Overview
What is The Asc Trust At The University Of Pennsylvania?
The Annenberg School for Communication Trust at the University of Pennsylvania, often referred to as The Asc Trust, is a charitable organization established under Pennsylvania law. Its primary purpose is to financially support the Annenberg School for Communication, which is a division of the University of Pennsylvania focused on communication studies. The Trust operates under the Internal Revenue Code, categorized as a tax-exempt organization and a "supporting organization." Its activities are restricted to distributing the Trust's principal and income to the University of Pennsylvania, specifically for the benefit of the Annenberg School. During the 2022-2023 taxable year, the Trust made a distribution of $9,095,674 to the University of Pennsylvania.
Is The Asc Trust At The University Of Pennsylvania legitimate?
The Asc Trust At The University Of Pennsylvania is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Asc Trust At The University Of Pennsylvania 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:
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What is the mission statement of The Asc Trust At The University Of Pennsylvania?
The Asc Trust at the University of Pennsylvania is established to support the Annenberg School for Communication, which is a communication studies institution within the University of Pennsylvania. The mission of the trust is to make distributions of its principal and income to the Annenberg School, with the goal of benefiting it completely. The trust's activities are governed by its trust instrument, and it operates under the guidelines of the Internal Revenue Code, specifically as a tax-exempt organization and a supporting organization. In the taxable year of 2022-2023, the trust made distributions worth $9,095,674 to the University of Pennsylvania in support of the Annenberg School.
What is the revenue of The Asc Trust At The University Of Pennsylvania?
The Asc Trust At The University Of Pennsylvania's revenue in 2024 was $9,406,065.
Who are the executives of The Asc Trust At The University Of Pennsylvania and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for The Asc Trust At The University Of Pennsylvania?
The Asc Trust At The University Of Pennsylvania's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of The Asc Trust At The University Of Pennsylvania
The Asc Trust at the University of Pennsylvania is a charitable organization, established under Pennsylvania's laws, with a sole purpose of supporting the Annenberg School for Communication at the University of Pennsylvania. This school, dedicated to the study of communications, is an essential component of the University of Pennsylvania, governed and operated by its Trustees. The Asc Trust's mission is to make distributions of its principal and income to the Annenberg School, ensuring its continuous benefit. As per IRS Determination Letters from 2002 and 2010, this trust is recognized as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, categorized as a "supporting organization" and further classified as a "Type III" supporting organization. During the 2022-2023 taxable year, the trust made distributions to the Annenberg School to the tune of $9,095,674.
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Impact
October, 2024
The Asc Trust at the University of Pennsylvania significantly enhances the resources and capabilities of the Annenberg School for Communication. By providing substantial financial support, including distributions amounting to over $9 million during the most recent fiscal year, the Trust enables the School to expand its educational programs, conduct innovative research, and attract distinguished faculty and students. This level of funding plays a crucial role in fostering a vibrant academic environment that encourages critical thinking, interdisciplinary collaboration, and cutting-edge communication studies.
With its focused mission, the Trust ensures that the Annenberg School remains at the forefront of scholarly inquiry and public engagement in communication. This support ultimately enriches the academic community at the University of Pennsylvania and contributes to the broader field of communication studies, impacting both local and global discourse on essential issues in media, technology, and society.
This information is meant to be a general summary of The Asc Trust At The University Of Pennsylvania. 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 2024.
- Investment Income: $9,406,065
- Gross Receipts: $9,406,065
Assets and Liabilities:
- Total Assets: $121,191,233
- Total Liabilities: $0
- Net Assets: $121,191,233
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Organization Details
Founding Year
2002
Principal Officer
John R Latourette Jr
NTEE Category
Code: B114 - Education
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