUTE OF LIMITATIONS. TELETHON 112513 20000 92513 10000 870 7214 CRAFT FAIR 19987 19987 600 694 710 3363 132500 20000 112500 10600 694 1580 10577 23451 89049 true INDIVIDUAL SCHOLARSHIPS 70 160750 CASH FORM 990, PAGE 6, PART VI, LINE 8B NO COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD. FORM 990, PAGE 6, PART VI, LINE 11B THE ORGANIZATION'S TREASURER WILL REVIEW THE TAX RETURN WITH THE INDEPENDENT CPA FIRM. THE TREASURER WILL THEN MEET WITH THE BOARD AND PROVIDE AN APPROPRIATE REVIEW OF THE TAX RETURN AND UPDATE THE BOARD OF DIRECTORS ON ANY UPDATES OR CHANGES. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC