John U Parolo Educational Tr
- Assets
- $6.9m
- Revenue
- $1.8m
- Investments
- $5.1m
- Employees
- 0
- Location
- Pittsburg, KS
- Founding
- 12/2019
- Data as of
- 12/2021
- EIN
- 83-6852889
Organization Overview
John U Parolo Educational Tr is located in Pittsburg, KS. The organization was established in 2019. 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. John U Parolo Educational Tr 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 12/2021, John U Parolo Educational Tr generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (49.0%) each year.
Since 2020, John U Parolo Educational Tr has awarded 19 individual grants totaling $3,059,422. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS FOR STUDENTS TO EARN A UNDERGRADUATE OR GRADUATE DEGREE IN MEDICINE, NURSING, ENGINEERING, MATH AND SCIENCES.
PROVIDING RESEARCH, ENDOWMENT AND BUILDING PROJECT AWARDS TO INDIVIDUAL STUDENTS AND/OR EDUCATIONAL INSTITUTIONS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William B Wachter Trustee | 1 | $15,000 | |
Tracy Mussa Trustee | 1 | $15,000 | |
Carrie Amershek Trustee | 1 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $38,999 |
| Interest on Savings | $6,085 |
| Dividends & Interest | $33,418 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,759,338 |
| Capital Gain Net Income | $1,759,338 |
| Net ST Capital Gain | $1,512,747 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,837,840 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,360 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13 |
| Total operating and administrative expenses | $61,515 |
| Contributions, gifts, grants paid | $696,571 |
| Total expenses and disbursements | $758,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,763,723 |
| 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 | $15,632 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,870,542 |
| 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, John U Parolo Educational Tr has awarded $695,071 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsburg, KS PURPOSE: TO PROVIDE SCHOLARSHIP FUNDS TO STUDENTS | $400,000 |
Pittsburg, KS PURPOSE: TO PROVIDE SUPPORT FOR THE EDUCATION OF STUDENTS | $250,000 |
Pittsburg, KS PURPOSE: TO PROVIDE SCHOLARSHIP FUNDS TO STUDENTS | $24,000 |
PITTSBURG STATE UNIVERSITY SCHOOL OF NURSING PURPOSE: TO PROVIDE SCHOLARSHIP FUNDS TO STUDENTS | $21,071 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Wichita Center For Graduate Medical Education Inc Wichita, KS | $5,382,351 | $22,892,628 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Western Union Foundation Inc Denver, CO | $4,087,172 | $7,099,166 |
Foundation For Educational Funding Lincoln, NE | $161,530,703 | $9,132,107 |
Prosperity Denver Fund Denver, CO | $29,340,017 | $14,622,453 |
Reisher Family Foundation Lakewood, CO | $521,642,537 | $444,544,338 |
Papillion Lavista Schools Foundation Papillion, NE | $9,484,528 | $7,053,869 |