Velma A Denny Scholarship Tr
- Assets
- $445.9k
- Revenue
- $20.6k
- Investments
- $398.0k
- Employees
- 0
- Location
- Canton, IL
- Founding
- 01/2013
- Data as of
- 12/2023
- EIN
- 46-6235199
Organization Overview
Velma A Denny Scholarship Tr is located in Canton, IL. The organization was established in 2013. 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. Velma A Denny Scholarship 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 12/2023, Velma A Denny Scholarship Tr generated $20.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $31.7k during the year ending 12/2023. While expenses have increased by 3.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRUST AWARDS SCHOLARSHIPS TO STUDENTS ATTENDING COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Carter Trustee | 1 | $0 | |
Gary Barnhart Trustee | 1 | $0 | |
Superintendent-Canton Union Schools Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $18,284 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $266 |
| Capital Gain Net Income | $266 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,030 |
| Total Revenue | $20,580 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $5,731 |
| Contributions, gifts, grants paid | $26,000 |
| Total expenses and disbursements | $31,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $47,908 |
| 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 | $224,552 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $445,932 |
| 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, Velma A Denny Scholarship Tr has awarded $26,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CEDARVILLE UNIVERSITY PURPOSE: SCHOLARSHIP FOR CANTON HIGH | $6,000 |
ILLINOIS COLLEGE PURPOSE: SCHOLARSHIP FOR CANTON HIGH | $4,000 |
UNIVERSITY OF ILLINOIS PURPOSE: SCHOLARSHIP FOR CANTON HIGH | $4,000 |
ILLINOIS STATE UNIVERSITY PURPOSE: SCHOLARSHIP FOR CANTON HIGH | $8,000 |
IOWA STATE UNIVERSITY PURPOSE: SCHOLARSHIP FOR CANTON HIGH | $4,000 |