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Nonprofiteer
← ALTON N SCOTT CHARITABLE TR

Form 990 for tax year 2022

Filed by ALTON N SCOTT CHARITABLE TR.

Totals

Total revenue
$241,788
Total expenses
$761,219
Contributions and grants received
$0
Grants paid
$647,052
Program service revenue
$0
Investment income
$202,936
Other revenue
$38,852
Total assets, end of year
$8,622,428
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$8,622,428
Program services expenses (Part IX)
$647,052
Management and general expenses
$114,167
Fundraising expenses
$0
Program service expenses (Part III)
$647,052

Program services were 85.0% 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.

  • 3 · Investment income

    total $149,273 · excluded $149,273

  • 5 · Royalties

    total $29,710 · excluded $29,710

  • 6a · Gross rents

    real property $13,565

  • 6b · Less rental expenses

    real property $4,423

  • 6c · Rental income or loss

    real property $9,142

  • 6d · Net rental income or loss

    total $9,142 · excluded $9,142

  • 7a · Gross sales of assets other than inventory

    securities $2,612,376

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

    securities $2,558,713

  • 7c · Gain or loss

    securities $53,663

  • 7d · Net gain or loss

    total $53,663 · excluded $53,663

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $647,052 · program services $647,052

  • 5 · Compensation of officers, directors and key employees

    total $80,220 · management and general $80,220

  • 11c · Fees: accounting

    total $6,350 · management and general $6,350

  • 11f · Fees: investment management

    total $1,306 · management and general $1,306

  • 24a · Other expenses: LAND & TIMBERLAND EXPEN

    total $15,840 · management and general $15,840

  • 24b · Other expenses: OIL & GAS ROYALTY EXPEN

    total $4,015 · management and general $4,015

  • 24c · Other expenses: INVESTMENT EXPENSES

    total $3,303 · management and general $3,303

  • 24d · Other expenses: FOREIGN TAXES

    total $2,536 · management and general $2,536

  • 24e · All other expenses

    total $597 · management and general $597

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $514,203 · end of year $180,694

  • 10a · Land, buildings and equipment: cost or other basis

    $3,210,857

  • 10c · Land, buildings and equipment, net

    beginning of year $3,201,165 · end of year $3,210,857

  • 11 · Investments: publicly traded securities

    beginning of year $5,426,078 · end of year $5,229,374

  • 15 · Other assets

    beginning of year $1,503 · end of year $1,503

  • 29 · Capital stock, trust principal or current funds

    beginning of year $9,142,949 · end of year $8,622,428

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

MANAGEMENT OF INVESTMENTS, REMIT THE NET INCOME TO THE UNIVERSITY OF ALABAMA SCHOOL OF ENGINEERING FOR PROMOTION, ENCOURAGEMENT AND FUNDING OF RESEARCH PROJECTS.

  • THE TRUST'S ONLY FUNCTION IS THE MANAGEMENT OF INVESTMENTS AND THE REMITTANCE OF THE INCOME TO THE SOLE BENEFICIARY, THE UNIVERSITY OF ALABAMA SCHOOL OF ENGINEERING, FOR THE PROMOTION, ENCOURAGEMENT AND FUNDING OF RESEARCH PROJECTS.

    Expenses $647,052 · Grants $647,052

As filed on the 2022 return.

Listed in Part VII

  • Regions Bank Trust Department

    TRUSTEE

    Total calculated
    $80,220
    From this org
    $80,220
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202303149349302480

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