Elmer O & Ida Preston Educational Trust
- Assets
- $2.0m
- Revenue
- $103.3k
- Investments
- $1.7m
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 07/1960
- Data as of
- 12/2023
- EIN
- 42-6053621
Organization Overview
Elmer O & Ida Preston Educational Trust is located in Des Moines, IA. The organization was established in 1960. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Elmer O & Ida Preston Educational Trust 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, Elmer O & Ida Preston Educational Trust generated $103.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.7%) each year. All expenses for the organization totaled $177.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Elmer O & Ida Preston Educational Trust has awarded 167 individual grants totaling $580,125. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Proctor David Jw Trustee | 2 | $28,000 | |
Van Vleet Christopher Trustee | 1 | $5,000 | |
Morgan Monica L Trustee | 1 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $17 |
| Dividends & Interest | $38,056 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $63,469 |
| Capital Gain Net Income | $63,469 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,710 |
| Total Revenue | $103,252 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $38,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $932 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $53,842 |
| Total operating and administrative expenses | $92,774 |
| Contributions, gifts, grants paid | $85,125 |
| Total expenses and disbursements | $177,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,885 |
| Savings and temporary cash investments | $41,956 |
| 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 | $226,950 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $467,625 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,000,812 |
| Accounts payable and accrued expenses | $73,875 |
| 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 | $73,875 |
Grants Awarded
Over the last fiscal year, Elmer O & Ida Preston Educational Trust has awarded $85,125 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
SIMON ALLEN PURPOSE: GRANT FOR POST-HIGH SCHOOL EDUCATION | $2,000 |
CHRISTOPHER BARNETT PURPOSE: GRANT FOR POST-HIGH SCHOOL EDUCATION | $3,000 |
NATHANIEL BAUM PURPOSE: GRANT FOR POST-HIGH SCHOOL EDUCATION | $2,000 |
NICHOLE CARR PURPOSE: GRANT FOR POST-HIGH SCHOOL EDUCATION | $1,500 |
BRIANNA CARROLL PURPOSE: GRANT FOR POST-HIGH SCHOOL EDUCATION | $2,375 |
DAVID CARROLL PURPOSE: GRANT FOR POST-HIGH SCHOOL EDUCATION | $2,500 |