AGNES SMITH MCDOWELL TRUST 103 COURT STREET

EIN: 320186585 501(c)(3) Philanthropy & Grantmaking

CYNTHIANA, KY

Total Revenue
$232,277
Total Expenses
$299,768
Total Assets
$6,778,738
Net Assets
$6,778,738
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
KY
Principal Officer
JOHN R ARNOLD
Phone
8594894832
Tax Period
2023-01-01 to 2023-12-31

AGNES SMITH MCDOWELL TRUST 103 COURT STREET, founded in 2006, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $232K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $300K exceeded revenue, resulting in a 29% operating deficit.

Mission

AGNES MCDOWELL'S FARM WAS SUBDIVIDED INTO FIVE SEPARATE FARMS TO BE USED TO DEVELOP INNOVATIVE FARMING TECHNIQUES BY LOCAL "YOUNG FARMERS"

Program Service Accomplishments

Program 1

The purpose of the Trust was set forth by the will of Agnes McDowell & directed that improvements and expenses to the farm be done with the profits made from farm crops. A portion remaining is...

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The purpose of the Trust was set forth by the will of Agnes McDowell & directed that improvements and expenses to the farm be done with the profits made from farm crops. A portion remaining is allocated to Harrison County Board of Ed for the Vo-Ed classes. This year $30,000 was given for the high school classes which included implementation of AG classes being taught in the middle schools grades (6-8). The allocation also assisted students with trips, fees, on-site farming, computer software and more.

Program 2
Expenses: $253,406 Revenue: $232,277

The farm land left by the will of Agnes McDowell has been divided into five tracts and seven young local farmers are using the land for corn, soybeans, tobacco, hay, and cattle for themselves. The...

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The farm land left by the will of Agnes McDowell has been divided into five tracts and seven young local farmers are using the land for corn, soybeans, tobacco, hay, and cattle for themselves. The trust has a landlord/tenant relationship in which these farmers may farm for a period of 8 years and the Trust pays a portion of the expenses in return for a percentage of the profits.The farm did trade 115.95 acres of farm land to set up solar panels in exchange for 360.474 acres adjoining McDowell. Once clearing timber (producing income), the land will provide the Trust the opportunity to offer another tract to a young farmer in the community.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $192,785
Investment Income $29,927
Other Revenue $9,565
TOTAL REVENUE $232,277

Expense Breakdown

Grants Paid $30,000
Salaries & Benefits $28,833
Fundraising Expenses $0
Program Expenses $253,406
Other Expenses $240,935
TOTAL EXPENSES $299,768

Year-over-Year Comparison

2023 2022 Change
Revenue $232,277 $261,223 -0.1%
Expenses $299,768 $264,542 +0.1%
Net Income $-67,491 $-3,319 +19.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
1
Independent Members
1
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN R ARNOLD Trustee 15.00
$40,275 $0 $40,275
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $232,277 $299,768 $6,778,738 $-67,491
2022 $261,223 $264,542 $5,307,081 $-3,319
2021 $351,419 $228,345 $5,310,400 $123,074
2020 $265,108 $231,028 $5,187,326 $34,080
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