Virginia Mayo Ownby Memorial Trust
- Assets
- $3.1m
- Revenue
- $191.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 10/1993
- Data as of
- 12/2022
- EIN
- 73-6214326
Organization Overview
Virginia Mayo Ownby Memorial Trust is located in Tulsa, OK. The organization was established in 1993. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Mayo Ownby Memorial 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 12/2022, Virginia Mayo Ownby Memorial Trust generated $191.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $169.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Virginia Mayo Ownby Memorial Trust has awarded 16 individual grants totaling $768,316. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS CREATED BY TRUST ESTABLISHED BY VIRGINIA MAYO OWNBY. THE TRUST INSTRUMENT DIRECTS THAT THE FUNDS BE INVESTED, AND THAT THE INCOME FROM SUCH INVESTMENTS BE DISTRIBUTED SEMI-ANNUALLY TO THE UNIVERSITY OF TULSA TO FUND SCHOLARSHIPS AS DESCRIBED IN PART III, LINE 4A.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNIVERSITY OF TULSA FOR THE CASS ALLEN MAYO SR SCHOLARSHIP FUND. FUND TO BE USED FOR SCHOLARSHIPS FOR BUSINESS STUDENTS.UNIVERSITY OF TULSA FOR THE HUGH OWNBY SCHOLARSHIP FUND. FUND TO BE USED FOR SCHOLARSHIPS FOR LAW STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trust Co Of Ok M Taylor Vp Co-Trustee | 0 | $0 | |
Tu Brad Carson President Co-Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $80,425 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110,149 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $191,313 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $143,038 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,398 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,515 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $169,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,471 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,018,715 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,133,186 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,133,186 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,133,186 |
Grants Awarded
Over the last fiscal year, Virginia Mayo Ownby Memorial Trust has awarded $143,038 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF TULSA - SCHOOL OF BUS | | | $71,519 |
UNIV OF TULSA - SCHOOL OF LAW | | | $71,519 |