Welshons Family Scholarship Trust
- Assets
- $261.0k
- Revenue
- $23.5k
- Investments
- $255.4k
- Employees
- 0
- Location
- Hastings, MN
- Founding
- 08/1988
- Data as of
- 12/2022
- EIN
- 41-6287586
Organization Overview
Welshons Family Scholarship Trust is located in Hastings, MN. The organization was established in 1988. 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. Welshons Family 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 12/2022, Welshons Family Scholarship Trust generated $23.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $12.3k 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
PROVIDING COLLEGE SCHOLARSHIPS FOR LOCAL HIGH SCHOOL STUDENTS
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $31 |
| Dividends & Interest | $6,275 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,239 |
| Capital Gain Net Income | $17,239 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $23,545 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $472 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,307 |
| Contributions, gifts, grants paid | $11,000 |
| Total expenses and disbursements | $12,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,555 |
| 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 | $260,980 |
| 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, Welshons Family Scholarship Trust has awarded $11,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LILLIAN HIKO PURPOSE: SCHOLARSHIP | $3,500 |
BETHLE RADIATE PURPOSE: SCHOLARSHIP | $1,500 |
LILLIAN HAYES PURPOSE: SCHOLARSHIP | $3,500 |
ALINA SOKOLOVA PURPOSE: SCHOLARSHIP | $2,500 |