Merrill I & Grace Hanks Charitable Tr
- Assets
- $3.5m
- Revenue
- $170.6k
- Investments
- $3.5m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 03/2012
- Data as of
- 02/2022
- 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 02/2022, Merrill I & Grace Hanks Charitable Tr generated $170.6k 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 (15.8%) each year. All expenses for the organization totaled $276.2k during the year ending 02/2022. 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 | $102,651 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $67,263 |
| Capital Gain Net Income | $67,263 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $666 |
| Total Revenue | $170,580 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,473 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,814 |
| Total operating and administrative expenses | $65,487 |
| Contributions, gifts, grants paid | $210,756 |
| Total expenses and disbursements | $276,243 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $73,255 |
| 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 | $3,535,791 |
| 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 $210,756 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA BAPTIST CHILDREN'S HOME PURPOSE: TO PROVIDE HOUSING FOR UNDERPRIVILIGED CHILDREN IN A CHRISTIAN SETTING. | $194,000 |
Mobile, AL PURPOSE: TO PROVIDE SCHOLARSHIPS TO STUDENTS AT THE UNIVERSITY OF MOBILE. | $16,756 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |