Shell Rock Community Trust
- Assets
- $1.6m
- Revenue
- $80.9k
- Investments
- $1.4m
- Employees
- 0
- Location
- Shell Rock, IA
- Founding
- 06/1993
- Data as of
- 12/2021
- EIN
- 42-1402565
Organization Overview
Shell Rock Community Trust is located in Shell Rock, IA. The organization was established in 1993. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Shell Rock Community 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 12/2021, Shell Rock Community Trust generated $80.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (33.4%) each year. All expenses for the organization totaled $54.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE COMMUNITY OF THE CITY OF SHELL ROCK, IOWA AND THE IMMEDIATE SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S PRIMARY ACTIVITY IS TO ESTABLISH AND MAINTAIN A FUND TO PROVIDE FINANCIAL SUPPORT IN THE FORM OF GRANTS TO EXISTING 501(C)(3) CORPORATIONS, COMMUNITY ACTIVITIES AND THE LOCAL GOVERNMENT. IN ORDER TO PROVIDE THIS FINANCIAL SUPPORT, THE ORGANIZATION IS FOCUSED ON BUILDING AND MAINTAINING A FUND THAT WILL DEVELOP INVESTMENT INCOME FOR USE IN ACCOMPLISHING THE ORGANIZATION'S MISSION OF THE IMPROVEMENT OF THE SHELL ROCK, IOWA COMMUNITY AND ITS SURROUNDING AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Harms VP & Treasurer / Trustee | 0.1 | $0 | |
Ellen Day Trustee | 0.1 | $0 | |
Larry Young Secretary / Trustee | 0.1 | $0 | |
Jim Willson Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,100 |
| Dividends & Interest | $26,918 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $52,910 |
| Capital Gain Net Income | $52,910 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $80,928 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $309 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2 |
| Total operating and administrative expenses | $4,561 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $54,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,078 |
| Savings and temporary cash investments | $0 |
| 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 | $1,562,072 |
| 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 |
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