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← MANCE E & FAY PHILLIPS DRUMMOND ENDOWMENT TRUST

Form 990 for tax year 2024

Filed by MANCE E & FAY PHILLIPS DRUMMOND ENDOWMENT TRUST.

Totals

Total revenue
$214,541
Total expenses
$158,913
Contributions and grants received
$0
Grants paid
$146,122
Program service revenue
$0
Investment income
$214,541
Other revenue
$0
Total assets, end of year
$1,824,132
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,824,132
Program services expenses (Part IX)
$146,122
Management and general expenses
$12,791
Fundraising expenses
$0
Program service expenses (Part III)
$146,122

Program services were 92.0% 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 $49,427 · excluded $49,427

  • 7a · Gross sales of assets other than inventory

    securities $308,000 · other assets $78,444

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

    securities $221,330

  • 7c · Gain or loss

    securities $86,670 · other assets $78,444

  • 7d · Net gain or loss

    total $165,114 · excluded $165,114

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $146,122 · program services $146,122

  • 11c · Fees: accounting

    total $800 · management and general $800

  • 11f · Fees: investment management

    total $7,707 · management and general $7,707

  • 24a · Other expenses: OID INCOME ADJ

    total $2,392 · management and general $2,392

  • 24b · Other expenses: BD PREM NONCOVERED

    total $1,702 · management and general $1,702

  • 24c · Other expenses: TAX EXEMPT ACCRUTED INT P

    total $108 · management and general $108

  • 24d · Other expenses: BOND PREMIUM NON COVERED

    total $82 · management and general $82

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10 · end of year -$6

  • 2 · Savings and temporary cash investments

    beginning of year $65,984 · end of year $6,774

  • 11 · Investments: publicly traded securities

    beginning of year $1,697,468 · end of year $1,812,214

  • 15 · Other assets

    beginning of year $5,150 · end of year $5,150

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,768,612 · end of year $1,824,132

Mission and programs · 2024

Mission

THE TRUST WAS CREATED TO MANAGE AN ENDOWMENT THAT PROVIDES FUNDING TO FOUR CHARITABLE ORGANIZATIONS. DURING THE YEAR, 146,122.67 WAS DISTRIBUTED TO THE FOUR CHARITIES.

  • DISTRIBUTED ENDOWMENT EARNINGS TO FOUR CHARITIES AS INSTRUCTED IN THE TRUST INDENTURE

    Expenses $146,122 · Grants $146,122

As filed on the 2024 return.

Listed in Part VII

  • MIKE CARNAHAN

    TRUSTEE

    Total calculated
    $0

  • THOM MCGUIRE

    TRUSTEE

    Total calculated
    $0

  • CITIZENS BANK & TRUST BY ANDREW

    TRUSTEE

    Total calculated
    $0

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

Provenance

Return type
form_990
Tax year
2024
Filed
13 February 2025
IRS schema version
2024v5.0
Source object
202540729349300829

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