Bud Mitchum Scholarship Fund
- Assets
- $1.5m
- Revenue
- $49.5k
- Investments
- $1.4m
- Employees
- 0
- Location
- Spring Hill, TN
- Founding
- 05/2014
- Data as of
- 12/2023
- EIN
- 46-3699627
Organization Overview
Bud Mitchum Scholarship Fund is located in Spring Hill, TN. The organization was established in 2014. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. Bud Mitchum Scholarship Fund 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, Bud Mitchum Scholarship Fund generated $49.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (25.1%) each year.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDING OF SCHOLARSHIPS TO STUDENTS FROM MAURY COUNTY, TN AND/OR MARSHALL COUNTY, TN INTERESTED IN STUDYING AGRICULTURE AT A COLLEGE OR UNIVERSITY LOCATED IN THE STATE OF TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Gary Trustee | 1 | $0 | |
Randy Lochridge Trustee | 1 | $0 | |
Starla Hardin Selection Comm. | 1 | $0 | |
Terri Anne Orr Selection Comm. | 1 | $0 | |
Pinnacle Financial - Kim Boone Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $28,042 |
| Dividends & Interest | $15,735 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,705 |
| Capital Gain Net Income | $5,705 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $49,482 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $707 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $12,755 |
| Contributions, gifts, grants paid | $5,000 |
| Total expenses and disbursements | $17,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $73,105 |
| 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 | $1,486,325 |
| 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, Bud Mitchum Scholarship Fund has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF TN MARTIN FBO JACOB GILLESP PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,000 |
UNIV OF TN MARTIN FBO GARRETT W MIL PURPOSE: EDUCATIONAL SCHOLARSHIP | $5,000 |