Webb Shadle Memorial Fund
- Assets
- $1.0m
- Revenue
- $8.2k
- Investments
- $821.7k
- Employees
- 0
- Location
- Pleasantville, IA
- Founding
- 12/1971
- Data as of
- 12/2022
- EIN
- 42-0746005
Organization Overview
Webb Shadle Memorial Fund is located in Pleasantville, IA. The organization was established in 1971. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Webb Shadle Memorial 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 12/2022, Webb Shadle Memorial Fund generated $8.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (35.3%) each year. All expenses for the organization totaled $20.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE WEBB SHADLE MEMORIAL FUND OPERATES AND SUPPORTS A PUBLIC LIBRARY IN PLEASANTVILLE, IOWA. IT SERVES THE TOWN OF PLEASANTVILLE (ESTIMATED POPULATION 1,650) AND THE SURROUNDING COMMUNITY (ESTIMATED POPULATION 2,000)AND HAS A BRANCH FACILITY WITHIN THE HIGH SCHOOL AT PLEASANTVILLE. IT HAS APPROXIMATELY 12,000 BOOKS AND SUBSCRIBES TO SIXTY-ONE DIFFERENT PERIODICALS. IT HAS A REFERENCE DEPARTMENT. THE LIBRARY IS OPEN FIVE DAYS A WEEK (DAILY EXCEPT THURSDAYS AND SUNDAYS) AND WEDNESDAY EVENINGS FROM 7:00 TO 9:00 P.M. IT HAS A FULL TIME LIBRARIAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Myers Trustee | 2 | $0 | |
Ron Danks Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,949 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,936 |
| Capital Gain Net Income | $2,997 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $342 |
| Total Revenue | $8,227 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $271 |
| Depreciation | $0 |
| Occupancy | $1,252 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,007 |
| Total operating and administrative expenses | $20,692 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $20,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,432 |
| Savings and temporary cash investments | $371 |
| 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 | $407,706 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $20,927 |
| Total assets | $1,008,470 |
| 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 |