Virgil Adkins Life Ins Tr
- Assets
- $1.3m
- Revenue
- $117.0k
- Investments
- $165.1k
- Employees
- 0
- Location
- St Cloud, MN
- Founding
- 03/2002
- Data as of
- 12/2021
- EIN
- 41-1642234
Organization Overview
Virgil Adkins Life Ins Tr is located in St Cloud, MN. The organization was established in 2002. 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. Virgil Adkins Life Ins Tr 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, Virgil Adkins Life Ins Tr generated $117.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $83.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Virgil Adkins Life Ins Tr has awarded 30 individual grants totaling $362,200. 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $29,722 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $87,260 |
| Capital Gain Net Income | $87,260 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $116,982 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,082 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $742 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $27 |
| Total operating and administrative expenses | $19,251 |
| Contributions, gifts, grants paid | $64,000 |
| Total expenses and disbursements | $83,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17 |
| Savings and temporary cash investments | $24,721 |
| 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 | $1,061,347 |
| Total assets | $1,251,230 |
| 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, Virgil Adkins Life Ins Tr has awarded $64,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $25,600 |
Saint Paul, MN PURPOSE: GRAL OPERATING CHARITABLE | $19,200 |
COURAGE KENNY FOUNDATION PURPOSE: PROGRAM SUPPORT | $9,600 |
FOLEY SCHOOL DISTRICT PURPOSE: SCHOLARSHIPS | $4,800 |
MILACA PUBLIC SCHOOLS PURPOSE: SCHOLARSHIPS | $4,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |
David And Janis Larson Foundation Minneapolis, MN | $131,263,001 | -$404,078 |
The Jennings Family Foundation Edina, MN | $20,317,059 | $4,027,228 |
Kaena Foundation Minneapolis, MN | $0 | $2,288,902 |
Melitta S And Joan M Pick Charitable Trust Milwaukee, WI | $69,688,567 | $15,533,257 |
K A H R Foundation Minnetrista, MN | $0 | $2,779,843 |
The Mortenson Family Foundation Minneapolis, MN | $135,941,290 | $34,670,895 |
Northeast Entrepreneur Fund Inc Duluth, MN | $61,578,010 | $11,454,205 |
Easter Foundation Inc De Pere, WI | $48,221,315 | $14,319,286 |
John Ruan Foundation Trust Urbandale, IA | $110,876,833 | $7,230,015 |
Wem 2000 Foundation Minneapolis, MN | $94,111,129 | $6,290,419 |
Ashley Charitable Foundation Ltd Arcadia, WI | $13,824,381 | $199,581 |