Marie R And Ervine Turner Educational Foundation Inc
- Assets
- $12.8m
- Revenue
- $153.2k
- Investments
- $2.8m
- Employees
- 0
- Location
- Jackson, KY
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 61-1333558
Organization Overview
Marie R And Ervine Turner Educational Foundation Inc is located in Jackson, KY. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Marie R And Ervine Turner Educational Foundation Inc 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 12/2021, Marie R And Ervine Turner Educational Foundation Inc generated $153.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $130.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.6%) per year over the past 3 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS THE SOLE BENEFICIARY OF THE ESTATE OF JOHN R. TURNER. HIS WILL CREATED THIS FOUNDATION WHICH IS TO IMPROVE THE QUALITY OF EDUCATION IN BREATHITT COUNTY, KENTUCKY AND TO PROVIDE FINANCIAL ASSISTANCE TO RESIDENTS OF BREATHITT COUNTY FOR THE PURPOSE OF FURTHERING THEIR EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lesley Warrix Executive Direc | 0 | $37,080 | |
Joy Rae Shelton Treasurer | 0 | $6,000 | |
Donald Ison Director | 0 | $0 | |
Darrell A Herald Chairman | 0 | $0 | |
Marcus Mullins Director | 0 | $0 | |
John Lee Gambill Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $11,059 |
| Interest on Savings | $75,403 |
| Dividends & Interest | $66,609 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $142 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $5,500 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $153,213 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $46,080 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $19,936 |
| Interest | $16 |
| Taxes | $2,643 |
| Depreciation | $279 |
| Occupancy | $16,662 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,730 |
| Total operating and administrative expenses | $101,506 |
| Contributions, gifts, grants paid | $29,000 |
| Total expenses and disbursements | $130,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,187,287 |
| 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 | $2,737 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $4,893 |
| Other assets | $4,759,857 |
| Total assets | $12,754,783 |
| Accounts payable and accrued expenses | $2,416 |
| 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 | $2,416 |
Grants Awarded
Over the last fiscal year, Marie R And Ervine Turner Educational Foundation Inc has awarded $29,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
KENTUCKY COMMUNITY AND TECHNICAL CO PURPOSE: COLLEGE EDUCATION | $8,500 |
UNIVERSITY OF KENTUCKY PURPOSE: COLLEGE EDUCATION | $7,500 |
EASTERN KENTUCKY UNIVERSITY PURPOSE: COLLEGE EDUCATION | $5,500 |
MOREHEAD STATE UNIVERSITY PURPOSE: COLLEGE EDUCATION | $2,000 |
Marion, IN PURPOSE: COLLEGE EDUCATION | $2,000 |
ASBURY UNIVERSITY PURPOSE: COLLEGE EDUCATION | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |