Nonprofit · EIN 87-0969482
MONTGOMERY COUNTY SCHOLARSHIPS INC
Tax-exempt · JENKINTOWN, PA 19046
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $15,650,885 | $3,956,682 | $11,694,203 | $26,485,550 | $11,222,801 | $15,262,749 |
| December 31, 2024 | 990 | $3,750,309 | $3,588,204 | $162,105 | $3,576,852 | $8,306 | $3,568,546 |
| December 31, 2023 | 990 | $3,417,991 | $20,336 | $3,397,655 | $3,412,733 | $6,292 | $3,406,441 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $15,446,489
- Program service revenue
- $125,918
- Investment income
- $78,478
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $3,600,443
- Compensation of officers, directors and key employees
- $242,000
- Salaries, compensation and benefits (total)
- $280,513
- Professional fundraising fees
- $0
- Accounting fees
- $53,447
- Program services (functional)
- $3,600,443
- Management and general (functional)
- $356,239
Balance sheet and other
- Total assets, start of year
- $3,576,852
- Total assets, end of year
- $26,485,550
- Total liabilities, end of year
- $11,222,801
- Net assets, end of year
- $15,262,749
- Publicly traded securities
- $1,156,352
- Net assets without donor restrictions
- $1,701,202
- Net assets with donor restrictions
- $13,561,547
- Gross receipts
- $15,650,885
- Employees
- 2
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JED SILVERSMITH | DIRECTOR Trustee or director | 20 | $136,500 | $10,000 |
| TODD UNGER | DIRECTOR Trustee or director | 10 | $105,500 | $10,000 |
| MITCH BOBER | TRUSTEE Officer | 0 | $0 | $0 |
| JARET GRONCZEWSKI | TRUSTEE Officer | 0 | $0 | $0 |
| STEPHEN PIEKLIK | TRUSTEE Officer | 0 | $0 | $0 |
990 for the year ended December 31, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JED SILVERSMITH | Director Trustee or director | 20 | $162,750 |
| TODD UNGER | Director Trustee or director | 10 | $85,250 |
| MITCH BOBER | Trustee Officer | 0 | $0 |
| JARET GRONCZEWSKI | Trustee Officer | 0 | $0 |
| STEPHEN PIEKLIK | Trustee Officer | 0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JED SILVERSMITH | Director Trustee or director | 20 | $0 |
| TODD UNGER | Director Trustee or director | 10 | $0 |
| MITCH BOBER | Trustee Officer | 0 | $0 |
| IRA BROWNSTEIN | Trustee Officer | 0 | $0 |
| JARET GRONCZEWSKI | Trustee Officer | 0 | $0 |
| STEPHEN PIEKLIK | Trustee Officer | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 101 GREENWOOD AVE STE 380, JENKINTOWN, PA 19046-2659
- In care of
- % JED SILVERSMITH
- Mailing address (990-N for 2022)
- 207 Winding Way, Merion Station PA 19066
- Principal officer (990 for 2025)
- JED SILVERSMITH, 101 GREENWOOD AVE 380, JENKINTOWN, PA 19046
- Principal officer (990-N for 2022)
- Jed Silversmith, 506 E Gravers Ln, Wyndmoor PA 19038
- Signed the 990
- JED SILVERSMITH, DIRECTOR
- Phone
- (215) 253-8511
- Website
- WWW.PATAXCREDITS.COM
- Return prepared by
- SD ASSOCIATES PC
Mission
MONTGOMERY COUNTY SCHOLARSHIPS, INC. IS A NON PROFIT SET UP TO ALLOW INDIVIDUALS AND BUSINESSES WHO RECEIVE TAX CREDITS UNDER THE STATE OF PENNSYLVANIA'S EITC TAX CREDIT PROGRAM TO USE THOSE CREDITS TO PROVIDE FUNDING TO SELECTED, ELIGIBLE, EDUCATION INSTITUTIONS.
Program accomplishments
- THIS ORGANIZATION PROCESSES EITC TAX CREDIT GIFTS ON BEHALF OF OTHER SCHOOLS. THE BULK OF THE GIFTS WERE RECEIVED ON OR ABOUT DECEMBER 31, 2025. AT YEAR END, THE ORGANIZATION WAS HOLDING $14,190,629 TO BE DISTRIBUTED AS GRANTS IN 2026. BY STATUTE, THE BULK OF THESE FUNDS MUST BE DISTRIBUTED BY THE CLOSE OF THE 2026 FISCAL YEAR. THE ORGANIZATION IS MOVING TO A FISCAL YEAR THAT ALIGNS WITH THIS MODEL.Expenses $3,600,443 · grants $3,600,443 · revenue $15,446,489
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-0969482
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $26,485,550
- Income (IRS master file)
- $15,650,885
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $15,650,885 | $3,956,682 | $26,485,550 | XML |
| 990 | December 2024 | $3,750,309 | $3,588,204 | $3,576,852 | XML |
| 990 | December 2023 | $3,417,991 | $20,336 | $3,412,733 | XML |
| 990-N for 2022 Officer: Jed Silversmith | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-0969482).
Questions about MONTGOMERY COUNTY SCHOLARSHIPS INC
- What is the EIN of MONTGOMERY COUNTY SCHOLARSHIPS INC?
- The employer identification number (EIN) of MONTGOMERY COUNTY SCHOLARSHIPS INC is 87-0969482.
- Is MONTGOMERY COUNTY SCHOLARSHIPS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to MONTGOMERY COUNTY SCHOLARSHIPS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MONTGOMERY COUNTY SCHOLARSHIPS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MONTGOMERY COUNTY SCHOLARSHIPS INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MONTGOMERY COUNTY SCHOLARSHIPS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MONTGOMERY COUNTY SCHOLARSHIPS INC?
- The 990 for the year ended December 31, 2025 names JED SILVERSMITH.
- Who are the officers and directors of MONTGOMERY COUNTY SCHOLARSHIPS INC?
- The 990 for the year ended December 31, 2025 lists 5 people; 2 received compensation from the organization, the highest $136,500 (JED SILVERSMITH, DIRECTOR).
- How much revenue does MONTGOMERY COUNTY SCHOLARSHIPS INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $15,650,885, expenses of $3,956,682 and total assets of $26,485,550 at year end.
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