Charles C Faranna Scholarship Tr
- Assets
- $3.0m
- Revenue
- $306.8k
- Investments
- $2.4m
- Employees
- 0
- Location
- Broken Arrow, OK
- Founding
- 07/1990
- Data as of
- 12/2023
- EIN
- 73-6251335
Organization Overview
Charles C Faranna Scholarship Tr is located in Broken Arrow, OK. The organization was established in 1990. 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. Charles C Faranna 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, Charles C Faranna Scholarship Tr generated $306.8k 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 (4.6%) each year. All expenses for the organization totaled $433.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Charles C Faranna Scholarship Tr has awarded 480 individual grants totaling $478,000. 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 |
|---|---|---|---|
Elizabeth Pullum Johnson Trustee | 40 | $228,664 | |
Jo Ann Sanning Trustee | 25 | $69,850 | |
Matthew R Madalone Trustee | 5 | $30,354 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $108,503 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $198,313 |
| Capital Gain Net Income | $198,313 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $306,816 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $328,868 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $21 |
| Taxes | $29,708 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,729 |
| Total operating and administrative expenses | $363,817 |
| Contributions, gifts, grants paid | $70,000 |
| Total expenses and disbursements | $433,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,151 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $581,402 |
| 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 | $1,792 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,985,238 |
| 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, Charles C Faranna Scholarship Tr has awarded $70,000 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
ABIGAIL GROVES PURPOSE: SCHOLARSHIP | $1,000 |
ALEXANDER BLOXHAM PURPOSE: SCHOLARSHIP | $1,000 |
AALIYAH HARVEY PURPOSE: SCHOLARSHIP | $1,000 |
ALEXANDRIA VELOTTA PURPOSE: SCHOLARSHIP | $1,000 |
ALYSSA WEST PURPOSE: SCHOLARSHIP | $1,000 |
BEAU ARMSTRONG PURPOSE: SCHOLARSHIP | $1,000 |