Bailey-Taylor Foundation Scholarship Trust
- Assets
- $1.0m
- Revenue
- $96.1k
- Investments
- $1.0m
- Employees
- 0
- Location
- Farmington, CT
- Founding
- 02/2010
- Data as of
- 06/2024
- EIN
- 27-0505313
Organization Overview
Bailey-Taylor Foundation Scholarship Trust is located in Farmington, CT. The organization was established in 2010. 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. Bailey-Taylor Foundation Scholarship 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 06/2024, Bailey-Taylor Foundation Scholarship Trust generated $96.1k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $67.8k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Bailey-Taylor Foundation Scholarship Trust has awarded 155 individual grants totaling $484,000. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACTIVITY PROVIDES FUNDING FOR THE SCHOLARSHIPS AT THE FARMINGTON HIGH SCHOOL, FARMINGTON, CONNECTICUT OR ITS SUCCESSOR REGIONAL SCHOOL RESIDING IN FARMINGTON FROM THE NET INCOME OF THE FOUNDATION. THE SCHOLARSHIPS SHALL BE SELECTED IN A MANNER PURSUANT TO ARTICLE III OF THE TRUST AGREEMENT. IN THE EVENT THE FARMINGTON HIGH SCHOOL IS NO LONGER A VIABLE FINANCIAL ENTITY OR DETERMINED NOT TO BE AN EDUCATIONAL ENTITY UNDER THE INTERNAL REVENUE CODE SECTION 501(C)3 AND 170, THE CORPUS SHALL BE DISTRIBUTED TO THE FARMINGTON FOUNDATION TO ESTABLISH SCHOLARSHIPS TO WORTHY STUDENTS BY UTILIZING THE CRITERIA ESTABLISHED IN ARTICLE III OF THE TRUST AGREEMENT.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,688 |
| Dividends & Interest | $13,151 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $77,282 |
| Capital Gain Net Income | $77,282 |
| Net ST Capital Gain | $2,684 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $96,121 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $15,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,096 |
| Total operating and administrative expenses | $29,796 |
| Contributions, gifts, grants paid | $38,000 |
| Total expenses and disbursements | $67,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,832 |
| 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 | $1,044,886 |
| 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, Bailey-Taylor Foundation Scholarship Trust has awarded $38,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
WILLA BRASCH PURPOSE: EDUCATIONAL SCHOLARSHIP | $4,500 |
AUDREY ANTONY PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,500 |
GRETA CURRIER PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,500 |
YIFAN WEI PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,500 |
HARISH BALAKRISHNAN PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,500 |
CECILIA KOLENICH PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,500 |