Robert W Mccormick Scholarship Fund Trust
- Assets
- $1.9m
- Revenue
- $111.1k
- Investments
- $1.9m
- Employees
- 0
- Location
- Charles Town, WV
- Founding
- 04/1996
- Data as of
- 04/2024
- EIN
- 55-0734149
Organization Overview
Robert W Mccormick Scholarship Fund Trust is located in Charles Town, WV. The organization was established in 1996. 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. Robert W Mccormick Scholarship Fund 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 04/2024, Robert W Mccormick Scholarship Fund Trust generated $111.1k 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 (9.3%) each year. All expenses for the organization totaled $173.4k during the year ending 04/2024. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Robert W Mccormick Scholarship Fund Trust has awarded 539 individual grants totaling $2,774,814. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Co-Trustee | 5 | $23,034 | |
F Samuel Byrer Co-Trustee | 1.5 | $14,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,004 |
| Dividends & Interest | $69,683 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $38,062 |
| Capital Gain Net Income | $38,062 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,353 |
| Total Revenue | $111,102 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $37,034 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $490 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $74 |
| Total operating and administrative expenses | $39,352 |
| Contributions, gifts, grants paid | $134,009 |
| Total expenses and disbursements | $173,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,800 |
| 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 | $1,505,395 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,875,966 |
| 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, Robert W Mccormick Scholarship Fund Trust has awarded $134,009 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
BAKER KAITLYN M PURPOSE: BOOKS AND SUPPLIES | $1,100 |
BAKER KAITLYN M PURPOSE: ROOM AND BOARD | $8,743 |
CRONIN OLIVIA S PURPOSE: ROOM AND BOARD | $12,742 |
CRONIN OLIVIA S PURPOSE: BOOKS AND SUPPLIES | $1,100 |
CRONIN OLIVIA S PURPOSE: TUITION AND FEES | $5,206 |
FRALEY HANNAH E PURPOSE: BOOKS AND SUPPLIES | $1,100 |