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← AMERICAN LEGION SEPTEMBER 11 MEMORIAL SCHOLARSHIP TR FUND

Form 990 for tax year 2022

Filed by AMERICAN LEGION SEPTEMBER 11 MEMORIAL SCHOLARSHIP TR FUND.

Totals

Total revenue
$1,660,609
Total expenses
$621,934
Contributions and grants received
$1,407,192
Grants paid
$562,622
Program service revenue
$0
Investment income
$253,417
Other revenue
$0
Total assets, end of year
$16,005,785
Total liabilities, end of year
$222,780
Net assets or fund balances, end of year
$15,783,005
Program services expenses (Part IX)
$562,622
Management and general expenses
$59,312
Fundraising expenses
$0
Program service expenses (Part III)
$562,622

Program services were 90.5% 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

    $79,652

  • 1f · All other contributions, gifts and grants

    $1,327,540

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $446,713 · excluded $446,713

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $5,052,961

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

    securities $5,246,257

  • 7c · Gain or loss

    securities -$193,296 · other assets $0

  • 7d · Net gain or loss

    total -$193,296 · excluded -$193,296

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $562,622 · program services $562,622

  • 11f · Fees: investment management

    total $59,312 · management and general $59,312

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $17,726,661 · end of year $15,617,404

  • 4 · Accounts receivable

    end of year $388,381

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $758,102 · end of year $222,780

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $16,968,559 · end of year $15,783,005

Mission and programs · 2022

Mission

The September 11th Memorial Scholarship Trust provides higher education funds for any qualified applicant who lost a parent to death while serving in the active-duty military since the terrorist attacks of Sept. 11, 2001, and those who were disabled with a 50% or more rating.

  • Scholarships paid to assist children of military personnel killed in action since September 11, 2001 in obtaining college education.

    Expenses $562,622 · Grants $562,622

As filed on the 2022 return.

Listed in Part VII

  • Gaither M Keener Jr

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Shawn T Long

    Treasurer

    Total calculated
    $284,270
    From this org
    $0
    From related orgs
    $211,804
    Other
    $72,466
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $201,804 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $37,880 related
    Nontaxable benefits
    $0 + $34,586 related
    Filer's total
    $0 + $284,270 related

  • Vincent J Troiola

    Chairman

    Total calculated
    $39,694
    From this org
    $0
    From related orgs
    $39,694
    Other
    $0
    Hours/week
    1 + 40 related

  • Dan Wiley

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Daniel S Wheeler

    Trustee

    Total calculated
    $479,638
    From this org
    $0
    From related orgs
    $366,075
    Other
    $113,563
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $292,536 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $43,539 related
    Deferred
    $0 + $77,408 related
    Nontaxable benefits
    $0 + $36,155 related
    Filer's total
    $0 + $479,638 related

  • John D Monahan

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 2 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING INTERESTED PERSONS PARTICIPATED IN OR RECEIVED PAYMENT FROM SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS AS DESCRIBED IN IRC SECTION 457(F). PAYOUTS were RECEIVED FROM the plan for the following individuals: Daniel S Wheeler - $43,539 CONTRIBUTIONS WERE MADE TO THE PLAN FOR THE FOLLOWING INDIVIDUALS: Daniel S Wheeler - $66,979 SHAWN T. LONG - $30,647

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2023
IRS schema version
2022v5.0
Source object
202301339349300925

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