Civic Intelligence

Trust B Under the Will of H C Watson Deceased

990 • Fiscal year 2015 • EIN 54-6098265

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 04, 2016

Organization ProfileWATSONMEMORIALSCHOLARSHIPS.COM
PO Box 187Onley, VA 23418

(757) 787-3770

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

31st percentile

0.05x

Higher debt load relative to assets than 31% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

82nd percentile

1.14x

Higher debt load relative to revenue than 82% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

9th percentile

-30%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

20th percentile

$6,542

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets31st percentile

Assets

$5,683,053

No earlier filing loaded for comparison.

Net Assets

$5,379,276

No earlier filing loaded for comparison.

Liabilities

$303,777

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin9th percentile

Revenue

$265,909

No earlier filing loaded for comparison.

Expenses

$345,485

No earlier filing loaded for comparison.

Net Income

-$79,576

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2015: $5,683,053Liabilities 2015: $303,777Net Assets 2015: $5,379,2762015Assets 2016: $5,841,554Liabilities 2016: $133,162Net Assets 2016: $5,708,3922016Assets 2017: $6,333,646Liabilities 2017: $177,636Net Assets 2017: $6,156,0102017Assets 2018: $5,817,847Liabilities 2018: $208,186Net Assets 2018: $5,609,6612018Assets 2019: $6,507,989Liabilities 2019: $189,322Net Assets 2019: $6,318,6672019Assets 2020: $6,726,443Liabilities 2020: $167,548Net Assets 2020: $6,558,8952020Assets 2021: $7,543,871Liabilities 2021: $161,173Net Assets 2021: $7,382,6982021Assets 2022: $6,461,640Liabilities 2022: $170,414Net Assets 2022: $6,291,2262022Assets 2023: $6,948,486Liabilities 2023: $204,703Net Assets 2023: $6,743,7832023Assets 2024: $7,565,581Liabilities 2024: $278,463Net Assets 2024: $7,287,1182024

Highlighted filing

2015

Assets$5,683,053
Liabilities$303,777
Net Assets$5,379,276
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2015: $265,909Expenses 2015: $345,485Net Income 2015: -$79,5762015Revenue 2016: $148,766Expenses 2016: $180,491Net Income 2016: -$31,7252016Revenue 2017: $228,690Expenses 2017: $217,564Net Income 2017: $11,1262017Revenue 2018: $467,240Expenses 2018: $249,031Net Income 2018: $218,2092018Revenue 2019: $328,051Expenses 2019: $228,864Net Income 2019: $99,1872019Revenue 2020: $188,269Expenses 2020: $206,667Net Income 2020: -$18,3982020Revenue 2021: $538,783Expenses 2021: $204,383Net Income 2021: $334,4002021Revenue 2022: $160,378Expenses 2022: $213,836Net Income 2022: -$53,4582022Revenue 2023: $264,772Expenses 2023: $251,019Net Income 2023: $13,7532023Revenue 2024: $441,237Expenses 2024: $336,898Net Income 2024: $104,3392024

Highlighted filing

2015

Revenue$265,909
Expenses$345,485
Net Income-$79,576
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 4, 2016
Return Version
2015v2.1
Gross Receipts
$476,429
Mission and Program Overview

Mission

To provide an endowment to support various colleges as designated under the will of h. C. Watson

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,687,087$5,286,045▼ $401,042
Savings and Temporary Cash Investments$264,884$376,132▲ $111,248
Land, Buildings, and Equipment, Net$12,480$14,456▲ $1,976
Prepaid Expenses and Deferred Charges$6,815$6,410▼ $405
Cash and Non-Interest-Bearing Accounts$10$10→ $0
Total Assets$5,971,276$5,683,053▼ $288,223
Liabilities
Other Liabilities$141,628$287,390▲ $145,762
Accounts Payable and Accrued Expenses$8,629$16,387▲ $7,758
Total Liabilities$150,257$303,777▲ $153,520
Net Assets / Fund Balance
Permanently Rstr Net Assets$5,821,019--
Unrestricted Net Assets-$5,379,276-
Total Net Assets Fund Balance$5,821,019$5,379,276▼ $441,743
Total Liabilities and Net Assets / Fund Balance$5,971,276$5,683,053▼ $288,223

Asset Categories

AssetBook ValueDepreciationBasis
Land$400-$400
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleBaseTotal
Herbert B Rew JrTrustee$6,542$6,542
Howard C Wessells IiTrustee$6,542$6,542
Jerry G EvansTrustee$6,542$6,542
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$265,909
Other Revenue
$0
Change in Net Assets
$-79,576

Audited Revenue Reconciliation

Revenue per Audited Statements
$265,909
Total Revenue per Audited Statements
$265,909
Total Revenue per Form 990
$265,909
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$310,664
Salaries, Compensation, and Employee Benefits$34,821
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$287,390$3,251-$290,641
Current Officers, Directors, Trustees, and Key Employees-$32,084-$32,084
Fees for Services Accounting-$11,475-$11,475
Occupancy-$4,394-$4,394
Payroll Taxes-$2,737-$2,737
Depreciation Depletion$385$1,490-$1,875
Insurance-$1,493-$1,493
Office Expenses-$786-$786
Total Functional Expenses$287,775$57,710$0$345,485

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$345,485
Total Expenses per Audited Statements$345,485
Total Expenses per Form 990$345,485
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Required Distributions to Colleges$287,390
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Trust B Under the Will of
EIN
54-6098265
Address
PO BOX 187, ONLEY, VA 23418

Signing Officer

Name
Herbert B Rew Jr
Title
Trustee
Signed
2016-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Herbert B Rew Jr
Voting Board Members
3
Independent Board Members
3
Employees
1

Preparer

Firm
Jones CPA Group Pc
Address
749 BOUSH STREET, NORFOLK, VA 23510
Preparer
Stephen M Jones CPA
Phone
7576277672
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Required distribution 287,390 0 0 filing & recording 0 2,931 0 surety bond 0 320 0”

Form 990, Part XI, Line 9

“Unrealized loss -362,167 total -362,167”

Raw XML Appendix318 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REQUIRED DISTRIBUTION 287,390 0 0 FILING & RECORDING 0 2,931 0 SURETY BOND 0 320 0
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt05379276
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WATSONMEMORIALSCHOLARSHIPS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HERBERT B REW JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-03-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRUST B UNDER THE WILL OF
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0H C WATSON DEC'D
ReturnHeader/Filer/BusinessNameControlTxt0TRUS
ReturnHeader/Filer/EIN0546098265
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 187
ReturnHeader/Filer/USAddress/CityNm0ONLEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541208437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JONES CPA GROUP PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0749 BOUSH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
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ReturnHeader/PreparerPersonGrp/PhoneNum07576277672
ReturnHeader/PreparerPersonGrp/PreparationDt02016-04-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN M JONES CPA
ReturnHeader/ReturnTs02016-04-18T14:19:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,683,053
Liabilities
$303,777
Net assets
$5,379,276
Revenue
$265,909
Expenses
$345,485
Net income
-$79,576
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.57$0.28$7.29$0.44$0.34$0.10
2023Detailed filing. Detailed filing data is available for this year.$6.95$0.20$6.74$0.26$0.25$0.01
2022Detailed filing. Detailed filing data is available for this year.$6.46$0.17$6.29$0.16$0.21$0.05
2021Detailed filing. Detailed filing data is available for this year.$7.54$0.16$7.38$0.54$0.20$0.33
2020Detailed filing. Detailed filing data is available for this year.$6.73$0.17$6.56$0.19$0.21$0.02
2019Detailed filing. Detailed filing data is available for this year.$6.51$0.19$6.32$0.33$0.23$0.10
2018Detailed filing. Detailed filing data is available for this year.$5.82$0.21$5.61$0.47$0.25$0.22
2017Detailed filing. Detailed filing data is available for this year.$6.33$0.18$6.16$0.23$0.22$0.01
2016Detailed filing. Detailed filing data is available for this year.$5.84$0.13$5.71$0.15$0.18$0.03
2015Detailed filing. Detailed filing data is available for this year.$5.68$0.30$5.38$0.27$0.35$0.08