Independence Charitable Trust
- Assets
- $5.1m
- Revenue
- -$320.8k
- Investments
- $1.3m
- Employees
- 0
- Location
- Lawrence, KS
- Founding
- 12/1995
- Data as of
- 12/2022
- EIN
- 48-1172055
Organization Overview
Independence Charitable Trust is located in Lawrence, KS. The organization was established in 1995. According to its NTEE Classification (T30) the organization is classified as: Public 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. Independence Charitable Trust 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, Independence Charitable Trust generated -$320.8k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 45.8% each year . All expenses for the organization totaled $210.6k during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 4 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RECEIVE DONATIONS FOR PURPOSE OF MAKING GRANTS TO 501(C)(3) ORGANIZATIONS.
Describe the Organization's Program Activity:
GRANT TO KANSAS LEGAL SERVICES, INC. - A 501(C)(3) ORGANIZATION SERVING LOW INCOME PERSONS' LEGAL NEEDS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mel J Sauer Jr Chairman Of The Board | Trustee | 1 | $0 |
Roger L Mccollister CEO | Trustee | 1 | $0 |
Marilyn M Harp Executive Director | Trustee | 1 | $0 |
Steve Fredrickson Chief Financial Officer | Trustee | 1 | $0 |
Mike Lennen Trustee | Trustee | 1 | $0 |
Donald A Johnston Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $40,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,000 |
| Total Program Service Revenue | $0 |
| Investment income | $80,922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$37,577 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$320,819 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $202,700 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,926 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $210,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,991 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,759,002 |
| Investments—other securities | $1,301,787 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,066,780 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,673 |
| Total liabilities | $50,673 |
| Net assets without donor restrictions | $5,016,107 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,066,780 |
Grants Awarded
Over the last fiscal year, Independence Charitable Trust has awarded $183,132 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KANSAS LEGAL SERVICES INC PURPOSE: ASSIST LOW INCOME PERSONS' LEGAL NEEDS. | $175,632 |
WESTERN PROFESSIONAL ASSOCIATES INC - PLYMOUTH LANGUAGE PROGRAM PURPOSE: ASSIST PLYMOUTH LANGUAGE PROGRAM OFFERING FREE AND REDUCED COST ENGLISH AND SPANISH CLASSES. | $7,500 |