Merrill I & Grace Hanks Charitable Tr
- Assets
- $3.4m
- Revenue
- $114.5k
- Investments
- $3.3m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 03/2012
- Data as of
- 02/2024
- EIN
- 61-6394207
Organization Overview
Merrill I & Grace Hanks Charitable Tr is located in Mobile, AL. The organization was established in 2012. 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. Merrill I & Grace Hanks Charitable 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 02/2024, Merrill I & Grace Hanks Charitable Tr generated $114.5k 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 (10.5%) each year. All expenses for the organization totaled $265.1k during the year ending 02/2024. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $108,318 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,152 |
| Capital Gain Net Income | $6,152 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $114,470 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $58,096 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,797 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,332 |
| Total operating and administrative expenses | $67,125 |
| Contributions, gifts, grants paid | $197,997 |
| Total expenses and disbursements | $265,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $66,656 |
| 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 | $151 |
| Total assets | $3,350,747 |
| 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, Merrill I & Grace Hanks Charitable Tr has awarded $197,997 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA BAPTIST CHILDREN'S HOME PURPOSE: TO PROVIDE HOUSING FOR UNDERPRIVILIGED CHILDREN IN A CHRISTIAN SETTING. | $179,507 |
UNIVERSITY OF MOBILE PURPOSE: TO PROVIDE SCHOLARSHIPS TO STUDENTS AT THE UNIVERSITY OF MOBILE. | $18,490 |