Jack & Mary Rains Scholarship Fund
- Assets
- $351.7k
- Revenue
- $10.3k
- Investments
- $339.9k
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 35-6337707
Organization Overview
Jack & Mary Rains Scholarship Fund is located in Pittsburgh, PA. The organization was established in 2014. 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. Jack & Mary Rains Scholarship Fund 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, Jack & Mary Rains Scholarship Fund generated $10.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $21.5k during the year ending 12/2023. While expenses have increased by 0.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Jack & Mary Rains Scholarship Fund has awarded 21 individual grants totaling $133,295. 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
ISSUED SCHOLARSHIP TO 2 INDIVIDUALS FOR STUDY AT VARIOUS INSTITUTIONS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,549 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $456 |
| Capital Gain Net Income | $456 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $259 |
| Total Revenue | $10,264 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,180 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $79 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,259 |
| Contributions, gifts, grants paid | $16,257 |
| Total expenses and disbursements | $21,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,782 |
| 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 | $339,880 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $351,662 |
| 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, Jack & Mary Rains Scholarship Fund has awarded $16,257 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
LUCAS BARRON PURPOSE: SCHOLARSHIP | $5,419 |
JERRA STANBROUGH PURPOSE: SCHOLARSHIP | $5,419 |
PAYTON ORSCHELL PURPOSE: SCHOLARSHIP | $5,419 |