Michels Fam Educational Tr
- Assets
- $295.9k
- Revenue
- $90.2k
- Investments
- $295.9k
- Employees
- 0
- Location
- Muscatine, IA
- Founding
- 08/1998
- Data as of
- 12/2023
- EIN
- 42-6570941
Organization Overview
Michels Fam Educational Tr is located in Muscatine, IA. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Michels Fam Educational 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 12/2023, Michels Fam Educational Tr generated $90.2k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 23.1% each year . All expenses for the organization totaled $17.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Michels Fam Educational Tr has awarded 87 individual grants totaling $150,400. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTIBUTION OF SCHOLARSHIPS TO 5 RECIPIENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 3 | $2,915 | |
Michael Wilson Trust Mgr | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $963 |
| Dividends & Interest | $7,463 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $81,761 |
| Capital Gain Net Income | $81,761 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $90,187 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,004 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $4,363 |
| Contributions, gifts, grants paid | $13,000 |
| Total expenses and disbursements | $17,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $295,897 |
| 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, Michels Fam Educational Tr has awarded $7,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ANDRES VARGAS PURPOSE: EDUCATION SCHOLARSHIP | $1,500 |
NANCY NIETO PURPOSE: EDUCATION SCHOLARSHIP | $1,500 |
KRYSTOL MARTZ PURPOSE: EDUCATION SCHOLARSHIP | $1,500 |
ALLISON BROTHERTON PURPOSE: EDUCATION SCHOLARSHIP | $1,500 |
ERIC VALDEZ PURPOSE: EDUCATION SCHOLARSHIP | $1,500 |