Paul & Norma Schaumburg Charitable Tr
- Assets
- $4.7m
- Revenue
- $164.8k
- Investments
- $710.8k
- Employees
- 0
- Location
- Milford, IL
- Founding
- 08/2012
- Data as of
- 12/2022
- EIN
- 45-6918419
Organization Overview
Paul & Norma Schaumburg Charitable Tr is located in Milford, IL. The organization was established in 2012. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Paul & Norma Schaumburg Charitable 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, Paul & Norma Schaumburg Charitable Tr generated $164.8k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $376.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Paul & Norma Schaumburg Charitable Tr has awarded 96 individual grants totaling $1,250,089. 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 |
|---|---|---|---|
Cheryl Knake Co Trustee | 0 | $15,000 | |
Gayle Van Vickle Co Trustee | 0 | $15,000 | |
Craig Luke Co Trustee | 0 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,957 |
| Dividends & Interest | $18,796 |
| Net Rental Income | $95,586 |
| Net Gain on Sale of Assets | $16,461 |
| Capital Gain Net Income | $14,495 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,571 |
| Total Revenue | $164,756 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,996 |
| Depreciation | $14,405 |
| Occupancy | $163 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $495 |
| Total operating and administrative expenses | $93,965 |
| Contributions, gifts, grants paid | $282,515 |
| Total expenses and disbursements | $376,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $765,804 |
| 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 | $3,243,621 |
| Other assets | $0 |
| Total assets | $4,720,253 |
| 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, Paul & Norma Schaumburg Charitable Tr has awarded $282,515 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
JORDAN FRITCH PURPOSE: SCHOLARSHIP | $5,000 |
KENDALL MCCALLA PURPOSE: SCHOLARSHIP | $5,000 |
CHRISTOPHER WHITEMAN PURPOSE: SCHOLARSHIP | $5,000 |
SHELDONMILFORD ED FOUNDATION PURPOSE: SUPPORT EDUCATION | $25,000 |
ILLINOIS LIBRARY ASSOCIATION PURPOSE: PROMOTE LIBRARY PROGRAMS | $5,600 |
OUR SAVIOUR LUTHERAN CHURCH PURPOSE: SUPPORT CHURCH ACTIVITIES | $12,600 |