Minnie Velo Memorial Charitable Trust
- Assets
- $106.0k
- Revenue
- $2.2k
- Investments
- $41.2k
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 02/1981
- Data as of
- 12/2022
- EIN
- 41-1379832
Organization Overview
Minnie Velo Memorial Charitable Trust is located in Fargo, ND. The organization was established in 1981. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Minnie Velo Memorial 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, Minnie Velo Memorial Charitable Trust generated $2.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (26.2%) each year. All expenses for the organization totaled $6.0k during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST ANNUALLY AWARDS SCHOLARSHIPS TO INDIVIDUALS PURSUING HIGHER EDUCATION IN A HEALTH-RELATED FIELD COURSE OF STUDY
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $35 |
| Dividends & Interest | $1,031 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,150 |
| Total Revenue | $2,216 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $69 |
| Total operating and administrative expenses | $428 |
| Contributions, gifts, grants paid | $5,600 |
| Total expenses and disbursements | $6,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,082 |
| Savings and temporary cash investments | $25,698 |
| 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 | $105,951 |
| 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, Minnie Velo Memorial Charitable Trust has awarded $5,600 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CHASE BALKEN PURPOSE: SCHOLARSHIP | $1,120 |
ELLA BACKSTROM PURPOSE: SCHOLARSHIP | $1,120 |
LISBETH PANTOJA PURPOSE: SCHOLARSHIP | $1,120 |
AMELIA SYTSMA PURPOSE: SCHOLARSHIP | $1,120 |
MEGAN PETERSON PURPOSE: SCHOLARSHIP | $1,120 |