Gail C@link Education Trust
- Assets
- $1.0m
- Revenue
- $205.6k
- Investments
- $869.3k
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 81-6158233
Organization Overview
Gail C@link Education Trust is located in Chattanooga, TN. The organization was established in 2016. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, 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. Gail C@link Education 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, Gail C@link Education Trust generated $205.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 39.2% each year . All expenses for the organization totaled $70.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Gail C@link Education Trust has awarded 38 individual grants totaling $259,319. 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
TRUST FUND TO PROVIDE SCHOLARSHIPS TO LOWER INCOME STUDENTS IN HAMILTON COUNTY TN. TRUSTEE APPOINTMENT BY WILL OF DECEDENT. THREE DIRECTORS APPOINTED BY MAYORS OF CITY OF CHATTANOOGA AND HAMILTON COUNTY AND COUNTY SCHOOL SUPERINTENDENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond James Former Trustee | 10 | $10,145 | |
Shawn Kurrelmeir-Lee Trustee & Director | 4 | $0 | |
Deborah Maddox Director | 4 | $0 | |
Patricia Russell Director | 4 | $0 | |
Principal Securities Network Successor Trustee | 10 | $3,248 | |
Sandy Dittus Fund Manager & Trustee Rep | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $191 |
| Dividends & Interest | $30,073 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $175,347 |
| Capital Gain Net Income | $175,347 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $205,611 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $13,393 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $737 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $16,930 |
| Contributions, gifts, grants paid | $54,000 |
| Total expenses and disbursements | $70,930 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $166,119 |
| 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 | $98,926 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,035,407 |
| 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, Gail C@link Education Trust has awarded $54,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA A&M UNIVERSITY PURPOSE: STUDENT HIGHER EDUCATION SCHOLARSHIPS | $3,000 |
AUSTIN PEAY STATE UNIVERSITY PURPOSE: STUDENT HIGHER EDUCATION SCHOLARSHIPS | $6,000 |
TENNESSEE TECH UNIVERSITY PURPOSE: STUDENT HIGHER EDUCATION SCHOLARSHIPS | $6,000 |
UNIVERSITY OF ALABAMA IN HUNTSVILLE PURPOSE: STUDENT HIGHER EDUCATION SCHOLARSHIPS | $3,000 |
EAST TENNESSEE STATE UNIVERSITY PURPOSE: STUDENT HIGHER EDUCATION SCHOLARSHIPS | $12,000 |
UNIVERSITY OF MEMPHIS PURPOSE: STUDENT HIGHER EDUCATION SCHOLARSHIPS | $6,000 |