Clara Mcgowen Memorial Irrevocable Trust
- Assets
- $682.9k
- Revenue
- $118.7k
- Investments
- $405.3k
- Employees
- 0
- Location
- Ardmore, OK
- Founding
- 04/1995
- Data as of
- 12/2021
- EIN
- 73-6280877
Organization Overview
Clara Mcgowen Memorial Irrevocable Trust is located in Ardmore, OK. The organization was established in 1995. 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. Clara Mcgowen Memorial Irrevocable 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 12/2021, Clara Mcgowen Memorial Irrevocable Trust generated $118.7k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $60.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.5%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rudy Jack Ellis Trustee | 2 | $12,130 | |
First National Bank Trust Company Trustee | 2 | $12,130 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $598 |
| Dividends & Interest | $18,607 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $31,606 |
| Capital Gain Net Income | $31,606 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $67,898 |
| Total Revenue | $118,709 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $24,260 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $112 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $26,292 |
| Contributions, gifts, grants paid | $34,647 |
| Total expenses and disbursements | $60,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $277,574 |
| 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 | $682,875 |
| 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 |
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