Civic Intelligence

Trust B Under the Will of H C Watson Deceased

990 • Fiscal year 2025 • EIN 54-6098265

Jan 01, 2025 to Dec 31, 2025 • Filed on Mar 27, 2026

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

33rd percentile

0.04x

Higher debt load relative to assets than 33% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

59th percentile

0.22x

Higher debt load relative to revenue than 59% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

96th percentile

73%

Higher net margin than 96% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

23rd percentile

$7,442

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

70th percentile

10%

Faster asset growth than 70% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

98th percentile

233%

Faster revenue growth than 98% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$8,355,940

Up $790,359 (+10%) from 2024

Net Assets

Up

$8,028,370

Up $741,252 (+10%) from 2024

Liabilities

Up

$327,570

Up $49,107 (+18%) from 2024

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin96th percentile

Revenue

Up

$1,469,671

Up $1,028,434 (+233%) from 2024

Expenses

Up

$400,239

Up $63,341 (+19%) from 2024

Net Income

Up

$1,069,432

Up $965,093 (+925%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$10M$5.0M$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: $7,287,1182024Assets 2025: $8,355,940Liabilities 2025: $327,570Net Assets 2025: $8,028,3702025

Highlighted filing

2025

Assets$8,355,940
Liabilities$327,570
Net Assets$8,028,370
Open 2025 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 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: $104,3392024Revenue 2025: $1,469,671Expenses 2025: $400,239Net Income 2025: $1,069,4322025

Highlighted filing

2025

Revenue$1,469,671
Expenses$400,239
Net Income$1,069,432
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Mar 27, 2026
Return Version
2025v4.0
Gross Receipts
$2,396,019
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$7,250,799$8,111,185▲ $860,386
Savings and Temporary Cash Investments$294,854$230,018▼ $64,836
Land, Buildings, and Equipment, Net$13,083$11,433▼ $1,650
Prepaid Expenses and Deferred Charges$6,845$3,304▼ $3,541
Total Assets$7,565,581$8,355,940▲ $790,359
Liabilities
Other Liabilities$263,506$310,167▲ $46,661
Accounts Payable and Accrued Expenses$14,957$17,403▲ $2,446
Total Liabilities$278,463$327,570▲ $49,107
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,287,118$8,028,370▲ $741,252
Total Net Assets Fund Balance$7,287,118$8,028,370▲ $741,252
Total Liabilities and Net Assets / Fund Balance$7,565,581$8,355,940▲ $790,359

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,033$69,107$80,140
Land$400-$400
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleBaseTotal
Howard C Wessells IiTrustee$7,442$7,442
Jerry G EvansTrustee$7,442$7,442
Benjamin G RewTrustee$7,441$7,441
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,465,183
Other Revenue
$4,488
Change in Net Assets
$1,069,432

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,469,671
Total Revenue per Audited Statements
$1,469,671
Total Revenue per Form 990
$1,469,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$361,580
Salaries, Compensation, and Employee Benefits$38,659
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$310,167$7,175-$317,342
Current Officers, Directors, Trustees, and Key Employees-$37,491-$37,491
Fees for Service Investment Mgmnt Fees-$18,881-$18,881
Fees for Services Accounting-$18,875-$18,875
Occupancy-$1,975-$1,975
Insurance-$1,689-$1,689
Depreciation Depletion-$1,650-$1,650
Payroll Taxes-$1,168-$1,168
Office Expenses-$1,084-$1,084
Advertising-$56-$56
Other Expenses-$28-$28
Total Functional Expenses$310,167$90,072$0$400,239

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$400,239
Total Expenses per Audited Statements$400,239
Total Expenses per Form 990$400,239
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$310,167
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
2026-03-27
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Everfore Cpas & Advisors 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 3,772 0 surety bond 0 3,403 0 distribution to colleges 310,167 0 0 total 310,167 7,175 0”

Form 990, Part XI, Line 9

“Unrealized gain/loss -328,180”

Raw XML Appendix349 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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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0400239
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED BY TRUSTEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FILING & RECORDING 0 3,772 0 SURETY BOND 0 3,403 0 DISTRIBUTION TO COLLEGES 310,167 0 0 TOTAL 310,167 7,175 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNREALIZED GAIN/LOSS -328,180
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07565581
IRS990/TotalAssetsEOYAmt08355940
IRS990/TotalAssetsGrp/BOYAmt07565581
IRS990/TotalAssetsGrp/EOYAmt08355940
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090072
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0310167
IRS990/TotalFunctionalExpensesGrp/TotalAmt0400239
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0278463
IRS990/TotalLiabilitiesEOYAmt0327570
IRS990/TotalLiabilitiesGrp/BOYAmt0278463
IRS990/TotalLiabilitiesGrp/EOYAmt0327570
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07287118
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08028370
IRS990/TotalProgramServiceExpensesAmt0310167
IRS990/TotalReportableCompFromOrgAmt022325
IRS990/TotalRevenueGrp/ExclusionAmt04488
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01465183
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01469671
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07565581
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08355940
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 187
IRS990/USAddress/CityNm0ONLEY
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023418
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WATSONMEMORIALSCHOLARSHIPS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY G EVANS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum07577873770
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-03-27
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/PhoneNum07577873770
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 187
ReturnHeader/Filer/USAddress/CityNm0ONLEY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023418
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541208437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EVERFORE CPAS & ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0120 ATLANTIC STREET SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0235101729
ReturnHeader/PreparerPersonGrp/PhoneNum07576277672
ReturnHeader/PreparerPersonGrp/PreparationDt02026-03-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHLEEN DAVANZO CPA
ReturnHeader/ReturnTs02026-04-03T16:03:50-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02025-01-01
ReturnHeader/TaxPeriodEndDt02025-12-31
ReturnHeader/TaxYr02025

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,355,940
Liabilities
$327,570
Net assets
$8,028,370
Revenue
$1,469,671
Expenses
$400,239
Net income
$1,069,432
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.36$0.33$8.03$1.47$0.40$1.07
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2025 filings • 501(c)3 • $5M-$10M nonprofits