Velma McKinnon Scholarship Trust
Velma McKinnon Scholarship Trust is a private foundation, based in Birmingham, AL. IRS filing data is available from 2021 through 2024. In 2024, it awarded 1 grant totaling $105K. Net investment income was $5K.
Velma McKinnon Scholarship Trust at a glance
In short: Velma McKinnon Scholarship Trust gave $105K across 1 grant in 2024 (avg $105K), mostly in Illinois. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $105,000
- +2108.2% vs 2023
- Grants made (2024)
- 1
- +0.0% vs 2023
- Average grant
- $105,000
- +2108.2% vs 2023
- Median grant
- $105,000
- Primary geography
- Illinois (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Velma McKinnon Scholarship Trust funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was John a Logan College ($105K).
Grant Size Distribution
4 grants across all recorded years
The most common grant size was under $50K: 3 grants of 4 (75%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
States
Cities
How Velma McKinnon Scholarship Trust gives
- Giving grew 2489% from 2021 to 2024. Method
- In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2024, annual grant giving ranged from $4K (2021) to $105K (2024). In 2024 it made 1 grant totaling $105K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| John a Logan College Carterville, IL | Scholarships | $105,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | — | $7,155 | $109,648 | $105,000 | 1 | $107,538 | $5,029 | $5,180 |
| 2023 | $104,961 | $3,777 | $7,990 | $4,755 | 1 | $6,194 | $2,022 | $5,272 |
| 2022 | $109,174 | $6,591 | $7,783 | $4,621 | 1 | $6,029 | $4,931 | $6,163 |
| 2021 | $110,304 | $5,839 | $7,140 | $4,055 | 1 | — | $4,180 | $6,048 |
Under IRS private-foundation payout rules, Velma McKinnon Scholarship Trust reported a distributable amount of $5K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Velma McKinnon Scholarship Trust's only listed officer is Regions Bank, Trustee on every filing since 2021 (compensated).
Officers on the 2024 filing
Regions Bank
Trustee
On filings since 2021
1 hr/week
$2K (2021) → $3K (2024)
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $3K, to Regions Bank (Trustee).
Frequently asked questions about Velma McKinnon Scholarship Trust
How much does Velma McKinnon Scholarship Trust give each year?
Velma McKinnon Scholarship Trust gave $105K across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $5K across 1 grant.
Where does Velma McKinnon Scholarship Trust operate?
Velma McKinnon Scholarship Trust has awarded grants in Illinois.
How much is Velma McKinnon Scholarship Trust required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Velma McKinnon Scholarship Trust reported a distributable amount of $5K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Velma McKinnon Scholarship Trust's EIN?
Velma McKinnon Scholarship Trust's EIN (Employer Identification Number) is 72-6245758. IRS Form 990 filing data is available on this page for 2021–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
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