Pittman Educational Trust Fbo First Baptist Church Of Cleveland Ms
- Assets
- $0.0
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Sullivans Island, SC
- Founding
- Data as of
- 12/2018
- EIN
- 57-0988877
Organization Overview
Pittman Educational Trust Fbo First Baptist Church Of Cleveland Ms is located in Sullivans Island, SC. Pittman Educational Trust Fbo First Baptist Church Of Cleveland MS is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY MISSION OF THE MAUDE ELIZABETH PITTMAN EDUCATION TRUST F/B/O THE FIRST BAPTIST CHURCH OF CLEVELAND, MS IS TO PROVIDE FUNDING TO THE CHURCH FOR SCHOLARSHIP SUPPORT FOR NEEDY MINISTERIAL STUDENTS AND FUNDING FOR OTHER EDUCATIONAL PROGRAMS OF THE FIRST BAPTIST CHURCH. FUNDS ARE ALSO PROVIDED TO DELTA STATE UNIVERSITY FOUNDATION, INC. OF CLEVELAND, MS TO BE USED EXCLUSIVELY FOR SCHOLARSHIP SUPPORT OF NEEDY DELTA STATE UNIVERSITY STUDENTS.IN 2018, THE BOARD APPROVED THE DISSOLUTION OF THE TRUST WITH THE FUNDS BEING DISTRIBUTED 33% TO FIRST BAPTIST CHURCH OF CLEVELAND MISSISSIPPI AND 67% TO DELTA STATE UNIVERSITY FOUNDATION. AT THE END OF 2018 ALL FUNDS ON HAND HAD BEEN DISTRIBUTED. HOWEVER, IN 2019 ADDITIONAL FUNDS FROM A CLASS ACTION SETTLEMENT WERE RECEIVED, THEREFORE THE 2018 RETURN IS NOT THE FINAL RETURN FOR THE TRUST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRUST HAS DISTRIBUTED FUNDS TO BE USED BY THE CHURCH FOR SCHOLARSHIPS FOR NEEDY MINISTERIAL STUDENTS IN MS AND FOR OTHER EDUCATIONAL PROGRAMS OF THE FIRST BAPTIST CHURCH OF CLEVELAND, MISSISSIPPI. THE TRUST DISTRIBUTED $2,060,363 IN 2018 TO SUPPORT THESE CAUSES AND ALSO IN DISSOLUTION OF THE TRUST.IN 2016 THE TRUST ADDED THE DELTA STATE UNIVERSITY FOUNDATION, INC AS A SUPPORTED ORGANIZATION. THE TRUST DISTRIBUTED $4,061,228 IN 2018 TO DELTA STATE UNIVERSITY FOUNDATION TO BE USED EXCLUSIVELY TO PROVIDE SCHOLARSHIP SUPPORT FOR NEEDY STUDENTS TO ATTEND DELTA STATE UNIVERSITY OF CLEVELAND, MS AND ALSO IN DISSOLUTION OF THE TRUST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred E Pittman MD Founder Trustee | Trustee | 3 | $0 |
Ryan F Whitley Trustee | Trustee | 1 | $0 |
Patricia D Rowe Trustee | Trustee | 1 | $0 |
Jennifer L Pittman Trustee | Trustee | 1 | $0 |
Joan C Pittman Trustee | Trustee | 1 | $0 |
Reverend Brad Beckwith Trustee | Trustee | 1 | $0 |
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 | $10,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,883,569 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,908,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,121,591 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $1,977 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136 |
| 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 | $40,593 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,204,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, Pittman Educational Trust Fbo First Baptist Church Of Cleveland Ms has awarded $6,121,591 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST BAPTIST CHURCH OF CLEVELAND MS PURPOSE: SCHOLARSHIPS FOR NEEDY MINISTERIAL STUDENTS AND FOR EDUCATIONAL PROGRAMS OF FIRST BAPTIST CHURCH | $2,060,363 |
DELTA STATE UNIVERSITY FOUNDATION PURPOSE: SCHOLARSHIP SUPPORT FOR NEEDY STUDENTS TO ATTEND DELTA STATE UNIVERSITY OF CLEVELAND, MS | $4,061,228 |