Overview
What is Elizabeth L Battle Trust For St Philips Church?
The Elizabeth L. Battle Trust for St. Philips Church is a nonprofit organization, specifically an endowed fund, established to support St. Philip's Church in Charleston, South Carolina. The trust allows the church to annually withdraw funds for its religious and charitable purposes, without exceeding 4% of the average fair market value of the trust. Up to a quarter of these withdrawals can be used for maintaining and upkeeping church properties, while the remaining funds can be allocated to areas of the church's greatest need, as determined by the vestry. The trust's purpose includes supporting the church's ministry, such as its music program, continued educational experiences for the clergy, and adult educational programs.
Is Elizabeth L Battle Trust For St Philips Church legitimate?
Elizabeth L Battle Trust For St Philips Church is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elizabeth L Battle Trust For St Philips Church 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Elizabeth L Battle Trust For St Philips Church?
The Elizabeth L. Battle Trust for St. Philips Church provides an endowed fund exclusively for the benefit of St. Philips Church. Each year, the church can withdraw an amount for its religious and charitable purposes, not exceeding 4% of the trust's average fair market value. Up to a quarter of the annual withdrawals can be used for the maintenance and upkeep of church properties. The balance of the annual withdrawals can be utilized as determined by the church's vestry, addressing areas of the church's greatest need. The settlor encourages the vestry to consider supporting various aspects of the church's ministry, including its music program, continued educational experiences for the clergy, and adult educational programs. As of 2022, no distributions were made from the trust, as it was established in December of that year.
Who is the CEO of Elizabeth L Battle Trust For St Philips Church?
Robert M Kunes is the Trustee of Elizabeth L Battle Trust For St Philips Church.
What is the revenue of Elizabeth L Battle Trust For St Philips Church?
Elizabeth L Battle Trust For St Philips Church's revenue in 2022 was $6,797,045.
Who are the executives of Elizabeth L Battle Trust For St Philips Church and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Elizabeth L Battle Trust For St Philips Church?
Elizabeth L Battle Trust For St Philips Church's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Elizabeth L Battle Trust For St Philips Church
The Elizabeth L. Battle Trust for St. Philip's Church is established as an endowed fund intended for the exclusive benefit of St. Philip's Church, a Protestant Episcopal church. The trust enables St. Philip's Church to withdraw a portion of its annual value, not exceeding four percent, for religious and charitable purposes. The settlor allows up to a quarter of these annual withdrawals to be utilized for the maintenance and upkeep of church properties. The remaining funds are at the discretion of the church's vestry, to be allocated to areas of greatest need within the church. The settlor encourages the vestry to consider supporting various church ministries, including its music program, continued educational experiences for the clergy, and adult educational programs.
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Impact
October, 2024
The Elizabeth L. Battle Trust for St. Philip's Church significantly enhances the church's ability to fulfill its religious and charitable missions. By providing an endowed fund, the trust ensures a sustainable financial resource that supports the church's activities and maintenance.
Each year, St. Philip's Church can withdraw a portion of the trust's value, allowing for crucial support in areas identified as having the greatest need. This structured funding model enables the vestry to prioritize key initiatives, including the upkeep of church properties and various ministries. Specifically, up to 25% of the annual withdrawals can be allocated to maintaining church facilities, ensuring a safe and welcoming environment for worshippers.
Moreover, the trust encourages investments in vital programs such as the church’s music initiatives, educational experiences for clergy, and adult educational offerings. By fostering these areas, it not only enriches the spiritual life of the church but also strengthens community engagement and personal growth among its members.
Overall, the Elizabeth L. Battle Trust for St. Philip's Church serves as a crucial financial backbone, facilitating a sustained commitment to the church’s mission in Charleston, South Carolina, and enhancing its impact within the community.
This information is meant to be a general summary of Elizabeth L Battle Trust For St Philips Church. 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 2022.
- Investment Income: $16,614
- Gross Receipts: $6,797,045
Assets and Liabilities:
- Total Assets: $6,797,045
- Total Liabilities: $0
- Net Assets: $6,797,045
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Organization Details
Founding Year
2022
Principal Officer
Robert M Kunes
Main Address
142 CHURCH STREET, CHARLESTON, SC, 29401
NTEE Category
Code: X11 - Religion related
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