Mgm Charitable Scholarship Tr
- Assets
- $563.1k
- Revenue
- $8.4k
- Investments
- $101.4k
- Employees
- 0
- Location
- Paducah, KY
- Founding
- 10/2001
- Data as of
- 11/2023
- EIN
- 61-6264013
Organization Overview
Mgm Charitable Scholarship Tr is located in Paducah, KY. The organization was established in 2001. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mgm Charitable Scholarship 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 11/2023, Mgm Charitable Scholarship Tr generated $8.4k 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 (33.3%) each year. All expenses for the organization totaled $60.2k during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Mgm Charitable Scholarship Tr has awarded 448 individual grants totaling $1,563,857. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED EDUCATIONAL SCHOLARSHIPS FOR 21 STUDENTS ATTENDING POST SECONDARY EDUCATIONAL INSTITUTIONS DURING THE TAX YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laxmaiah Manchikanti MD Donor Trustee | 0 | $0 | |
Murali Manchikanti Trustee | 0 | $0 | |
Ram Manchikanti Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000 |
| Interest on Savings | $873 |
| Dividends & Interest | $1,936 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $601 |
| Capital Gain Net Income | $601 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,410 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $106 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,943 |
| Total operating and administrative expenses | $23,322 |
| Contributions, gifts, grants paid | $36,896 |
| Total expenses and disbursements | $60,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,127 |
| 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 | $101,365 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $271,599 |
| Total assets | $563,091 |
| 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, Mgm Charitable Scholarship Tr has awarded $36,896 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF LOUISVILLE PURPOSE: EDUCATIONAL SCHOLARSHIP FOR KAAMRAAN IQBAL | $1,000 |
NORTHWESTERN UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP FOR MADELINE KERR | $1,000 |
MURRAY STATE UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP FOR ANSLEY GOLIGHTLY | $500 |
MURRAY STATE UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP FOR ALAYA MURPHY | $500 |
UNIVERSITY OF MEMPHIS PURPOSE: EDUCATIONAL SCHOLARSHIP FOR GRACE BAKEHOUSE | $500 |
MISSISSIPPI STATE UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP FOR BAILEY BOWLAND | $500 |