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← MABEL E SHERMAN EDUCATIONAL FUND

Form 990 for tax year 2023

Filed by MABEL E SHERMAN EDUCATIONAL FUND.

Totals

Total revenue
$304,178
Total expenses
$218,570
Contributions and grants received
$0
Grants paid
$158,377
Program service revenue
$0
Investment income
$304,178
Other revenue
$0
Total assets, end of year
$7,781,912
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$7,781,912
Program services expenses (Part IX)
$158,377
Management and general expenses
$60,193
Fundraising expenses
$0
Program service expenses (Part III)
$158,377

Program services were 72.5% 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.

  • 3 · Investment income

    total $213,698 · excluded $213,698

  • 7a · Gross sales of assets other than inventory

    securities $1,186,062

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

    securities $1,095,582

  • 7c · Gain or loss

    securities $90,480

  • 7d · Net gain or loss

    total $90,480 · excluded $90,480

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $158,377 · program services $158,377

  • 11b · Fees: legal

    total $330 · management and general $330

  • 11c · Fees: accounting

    total $1,400 · management and general $1,400

  • 11f · Fees: investment management

    total $54 · management and general $54

  • 11g · Fees: other

    total $56,026 · management and general $56,026

  • 20 · Interest

    total $2,383 · management and general $2,383

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $153,630 · end of year $137,564

  • 7 · Other notes and loans receivable

    beginning of year $2,292,598 · end of year $2,292,598

  • 11 · Investments: publicly traded securities

    beginning of year $5,246,076 · end of year $5,347,750

  • 15 · Other assets

    beginning of year $4,000 · end of year $4,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,696,304 · end of year $7,781,912

Mission and programs · 2023

Mission

TO PROVIDE FOR STUDENT LOANS, SCHOLARSHIPS AND GRANTS FOR INDIVIDUALS ATTENDING MORNINGSIDE COLLEGE, BUENA VISTA UNIVERSITY AND CORNELL COLLEGE.

Activities or mission (Part I)

TO PROVIDE FOR STUDENT LOANS, SCHOLARSHIPS AND GRANTS FOR STUDENTS ATTENDING MORNINGSIDE COLLEGE, BUENA VISTA UNIVERSITY AND CORNELL COLLEGE.

  • DISTRIBUTED FUNDS TO MORNINGSIDE COLLEGE, BUENA VISTA UNIVERSITY AND CORNELL COLLEGE FOR ADVANCEMENT OF STUDENT LOANS.

    Expenses $158,377 · Grants $158,377

As filed on the 2023 return.

Listed in Part VII

  • CITIZENS FIRST NATIONAL BANK

    TRUSTEE

    Total calculated
    $56,016
    From this org
    $0
    From related orgs
    $0
    Other
    $56,016
    Hours/week
    1

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
2023
Filed
19 August 2024
IRS schema version
2023v5.0
Source object
202402329349301325

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