Orrstown Bank Foundation Inc
- Assets
- $406.9k
- Revenue
- $131.4k
- Investments
- $406.9k
- Employees
- 0
- Location
- Shippensburg, PA
- Founding
- 12/2005
- Data as of
- 12/2022
- EIN
- 20-3317347
Organization Overview
Orrstown Bank Foundation Inc is located in Shippensburg, PA. The organization was established in 2005. 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. Orrstown Bank 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 12/2022, Orrstown Bank Foundation Inc generated $131.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $111.2k during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 8 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.
Since 2015, Orrstown Bank Foundation Inc has awarded 262 individual grants totaling $868,041. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL GRANTS TO VARIOUS INDIVIDUALS WHO APPLIED FOR AID
DISTRIBUTED GRANTS FROM INVESTMENT INCOME TO CHARITIES TO HELP FURTHER THEIR CHARITABLE CAUSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Zullinger Chairman | 1 | $0 | |
Gregory Rosenberry Director | 1 | $0 | |
Floyd E Stoner Director | 1 | $0 | |
Anthony F Ceddia Director | 1 | $0 | |
Eric A Segal Director | 1 | $0 | |
Mark K Keller Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $121,820 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,762 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $820 |
| Capital Gain Net Income | $820 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $131,402 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $147 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,202 |
| Contributions, gifts, grants paid | $110,000 |
| Total expenses and disbursements | $111,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $406,899 |
| 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, Orrstown Bank Foundation Inc has awarded $110,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Chambersburg, PA PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $20,000 |
THE JONATHAN OGDEN FOUNDATION PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $20,000 |
AWARDED SCHOLARSHIPS PURPOSE: EDUCATIONAL SCHOLARSHIP | $18,000 |
Shippensburg, PA PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $11,500 |
Mercersburg, PA PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $10,000 |
CHAMBERSBURG AREA SCHOOL DISTRICT PURPOSE: TO HELP FURTHER THEIR CHARITABLE CAUSE | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Orrstown Bank Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
G Leonard Fogelsonger Foundation Shippensburg, PA PURPOSE: TO HELP FURTHER THE CHARITABLE CAUSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |