Myrtle Cass Tr
- Assets
- $897.9k
- Revenue
- $412.4k
- Investments
- $349.0k
- Employees
- 0
- Location
- Grinnell, IA
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 42-6563202
Organization Overview
Myrtle Cass Tr is located in Grinnell, IA. The organization was established in 1998. 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. Myrtle Cass Tr 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 12/2021, Myrtle Cass Tr generated $412.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $180.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Myrtle Cass Tr has awarded 36 individual grants totaling $1,656,467. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST'S SOLE PROGRAM IS THE DISTRIBUTION OF NET INCOME 30% TO THE TRUSTEES OF GRINNELL COLLEGE FOR SCHOLARSHIPS, 20% TO THE TRUSTEES OF UNITY POINT HOSPITAL - GRINNELL (FORMERLY KNOWN AS GRINNELL REGIONAL MED CENTER)
50% TO THE WORLD WIDE CHURCH OF GOD (NOW KNOWN AS GRACE COMMUNION INTERNATIONAL).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 1 | $3,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $25 |
| Dividends & Interest | $786 |
| Net Rental Income | $60,698 |
| Net Gain on Sale of Assets | $322,333 |
| Capital Gain Net Income | $322,333 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $412,424 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $9,446 |
| Other employee salaries and wages | $7,611 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $19,717 |
| Depreciation | $5,856 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,075 |
| Total operating and administrative expenses | $51,705 |
| Contributions, gifts, grants paid | $128,653 |
| Total expenses and disbursements | $180,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $202,503 |
| 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 | $346,396 |
| Other assets | $0 |
| Total assets | $897,941 |
| 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, Myrtle Cass Tr has awarded $277,614 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GRACE COMMUNION INTERNATIONAL PURPOSE: GENERAL SUPPORT OF CHURCH | $74,481 |
GRACE COMMUNION INTERNATIONAL PURPOSE: GENERAL SUPPORT OF CHURCH | $64,327 |
GRINNELL COLLEGE PURPOSE: SCHOLARSHIPS FOR STUDENTS | $44,688 |
GRINNELL COLLEGE PURPOSE: SCHOLARSHIPS FOR STUDENTS | $38,596 |
UNITY POINT HOSPITAL - GRINNELL PURPOSE: GENERAL SUPPORT OF HOSPITAL | $29,792 |
UNITY POINT HOSPITAL - GRINNELL PURPOSE: GENERAL SUPPORT OF HOSPITAL | $25,730 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Otto Bremer Trust St Paul, MN | $1,543,197,073 | $135,875,116 |
Walter Scott Family Foundation Omaha, NE | $596,551,475 | $88,689,053 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
The Richard M Schulze Family Foundation Minneapolis, MN | $250,424,427 | $45,882,285 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Fred C And Katherine B Andersen Foundation Bayport, MN | $1,210,701,778 | $63,445,932 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |