Jay & Corrine Tuthill Memorial Scholarship Trust
- Assets
- $1.1m
- Revenue
- $51.3k
- Investments
- $1.1m
- Employees
- 0
- Location
- Hayden, AL
- Founding
- 04/1986
- Data as of
- 12/2023
- EIN
- 63-6138369
Organization Overview
Jay & Corrine Tuthill Memorial Scholarship Trust is located in Hayden, AL. The organization was established in 1986. 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. Jay & Corrine Tuthill Memorial Scholarship Trust 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 12/2023, Jay & Corrine Tuthill Memorial Scholarship Trust generated $51.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $57.9k during the year ending 12/2023. While expenses have increased by 8.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jay & Corrine Tuthill Memorial Scholarship Trust has awarded 91 individual grants totaling $222,201. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Johnson VP | 0 | $0 | |
Chester Thomas Secretary | 0 | $0 | |
Derek Pigg President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $144 |
| Dividends & Interest | $48,950 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,206 |
| Capital Gain Net Income | $2,206 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $51,300 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $5,128 |
| Total operating and administrative expenses | $5,928 |
| Contributions, gifts, grants paid | $52,000 |
| Total expenses and disbursements | $57,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,618 |
| 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 | $1,149,083 |
| Accounts payable and accrued expenses | $11,500 |
| 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 | $11,500 |
Grants Awarded
Over the last fiscal year, Jay & Corrine Tuthill Memorial Scholarship Trust has awarded $52,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
CUMBERLAND UNIVERSITY PURPOSE: EDUCATIONAL | $2,000 |
FAULKNER UNIVERSITY PURPOSE: EDUCATIONAL | $14,500 |
FRIENDS OF LOCUST FORK PURPOSE: EDUCATIONAL | $1,000 |
HERITAGE CHRISTIAN UNIVERSITY PURPOSE: EDUCATIONAL | $5,000 |
UAH PURPOSE: EDUCATIONAL | $6,000 |
UNIVERSITY OF NORTH ALABAMA PURPOSE: EDUCATIONAL | $7,500 |