Allyrae Wallace Educational Tr
- Assets
- $1.8m
- Revenue
- $333.7k
- Investments
- $71.7k
- Employees
- 0
- Location
- Camden, AL
- Founding
- 12/1996
- Data as of
- 12/2023
- EIN
- 63-6192432
Organization Overview
Allyrae Wallace Educational Tr is located in Camden, AL. The organization was established in 1996. 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. Allyrae Wallace Educational 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 12/2023, Allyrae Wallace Educational Tr generated $333.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $358.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Allyrae Wallace Educational Tr has awarded 367 individual grants totaling $1,833,171. 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 AWARDS CASH SCHOLARSHIPS TO WILCOX COUNTY RESIDENTS TO ATTEND COLLEGE OR VOCATIONAL SCHOOLS. THE FOUNDATION AWARDED OVER 350 SCHOLARSHIPS THIS YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rj Browder Trustee | 0 | $20,000 | |
John Strother Trustee | 0 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11,631 |
| Dividends & Interest | $0 |
| Net Rental Income | $39,000 |
| Net Gain on Sale of Assets | $283,037 |
| Capital Gain Net Income | $283,037 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $333,668 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,000 |
| Other employee salaries and wages | $2,845 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24,939 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $77,856 |
| Total operating and administrative expenses | $155,860 |
| Contributions, gifts, grants paid | $202,925 |
| Total expenses and disbursements | $358,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $369,378 |
| Savings and temporary cash investments | $427,794 |
| 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 | $980,696 |
| Other assets | $0 |
| Total assets | $1,849,596 |
| 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, Allyrae Wallace Educational Tr has awarded $202,925 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA A M PURPOSE: EDUCATIONAL SCHOLARSHIP | $15,300 |
ALABAMA STATE UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $4,800 |
AUBURN UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $43,200 |
COASTAL ALABAMA COMMUNITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $13,900 |
MILES COLLEGE PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,350 |
JACKSONVILLE STATE UNIVERSITY PURPOSE: EDUCATIONAL SCHOLARSHIP | $3,350 |