Clellan Prewitt Charitable Remainder

SOMERSET, KY EIN: 31-1540242

Clellan Prewitt Charitable Remainder is a private foundation, based in SOMERSET, KY. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $374K in total assets. In 2024, it awarded 2 grants totaling $17K. Net investment income was $60K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$374K

+12.7% YoY

Annual Giving

$17K

-9.5% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$8K

-9.5% YoY

Under IRS private-foundation payout rules, Clellan Prewitt Charitable Remainder reported a distributable amount of $19K for 2024 — the minimum it must pay out in qualifying distributions.

About Clellan Prewitt Charitable Remainder

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Kentucky $94K (100%)

States

Kentucky

Cities

Somerset

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$373,631	$331,607	$339,473
Revenue	$68,653	$20,025	$11,290
Expenses	$26,629	$27,891	$31,291
Qualifying Distributions	$18,228	$19,908	$21,553
Net Investment Income	$60,270	$12,129	$2,545
Distributable Amount	$19,125	$18,138	$19,925

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 2 recipients in 2024

Grant Size Distribution

10 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Somerset Community College ($8,779), First Christian Church ($8,030).

Recipient	Purpose	Amount
FIRST CHRISTIAN CHURCH SOMERSET, KY	MISSIONS	$8,030
SOMERSET COMMUNITY COLLEGE SOMERSET, KY	SCHOLARSHIPS	$8,779

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
CUMBERLAND SECURITY BANK ASSET MGMT	TRUSTEE	2	$6,944

Frequently Asked Questions

How large is Clellan Prewitt Charitable Remainder?

As of 2024, Clellan Prewitt Charitable Remainder holds $374K in total assets with $69K in annual revenue. It awarded 2 grants totaling $17K in 2024.

Where does Clellan Prewitt Charitable Remainder operate?

Clellan Prewitt Charitable Remainder has awarded grants in Kentucky.

What size grants does Clellan Prewitt Charitable Remainder award?

In 2024, Clellan Prewitt Charitable Remainder awarded 2 grants totaling $17K — an average of about $8K per grant, based on its IRS Form 990 filings.

How much is Clellan Prewitt Charitable Remainder required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Clellan Prewitt Charitable Remainder reported a distributable amount of $19K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

What is Clellan Prewitt Charitable Remainder's EIN?

Clellan Prewitt Charitable Remainder's EIN (Employer Identification Number) is 31-1540242. IRS Form 990 filing data is available on this page for 2019–2024.