Martha J Shafer Charitable Scholarship Tr
- Assets
- $752.0k
- Revenue
- $20.3k
- Investments
- $567.3k
- Employees
- 0
- Location
- New Castle, IN
- Founding
- 03/2016
- Data as of
- 12/2023
- EIN
- 47-7291495
Organization Overview
Martha J Shafer Charitable Scholarship Tr is located in New Castle, IN. The organization was established in 2016. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Martha J Shafer Charitable Scholarship 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, Martha J Shafer Charitable Scholarship Tr generated $20.3k 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 (10.6%) each year. All expenses for the organization totaled $42.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Citizens State Bank Trustee | 2 | $8,879 | |
Susan Shelton Director | 0 | $0 | |
Mary Wisehart Phillips Director | 0 | $0 | |
Bill Tucker Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,758 |
| Dividends & Interest | $16,465 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $125 |
| Capital Gain Net Income | $125 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $20,348 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $8,879 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,462 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $45 |
| Other expenses | $0 |
| Total operating and administrative expenses | $20,511 |
| Contributions, gifts, grants paid | $22,318 |
| Total expenses and disbursements | $42,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,532 |
| Savings and temporary cash investments | $182,174 |
| 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 | $505,261 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $752,043 |
| 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, Martha J Shafer Charitable Scholarship Tr has awarded $22,318 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MANDY MCDANIEL PURPOSE: SCHOLARSHIP | $3,000 |
PAYTON SMITH PURPOSE: SCHOLARSHIP | $5,718 |
OLIVIA SILVERS PURPOSE: SCHOLARSHIP | $3,600 |
KENANIAH WILLIAMSON PURPOSE: SCHOLARSHIP | $10,000 |