Ensin Joseph Sherwood Mayo Loan Fund
- Assets
- $5.5m
- Revenue
- $352.8k
- Investments
- $4.8m
- Employees
- 3
- Location
- Bellingham, WA
- Founding
- 02/1959
- Data as of
- 06/2024
- EIN
- 94-6083198
Organization Overview
Ensin Joseph Sherwood Mayo Loan Fund is located in Bellingham, WA. The organization was established in 1959. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2024, Ensin Joseph Sherwood Mayo Loan Fund employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ensin Joseph Sherwood Mayo Loan 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 06/2024, Ensin Joseph Sherwood Mayo Loan Fund generated $352.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $79.9k during the year ending 06/2024. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENSIGN JOSEPH SHERWOOD MAYO DEMOLAY LOAN FUND ORGANIZATION HAS ONLY ONE DIRECT CHARITABLE ACTIVITY. THE ENSIGN JOSEPH SERWOOD MAYO DEMOLAY LOAN FUND IS A PROVIDER OF LOW COST AND INTEREST FREE STUDENT LOANS. FOR THIS FISCAL YEAR IT PROVIDED 10 NEW STUDENT LOANS TOTALING $60,000.00. (SCREEN 9)
THE ENSIGN JOSEPH SHERWOOD MAYO DEMOLAY LOAN FUND ORGANIZATION HAS ONLY ONE DIRECT CHARITABLE ACTIVITY. THE ENSIGN JOSEPH SERWOOD MAYO DEMOLAY LOAN FUND IS A PROVIDER OF LOW COST AND INTEREST FREE STUDENT LOANS. FOR THIS FISCAL YEAR ITS BOOK'S, PROFIT AND LOSS STATEMENT INCURRED TOTAL EXPENSES OF $79,864.09, NOT INCLUDING ITS ISSUANCE OF 10 NEW STUDENT LOANS, RESULTING IN A NET PROFIT OF $272,923.53. (SCREEN 9)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Apcar Trustee | 0.25 | $0 | |
Kenneth Ghiringhelli Treas & Trustee | 16 | $30,876 | |
Jerry Saville Sec & Trustee | 0.25 | $0 | |
Teddy Hammock Trustee | 0.25 | $0 | |
W Scott Walsh Pres & Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,176 |
| Interest on Savings | $7 |
| Dividends & Interest | $274,618 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $76,987 |
| Capital Gain Net Income | $76,987 |
| Net ST Capital Gain | $87 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $352,788 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $30,876 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,204 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $428 |
| Printing and publications | $0 |
| Other expenses | $5,281 |
| Total operating and administrative expenses | $79,864 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $79,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,138 |
| Savings and temporary cash investments | $37,521 |
| Net Accounts receivable | $608,896 |
| 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 | $2,525 |
| Total assets | $5,476,364 |
| 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 |