Civic Intelligence

Trust B Under the Will of H C Watson Deceased

990 • Fiscal year 2024 • EIN 54-6098265

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 24, 2025

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

32nd percentile

0.04x

Higher debt load relative to assets than 32% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.63x

Higher debt load relative to revenue than 78% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

77th percentile

24%

Higher net margin than 77% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$6,623

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

62nd percentile

8.9%

Faster asset growth than 62% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

87th percentile

67%

Faster revenue growth than 87% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$7,565,581

Up $617,095 (+8.9%) from 2023

Net Assets

Up

$7,287,118

Up $543,335 (+8.1%) from 2023

Liabilities

Up

$278,463

Up $73,760 (+36%) from 2023

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin77th percentile

Revenue

Up

$441,237

Up $176,465 (+67%) from 2023

Expenses

Up

$336,898

Up $85,879 (+34%) from 2023

Net Income

Up

$104,339

Up $90,586 (+659%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

2024

Assets$7,565,581
Liabilities$278,463
Net Assets$7,287,118
Open 2024 Filing

Operations Trend

Revenue Growth87th percentile

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

2024

Revenue$441,237
Expenses$336,898
Net Income$104,339
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 24, 2025
Return Version
2024v5.0
Gross Receipts
$1,524,375
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$6,268,576$7,250,799▲ $982,223
Savings and Temporary Cash Investments$655,598$294,854▼ $360,744
Land, Buildings, and Equipment, Net$14,776$13,083▼ $1,693
Prepaid Expenses and Deferred Charges$9,536$6,845▼ $2,691
Total Assets$6,948,486$7,565,581▲ $617,095
Liabilities
Other Liabilities$193,432$263,506▲ $70,074
Accounts Payable and Accrued Expenses$11,271$14,957▲ $3,686
Total Liabilities$204,703$278,463▲ $73,760
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,743,783$7,287,118▲ $543,335
Total Net Assets Fund Balance$6,743,783$7,287,118▲ $543,335
Total Liabilities and Net Assets / Fund Balance$6,948,486$7,565,581▲ $617,095

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,683$67,457$80,140
Land$400-$400
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleBaseTotal
Benjamin G RewTrustee$6,623$6,623
Jerry G EvansTrustee$6,623$6,623
Howard C Wessells IiTrustee$5,623$5,623
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$438,196
Other Revenue
$3,041
Change in Net Assets
$104,339

Audited Revenue Reconciliation

Revenue per Audited Statements
$441,237
Total Revenue per Audited Statements
$441,237
Total Revenue per Form 990
$441,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$302,863
Salaries, Compensation, and Employee Benefits$34,035
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$263,506$7,023-$270,529
Current Officers, Directors, Trustees, and Key Employees-$32,952-$32,952
Fees for Services Accounting-$17,125-$17,125
Fees for Service Investment Mgmnt Fees-$9,985-$9,985
Insurance-$1,859-$1,859
Occupancy-$1,839-$1,839
Depreciation Depletion-$1,134-$1,134
Payroll Taxes-$1,083-$1,083
Office Expenses-$392-$392
Total Functional Expenses$263,506$73,392$0$336,898

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$336,898
Total Expenses per Audited Statements$336,898
Total Expenses per Form 990$336,898
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$263,506
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
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

“REVIEWED BY TRUSTEES”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Trust B Under the Will of
EIN
54-6098265
Phone
7577873770
Address
PO BOX 187, ONLEY, VA 23418

Signing Officer

Name
Jerry G Evans
Title
Trustee
Phone
7577873770
Signed
2025-03-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry G Evans
Voting Board Members
3
Independent Board Members
3
Employees
1

Preparer

Firm
Jones CPA Group Pc
Address
120 ATLANTIC STREET SUITE 300, NORFOLK, VA 23510-1729
Preparer
Kathleen Davanzo CPA
Phone
7576277672
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Filing & recording 0 3,620 0 surety bond 0 3,403 0 distribution to colleges 263,506 0 0 total 263,506 7,023 0”

Form 990, Part XI, Line 9

“Unrealized gain/loss 438,996”

Raw XML Appendix340 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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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0COLLEGE OF WILLIAM & MARY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1GOLDEY BEACOM COLLEGE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2UNIVERSITY OF VIRGINIA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt3VIRGINIA MILITARY INSTITUTE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt4VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0COLLEGE OF WILLIAM & MARY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt1GOLDEY BEACOM COLLEGE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt2UNIVERSITY OF VIRGINIA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt3VIRGINIA MILITARY INSTITUTE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt4VIRGINA POLYTECHNIC INSTITUTE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FILING & RECORDING 0 3,620 0 SURETY BOND 0 3,403 0 DISTRIBUTION TO COLLEGES 263,506 0 0 TOTAL 263,506 7,023 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNREALIZED GAIN/LOSS 438,996
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,565,581
Liabilities
$278,463
Net assets
$7,287,118
Revenue
$441,237
Expenses
$336,898
Net income
$104,339
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