John E Solem Scholarship Trust
- Assets
- $112.6k
- Revenue
- $8.2k
- Investments
- $103.1k
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 10/1954
- Data as of
- 12/2023
- EIN
- 46-6010949
Organization Overview
John E Solem Scholarship Trust is located in Sioux Falls, SD. The organization was established in 1954. 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. John E Solem Scholarship 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 12/2023, John E Solem Scholarship Trust generated $8.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $12.4k during the year ending 12/2023. While expenses have increased by 2.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,322 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,867 |
| Capital Gain Net Income | $3,867 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,189 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,956 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $84 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $32 |
| Total operating and administrative expenses | $4,854 |
| Contributions, gifts, grants paid | $7,500 |
| Total expenses and disbursements | $12,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14 |
| Savings and temporary cash investments | $9,452 |
| 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 | $68,616 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $112,563 |
| 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, John E Solem Scholarship Trust has awarded $7,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ABIGAIL GREENHOFF - MOUNT MARTY COL PURPOSE: SCHOLARSHIP | $625 |
CHASE JONES - SOUTH DAKOTA STATE UN PURPOSE: SCHOLARSHIP | $625 |
ADISEN STADEM - NORTHERN STATE UNIV PURPOSE: SCHOLARSHIP | $625 |
ELIZABETH PRICE - LAKE AREA TECHNIC PURPOSE: SCHOLARSHIP | $625 |
MORGAN DAMMAN - UNIVERSITY OF SOUTH PURPOSE: SCHOLARSHIP | $1,250 |
MATTHEW MUSTON - SOUTH DAKOTA STATE PURPOSE: SCHOLARSHIP | $1,500 |