2025-04-06T12:04:18-07:00 2024-12-31 990EZ 2024-01-01 263119513 PONAGANSET EDUCATION FOUNDATION PONA 4015567747 PO Box 8 Foster RI 02825 Lynn Richardson Treasurer 4015567747 2025-04-06 1 2024 2025-03-06 01:10:19Z X https://www.ponagansetfoundation.org/ X X 134690 X 85974 0 0 14226 0 0 0 0 34490 19377 15113 0 0 0 0 115313 46500 0 0 0 0 0 864 47364 67949 396781 -136880 327850 X 396781 464730 0 0 0 0 396781 464730 0 136880 396781 327850 The Ponaganset Education Foundation does two things: award scholarships to students who are attending college and award grants to fund projects managed by Ponaganset High and Middle School teachers for the benefit of students. These grants are to fund projects that normally would not be funded through annual school budgets. Scholarships awarded to high school seniors who will be attending college and scholarships to students who are currently attending college. Our scholarships are for 4 years at $4,000 per year. In 2023, we also awarded one scholarship at $500 per year for the first 2 years and $2,000 per year for the last two years. The 2024 breakdown for scholarship money paid is as follows: 7 students for 2 semesters ($4k) = $28,000; 9 students for 1 semester ($2) = $18,000; 2 student for 1 semester ($250) = $500. 0 46500 Grants awarded to the local high school or middle school (Ponaganset) to fund one or more educational projects, not covered under the school budget, involving teachers and students. One grant was awarded in 2024 ($2500), but no grants were redeemed in 2024. 0 0 46500 Mark Baker Co-Chairman 0.5 0 0 0 William Vangel Co-Chairman 0.5 0 0 0 Lynn M Richardson Treasurer 1 0 0 0 Dennis Chretien Secretary 0.5 0 0 0 Nancy Mendizabal Board Member 0.5 0 0 0 Lorraine O'Connors Board Member 0.5 0 0 0 Michael Barnes Board Member 0.5 0 0 0 Sharron Rothberg Board Member 0.5 0 0 0 Dianne Morrone Board Member 0.5 0 0 0 Jennifer Lorenzo Board Member 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Lynn M Richardson PO Box 8 Foster RI 02825 4015567747 0 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X 60229 56031 64229 85365 85974 351828 60229 56031 64229 85365 85974 351828 351828 351828 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2024 Golf Tournament 24235 0 24235 561 510 5916 5426 0 826 2024 Wine & Dine Event 10255 0 10255 255 0 225 5218 0 440 0 34490 0 34490 816 510 6141 10644 0 1266 19377 15113 Form 990-EZ, Part I, Line 1 The Foundation's income comes primarily from two sources: Fundraising (annual Golf Tournament and annual Wine & Dine events) and an annual donation from the Battle Family Foundation of Berkeley, CA. Skip Battle is from the First graduating class of Ponaganset High School. The Battle Family Foundation, which is by far our largest annual donation, allows the foundation to award annual scholarships to graduates of Ponaganset High School who plan to attend college or trade school. The scholarships are aimed towards students who are of the first generation in their families to continue with post-secondary education. We receive no funding from government agencies (local, state, or federal). Members of our board of directors are all unpaid volunteers. Form 990-EZ, Part I, Line 10 Two types of scholarships: a) $4000 per year for years 1-4 and b) $500 per year for years 1-2 and $2000 per year for years 3-4. For 2024 we paid $46,500 in student scholarships. Although we granted Teacher Grants, none were paid in 2024. Form 990-EZ, Part I, Line 16 Description;Amount^Wire Transfer Bank Fee;12|Paypal fees on General Donations;35|Glocester Business Association Membership Renewal;60|Office Supplies;177|USPS Post Office Box Fee;188|RI SOS annual filing fee;22|IRS 990 EZ filing fee;41|GBA Membership Dinner Annual Meeting ticket;38|Check order;87|Email website subscription;194|Bank fee dormant account;10^Total;864^ Form 990-EZ, Part I, Line 20 Description;Amount^Student scholarships awarded but not yet paid;-130500|Teacher grants awarded but not yet paid;-6380^Total;-136880^ Form 990-EZ, Part II, Line 26 Description;EOY Amount^Student Scholarships awarded that still need to be paid;130500|Teacher Grants awarded that still need to be paid;6380^Total;136880^