Harold M Cole Scholarship Trust
- Assets
- $1.1m
- Revenue
- $31.1k
- Investments
- $1.1m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 05/1988
- Data as of
- 03/2022
- EIN
- 58-6212292
Organization Overview
Harold M Cole Scholarship Trust is located in Charlotte, NC. The organization was established in 1988. 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. Harold M Cole 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 03/2022, Harold M Cole Scholarship Trust generated $31.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (33.7%) each year. All expenses for the organization totaled $75.8k during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Harold M Cole Scholarship Trust has awarded 14 individual grants totaling $120,750. 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
6 STUDENTS RECEIVED SCHOLARSHIPS THAT WERE GRANTED DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Landon Dascombe Foundation Manager | 10 | $0 | |
Frankie Page Jr Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $26,579 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,550 |
| Capital Gain Net Income | $4,550 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $31,129 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $319 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $70 |
| Total operating and administrative expenses | $24,560 |
| Contributions, gifts, grants paid | $51,250 |
| Total expenses and disbursements | $75,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21 |
| 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 | $1,072,212 |
| 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, Harold M Cole Scholarship Trust has awarded $51,250 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BAYNE BENNETT PURPOSE: SCHOLARSHIP | $11,750 |
SAMUEL BLUE PURPOSE: SCHOLARSHIP | $11,750 |
ETHAN BLATZ PURPOSE: SCHOLARSHIP | $11,750 |
NICHOLAS KLUG PURPOSE: SCHOLARSHIP | $10,250 |
MAYA MCDUFFIE PURPOSE: SCHOLARSHIP | $5,250 |
JACOB BOWBLISS PURPOSE: SCHOLARSHIP | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
South Carolina Educational Credit For Exceptional Needs Children Fun Columbia, SC | $1,181,238 | $5,546,279 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |