Patel Family Charitable Trust
- Assets
- $106.9k
- Revenue
- $15.8k
- Investments
- $104.7k
- Employees
- 0
- Location
- Vernon, TX
- Founding
- 06/1998
- Data as of
- 12/2022
- EIN
- 75-2743357
Organization Overview
Patel Family Charitable Trust is located in Vernon, TX. The organization was established in 1998. 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. Patel Family Charitable 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, Patel Family Charitable Trust generated $15.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.2% each year . All expenses for the organization totaled $8.2k during the year ending 12/2022. 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
PROVISION OF FINANCIAL ASSISTANCE FOR HIGHER EDUCATION PURPOSES TO FIVE STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E Smith Chairman/trustee | 0 | $0 | |
Jonathan Whitsitt Member Selection Committee | 0 | $0 | |
Tommy Cummings Member Selection Committee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,113 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,708 |
| Capital Gain Net Income | $3,708 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,821 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $473 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $2,437 |
| Contributions, gifts, grants paid | $5,787 |
| Total expenses and disbursements | $8,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $469 |
| 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 | $1,732 |
| Total assets | $106,886 |
| 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, Patel Family Charitable Trust has awarded $5,787 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ALYSSA CHIEV PURPOSE: HIGHER EDUCATION | $1,185 |
CAROLINE TAYLOR PURPOSE: HIGHER EDUCATION | $1,185 |
RONNA DENNIS PURPOSE: HIGHER EDUCATION | $1,185 |
MACKENZE TERRY PURPOSE: HIGHER EDUCATION | $1,047 |
REINA QUILODRAM PURPOSE: HIGHER EDUCATION | $1,185 |