Scharlepp Scholarship Trust
- Assets
- $3.2m
- Revenue
- $185.9k
- Investments
- $135.7k
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 02/2016
- Data as of
- 12/2022
- EIN
- 47-2151700
Organization Overview
Scharlepp Scholarship Trust is located in Sioux Falls, SD. The organization was established in 2016. 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. Scharlepp 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 12/2022, Scharlepp Scholarship Trust generated $185.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $111.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Scharlepp Scholarship Trust has awarded 84 individual grants totaling $491,275. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHARLEPP SCHOLARSHIP TRUST IS ORGANIZED TO PROVIDE EDUCATIONAL OPPORTUNITIES AND FINANCIAL ASSISTANCE TO YOUNG ADULTS FROM OSCEOLA, LYON, SIOUX, AND O'BRIEN COUNTIES OF IOWA. EACH YEAR THE INCOME FROM THE TRUST WILL BE DISTRIBUTED TO THE HIGH SCHOOLS IN THE ABOVE REFERENCED COUNTIES TO BE AWARDED AS TUITION SCHOLARSHIPS TO CURRENT OR RECENT GRADUATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
The First National Bank Sioux Falls Co-Trustee | 2 | $6,960 | |
Gary T Benz Co-Trustee | 2 | $1,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,304 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,178 |
| Capital Gain Net Income | $10,178 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $171,424 |
| Total Revenue | $185,906 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $7,960 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,421 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $290 |
| Total operating and administrative expenses | $21,168 |
| Contributions, gifts, grants paid | $90,000 |
| Total expenses and disbursements | $111,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14 |
| Savings and temporary cash investments | $47,538 |
| 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 | $135,664 |
| Net Land, buildings, and equipment | $2,880,000 |
| Other assets | $139,018 |
| Total assets | $3,202,234 |
| 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, Scharlepp Scholarship Trust has awarded $90,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BOYDEN-HULL COMMUNITY SCHOOL DISTRI PURPOSE: COLLEGE SCHOLARSHIPS TO BE AWARDED | $7,500 |
CENTRAL LYON SENIOR HIGH SCHOOL PURPOSE: COLLEGE SCHOLARSHIPS TO BE AWARDED | $7,500 |
GEORGE-LITTLE ROCK COMMUNITY SCHOOL PURPOSE: COLLEGE SCHOLARSHIPS TO BE AWARDED | $7,500 |
MOC FLOYD VALLEY COMMUNITY SCHOOL PURPOSE: COLLEGE SCHOLARSHIPS TO BE AWARDED | $7,500 |
ROCK VALLEY COMMUNITY SCHOOL PURPOSE: COLLEGE SCHOLARSHIPS TO BE AWARDED | $7,500 |
SHELDON COMMUNITY SCHOOL DISTRICT PURPOSE: COLLEGE SCHOLARSHIPS TO BE AWARDED | $7,500 |