Overview
What is Waverly C Workman Trust Uw 1020001514?
Waverly C Workman Trust Uw 1020001514 is a charitable trust based in Champaign, Illinois, established following the will of Waverly C. Workman. The trust's primary function is to manage and lease farmland real estate, generating annual net income after necessary expenses. This income is then distributed to three non-profit organizations, namely Illinois Churches in Action, Illinois Great Rivers Annual Conference of the United Methodist Church. Conference Board of Global Ministries, and Conference Board of Ordained Ministry. The latter organization utilizes the funds to provide scholarships or grants for Illinois ministerial students attending Methodist/Wesleyan seminaries. The trust's purpose is to support these organizations and contribute to religious education and community development.
Is Waverly C Workman Trust Uw 1020001514 legitimate?
Waverly C Workman Trust Uw 1020001514 is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waverly C Workman Trust Uw 1020001514 submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Waverly C Workman Trust Uw 1020001514?
The Waverly C Workman Trust UW 1020001514, established according to Workman's will, leases and manages farmland real estate. The trustee distributes the net income annually from the farmland after necessary expenses and a reasonable reserve fund for the next crop year. One-third of this income is allocated to three non-profit organizations: Illinois Churches in Action, Illinois Great Rivers Annual Conference of the United Methodist Church. Conference Board of Global Ministries, and Conference Board of Ordained Ministry. These organizations utilize the funds to offer scholarships or grants for Illinois ministerial students to attend Methodist/Wesleyan seminaries, aiming to support the education and future of these individuals in the ministry.
What is the revenue of Waverly C Workman Trust Uw 1020001514?
Waverly C Workman Trust Uw 1020001514's revenue in 2023 was $331,419.
Who are the executives of Waverly C Workman Trust Uw 1020001514 and what are their salaries?
There is 1 key member and their salary:
- Compensation: $1,000
- Related: $0
- Other: $0
Where can I find the form 990 for Waverly C Workman Trust Uw 1020001514?
Waverly C Workman Trust Uw 1020001514's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Waverly C Workman Trust Uw 1020001514
The Waverly C Workman Trust UW 1020001514, established according to the will of its namesake, is designed to distribute a portion of the net income generated from leased and managed farmland real estate annually. This trust, following necessary expenses and setting aside a reasonable reserve fund for the next crop year, allocates one-third of its earnings to three non-profit organizations. Among these beneficiaries are Illinois Churches in Action, the Illinois Great Rivers Annual Conference of the United Methodist Church. Conference Board of Global Ministries, and the Conference Board of Ordained Ministry. These organizations utilize the funds received from the trust to provide scholarships or grants for Illinois ministerial students seeking to attend Methodist/Wesleyan seminaries. The mission of the Waverly C Workman Trust UW 1020001514, therefore, is to support the educational pursuits of future ministers in Illinois, channeling resources through distinguished non-profit organizations.
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Impact
October, 2024
Waverly C Workman Trust Uw 1020001514 plays a vital role in supporting the future of religious leadership and community service in Illinois. Established as a living testament to Waverly C. Workman's vision, the trust manages and leases farm land real estate. From this venture, the net income is systematically allocated to three designated nonprofit organizations: Illinois Churches in Action, the Illinois Great Rivers Annual Conference of the United Methodist Church, and the Conference Board of Ordained Ministry.
This structured distribution of funds—one-third to each organization—ensures a sustained financial backing for initiatives aimed at fostering ministerial education. Specifically, the trust contributes towards scholarships and grants for Illinois ministerial students attending Methodist and Wesleyan seminaries. By investing in the education of future leaders, the trust effectively strengthens faith-based communities and enhances the capacity for service, advocacy, and outreach in various ministerial contexts.
Moreover, the emphasis on a reasonable reserve fund for the next crop year demonstrates a commitment to ensure ongoing operational stability and sustenance of the farm income model, which further enables these organizations to plan and allocate resources more effectively. Overall, the trust's impact extends beyond financial support; it cultivates the next generation of spiritual leaders while reinforcing the infrastructure of community service and religious outreach in Illinois.
This information is meant to be a general summary of Waverly C Workman Trust Uw 1020001514. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $17,870
- Gross Receipts: $634,841
Assets and Liabilities:
- Total Assets: $7,622,989
- Total Liabilities: $0
- Net Assets: $7,622,989
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Organization Details
Founding Year
2010
Principal Officer
Shondra Lynch
NTEE Category
Code: X00 - Religion related
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