Civic Intelligence

Specht Educational Tr

990PF • Fiscal year 2023 • EIN 85-6577227

Jan 01, 2023 to Dec 31, 2023 • Filed on May 02, 2024

Organization Profile
231 W Maple StCherokee, IA 51012

(712) 225-2514

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

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

2023 filings • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

31st percentile

0.00x

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

2023 filings • $1M-$5M nonprofits • Source year 2023

Net Margin

19th percentile

-26%

Higher net margin than 19% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • $1M-$5M nonprofits • Source year 2023

Asset Growth

30th percentile

-2.6%

Faster asset growth than 30% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

68th percentile

21%

Faster revenue growth than 68% of similar nonprofits.

2023 filings • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$1,100,607

Down $29,641 (-2.6%) from 2022

Net Assets

Down

$1,100,607

Down $29,641 (-2.6%) from 2022

Liabilities

Flat

$1

Flat from 2022

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin19th percentile

Revenue

Up

$30,922

Up $5,406 (+21%) from 2022

Expenses

Up

$38,987

Up $25,713 (+194%) from 2022

Net Income

Down

-$8,065

Down $20,307 (-166%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$1.5M$1.0M$500K$0Assets 2020: $794,087Liabilities 2020: $1Net Assets 2020: $794,0872020Assets 2021: $824,621Liabilities 2021: $1Net Assets 2021: $824,6212021Assets 2022: $1,130,248Liabilities 2022: $1Net Assets 2022: $1,130,2482022Assets 2023: $1,100,607Liabilities 2023: $1Net Assets 2023: $1,100,6072023Assets 2024: $1,154,074Liabilities 2024: $0Net Assets 2024: $1,154,0742024

Highlighted filing

2023

Assets$1,100,607
Liabilities$1
Net Assets$1,100,607
Open 2023 Filing

Operations Trend

Revenue Growth68th percentile

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

$150K$100K$50K$0-$50KRevenue 2020: $1,815Expenses 2020: $500Net Income 2020: $1,3152020Revenue 2021: $34,188Expenses 2021: $14,987Net Income 2021: $19,2012021Revenue 2022: $25,516Expenses 2022: $13,274Net Income 2022: $12,2422022Revenue 2023: $30,922Expenses 2023: $38,987Net Income 2023: -$8,0652023Revenue 2024: $129,287Expenses 2024: $43,242Net Income 2024: $86,0452024

Highlighted filing

2023

Revenue$30,922
Expenses$38,987
Net Income-$8,065
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 2, 2024
Return Version
2023v5.0
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Trustee-$0--
-Trustee-$0--
Filing and Contact Details

Filer

Filer Name
Specht Educational Trust
EIN
85-6577227
Address
231 W Maple St, Cherokee, IA 51012

Signing Officer

Name
Jared Koch
Title
vice president
Signed
2024-05-02
Discuss with paid preparer
Yes

Preparer

Firm
Loughlin Law Firm
Address
231 West Maple St, Cherokee, IA 51012
Preparer
John P Loughlin
Phone
7122252514
Raw XML Appendix236 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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IRS990PF/MethodOfAccountingCashInd0X
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/AverageHrsPerWkDevotedToPosRt0002.00
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/AverageHrsPerWkDevotedToPosRt1002.00
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt0Cherokee State Bank
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt1Loughlin Law Firm
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/CompensationAmt00
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt0212 West Willow St
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/AddressLine1Txt1231 West Maple Street
IRS990PF/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/USAddress/CityNm0Cherokee
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IRS990PF/Organization501c3ExemptPFInd0X
IRS990PF/PFQualifyingDistributionsGrp/ExpensesAndContributionsAmt06000
IRS990PF/PFQualifyingDistributionsGrp/QualifyingDistributionsAmt06000
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/LineNumberTxt01
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/LineNumberTxt12
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/LineNumberTxt23
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/LineNumberTxt34
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/LineNumberTxt45
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt0This a charitable trust created by the Last Will and Testament of Sandra Specht, Cherokee County IA probate number
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt1ESPR016633 with an Initial Report filed on 10/06/2020 in Cherokee County IA case number TRPR016765.
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt2The stated purpose of the Trust is to award scholarships and low interest loans to students who reside in
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt3Cherokee County IA with a preference for students who have a family member that was or is a veteran of
IRS990PF/RlnOfActyToAccomOfExmptPrpsGrp/RlnOfActyToAccomOfExmptPrpsGrp/RelationshipStatementTxt4the United States military services.
IRS990PF/StatementsRegardingActy4720Grp/BrrwOrLendDisqualifiedPrsnInd0false
IRS990PF/StatementsRegardingActy4720Grp/BusinessHoldingsInd0false
IRS990PF/StatementsRegardingActy4720Grp/FurnGoodsDisqualifiedPrsnInd0false
IRS990PF/StatementsRegardingActy4720Grp/GrantsToIndividualsInd0false
IRS990PF/StatementsRegardingActy4720Grp/GrantsToOrganizationsInd0false
IRS990PF/StatementsRegardingActy4720Grp/InfluenceElectionInd0false
IRS990PF/StatementsRegardingActy4720Grp/InfluenceLegislationInd0false
IRS990PF/StatementsRegardingActy4720Grp/JeopardyInvestmentsInd0false
IRS990PF/StatementsRegardingActy4720Grp/NoncharitablePurposeInd0false
IRS990PF/StatementsRegardingActy4720Grp/PayCompDisqualifiedPrsnInd0false
IRS990PF/StatementsRegardingActy4720Grp/PaymentToGovernmentOfficialInd0false
IRS990PF/StatementsRegardingActy4720Grp/PayPremiumsPrsnlBnftCntrctInd0false
IRS990PF/StatementsRegardingActy4720Grp/ProhibitedTaxShelterTransInd0false
IRS990PF/StatementsRegardingActy4720Grp/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990PF/StatementsRegardingActy4720Grp/SaleOrExchDisqualifiedPrsnInd0false
IRS990PF/StatementsRegardingActy4720Grp/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990PF/StatementsRegardingActy4720Grp/TransferAstDisqualifiedPrsnInd0false
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPriorActsInd0false
IRS990PF/StatementsRegardingActy4720Grp/UncorrectedPYJeopardyInvstInd0false
IRS990PF/StatementsRegardingActy4720Grp/UndistributedIncomePYInd0false
IRS990PF/StatementsRegardingActyGrp/AtLeast5000InAssetsInd0true
IRS990PF/StatementsRegardingActyGrp/ChangesToArticlesOrBylawsInd0false
IRS990PF/StatementsRegardingActyGrp/ComplyWithPublicInspRqrInd0true
IRS990PF/StatementsRegardingActyGrp/ForeignAccountsQuestionInd0false
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/AddressLine1Txt0200 West Willow St
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/CityNm0Cherokee
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/StateAbbreviationCd0IA
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/ZIPCd051012
IRS990PF/StatementsRegardingActyGrp/NewSubstantialContributorsInd0false
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd0IA
IRS990PF/StatementsRegardingActyGrp/PersonsWithBooksName/BusinessNameLine1Txt0Cherokee State Bank Trust Dept
IRS990PF/StatementsRegardingActyGrp/PhoneNum07122253000
IRS990PF/StatementsRegardingActyGrp/PrivateOperatingFoundationInd0false
IRS990PF/StatementsRegardingActyGrp/Section508eRqrSatisfiedInd0false
IRS990PF/StatementsRegardingActyGrp/UnrelatedBusIncmOverLimitInd0false
IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt0Distributions were made totaling $6,000, that being four scholarships of $1,500 each. The Trust is organized for charitble and eduacational purposes to distribute scholarships to students in Cherokee county Iowa with a preference for Veteran family members.
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt00
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt01500
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt11500
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt21500
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/Amt31500
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt0education
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt1education
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt2education
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt3education
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt0Hawkeye Community College
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt1Iowa State University
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt2South Dakota State University
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientBusinessName/BusinessNameLine1Txt3University of South Dakota
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt0benficiary
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt1beneficiary
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt2beneficiary
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientRelationshipTxt3beneficiary
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt01501 E Orange Rd
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IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt2local
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/AddressLine1Txt3414 E Clark
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm0Waterloo
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm1Ames
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm2Brookings
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/CityNm3Vermillion
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IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd2SD
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/RecipientUSAddress/StateAbbreviationCd3SD
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IRS990PF/SupplementaryInformationGrp/OnlyContriToPreselectedInd0X
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt06000
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PerformanceOfServicesEtcInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PurchaseOfAssetsNonchrtblEOInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/ReimbursementArrangementsInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RelationshipsNonchrtblEOInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RentalOfFacilitiesOthAssetsInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SalesOrExchangesOfAssetsInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SharingOfFacilitiesEtcInd0false
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOfCashToNonchrtblEOInd0false
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IRS990PF/UndistributedIncomeGrp/ExcessDistributionCyovYr2Amt03000
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IRS990PF/UndistributedIncomeGrp/ExcessFromYear2Amt03000
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IRS990PF/UndistributedIncomeGrp/TotalExcessDistributionCyovAmt06000
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt00
LandEtcSchedule2/LandEtcGrp/CategoryOrItemTxt0half intereset in 110 acre farm - sold January 2023
LandEtcSchedule2/LandEtcGrp/CostOrOtherBasisAmt0336125
LegalFeesSchedule/LegalFeesGrp/CategoryTxt0Loughlin Law Firm
LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt05060
LegalFeesSchedule/LegalFeesGrp/NetInvestmentIncomeAmt05060
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt0206366
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt1160811
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc0equity investments
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc1fixed income investments
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc2International equity funds
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt0411369
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt1431336
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt2115630
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt0411369
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt1431336
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt2115630
OtherDecreasesSchedule/OtherDecreasesDetail/Amt021576
OtherDecreasesSchedule/OtherDecreasesDetail/Desc0decrease in investment corpus
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/Amt06454
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/CategoryTxt0Cherokee State Bank
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/NetInvestmentIncomeAmt06454
TaxesSchedule/TaxesDetail/Amt021251
TaxesSchedule/TaxesDetail/Amt1212
TaxesSchedule/TaxesDetail/CategoryTxt0sale expense for farmland
TaxesSchedule/TaxesDetail/CategoryTxt1IRS tax due
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt021251
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt1212
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jared Koch
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0vice president
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Specht Educational Trust
ReturnHeader/Filer/BusinessNameControlTxt0SPEC
ReturnHeader/Filer/EIN0856577227
ReturnHeader/Filer/USAddress/AddressLine1Txt0231 W Maple St
ReturnHeader/Filer/USAddress/CityNm0Cherokee
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051012
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420385620
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Loughlin Law Firm
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0231 West Maple St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cherokee
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051012
ReturnHeader/PreparerPersonGrp/PhoneNum07122252514
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0John P Loughlin
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-05-02T12:31:33-00:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jared
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Koch
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,100,607
Liabilities
$1
Net assets
$1,100,607
Revenue
$30,922
Expenses
$38,987
Net income
-$8,065
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.00$1.15$0.13$0.04$0.09
2023Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.03$0.04$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.03$0.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.03$0.01$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$0.00$0.00$0.00