Florence B Trueman Educational Trust
- Assets
- $433.1k
- Revenue
- $46.4k
- Investments
- $418.7k
- Employees
- 0
- Location
- Tracys Landing, MD
- Founding
- 03/1990
- Data as of
- 06/2023
- EIN
- 52-1649301
Organization Overview
Florence B Trueman Educational Trust is located in Tracys Landing, MD. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florence B Trueman Educational 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 06/2023, Florence B Trueman Educational Trust generated $46.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $51.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 6 years. 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
COLLEGE SCHOLARSHIPS WERE AWARDED TO STUDENTS WHO ATTENDED PUBLIC SCHOOL IN CALVERT COUNTY, MARYLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Scott Whitney Trustee | 2 | $0 | |
Laurence Cumberland Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $9,318 |
| Net Rental Income | $4,851 |
| Net Gain on Sale of Assets | $22,644 |
| Capital Gain Net Income | $22,644 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $46,364 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,932 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,810 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,210 |
| Total operating and administrative expenses | $21,452 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $51,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,367 |
| Savings and temporary cash investments | $0 |
| 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 | $418,732 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $433,099 |
| 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 | $1,200 |
| Total liabilities | $1,200 |
Grants Awarded
Over the last fiscal year, Florence B Trueman Educational Trust has awarded $48,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
SHALYA COOK PURPOSE: TO HELP PAY FOR COLLEGE EDUCATION FOR STUDENTS IN CALVERT COUNTY, MARYLAND. | $2,000 |
CRYSTAL GRAY PURPOSE: TO HELP PAY FOR COLLEGE EDUCATION FOR STUDENTS IN CALVERT COUNTY, MARYLAND. | $1,000 |
CSM FOUNDATION - COLLEGE OF SOUTHERN MARYLAND PURPOSE: TO HELP PAY FOR COLLEGE EDUCATION FOR STUDENTS IN CALVERT COUNTY, MARYLAND. | $30,000 |
SYDNEY HOUSTON PURPOSE: TO HELP PAY FOR COLLEGE EDUCATION FOR STUDENTS IN CALVERT COUNTY, MARYLAND. | $2,000 |
REBEKAH JOHNSON PURPOSE: TO HELP PAY FOR COLLEGE EDUCATION FOR STUDENTS IN CALVERT COUNTY, MARYLAND. | $2,000 |
ARIEL KILBOURNE PURPOSE: TO HELP PAY FOR COLLEGE EDUCATION FOR STUDENTS OF CALVERT COUNTY, MD. | $2,000 |