Nonprofit · EIN 48-1070866
WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND
Tax-exempt · PAOLA, KS 66071
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990-PF | $57,396 | $96,184 | -$38,788 | $1,362,336 | $0 | $1,362,336 |
| June 30, 2024 | 990-PF | $86,811 | $62,746 | $24,065 | $1,381,930 | $0 | $1,381,930 |
| June 30, 2022 | 990-PF | $71,262 | $88,887 | -$17,625 | $1,363,869 | $0 | $1,363,869 |
Financial details: 990-PF for the year ended June 30, 2025
Revenue
- Dividends
- $60,188
- Interest
- $1,674
- Net gain from sales of assets
- -$4,968
- Other income
- $502
Expenses
- Grants and similar amounts paid
- $69,500
- Compensation of officers, directors and key employees
- $24,682
- Disbursements for charitable purposes
- $84,395
- Excise tax on investment income
- $847
Balance sheet and other
- Total assets, start of year
- $1,381,930
- Total assets, end of year
- $1,362,336
- Total liabilities, end of year
- $0
- Net assets, end of year
- $1,362,336
- Fair market value of assets
- $1,427,692
- Qualifying distributions
- $84,395
- Net investment income
- $61,862
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FIRST OPTION BANK FIRST OPTION BANK 702 BAPTISTE, 702 BAPTISTE, PAOLA, KS 66071 | TRUSTEE | 5 | $24,682 |
990-PF for the year ended June 30, 2024: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FIRST OPTION BANK FIRST OPTION BANK 702 BAPTISTE, 702 BAPTISTE, PAOLA, KS 66071 | TRUSTEE | 2 | $23,292 |
990-PF for the year ended June 30, 2022: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| FIRST OPTION BANK FIRST OPTION BANK 702 BAPTISTE, 702 BAPTISTE, PAOLA, KS 66071 | TRUSTEE | 3 | $26,293 |
Address and contacts
- Address (IRS master file)
- PO BOX B, PAOLA, KS 66071-0702
- In care of
- % FIRST OPTION BANK
- Signed the 990-PF
- FIRST OPTION BANK, TRUSTEE
- Phone
- (913) 259-2110
- Return prepared by
- JARRED GILMORE & PHILLIPS PA
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990-PF on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990-PF on file |
IRS record
- EIN
- 48-1070866
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1990
- Accounting year ends
- June
- Files
- Form 990-PF
- Assets (IRS master file)
- $1,362,336
- Income (IRS master file)
- $730,517
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | June 2025 | $57,396 | $96,184 | $1,362,336 | IRS |
| 990-PF | June 2024 | $86,811 | $62,746 | $1,381,930 | XML |
| 990-PF | June 2023 | – | – | – | IRS |
| 990-PF | June 2022 | $71,262 | $88,887 | $1,363,869 | XML |
| 990-PF | June 2021 | – | – | – | IRS |
| 990-PF | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 48-1070866).
Questions about WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND
- What is the EIN of WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND?
- The employer identification number (EIN) of WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND is 48-1070866.
- Is WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND file?
- Form 990-PF. Private foundations file every year.
- When is the next return of WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended June 2025.
- Who are the officers and directors of WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND?
- The 990-PF for the year ended June 30, 2025 lists 1 person; 1 received compensation from the organization, the highest $24,682 (FIRST OPTION BANK FIRST OPTION BANK, TRUSTEE).
- How much revenue does WILLIAM PRESTON & BELVAH MCFADDEN SCHOLARSHIP FUND have?
- On its 990-PF for the year ended June 30, 2025 it reported revenue of $57,396, expenses of $96,184 and total assets of $1,362,336 at year end.
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