Lee W Schmidt Scholarship Trust Fund
- Assets
- $524.5k
- Revenue
- $38.0k
- Investments
- $523.4k
- Employees
- 0
- Location
- Twin Falls, ID
- Founding
- 11/1998
- Data as of
- 12/2023
- EIN
- 82-0497599
Organization Overview
Lee W Schmidt Scholarship Trust Fund is located in Twin Falls, ID. 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. Lee W Schmidt Scholarship Trust Fund 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, Lee W Schmidt Scholarship Trust Fund generated $38.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $36.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Strolberg Trustee | 0 | $5,000 | |
Janet Coonts Trustee | 0 | $325 | |
Dan Shoemaker Trustee | 0 | $325 | |
Mel Henry Trustee | 0 | $325 | |
Saundra Strolberg Trustee | 0 | $325 | |
Kathleen Shewmaker Trustee | 0 | $325 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $5,281 |
| Dividends & Interest | $21,632 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $11,038 |
| Capital Gain Net Income | $11,038 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $37,951 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,625 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $750 |
| Total operating and administrative expenses | $8,675 |
| Contributions, gifts, grants paid | $28,000 |
| Total expenses and disbursements | $36,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,084 |
| Savings and temporary cash investments | $0 |
| 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 | $523,398 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $524,482 |
| 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 |