Mccommons-Korlick Memorial Trust
- Assets
- $247.1k
- Revenue
- $7.8k
- Investments
- $217.4k
- Employees
- 0
- Location
- Waterloo, IA
- Founding
- 04/2015
- Data as of
- 12/2022
- EIN
- 42-1197971
Organization Overview
Mccommons-Korlick Memorial Trust is located in Waterloo, IA. The organization was established in 2015. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, 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. Mccommons-Korlick Memorial 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, Mccommons-Korlick Memorial Trust generated $7.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $19.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mccommons-Korlick Memorial Trust has awarded 28 individual grants totaling $100,650. 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 | $2,520 |
| Dividends & Interest | $5,361 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$99 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,782 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $112 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $17 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,930 |
| Contributions, gifts, grants paid | $16,000 |
| Total expenses and disbursements | $19,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $29,717 |
| 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 | $247,084 |
| 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, Mccommons-Korlick Memorial Trust has awarded $16,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
REAGAN SKOVGARD PURPOSE: EXEMPT SCHOLARSHIP | $4,000 |
LAUREN BYSTRICKY PURPOSE: ASSISTING THE RECIPIENT TO ATTEND ANY APPROVED COLLEGE, JUNIOR COLLEGE, COMMUNITY COLLEGE, VOCATIONAL TECHNICAL SCHOOL OR TRADE SCHOOL OF THE GRADUATE'S CHOICE. | $4,000 |
STEPHANIE KEHOE PURPOSE: ASSISTING THE RECIPIENT TO ATTEND ANY APPROVED COLLEGE, JUNIOR COLLEGE, COMMUNITY COLLEGE, VOCATIONAL TECHNICAL SCHOOL OR TRADE SCHOOL OF THE GRADUATE'S CHOICE. | $4,000 |
KARLIE RICKERT PURPOSE: EXEMPT SCHOLARSHIP | $4,000 |