Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2000.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
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Who runs it and what they're paid
1 person listed on the 990; $3K paid to officers and key staff.
Cherokee State Bank’s $3K as Trustee is at the 15th percentile of top reported officer pay among 133 <$100K 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 · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cherokee State Bank | $3,076 | $2,970 | $2,117 | $2,200 | $2,000 | $1,750 |
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.
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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 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Provides grants and subsidies to help cover tuition costs.
Questions for E Joe Lundsgaard Educational Trust
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Tuition grants & subsidize tuition
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $28K | $22K |
| InvestmentsLn 11–13 | $276K | $286K |
| Total assetsLn 16 | $503K | $506K |
| LiabilitiesLn 26 | $0 | $0 |
| Net assetsLn 32 | $503K | $506K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $8K | $8K | ||
| Pay of current officers, directors and key staffLn 5 | $3K | $3K | ||
| Accounting feesLn 11c | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $69 | $69 | ||
| Total functional expensesLn 25 | $13K | $13K | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $16K | $13K | $3K | $506K | 990 PDF |
| FY2024 | $47K | $15K | $32K | $503K | 990 PDF |
| FY2023 | $18K | $17K | $712 | $471K | 990 PDF |
| FY2022 | −$16K | $8K | −$24K | $470K | 990 PDF |
| FY2021 | $25K | $8K | $17K | $494K | 990 PDF |
| FY2020 | $63K | $11K | $52K | $477K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $16,054 revenue, 12 lines filed
Part VI · Governance 4 to look at
Part VIII · Statement of revenue $16,054 across 3 lines filed
Part IX · Statement of functional expenses $12,607 across 4 lines filed
Part X · Balance sheet $505,949 assets, 9 lines filed
Part XI · Reconciliation of net assets $505,949 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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