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Janie Hammit Memorial Incorporated

Tax-deductible

Bristol, VA501(c)(3)UnclassifiedEIN 54-0534604Revenue $75K in FY2024

On file with the IRS150 Janie Hammitt Dr, 24201-4038 · Bristol, VATax-exempt since Aug 1954Publicly supported charity — 170(b)(1)(A)(vi)

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Janie Hammit Memorial provides scholarships to those in need in order to continue their education.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
3 of 5
filings with a surplus
Average surplus $7K a year · 13% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 16.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$75K
+78% vs prior year
Spent
$50K
To programs
82%
Net assets
$690K
By yearFY2020–FY2024
Revenue
$75K
FY2024▲ +78%
Tap a bar for its year
Revenue by fiscal year
FY2020$45K
FY2021$68K
FY2022$54K
FY2023$42K
FY2024$75K
Expenses
$50K
FY2024▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$40K
FY2021$42K
FY2022$58K
FY2023$58K
FY2024$50K
Net assets
$690K
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$687K
FY2021$713K
FY2022$643K
FY2023$666K
FY2024$690K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1954.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $41K Management & general 18% · $9K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Dave Maples
Treasurer
$0Pt VII · Sec A
Shane Estep
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Janie Hammit Memorial Incorporated 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers scholarships to help people continue their education.

Questions for Janie Hammit Memorial Incorporated

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Provided by the organization

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2 programs · $41K · in their own filed words · FY2024
01

Operation and rental of the building in order to generate funds to provide scholarships.

$30Kprogram expense
02

Two scholarships were provided to individuals for their college tuition.

$11Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$75K
Ln 12
Other incomeLn 4–11$35K
Investment incomeLn 3$33K
Gifts and grantsLn 1h$7K
Money outPt IX
$50K
Ln 25
Programscol B$41K
Managementcol C$9K
Owns and owesPt X
$690K
net assets · Ln 32
Cash and savingsLn 1–2$67K
Total assetsLn 16$693K
LiabilitiesLn 26$3K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7K
Investment incomeLn 3$33K
Other incomeLn 4–11$35K
Gains on assetsLn 7$17K
Total revenueLn 12$75K
Assets in detailPt X, end of year
CashLn 1$67K
Cash and savings togetherLn 1–2$67K
InvestmentsLn 11–13$431K
Land, buildings, equipmentLn 10c$191K
Total assetsLn 16$693K
LiabilitiesLn 26$3K
Net assetsLn 32$690K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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 FY24End FY24
Cash and savingsLn 1–2$78K$67K
InvestmentsLn 11–13$384K$431K
Land, buildings, equipmentLn 10c$206K$191K
Total assetsLn 16$668K$693K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$666K$690K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K$4K
Investment management feesLn 11f$5K$5K
Office expensesLn 13$367$367
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$21K$21K
Total functional expensesLn 25$50K$41K$9K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $75K$50K$25K$690K 990 PDF
FY2023 $42K$58K−$16K$666K 990 PDF
FY2022 $54K$58K−$4K$643K 990 PDF
FY2021 $68K$42K$26K$713K 990 PDF
FY2020 $45K$40K$6K$687K 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 FY2024 990 (6 parts)
Part I · Summary $74,749 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,890$7,091
I-9 Program service revenuePrior year $22$0
I-10 Investment incomePrior year $708$32,853
I-11 Other revenuePrior year $34,461$34,805
I-12 Total revenuePrior year $42,081$74,749
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $58,424$50,041
I-18 Total expensesPrior year $58,424$50,041
I-19 Revenue less expensesPrior year −$16,343$24,708
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $74,749 across 7 lines filed
VIII-1f All other contributions, gifts and grants$7,091
VIII-1h Total contributions, gifts and grants$7,091
VIII-3 Investment incomeRelated to mission $15,639$15,639
VIII-6 Net rental income or lossRelated to mission $34,805$34,805
VIII-7 Net gain or loss on sales of assetsRelated to mission $17,214$17,214
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $67,658 · Unrelated business $0 · Excluded from tax $0$74,749
Part IX · Statement of functional expenses $50,041 across 6 lines filed
IX-11c Accounting feesManagement $3,844$3,844
IX-11f Investment management feesManagement $5,046$5,046
IX-13 Office expensesManagement $367$367
IX-22 Depreciation, depletion and amortizationPrograms $14,453$14,453
IX-23 InsurancePrograms $5,688$5,688
IX-24 Other expenses (24a–d)Programs $20,643$20,643
IX-25 Total functional expensesPrograms $40,784 · Management $9,257 · Fundraising $0$50,041
Part X · Balance sheet $692,985 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $77,500$67,202
X-4 Accounts receivable$2,686
X-9 Prepaid expenses and deferred chargesStart of year $833$833
X-10c Land, buildings and equipment, netStart of year $205,934$191,481
X-11 Publicly traded securitiesStart of year $384,221$430,783
X-16 Total assetsStart of year $668,488$692,985
X-17 Accounts payable and accrued expensesStart of year $2,572$2,572
X-26 Total liabilitiesStart of year $2,572$2,572
X-27 Net assets without donor restrictionsStart of year $665,916$690,413
X-32 Total net assets or fund balancesStart of year $665,916$690,413
X-33 Total liabilities and net assetsStart of year $668,488$692,985
Part XI · Reconciliation of net assets $690,413 net assets at year end
XI-1 Total revenue$74,749
XI-2 Total expenses$50,041
XI-3 Revenue less expenses$24,708
XI-4 Net assets at start of year$665,916
XI-5 Net unrealized gains (losses) on investments−$211
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$690,413

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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