Marvin B Smith Jr Memorial Scholarships Trust
- Assets
- $877.2k
- Revenue
- $87.7k
- Investments
- $824.2k
- Employees
- 0
- Location
- Greensboro, NC
- Founding
- 09/1961
- Data as of
- 12/2021
- EIN
- 56-6048318
Organization Overview
Marvin B Smith Jr Memorial Scholarships Trust is located in Greensboro, NC. The organization was established in 1961. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Marvin B Smith Jr Memorial Scholarships 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 12/2021, Marvin B Smith Jr Memorial Scholarships Trust generated $87.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $102.5k during the year ending 12/2021. While expenses have increased by 6.2% per year over the past 7 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FUNDS TO THE UNIVERSITY OF NORTH CAROLINA SCHOLARSHIP COMMITTE AT CHAPEL HILL TO AWARD DESERVING STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY OF NORTH CAROLINA OFFICE OF SCHOLARSHIP & STUDENT AID
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $31,881 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $55,725 |
| Capital Gain Net Income | $54,795 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $47 |
| Total Revenue | $87,653 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $9,905 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $10,655 |
| Contributions, gifts, grants paid | $91,835 |
| Total expenses and disbursements | $102,490 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,051 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $877,241 |
| 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, Marvin B Smith Jr Memorial Scholarships Trust has awarded $91,835 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OFFICE OF SCHOLARSHIPS & STUDENT AI PURPOSE: SCHOLARSHIPS | $61,835 |
OFFICE OF SCHOLARSHIPS & STUDENT AI PURPOSE: SCHOLARSHIPS | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Metro Atlanta Collaborative Inc Atlanta, GA | $93,266,962 | $86,228,529 |
Transylvania Vocational Services Inc Brevard, NC | $52,218,118 | $34,183,028 |
University System Of Georgia Foundation Inc Atlanta, GA | $572,651,205 | $27,479,908 |
Champions For Education Inc Charlotte, NC | $4,769,828 | $14,830,024 |
Atlanta Neighborhood Charter School Inc Atlanta, GA | $8,677,734 | $16,201,042 |
Campus Development Foundation Inc Chattanooga, TN | $70,898,605 | $12,373,348 |
Hephzibah Charter Foundation Inc Hephzibah, GA | $10,181,498 | $8,307,126 |
Foundation Properties Inc Columbus, GA | $108,758,689 | $6,742,153 |
Nc State Engineering Foundation Inc Raleigh, NC | $172,988,383 | $18,412,442 |
Georgia Student Scholarship Organization Sso Inc Cumming, GA | $4,146,288 | $9,720,252 |
St Christophers School Foundation Richmond, VA | $94,106,126 | $9,680,251 |
Lowes Foundation Mooresville, NC | $8,794,184 | $2,155,365 |