Columbus W Thorn Jr Foundation
- Assets
- $33.5m
- Revenue
- $2.8m
- Investments
- $20.5m
- Employees
- 0
- Location
- Elkton, MD
- Founding
- 03/1973
- Data as of
- 12/2021
- EIN
- 23-7153983
Organization Overview
Columbus W Thorn Jr Foundation is located in Elkton, MD. The organization was established in 1973. 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. Columbus W Thorn Jr Foundation 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, Columbus W Thorn Jr Foundation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 64.9% each year . All expenses for the organization totaled $486.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN ADMINISTERING THE STUDENT LOAN PROGRAM
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $803 |
| Dividends & Interest | $486,975 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,176,012 |
| Capital Gain Net Income | $2,176,012 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $175,653 |
| Total Revenue | $2,839,443 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $195,126 |
| Other employee salaries and wages | $25,255 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $33,666 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $225,024 |
| Total operating and administrative expenses | $486,325 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $486,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,260 |
| Savings and temporary cash investments | $1,562,818 |
| 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 | $10,970,272 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,307,983 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $33,542,411 |
| 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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