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Lulu Rae Young Residual Charitable Trust is a private trust based in SOUTH BEND, IN. The foundation received its IRS ruling in 1972. The principal officer is 1st Source Bank. It holds total assets of $445K. Annual income is reported at $50K. Total assets have grown from $351K in 2011 to $440K in 2023. The foundation is governed by 1 officer or trustee. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2018 to 2023. According to available records, Lulu Rae Young Residual Charitable Trust has made 6 grants totaling $78K, with a median grant of $13K. The foundation has distributed between $26K and $26K annually from 2021 to 2023. Individual grants have ranged from $150 to $26K, with an average award of $13K. The foundation has supported 3 unique organizations. Grant recipients are concentrated in Indiana. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Lulu Rae Young Residual Charitable Trust is a private foundation that provides grants to eligible organizations. Based on available records, the foundation has funded 6 grants. Its grantmaking reaches organizations primarily in IN.
Lulu Rae Young Residual Charitable Trust has distributed a total of $78K across 6 grants. The median grant size is $13K, with an average of $13K. Individual grants have ranged from $150 to $26K.
Lulu Rae Young Residual Charitable Trust typically selects its grantees rather than accepting unsolicited proposals.
Lulu Rae Young Residual Charitable Trust is headquartered in SOUTH BEND, IN.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| 1st Source Bank | TRUSTEE | $5K | $0 | $5K |
Total Giving
$34K
Total Assets
$440K
Fair Market Value
$522K
Net Worth
$440K
Grants Paid
$26K
Contributions
N/A
Net Investment Income
$8K
Distribution Amount
$25K
Total: $440K
Total Grants
6
Total Giving
$78K
Average Grant
$13K
Median Grant
$13K
Unique Recipients
3
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| First United Methodist ChurchGENERAL SUPPORT | South Bend, IN | $150 | 2023 |
| Manchester UniversitySCHOLARSHIPS | North Manchester, IN | $26K | 2023 |
| 1st United Methodist Trinity ChurchGENERAL SUPPORT | South Bend, IN | $150 | 2022 |