Myrtle Cass Tr
- Assets
- $781.7k
- Revenue
- $86.1k
- Investments
- $387.6k
- Employees
- 0
- Location
- Grinnell, IA
- Founding
- 07/1998
- Data as of
- 12/2022
- 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 12/2022, Myrtle Cass Tr generated $86.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $202.3k during the year ending 12/2022. 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 $1,699,328. 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
2022
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 | |
Name Not Listed Trustee | 1 | $10,263 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $602 |
| Dividends & Interest | $5,626 |
| Net Rental Income | $73,570 |
| Net Gain on Sale of Assets | -$18,350 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $86,058 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,263 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $19,825 |
| Depreciation | $4,398 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,185 |
| Total operating and administrative expenses | $53,371 |
| Contributions, gifts, grants paid | $148,961 |
| Total expenses and disbursements | $202,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $52,038 |
| 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 | $341,998 |
| Other assets | $0 |
| Total assets | $781,668 |
| 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 $320,356 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GRINNELL COLLEGE PURPOSE: SCHOLARSHIPS FOR STUDENTS | $44,688 |
UNITY POINT HOSPITAL - GRINNELL PURPOSE: GENERAL SUPPORT OF HOSPITAL | $29,792 |
GRACE COMMUNION INTERNATIONAL PURPOSE: GENERAL SUPPORT OF CHURCH | $74,481 |
GRINNELL COLLEGE PURPOSE: SCHOLARSHIPS FOR STUDENTS | $51,418 |
UNITY POINT HOSPITAL - GRINNELL PURPOSE: GENERAL SUPPORT OF HOSPITAL | $34,279 |
GRACE COMMUNION INTERNATIONAL PURPOSE: GENERAL SUPPORT OF CHURCH | $85,698 |