Speer Charitable Trust
- Assets
- $48.4m
- Revenue
- $2.2m
- Investments
- $46.7m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 05/1989
- Data as of
- 11/2023
- EIN
- 62-1338941
Organization Overview
Speer Charitable Trust is located in Memphis, TN. The organization was established in 1989. 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. Speer 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 11/2023, Speer Charitable Trust generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $2.7m during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Speer Charitable Trust has awarded 219 individual grants totaling $20,783,525. 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 |
|---|---|---|---|
Stephen W Vescovo President And Trustee | 2 | $0 | |
C T Courtenay Treasurer And Trustee | 2 | $0 | |
Chris Koch Secretary And Trustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Raymond James & Associates Inc | 11/29/22 | $361,992 |
Gerber Taylor | 11/29/22 | $127,340 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,015,804 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,186,820 |
| Capital Gain Net Income | $1,186,820 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,202,624 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $81,545 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,230 |
| Total operating and administrative expenses | $480,534 |
| Contributions, gifts, grants paid | $2,179,550 |
| Total expenses and disbursements | $2,660,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,636,096 |
| 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 | $48,363,455 |
| 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, Speer Charitable Trust has awarded $6,259,550 in support to 60 organizations.
| Grant Recipient | Amount |
|---|---|
A STEP AHEAD FOUNDATION PURPOSE: PROGRAM RELATED | $65,000 |
MEMPHIS JOY PROM PURPOSE: PROGRAM RELATED | $5,000 |
MEMPHIS UNION MISSION PURPOSE: PROGRAM RELATED | $20,000 |
MID-SOUTH FOOD BANK PURPOSE: PROGRAM RELATED | $161,500 |
MIFA PURPOSE: PROGRAM RELATED | $80,000 |
POINT HONDURAS MINISTRY PURPOSE: PROGRAM RELATED | $20,000 |