Wallace E And Hazel C Loft Scholarship Tr
- Assets
- $630.6k
- Revenue
- $17.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Marshalltown, IA
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 47-6965500
Organization Overview
Wallace E And Hazel C Loft Scholarship Tr is located in Marshalltown, IA. The organization was established in 2016. 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. Wallace E And Hazel C Loft 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, Wallace E And Hazel C Loft Scholarship Tr generated $17.1k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $60.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Wallace E And Hazel C Loft Scholarship Tr has awarded 74 individual grants totaling $235,440. 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 |
|---|---|---|---|
Kevin R Hitchins Trustee | 0 | $0 | |
Gary L Burke Trustee | 0 | $0 | |
Barbara Reid Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $15,837 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,243 |
| Capital Gain Net Income | $1,243 |
| Net ST Capital Gain | $3,386 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,082 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $199 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,729 |
| Total operating and administrative expenses | $13,389 |
| Contributions, gifts, grants paid | $46,890 |
| Total expenses and disbursements | $60,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $630,580 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $630,580 |
| 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, Wallace E And Hazel C Loft Scholarship Tr has awarded $46,890 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
HEATHER ALBERTS PURPOSE: SCHOLARSHIP | $7,815 |
MACKENZIE BENGEN PURPOSE: SCHOLARSHIP | $7,815 |
BRYCE JENSENIUS PURPOSE: SCHOLARSHIP | $7,815 |
JACLYNN FENCL PURPOSE: SCHOLARSHIP | $7,815 |
ANNA GREGORSOK PURPOSE: SCHOLARSHIP | $7,815 |
ELLIOTT WALLER PURPOSE: SCHOLARSHIP | $7,815 |