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← CLARENCE & GENEVIVE SWALLEN MISSIONARY ENDOWED SCHOLARSHIP

Form 990 for tax year 2023

Filed by CLARENCE & GENEVIVE SWALLEN MISSIONARY ENDOWED SCHOLARSHIP.

Totals

Total revenue
$112,956
Total expenses
$169,040
Contributions and grants received
$0
Grants paid
$138,553
Program service revenue
$0
Investment income
$112,950
Other revenue
$6
Total assets, end of year
$2,518,677
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,518,677
Program services expenses (Part IX)
$138,553
Management and general expenses
$30,487
Fundraising expenses
$0
Program service expenses (Part III)
$138,553

Program services were 82.0% 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 $78,130 · excluded $78,130

  • 7a · Gross sales of assets other than inventory

    securities $460,150

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

    securities $425,330

  • 7c · Gain or loss

    securities $34,820

  • 7d · Net gain or loss

    total $34,820 · excluded $34,820

  • 11d · All other revenue

    total $6 · excluded $6

  • 11e · Other revenue, total

    $6

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $138,553 · program services $138,553

  • 5 · Compensation of officers, directors and key employees

    total $28,585 · management and general $28,585

  • 11c · Fees: accounting

    total $1,050 · management and general $1,050

  • 24e · All other expenses

    total $852 · management and general $852

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $137,158 · end of year $135,228

  • 11 · Investments: publicly traded securities

    beginning of year $2,437,706 · end of year $2,383,449

  • 29 · Capital stock, trust principal or current funds

    beginning of year $2,574,864 · end of year $2,518,677

Mission and programs · 2023

Mission

GRANTS ARE MADE ACCORDING TO TRUST AGREEMENT DATED OCTOBER 22, 1987. KEYBANK, AS TRUSTEE MAKES DISTRIBUTIONS AS FOLLOWS: 33.333% TO MALONE COLLEGE, 33.333% TO GOSHEN COLLEGE AND 33.334% TO ANDREWS UNIVERSITY. UNDER THE OHIO INSTITUTIONAL TRUST FUNDS ACT OF 1999, THE BENEFICIARIES HAVE CHOSEN TO RECEIVE THE MAXIMUM OF INCOME BASED ON THE GREATER OF 5% OF AFV OR TRADITIONAL INCOME. KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF EACH BENEFICIARY ORGANIZATION IN THE ATTAINMENT OF ITS MISSION. PLEASE NOTE THE CHARITIES HAVE A RIGHT TO REMOVE THE TRUSTEE, AND THE TRUSTEE HAS THE AUTHORITY TO AMEND THE DOCUMENT TO INSURE THE CONTINUATION TO QUALIFY AS A 509(A)3.

  • GRANTS MADE TO MALONE COLLEGE TO BE USED FOR SCHOLARSHIPS

    Expenses $46,184 · Grants $46,184

  • GRANTS MADE TO GOSHEN COLLEGE TO BE USED FOR SCHOLARSHIPS

    Expenses $46,184 · Grants $46,184

  • GRANTS MADE TO ANDREWS UNIVERSITY TO BE USED FOR SCHOLARSHIPS

    Expenses $46,185 · Grants $46,185

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Keybank N A

    TRUSTEE

    Total calculated
    $28,585
    From this org
    $28,585
    From related orgs
    $0
    Other
    $0
    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
24 April 2024
IRS schema version
2023v5.0
Source object
202421269349300012

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