Cyril E Smith Trust: Nonprofit Profile, Financials & Form 990 (EIN 94-6346471)

Revenue by fiscal year
FY2022	$151K
FY2023	$77K
FY2024	$142K
FY2024	$164K

Expenses by fiscal year
FY2022	$143K
FY2023	$83K
FY2024	$118K
FY2024	$150K

Net assets by fiscal year
FY2022	$1.6M
FY2023	$1.7M
FY2024	$1.8M
FY2024	$1.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in 0000.

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

Where the money goes

35 cents of each dollar spent went to programs.

35%

65%

Program services 35% · $53K Management & general 65% · $98K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation

Merced County Board of Education

Trustee

$0Pt VII · Sec A

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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

Awards scholarships to students as directed by Cyril Smith's will.

Provided by the organization

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1 program service account for $53K of program spending, described in the organization's own filed words · FY2024.

01

Provide scholarship grants to students pursuing higher education degrees and or professional certificates

$53Kprogram expense

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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 · 7 grants · $163K · 2021–2024

Unitemized GrantFY2024$25,800

Unitemized GrantFY2024$7,200

University of Ca - MercedFY2023$23,500

University of Ca MercedFY2022$17,200

Regents of the University of California at BerkeleyCA · FY2022$10,400

Marquette UniversityWI · FY2021$48,000

University of Ca MercedFY2021$30,500

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$164K

Ln 12

Investment incomeLn 3$164K

Other incomeLn 4–11$13

Money outPt IX

$150K

Ln 25

Programscol B$53K

Managementcol C$98K

Owns and owesPt X

$1.9M

net assets · Ln 32

Cash and savingsLn 1–2$59K

Total assetsLn 16$2.7M

LiabilitiesLn 26$757K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$164K

Other incomeLn 4–11$13

Gains on assetsLn 7$41K

Total revenueLn 12$164K

Assets in detailPt X, end of year

CashLn 1$59K

SavingsLn 2$0

Cash and savings togetherLn 1–2$59K

InvestmentsLn 11–13$1.9M

Other assetsLn 15$0

Total assetsLn 16$2.7M

LiabilitiesLn 26$757K

Net assetsLn 32$1.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$54K	$59K
InvestmentsLn 11–13	$1.7M	$1.9M
Total assetsLn 16	$2.4M	$2.7M
LiabilitiesLn 26	$650K	$757K
Net assetsLn 32	$1.8M	$1.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$0	$0
Grants to domestic individualsLn 2	$53K	$53K
Grants and assistance to foreign recipientsLn 3	$0	$0
Accounting feesLn 11c	$8K		$8K
Investment management feesLn 11f	$18K		$18K
InterestLn 20	$71K		$71K
Other expenses (24a–d)Ln 24	$340	$0	$340	$0
Total functional expensesLn 25	$150K	$53K	$98K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$142K	$118K	$23K	$1.8M	990 PDF
FY2023	$77K	$83K	−$6K	$1.7M	990 PDF
FY2022	$151K	$143K	$8K	$1.6M	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 (4 parts)

Part VIII · Statement of revenue $164,260 across 5 lines filed

Lines not itemized here account for $13 of total revenue; see the IRS return.

VIII-1h Total contributions, gifts and grants$0

VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $122,804$122,804

VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0

VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $41,443$41,443

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $164,260$164,260

Part IX · Statement of functional expenses $150,308 across 7 lines filed

IX-1 Grants to domestic organizationsPrograms $0$0

IX-2 Grants to domestic individualsPrograms $52,800$52,800

IX-3 Grants and assistance to foreign recipientsPrograms $0$0

IX-11c Accounting feesManagement $8,000$8,000

IX-11f Investment management feesManagement $17,750$17,750

IX-20 InterestManagement $71,418$71,418

IX-24 Other expenses (24a–d)Programs $0 · Management $340 · Fundraising $0$340

IX-25 Total functional expensesPrograms $52,800 · Management $97,508 · Fundraising $0$150,308

Part X · Balance sheet $2,657,826 assets, 20 lines filed

X-1 Cash, non-interest-bearingStart of year $54,272$59,206

X-2 Savings and temporary cash investmentsStart of year $0$0

X-3 Pledges and grants receivableStart of year $0$0

X-4 Accounts receivableStart of year $650,000$741,785

X-8 Inventories for sale or useStart of year $0$0

X-9 Prepaid expenses and deferred chargesStart of year $0$0

X-11 Publicly traded securitiesStart of year $1,718,639$1,856,835

X-12 Other securitiesStart of year $0$0

X-13 Program-related investmentsStart of year $0$0

X-14 Intangible assetsStart of year $0$0

X-15 Other assetsStart of year $0$0

X-16 Total assetsStart of year $2,422,911$2,657,826

X-17 Accounts payable and accrued expensesStart of year $0$0

X-18 Grants payableStart of year $0$0

X-19 Deferred revenueStart of year $0$0

X-20 Tax-exempt bond liabilitiesStart of year $0$0

X-24 Unsecured notes and loans payableStart of year $0$0

X-26 Total liabilitiesStart of year $649,957$756,894

X-32 Total net assets or fund balancesStart of year $1,772,954$1,900,932

X-33 Total liabilities and net assetsStart of year $2,422,911$2,657,826

Part XI · Reconciliation of net assets $1,900,932 net assets at year end

XI-1 Total revenue$164,260

XI-2 Total expenses$150,308

XI-3 Revenue less expenses$13,952

XI-4 Net assets at start of year$1,772,954

XI-5 Net unrealized gains (losses) on investments$114,026

XI-6 Donated services and use of facilities$0

XI-7 Investment expenses$0

XI-8 Prior period adjustments$0

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,900,932

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

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