Cyril E Smith Trust: FY2022 Nonprofit Profile & 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

82 cents of each dollar spent went to programs.

82%

18%

Program services 82% · $118K Management & general 18% · $25K

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

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

Merced County Board of Education

Institutional 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 $118K of program spending, described in the organization's own filed words · FY2021.

01

Provide scholarships to students pursuing higher education degrees and or professional certificates

$118Kprogram 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 FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$151K

Ln 12

Investment incomeLn 3$151K

Money outPt IX

$143K

Ln 25

Programscol B$118K

Managementcol C$25K

Owns and owesPt X

$1.6M

net assets · Ln 32

Cash and savingsLn 1–2$49K

Total assetsLn 16$1.6M

LiabilitiesLn 26$0

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$151K

Gains on assetsLn 7$105K

Total revenueLn 12$151K

Assets in detailPt X, end of year

CashLn 1$49K

Cash and savings togetherLn 1–2$49K

InvestmentsLn 11–13$1.5M

Total assetsLn 16$1.6M

LiabilitiesLn 26$0

Net assetsLn 32$1.6M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

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 FY22	End FY22
Cash and savingsLn 1–2	$2.1M	$49K
InvestmentsLn 11–13	$1.9M	$1.5M
Total assetsLn 16	$4.0M	$1.6M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$4.0M	$1.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$118K	$118K
Legal feesLn 11b	$4K		$4K
Accounting feesLn 11c	$2K		$2K
Investment management feesLn 11f	$19K		$19K
InterestLn 20	$264		$264
Total functional expensesLn 25	$143K	$118K	$25K	$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 Viewing	$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 FY2022 990 (4 parts)

Part VIII · Statement of revenue $151,382 across 6 lines filed

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

VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $46,082$46,082

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

VIII-6 Net rental income or lossRelated 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 $105,300$105,300

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $151,382$151,382

Part IX · Statement of functional expenses $142,940 across 5 lines filed

IX-1 Grants to domestic organizationsPrograms $117,500$117,500

IX-11b Legal feesManagement $4,153$4,153

IX-11c Accounting feesManagement $2,000$2,000

IX-11f Investment management feesManagement $19,023$19,023

IX-20 InterestManagement $264$264

IX-25 Total functional expensesPrograms $117,500 · Management $25,440 · Fundraising $0$142,940

Part X · Balance sheet $1,597,292 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $2,088,194$48,929

X-11 Publicly traded securitiesStart of year $1,936,878$1,548,363

X-16 Total assetsStart of year $4,025,072$1,597,292

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $4,025,072$1,597,292

X-33 Total liabilities and net assetsStart of year $4,025,072$1,597,292

Part XI · Reconciliation of net assets $1,597,292 net assets at year end

XI-1 Total revenue$151,382

XI-2 Total expenses$142,940

XI-3 Revenue less expenses$8,442

XI-4 Net assets at start of year$4,025,072

XI-5 Net unrealized gains (losses) on investments−$398,868

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−$2,037,354

XI-10 Net assets at end of year$1,597,292

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Cyril E Smith Trust FY2022 filing

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