Lorraine Combs Charitable Trust
- Assets
- $2.1m
- Revenue
- $95.2k
- Investments
- $2.1m
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 07/2006
- Data as of
- 12/2022
- EIN
- 20-6961007
Organization Overview
Lorraine Combs Charitable Trust is located in Lubbock, TX. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Lorraine Combs 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 12/2022, Lorraine Combs Charitable Trust generated $95.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $152.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $50,551 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,846 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $27,767 |
| Total Revenue | $95,164 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $26,202 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,503 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $30,985 |
| Contributions, gifts, grants paid | $121,100 |
| Total expenses and disbursements | $152,085 |
| 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 | $2,051,222 |
| 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, Lorraine Combs Charitable Trust has awarded $121,100 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COVENEANT HEALTH SYSTEM FOUND PURPOSE: OPERATIONS | $60,550 |
METHODIST CHOLDREN'S HOME PURPOSE: OPERATIONS | $60,550 |