Masonic Foundation Of Utah
- Assets
- $7.0m
- Revenue
- $374.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Salt Lake City, UT
- Founding
- 01/1982
- Data as of
- 12/2021
- EIN
- 87-0261722
Organization Overview
Masonic Foundation Of Utah is located in Salt Lake City, UT. The organization was established in 1982. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Masonic Foundation Of Utah 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, Masonic Foundation Of Utah generated $374.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $328.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION OR PURPOSE IS TO PROVIDE SCHOLARSHIP FUNDS FOR QUALIFYING INDIVIDUALS IN ORDER THAT THEY MAY ATTEND COLLEGE IN THE UTAH AREA GENERALLY. IN ADDITION, THE ORGANIZATION MAKES GRANTS TO CHARITABLE ORGANIZATIONS THAT PROVIDE FOR THE PUBLIC WELFARE AND MEDICAL RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING OTHER CHARITABLE ORGANIZATIONS - THE ORGANIZATION AWARDED GRANTS TO 77 CHARITABLE ORGANIZATIONS DURING 2021.
SCHOLARSHIPS - DURING 2021, THE ORGANIZATION AWARDED SCHOLARSHIPS TO 55 INDIVIDUALS AT COLLEGE AND OTHER HIGHER EDUCATION INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorenzo E Tibbitts Secretary/tr | OfficerTrustee | 10 | $14,337 |
Ridgely H Gilmour Vice Chairma | OfficerTrustee | 2 | $0 |
G Keith Odendahl Chairman | OfficerTrustee | 2 | $0 |
Jason L Allred Director | Trustee | 2 | $0 |
Travis Mcguire Director | Trustee | 2 | $0 |
Frank C Baker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,603 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,603 |
| Total Program Service Revenue | $0 |
| Investment income | $159,484 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $210,810 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $374,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $184,145 |
| Grants and other assistance to domestic individuals. | $121,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $14,337 |
| Compensation of current officers, directors, key employees. | $14,337 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,097 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $957 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,143 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,260 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,000 |
| All other expenses | $0 |
| Total functional expenses | $328,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97 |
| Savings and temporary cash investments | $378,478 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,228 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,605,739 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,986,542 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $6,050,441 |
| Net assets with donor restrictions | $936,101 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,986,542 |
Grants Awarded
Over the last fiscal year, Masonic Foundation Of Utah has awarded $53,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SCOTTISH RITE FOUNDATION PURPOSE: Children's language/learning progra | $35,000 |
MASONIC SERVICE ASSN PURPOSE: Hurricane relief | $9,000 |
UT MASONIC LIBRARY & MUSEUM F PURPOSE: Restoration and preservation | $9,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Masonic Foundation Of Utah has recieved totaling $67.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $67 |
Endowment Analysis
| Beg. Balance | $850,326 |
| Earnings | $99,462 |
| Grants | $13,686 |
| Ending Balance | $936,101 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Classical Academy Colorado Springs, CO | $97,154,437 | $39,391,484 |
Spectrum Healthcare Group Inc Cottonwood, AZ | $17,862,058 | $29,292,227 |
University Studies Abroad Consortium Reno, NV | $41,233,258 | $28,044,577 |
Arizona Agribusiness & Equine Center Phoenix, AZ | $41,363,992 | $18,352,142 |
Northwest Christian School Phoenix, AZ | $14,587,608 | $15,711,697 |
Fit Kids Inc Scottsdale, AZ | $27,357,951 | $13,904,484 |
Center For Academic Success Sierra Vista, AZ | $18,278,347 | $12,993,576 |
Denver Scholarship Foundation Denver, CO | $33,817,323 | $13,999,484 |
Bluum Inc Boise, ID | $2,040,780 | $9,996,338 |
Shonto Governing Board Of Education Inc Shonto, AZ | $17,193,292 | $18,993,066 |
Early Light Academy South Jordan, UT | $20,669,504 | $8,816,501 |
Riverstone Community School Inc Boise, ID | $14,062,968 | $7,409,648 |