Franklin E & Martha Covington King Memoria Tr
- Assets
- $297.9k
- Revenue
- $17.2k
- Investments
- $291.2k
- Employees
- 0
- Location
- Greenwood, SC
- Founding
- 03/2019
- Data as of
- 06/2024
- EIN
- 58-6347523
Organization Overview
Franklin E & Martha Covington King Memoria Tr is located in Greenwood, SC. The organization was established in 2019. 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. Franklin E & Martha Covington King Memoria 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 06/2024, Franklin E & Martha Covington King Memoria Tr generated $17.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $23.3k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 9 years. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
The Lander Foundation Trustee | 0 | $0 | |
Margaret B Welch Trustee | 0 | $0 | |
James Welch Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,062 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,167 |
| Capital Gain Net Income | $8,167 |
| Net ST Capital Gain | $2,533 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,229 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,294 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $6,806 |
| Contributions, gifts, grants paid | $16,473 |
| Total expenses and disbursements | $23,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,696 |
| 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 | $297,933 |
| 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 |