Silas L Griffith Trust
- Assets
- $1.1m
- Revenue
- $234.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Rutland, VT
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 03-6005941
Organization Overview
Silas L Griffith Trust is located in Rutland, VT. The organization was established in 1997. 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. Silas L Griffith 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, Silas L Griffith Trust generated $234.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $91.6k during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THIS TRUST IS A SUPPORT ORGANIZATION FOR A CHURCH, PUBLIC SCHOOL AND LIBRARY. THE SILAS GRIFFITH TRUST ITSELF HAS NO PROGRAM SERVICES. THE TRUST WAS CREATED UNDER THE WILL OF SILAS GRIFFITH. THE PRIMARY EXEMPT PURPOSE OF THE TRUST IS TO PROVIDE FINANCIAL SUPPORT FOR THE CHURCH, A SUBCOMMITTEE OF THE CHURCH WHICH PROVIDES FUNDS FOR CHRISTMAS GIFTS AND CLOTHING FOR THE NEEDY CHILDREN OF DANBY/MT TABOR, THE DANBY/MT TABOR PUBLIC SCHOOL AND THE DANBY PUBLIC LIBRARY, ALL OF WHICH ARE 501(C)(3) ORGANIZATIONS. EFFECTIVE JULY 1, 2021 THE TRUSTEE, AFTER TAKING INTO ACCOUNT THE INTENTIONS OF THE SETTLOR OF THE TRUST AS EXPRESSED IN THE GOVERNING INSTRUMENT, THE NEEDS OF THE BENEFICIARIES, GENERAL ECONOMIC CONDITIONS, PROJECTED CURRENT EARNINGS AND APPRECIATION FOR THE TRUST, AND PROJECTED INFLATION AND ITS IMPACT ON THE TRUST, HAVE DECIDED TO PAY OUT AS NET INCOME 4% OF THE FAIR MARKET VALUE AS DETERMINED AS OF DECEMBER 31 OF EACH YEAR, IN EQUAL INSTALLMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SILAS GRIFFITH TRUST ITSELF HAS NO PROGRAM SERVICES. THE PRIMARY EXEMPT PURPOSE OF THIS TRUST IS TO PROVIDE FINANCIAL SUPPORT FOR: THE CONGREGATIONAL CHURCH, A SUBCOMMITTEE OF THE CHURCH WHICH PROVIDES FUNDS FOR CHRISTMAS GIFTS AND CLOTHING FOR NEEDY CHILDREN OF DANBY/MT TABOR; THE DANBY/MT TABOR PUBLIC SCHOOL; AND THE DANBY PUBLIC LIBRARY; ALL OF WHICH ARE 501(C)(3) ORGANIZATIONS. THESE NAMED ORGANIZATIONS ARE PROVIDED FOR FROM THE ANNUAL EARNINGS GENERATED BY THE TRUST'S INVESTMENTS. EFFECTIVE JULY 1, 2021 THE TRUSTEE, AFTER TAKING INTO ACCOUNT THE INTENTIONS OF THE SETTLOR OF THE TRUST AS EXPRESSED IN THE GOVERNING INSTRUMENT, THE NEEDS OF THE BENEFICIARIES, GENERAL ECONOMIC CONDITIONS, PROJECTED CURRENT EARNINGS AND APPRECIATION FOR THE TRUST, AND PROJECTED INFLATION AND ITS IMPACT ON THE TRUST, HAVE DECIDED TO PAY OUT AS NET INCOME 4% OF THE FAIR MARKET VALUE AS DETERMINED AS OF DECEMBER 31 OF EACH YEAR, IN EQUAL INSTALLMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard S Smith Former Trustee | Trustee | 2 | $7,800 |
Name Not Listed Successor Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $36,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $197,201 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $234,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $14,027 |
| Compensation of current officers, directors, key employees. | $14,027 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,949 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $74,326 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $91,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $30,268 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,081,957 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,112,225 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $969,485 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $142,740 |
| Total liabilities and net assets/fund balances | $1,112,225 |
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