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Nonprofiteer
← OTHA E HERRING SCHOLARSHIP FUND II

Form 990 for tax year 2023

Filed by OTHA E HERRING SCHOLARSHIP FUND II.

Totals

Total revenue
$36,690
Total expenses
$33,846
Contributions and grants received
$0
Grants paid
$26,000
Program service revenue
$0
Investment income
$36,690
Other revenue
$0
Total assets, end of year
$831,121
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$831,121
Program services expenses (Part IX)
$29,969
Management and general expenses
$3,877
Fundraising expenses
$0
Program service expenses (Part III)
$29,519

Program services were 88.5% 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 $22,752 · excluded $22,752

  • 7a · Gross sales of assets other than inventory

    securities $194,610

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

    securities $180,672

  • 7c · Gain or loss

    securities $13,938

  • 7d · Net gain or loss

    total $13,938 · excluded $13,938

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $26,000 · program services $26,000

  • 5 · Compensation of officers, directors and key employees

    total $7,036 · program services $3,518 · management and general $3,518

  • 11b · Fees: legal

    total $359 · management and general $359

  • 24a · Other expenses: REAL ESTATE TAXES

    total $326 · program services $326

  • 24b · Other expenses: REAL ESTATE EXPENSES

    total $125 · program services $125

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $21,424 · end of year $21,613

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

    $2,290

  • 10c · Land, buildings and equipment, net

    beginning of year $2,290 · end of year $2,290

  • 11 · Investments: publicly traded securities

    beginning of year $805,089 · end of year $807,218

  • 29 · Capital stock, trust principal or current funds

    beginning of year $828,803 · end of year $831,120

  • 31 · Retained earnings, endowment or other funds

    end of year $1

Mission and programs · 2023

Mission

PROVIDE SCHOLARSHIPS TO STUDENTS OF JAMES SPRUNT COMMUNITY COLLEGE WHO ARE EITHER RESIDENTS OF DUPLIN COUNTY, NC OR THE TOWN OF MOUNT OLIVE, NC

  • PROVIDE SCHOLARSHIPS TO STUDENTS WHO ATTEND JAMES SPRUNT COMMUNITY COLLEGE

    Expenses $29,519 · Grants $26,000

As filed on the 2023 return.

Listed in Part VII

  • Mary Drummond

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Clark Drummond

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Weston

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Armin Jancis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Haywood Quinn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert Kornegay

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lynne Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • First Citizens Bank

    TRUSTEE

    Total calculated
    $7,037
    From this org
    $7,037
    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

  • JAMES SPRUNT COMMUNITY COLLEGE

    $26,000

    PROVIDE SCHOLARSHIPS FOR RESIDENTS OF DUPLIN COUNTY AND THE TOWN OF MOUNT OLIVE, NC WHO ARE FULL OR STUDENTS OF JAMES SPRUNT COMMUNITY COLLEGE

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.

  • JAMES SPRUNT COMMUNITY COLLEGE

    501(C)(3) · EDUCATION · NC

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
18 October 2024
IRS schema version
2023v5.1
Source object
202443039349301724

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