Orrstown Bank Foundation Inc
- Assets
- $491.3k
- Revenue
- $140.7k
- Investments
- $491.3k
- Employees
- 0
- Location
- Shippensburg, PA
- Founding
- 12/2005
- Data as of
- 12/2023
- EIN
- 20-3317347
Organization Overview
Orrstown Bank Foundation Inc is located in Shippensburg, PA. The organization was established in 2005. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orrstown Bank Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Orrstown Bank Foundation Inc generated $140.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $56.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Orrstown Bank Foundation Inc has awarded 267 individual grants totaling $920,541. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL GRANTS TO VARIOUS INDIVIDUALS WHO APPLIED FOR AID
DISTRIBUTED GRANTS FROM INVESTMENT INCOME TO CHARITIES TO HELP FURTHER THEIR CHARITABLE CAUSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas R Quinn Jr President | 1 | $0 | |
Joel Zullinger Chairman | 1 | $0 | |
Floyd E Stoner Director | 1 | $0 | |
Gregory Rosenberry Director | 1 | $0 | |
Anthony F Ceddia Director | 1 | $0 | |
Mark K Keller Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $120,800 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,349 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $506 |
| Capital Gain Net Income | $506 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $140,655 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $133 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,795 |
| Contributions, gifts, grants paid | $52,500 |
| Total expenses and disbursements | $56,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $491,259 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Orrstown Bank Foundation Inc has awarded $52,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CARLISLE FAMILY YMCA PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $5,000 |
MENNO HAVEN INC PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $20,000 |
AWARDED SCHOLARSHIPS PURPOSE: EDUCATIONAL SCHOLARSHIP | $19,500 |
CENTRAL PA FOOD BANK PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $5,000 |
SHIPPENSBURG UNIVERSITY PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $3,000 |