Ida Mae Oldham Trust
- Assets
- $60.7m
- Revenue
- $23.4m
- Investments
- $32.8m
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 04/1983
- Data as of
- 04/2023
- EIN
- 75-0993500
Organization Overview
Ida Mae Oldham Trust is located in Lubbock, TX. The organization was established in 1983. 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.
For the year ending 04/2023, Ida Mae Oldham Trust generated $23.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 38.8% each year . All expenses for the organization totaled $3.9m during the year ending 04/2023. While expenses have increased by 18.7% per year over the past 3 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
IDA MAE OLDHAM TRUST WAS ESTABLISHED IN 1963 TO SUPPORT THE SHERICK MEMORIAL HOME. THE HOME PROVIDES PHYSICAL CARE, SHELTER, SAFETY, SECURITY, AND SOCIAL DEVELPMENT FOR ELDERLY LADIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Henry Co-Trustee | 25 | $275,952 | |
Joreen Christian Co-Trustee | 25 | $275,952 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $504,173 |
| Dividends & Interest | $318,238 |
| Net Rental Income | $160,265 |
| Net Gain on Sale of Assets | $524,377 |
| Capital Gain Net Income | $524,377 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21,879,851 |
| Total Revenue | $23,414,293 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $551,904 |
| Other employee salaries and wages | $746,500 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,279,664 |
| Depreciation | $302,602 |
| Occupancy | $108,030 |
| Travel, conferences, and meetings | $1,310 |
| Printing and publications | $24,681 |
| Other expenses | $794,718 |
| Total operating and administrative expenses | $3,853,416 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $3,853,416 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,763 |
| Savings and temporary cash investments | $25,829,933 |
| 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 | $160,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,872,729 |
| Net Land, buildings, and equipment | $1,821,518 |
| Other assets | $0 |
| Total assets | $60,738,024 |
| Accounts payable and accrued expenses | $51 |
| 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 | $51 |