De Groote Scholarship Awards Trust 9-342179250011
- Assets
- $3.0m
- Revenue
- $396.5k
- Investments
- $2.9m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 12/2002
- Data as of
- 12/2021
- EIN
- 37-6390934
Organization Overview
De Groote Scholarship Awards Trust 9-342179250011 is located in Detroit, MI. The organization was established in 2002. 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. DE Groote Scholarship Awards Trust 9-342179250011 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, DE Groote Scholarship Awards Trust 9-342179250011 generated $396.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $301.4k during the year ending 12/2021. While expenses have increased by 5.5% 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Comerica Bank Trust Na Trustee | 5 | $31,837 | |
Vincent Vanacek Co Trustee | 5 | $21,961 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $62,656 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $333,826 |
| Capital Gain Net Income | $333,826 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $22 |
| Total Revenue | $396,504 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $53,798 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $16,073 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $392 |
| Total operating and administrative expenses | $113,444 |
| Contributions, gifts, grants paid | $188,000 |
| Total expenses and disbursements | $301,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,049 |
| 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 | $2,963,106 |
| 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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