Carroll C Mongan Trust
- Assets
- $340.9k
- Revenue
- $8.4k
- Investments
- $178.7k
- Employees
- 0
- Location
- Cherokee, IA
- Founding
- 11/1996
- Data as of
- 12/2022
- EIN
- 42-6550538
Organization Overview
Carroll C Mongan Trust is located in Cherokee, IA. The organization was established in 1996. 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. Carroll C Mongan 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, Carroll C Mongan Trust generated $8.4k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $25.8k 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
AWARD 3 EDUCATIONAL SCHOLARSHIPS OF $1,000.00 EACH ( TOTAL $3,000.00) FOR COLLEGE AND 4 LOW INTEREST STUDENT OF $8000 EACH ( $2000 PER YEAR FOR 4 YEARS) TO RESIDENTS OF CHEROKEE COUNTY IOWA WITH A PREFERENCE IN THE TRUST INSTRUMENT FOR MEMBERS OR FAMILY MEMBERS OF THE US ARMED FORCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 2 | $0 | |
Brian Lockin Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,437 |
| Dividends & Interest | $3,953 |
| 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 | $0 |
| Total Revenue | $8,390 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $10 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,757 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $25,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $128,223 |
| 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 | $34,000 |
| Total assets | $340,920 |
| 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, Carroll C Mongan Trust has awarded $20,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
TYLER ZEIMAN PURPOSE: EDUCATION | $2,000 |
MEGAN BROWN PURPOSE: EDUCATION | $2,000 |
JAMES CREEL PURPOSE: EDUCATION | $2,000 |
DUSTIN KOHN PURPOSE: EDUCATION | $2,000 |
EMMA VANDELUNE PURPOSE: EDUCATION | $2,000 |
REBECCA COWAN PURPOSE: EDUCATION | $2,000 |