G H Weems Educational Fund
- Assets
- $513.9k
- Revenue
- $11.7k
- Investments
- $212.4k
- Employees
- 0
- Location
- Waverly, TN
- Founding
- 09/1956
- Data as of
- 12/2022
- EIN
- 62-6047271
Organization Overview
G H Weems Educational Fund is located in Waverly, TN. The organization was established in 1956. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. G H Weems Educational Fund 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 12/2022, G H Weems Educational Fund generated $11.7k 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 (8.1%) each year. All expenses for the organization totaled $26.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (19.9%) per year over the past 4 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS - POST SECONDARY EDUCATION
GRANTS TO QUALIFYING EDUCATIONA, HISTORICAL AND CULTURAL AGENCIES
SUPPORT OF QUALIFYING COMMUNITY PUBLIC ACTIVITIES AND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mildred Smith Sec/treas | 0 | $0 | |
Jane Dillard Trustee | 0 | $0 | |
Connie Weems Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $950 |
| Interest on Savings | $11 |
| Dividends & Interest | $6,763 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,029 |
| Capital Gain Net Income | $4,229 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$95 |
| Total Revenue | $11,658 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $7,200 |
| Pension plans, employee benefits | $542 |
| Interest | $0 |
| Taxes | $2,027 |
| Depreciation | $1,699 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,237 |
| Total operating and administrative expenses | $19,705 |
| Contributions, gifts, grants paid | $7,000 |
| Total expenses and disbursements | $26,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,345 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $42,120 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $101,518 |
| 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 | $96,440 |
| Other assets | $0 |
| Total assets | $513,851 |
| 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, G H Weems Educational Fund has awarded $7,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WAVERLY CENTRAL HIGH SCHOOL PURPOSE: GRANTS FOR TUTORING | $2,500 |
INDIVIDUAL SCHOLARSHIPS PURPOSE: SCHOLARSHIPS | $4,500 |