Marshall H And Nellie Alworth Memorial Fund
- Assets
- $14.1m
- Revenue
- $3.1m
- Investments
- $13.3m
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 02/1951
- Data as of
- 06/2023
- EIN
- 41-0797340
Organization Overview
Marshall H And Nellie Alworth Memorial Fund is located in Duluth, MN. The organization was established in 1951. 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. Marshall H And Nellie Alworth Memorial Fund 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 06/2023, Marshall H And Nellie Alworth Memorial Fund generated $3.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 0.7% 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, Marshall H And Nellie Alworth Memorial Fund has awarded 2,582 individual grants totaling $11,362,600. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS PROGRAM FOR STUDENTS WHO HAVE OUTSTANDING SCHOLASTIC ABILITY AND THE POTENTIAL FOR ACHEIVEMENT IN THE SCIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patty Salo Downs Executive Di | 40 | $70,675 | |
Patty Phillips President | 1 | $600 | |
Lonnie Swartz Vice Preside | 1 | $600 | |
Kurt Brooks Treasurer | 1 | $600 | |
Jeffrey Wig Director | 1 | $400 | |
Maggie Skelton Director | 1 | $600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,923,638 |
| Interest on Savings | $10,642 |
| Dividends & Interest | $225,359 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $557,587 |
| Capital Gain Net Income | $557,587 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $361,246 |
| Total Revenue | $3,078,472 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,275 |
| Other employee salaries and wages | $40,773 |
| Pension plans, employee benefits | $12,248 |
| Interest | $0 |
| Taxes | $13,047 |
| Depreciation | $9,335 |
| Occupancy | $15,038 |
| Travel, conferences, and meetings | $16,549 |
| Printing and publications | $7,893 |
| Other expenses | $31,288 |
| Total operating and administrative expenses | $331,885 |
| Contributions, gifts, grants paid | $1,097,500 |
| Total expenses and disbursements | $1,429,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $745,706 |
| 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 | $20,210 |
| Investments—mortgage loans | $0 |
| Investments—other | $13,314,023 |
| Net Land, buildings, and equipment | $5,322 |
| Other assets | $53,963 |
| Total assets | $14,139,224 |
| Accounts payable and accrued expenses | $4,896 |
| 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 | $54,661 |
| Total liabilities | $59,557 |
Grants Awarded
Over the last fiscal year, Marshall H And Nellie Alworth Memorial Fund has awarded $1,097,500 in support to 224 organizations.
| Grant Recipient | Amount |
|---|---|
ABBY N KOCH PURPOSE: EDUCATIONAL SCHOLARSHIP | $7,500 |
ABIGAIL E JOHNSON PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,000 |
ALENA WALLIN PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,000 |
ABIGAIL R MUELLER PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,000 |
ALAN SEBRING PURPOSE: EDUCATIONAL SCHOLARSHIP | $2,500 |
ALEXANDRA AKER PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,000 |