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Nonprofiteer
← NATALIE & GEORGE PACE SCHOLARSHIP FUND

Form 990 for tax year 2023

Filed by NATALIE & GEORGE PACE SCHOLARSHIP FUND.

Totals

Total revenue
$106,057
Total expenses
$186,342
Contributions and grants received
$0
Grants paid
$176,157
Program service revenue
$0
Investment income
$106,057
Other revenue
$0
Total assets, end of year
$3,577,326
Total liabilities, end of year
$1,252
Net assets or fund balances, end of year
$3,576,074
Program services expenses (Part IX)
$176,157
Management and general expenses
$10,185
Fundraising expenses
$0
Program service expenses (Part III)
$176,157

Program services were 94.5% 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 $25,739 · excluded $25,739

  • 7a · Gross sales of assets other than inventory

    securities $5,701,766

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

    securities $5,621,448

  • 7c · Gain or loss

    securities $80,318

  • 7d · Net gain or loss

    total $80,318 · excluded $80,318

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $176,157 · program services $176,157

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $10,185 · management and general $10,185

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 12 · Investments: other securities

    beginning of year $3,383,458 · end of year $3,577,326

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,186 · end of year $1,252

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,382,272 · end of year $3,576,074

Mission and programs · 2023

Mission

The Trust is a Type I organization which solely supports Father Flanagans Boys Home Boys Town, an exempt 501c3 organization.

  • Support of Father Flanagans Boys Home Boys Town by providing education scholarships for youth served by Boys Town.

    Expenses $176,157 · Grants $176,157

As filed on the 2023 return.

Listed in Part VII

  • Judy F Rasmussen

    Trustee

    Total calculated
    $424,647
    From this org
    $0
    From related orgs
    $388,064
    Other
    $36,583
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $346,986 related
    Bonus
    not reported + $36,500 related
    Other
    not reported + $4,578 related
    Deferred
    not reported + $29,724 related
    Nontaxable benefits
    not reported + $6,859 related
    Filer's total
    not reported + $424,647 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I Line 3
Natalie and George Pace Scholarship Fund relied on its parent organization, Father Flanagans Boys Home Boys Town, to establish the compensation of its top management official. The Boys Town Board of Trustees Compensation Committee reviewed the compensation using data from a study of similarly quialified persons in functionally comparable positions at similarly situated organizations. Documentation of the decisions made regarding the compensation have been maintained by the committee.

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
2023
Filed
23 October 2024
IRS schema version
2023v5.1
Source object
202432979349302003

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