Clarence Schock Scholarship & Fellowship Charitable Trust I
- Assets
- $6.6m
- Revenue
- $522.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lancaster, PA
- Founding
- 03/2015
- Data as of
- 10/2022
- EIN
- 47-1758865
Organization Overview
Clarence Schock Scholarship & Fellowship Charitable Trust I is located in Lancaster, PA. The organization was established in 2015. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Clarence Schock Scholarship & Fellowship Charitable Trust I 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 10/2022, Clarence Schock Scholarship & Fellowship Charitable Trust I generated $522.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (28.6%) each year. All expenses for the organization totaled $722.6k during the year ending 10/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAKING DISTRIBUTIONS TO ORGANIZATIONS FOR CHARITABLE PURPOSES AND PROVIDING SCHOLARSHIPS, IN THE NAME AND MEMORY OF CLARENCE SCHOCK, TO DESERVING STUDENTS AT MILLERSVILLE UNIVERSITY, SHIPPENSBURG UNIVERSITY, WEST CHESTER UNIVERSITY, AND KUTZTOWN UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FUNDING TO FOUR SUPPORTED ORGANIZATIONS (MILLERSVILLE UNIVERSITY, SHIPPENSBURG UNIVERSITY, WEST CHESTER UNIVERSITY, AND KUTZTOWN UNIVERSITY) FOR THE CREATION AND ONGOING ADMINISTRATION OF SCHOLARSHIP PROGRAMS IN THE NAME AND MEMORY OF CLARENCE SCHOCK, WHICH PROVIDE SCHOLARSHIPS THAT SATISFY A MINIMUM OF 20% OF THE RECIPIENTS TUITION FOR EIGHT SEMESTERS AND FELLOWSHIPS TO DESERVING STUDENTS AT THE NAMED UNIVERSITIES.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $182,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $340,512 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $522,555 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $674,433 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $40,429 |
| Compensation of current officers, directors, key employees. | $40,429 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,167 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,562 |
| Total functional expenses | $722,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $207,982 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,441,260 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,649,242 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,649,242 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,649,242 |
Grants Awarded
Over the last fiscal year, Clarence Schock Scholarship & Fellowship Charitable Trust I has awarded $674,433 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Millersville, PA PURPOSE: SCHOLARSHIPS & FELLOWSHIPS | $249,540 |
SHIPPENSBURG UNIVERSITY PURPOSE: SCHOLARSHIPS & FELLOWSHIPS | $182,097 |
WEST CHESTER UNIVERSITY PURPOSE: SCHOLARSHIPS & FELLOWSHIPS | $141,631 |
KUTZTOWN UNIVERSITY PURPOSE: SCHOLARSHIPS & FELLOWSHIPS | $101,165 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clark Charitable Foundation Inc Bethesda, MD | $421,128,793 | $429,131,785 |
Kendeda Fund Wilmington, DE | $107,220,402 | $29,360,526 |
General Professional Liability Lass Fund Trust Agreement Pittsburgh, PA | $165,577,722 | $37,293,555 |
Jader Trust 4 New York, NY | $1,054,851,689 | $157,383,970 |
Rockefeller Family Fund Inc New York, NY | $156,631,848 | $43,772,368 |
Shapiro-Silverberg Foundation New York, NY | $41,665,129 | $24,069,378 |
Hess Philanthropic Fund New York, NY | $231,447,732 | $32,591,174 |
Edith L Trees Charitable Trust Pittsburgh, PA | $351,552,610 | $23,983,044 |
Natural Heritage Trust Albany, NY | $68,314,961 | $23,861,363 |
Hollow Metal Trust Fund New York, NY | $38,290,021 | $12,661,866 |
Adp Foundation Roseland, NJ | $23,560,078 | $20,725,290 |
Foundation Berma New York, NY | $320,553,699 | $33,382,644 |