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← INDEPENDENCE CHARITABLE TRUST

Form 990 for tax year 2024

Filed by INDEPENDENCE CHARITABLE TRUST.

Totals

Total revenue
$738,766
Total expenses
$202,919
Contributions and grants received
$40,000
Grants paid
$194,000
Program service revenue
$0
Investment income
$245,591
Other revenue
$453,175
Total assets, end of year
$6,212,179
Total liabilities, end of year
$48,500
Net assets or fund balances, end of year
$6,163,679
Program services expenses (Part IX)
$194,000
Management and general expenses
$8,919
Fundraising expenses
$0
Program service expenses (Part III)
$194,000

Program services were 95.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $40,000

  • 3 · Investment income

    total $112,624 · excluded $112,624

  • 7a · Gross sales of assets other than inventory

    securities $831,545

  • 7b · Less cost or other basis and sales expenses

    securities $698,578

  • 7c · Gain or loss

    securities $132,967

  • 7d · Net gain or loss

    total $132,967 · excluded $132,967

  • 11a · Other revenue: EQUITY IN EARNINGS OF

    total $453,175 · related or exempt $453,175

  • 11e · Other revenue, total

    $453,175

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $194,000 · program services $194,000

  • 11f · Fees: investment management

    total $8,919 · management and general $8,919

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $52,146 · end of year $10,256

  • 11 · Investments: publicly traded securities

    beginning of year $4,113,756 · end of year $4,480,570

  • 12 · Investments: other securities

    beginning of year $1,268,177 · end of year $1,721,353

  • 25 · Other liabilities

    beginning of year $51,888 · end of year $48,500

  • 27 · Net assets without donor restrictions

    beginning of year $5,382,191 · end of year $6,163,679

Mission and programs · 2024

Mission

RECEIVE DONATIONS FOR PURPOSE OF MAKING GRANTS TO 501(C)(3) ORGANIZATIONS.

  • GRANT TO KANSAS LEGAL SERVICES, INC. - A 501(C)(3) ORGANIZATION SERVING LOW INCOME PERSONS' LEGAL NEEDS.

    Expenses $194,000 · Grants $194,000

As filed on the 2024 return.

Listed in Part VII

  • Mel J Sauer Jr

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    0.25

  • Roger L McCollister

    MIDLAND BOARD CHAIR

    Total calculated
    $48,000
    From this org
    $0
    From related orgs
    $48,000
    Other
    $0
    Hours/week
    0.3 + 8 related

  • Marilyn M Harp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Steve Fredrickson

    MIDLAND CFO

    Total calculated
    $159,018
    From this org
    $0
    From related orgs
    $146,068
    Other
    $12,950
    Hours/week
    0.6 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,068 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,950 related
    Filer's total
    $0 + $159,018 related

  • Mike Lennen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Donald A Johnston

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25 + 0.3 related

  • Jacob Hodge

    MIDLAND PRESIDENT/CEO

    Total calculated
    $275,157
    From this org
    $0
    From related orgs
    $274,098
    Other
    $1,059
    Hours/week
    0.3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,000 related
    Bonus
    $0
    Other
    $0 + $9,098 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,059 related
    Filer's total
    $0 + $275,157 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MIDLAND PROFESSIONAL SERVICES INC

    C · SERVICES TO HOSPITALS · KS · 100% owned · share of income $453,177 · share of assets $1,721,353 · controlled entity

    Directly controlled by INDEPENDENCE CHARITABLE TRUST

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202512969349302256

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