Marjorie M Bringe Charitable Trust FY2020 filing

Tax-deductible

Sheboygan, WI501(c)(3)Foundations & GrantmakersEIN 39-2043612Revenue $500K in FY2020

On file with the IRS802 Michigan Ave, 53081-3438 · Sheboygan, WITax-exempt since Sep 2003Supporting organization — 509(a)(3)

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Provide educational scholarship

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$86K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $152K a year · 19% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$86K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
52 mo
of spending, in cash
Looks good: 52.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$468K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$500K
Spent
$598K
To programs
78%
Net assets
$19.2M
By yearFY2020–FY2024
Revenue
$500K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$500K
FY2021$826K
FY2022$783K
FY2023$894K
FY2024$1.1M
Expenses
$598K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$598K
FY2021$660K
FY2022$653K
FY2023$667K
FY2024$713K
Net assets
$19.2M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$19.2M
FY2021$19.3M
FY2022$19.4M
FY2023$19.6M
FY2024$19.9M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $468K Management & general 22% · $130K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990; $86K paid to officers and key staff.

Part VII, Section A · reportable compensation
$49,831Pt VII · Sec A
$36,240Pt VII · Sec A

David a Van De Water’s $101K as Trustee is at the 31st percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David a Van De Water$100,662$80,000$100,662$60,028$49,831
Lorna Van De Water—$20,662—$44,328$36,240

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Marjorie M Bringe Charitable Trust executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offer scholarships to support students' education.

Provided by the organization

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2 programs · $468K · in their own filed words · FY2020
01

Sheboygan south high school 3128 south 12TH street sheboygan, wi 53081 scholarships to students of demonstrated academic abilities

$234Kprogram expense
02

Sheboygan north high school 1042 school avenue sheboygan, wi 53083 scholarships to students of demonstrated academic abilities

$234Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 10 grants · $2.7M · 2020–2024
Sheboygan Area School DistrictWI · FY2024$302,500
Sheboygan Area School DistrictWI · FY2024$300,000
Sheboygan Area School DistrictWI · FY2023$300,000
Sheboygan Area School DistrictWI · FY2023$255,000
Sheboygan Area School DistrictWI · FY2022$268,000
Sheboygan Area School DistrictWI · FY2022$268,000
Sheboygan Area School DistrictWI · FY2021$264,000
Sheboygan Area School DistrictWI · FY2021$264,000
Sheboygan Area School DistrictWI · FY2020$234,162
Sheboygan Area School DistrictWI · FY2020$234,161

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$500K
Ln 12
Investment incomeLn 3$499K
Other incomeLn 4–11$873
Money outPt IX
$598K
Ln 25
Programscol B$468K
Managementcol C$130K
Owns and owesPt X
$19.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.6M
Total assetsLn 16$19.6M
LiabilitiesLn 26$468K
PeoplePt VI, VII
2
listed · VII A
PaidVII A2
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$499K
Other incomeLn 4–11$873
Gains on assetsLn 7−$28K
Total revenueLn 12$500K
Assets in detailPt X, end of year
CashLn 1$100
SavingsLn 2$2.6M
Cash and savings togetherLn 1–2$2.6M
InvestmentsLn 11–13$17.0M
Total assetsLn 16$19.6M
LiabilitiesLn 26$468K
Net assetsLn 32$19.2M
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.2M$2.6M
InvestmentsLn 11–13$17.7M$17.0M
Total assetsLn 16$19.8M$19.6M
LiabilitiesLn 26$517K$468K
Net assetsLn 32$19.3M$19.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$468K$468K
Pay of current officers, directors and key staffLn 5$86K$86K
Payroll taxesLn 10$42K$42K
InterestLn 20$130$130
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$598K$468K$130K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$713K$337K$19.9M 990 PDF
FY2023 $894K$667K$227K$19.6M 990 PDF
FY2022 $783K$653K$130K$19.4M 990 PDF
FY2021 $826K$660K$166K$19.3M 990 PDF
FY2020 Viewing $500K$598K−$98K$19.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $500,054 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $681,470$499,181
I-11 Other revenuePrior year $16$873
I-12 Total revenuePrior year $681,486$500,054
I-13 Grants and similar amounts paidPrior year $517,000$468,323
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $103,000$128,494
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,987$1,453
I-18 Total expensesPrior year $621,987$598,270
I-19 Revenue less expensesPrior year $59,499−$98,216
Part VI · Governance 0 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $500,054 across 4 lines filed
VIII-3 Investment incomeRelated to mission $527,207$527,207
VIII-7 Net gain or loss on sales of assetsRelated to mission −$28,026−$28,026
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $873$873
VIII-12 Total revenueRelated to mission $500,054$500,054
Part IX · Statement of functional expenses $598,270 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $468,323$468,323
IX-5 Pay of current officers, directors and key staffManagement $86,071$86,071
IX-10 Payroll taxesManagement $42,423$42,423
IX-20 InterestManagement $130$130
IX-24 Other expenses (24a–d)Management $1,323$1,323
IX-25 Total functional expensesPrograms $468,323 · Management $129,947 · Fundraising $0$598,270
Part X · Balance sheet $19,620,210 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $100$100
X-2 Savings and temporary cash investmentsStart of year $2,180,559$2,611,636
X-11 Publicly traded securitiesStart of year $17,668,773$17,008,474
X-16 Total assetsStart of year $19,849,432$19,620,210
X-18 Grants payableStart of year $517,000$468,323
X-26 Total liabilitiesStart of year $517,000$468,323
X-32 Total net assets or fund balancesStart of year $19,332,432$19,151,887
X-33 Total liabilities and net assetsStart of year $19,849,432$19,620,210
Part XI · Reconciliation of net assets $19,151,887 net assets at year end
XI-1 Total revenue$500,054
XI-2 Total expenses$598,270
XI-3 Revenue less expenses−$98,216
XI-4 Net assets at start of year$19,332,432
XI-5 Net unrealized gains (losses) on investments−$82,329
XI-10 Net assets at end of year$19,151,887

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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