2024-05-13T10:58:27-04:00 2023-12-31 421029744 TDT CPAS AND ADVISORS PC 317 HIGH AVE E OSKALOOSA IA 525772823 990 2023-01-01 426613277 BLANCHE JOHNSON TRUST BLAN 3192485146 PO BOX 1700 IOWA CITY IA 52240 MIDWESTONE BANK TRUSTEE 3192485146 2024-05-07 true SANDRA MORROW XXX-XX-XXXX true DARCEE M AYERS CPA P00498801 6416722523 2024-05-07 2023 2023-04-26 12:10:37Z MIDWESTONE BANK PO BOX 1700 IOWA CITY IA 52244 628867 false X X 2000 IA SUPPORT WILLIAM PENN UNIVERSITY. 1 0 0 0 0 0 -112 9040 197161 211669 197049 220709 222118 242484 0 6459 5640 0 0 4948 4733 233525 252857 -36476 -32148 2319618 2287471 1251 1252 2318367 2286219 SUPPORT WILLIAM PENN UNIVERSITY. false false 242484 242484 DISTRIBUTED ALL FARM AND INVESTMENT INCOME TO WILLIAM PENN UNIVERSITY. 242484 true false false false false false false false false false true false false false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 1 0 false false false false false false false true true false false true true true true true true true false false X X MIDWESTONE BANK TRUSTEE 3192485146 PO BOX 1700 IOWA CITY IA 52244 MIDWESTONE BANK TRUSTEE 3.00 X 48189 0 0 48189 false false false 30899 30899 328089 116420 211669 211669 211669 267924 1955 291738 -23814 1955 -21859 -21859 220709 220709 242484 242484 5640 5640 743 743 2110 2110 1880 1880 252857 242484 10373 0 213407 244203 1598817 232488 1365329 1366329 740882 676939 2319618 2287471 1251 1252 1251 1252 X 2318367 2286219 2318367 2286219 2319618 2287471 -32148 X false false false X X X 1 WILLIAM PENN UNIVERSITY 420707120 2 true 242484 0 1 242484 0 true false false false false false false false false false false false false false false true false true 0 0 0 170089 189810 170089 189810 0 0 11407 10373 0 0 158682 179437 729244 655264 119436 108711 5400000 5800000 6248680 6563975 1565120 0 0 6248680 6563975 93730 98460 6154950 6465515 215423 226293 0 215423 226293 158682 134880 215423 215423 0 215423 242484 0 10373 0 0 0 252857 242484 215423 1.000000000000 215423 0 0 0 0 120086 233525 353611 0 215423 0 138188 252857 0 252857 0 0 391045 0 0 0 138188 252857 PART IV, SECTION D, LINE 2 SUPPORTED ORGANIZATION IS PROVIDED QUARTERLY FINANCIAL STATEMENTS FOLLOWED BY PERIODIC COMMUNICATION REGARDING TRUST ACTIVITY. ANNUALLY THE SUPPORTED ORGANIZATION HAS CONTACT WITH THE TRUSTEE OF THE SUPPORTING ORGANIZATION TO REVIEW FARM MARKET TRENDS AND HOW THEY ARE IMPACTING RENTAL INCOME RATES. RENTAL INCOME IS THE MAJORITY OF THE INCOME GENERATED BY THE SUPPORTING ORGANIZATION. THE SUPPORTED ORGANIZATION'S AUDITORS ALSO CONTACT THE SUPPORTING ORGANIZATION TO TEST INVESTMENTS AND CONTROLS EXISTING BETWEEN THE TWO ORGANIZATIONS. PART IV, SECTION D, LINE 3 THE SUPPORTED ORGANIZATION'S BOARD HAS THE POWER TO INFLUENCE INVESTMENT MIX INCLUDING THE INVESTMENT PORTFOLIO WHICH IS CURRENTLY 80% FIXED INCOME AND 20% EQUITY PER THE 2023 REPORT PROVIDED TO THE SUPPORTED ORGANIZATION. RENTAL REAL ESTATE LEASES ARE ALSO PROVIDED AND APPROVED BY THE SUPPORTED ORGANIZATION. THE SUPPORTED ORGANIZATION RELYS ON THE DISTRIBUTIONS FROM THE TRUST TO FUND SCHOLARSHIPS WHICH ARE SPECIFICALLY PROVIDED FOR IN THE SUPPORTING ORGANIZATION'S BUDGET. PART V, SECTION B, LINE 1E THE OTHER NON-EXEMPT USE ASSETS IS FARMLAND. PER THE TERMS OF THE TRUST AGREEMENT, THE FARMLAND MAY NOT EVER BE SOLD. CONSEQUENTLY, AN APPRAISAL OF THE FARMLAND BASED ON COMPRABLE SALES SEEMS OVERSTATED. MARKET VALUE HAS BEEN CALCULATED BASED ON PRESENT VALUE OF NET CASH FLOW FROM THE FARMING ACTIVITY. THE CALCULATION RESULTED IN A 2023 DISCOUNT OF 1,565,120. PART V, SECTION D, LINE 8 DISTRIBUTIONS TO COLLEGE NAMED IN THE ORGANIZATIONAL DOCUMENTS WHO RELY ON THE CONTRIBUTION TO FUND THEIR SCHOLARSHIP PROGRAM. THE SCHOLARSHIP AND ESTIMATED REVENUES ARE INCLUDED IN THE COLLEGE ANNUAL BUDGET. 1290418 1290418 208689 174037 34652 99710 58451 41259 1366329 true WILLIAM PENN UNIVERSITY NORTH MARKET AND TRUEBLOOD AVE OSKALOOSA IA 52577 420707120 501C3 242484 ANNUAL DISTRIBUTION 1 SCHEDULE I, PAGE 1, PART I, LINE 2 TRUST DOCUMENT REQUIRES NET INCOME BE DISTRIBUTED TO THIS CHARITY FOR SCHOLARSHIP OR OTHER PURPOSES. TRUSTEE DOES MEET WITH CHARITY PERIODICALLY TO REVIEW THE TRUST ADMINISTRATION WITH THE SUPPORTED ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 11B DRAFT OF FROM 990 IS REVIEWED BY SANDRA MORROW, VICE PRESIDENT OF TRUST SERVICES FOR MIDWESTONE BANK, THE INSTITUTIONAL TRUSTEE. A COPY OF FORM 990 WILL ALSO BE PROVIDED TO THE BENEFICIARY THIS ORGANIZATION SUPPORTS. FORM 990, PAGE 6, PART VI, LINE 12C MIDWESTONE BANK, THE INSTITUTIONAL TRUSTEE, HAS A CONFLICT OF INTEREST POLICY IN PLACE FOR ALL ENTITIES THEY MANAGE. ALL CONFLICTS ARE MONITORED THROUGH THEIR POLICIES AND PROCEDURES. FORM 990, PAGE 6, PART VI, LINE 15A FEES FOR THE INSTITUTIONAL TRUSTEE ARE COMPUTED PER FIXED SCHEDULE APPLIED TO ALL ENTITIES THEY MANAGE. THESE FEES ARE ALSO APPROVED BY THE IOWA DISTRICT COURT AND THE SUPPORTED ORGANIZATIONS BEFORE PAYMENT. FORM 990, PAGE 6, PART VI, LINE 19 THE INSTITUTIONAL TRUSTEES POLICIES AND PROCEDURES WOULD BE AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS ARE FILED WITH THE IOWA DISTRICT COURT ON AN ANNUAL BASIS. THESE ARE PUBLIC RECORDS. WILLIAM PENN UNIVERSITY NORTH MARKET AND TRUEBLOOD AVE OSKALOOSA IA 52577 420707120 COLLEGE IA 501C3 2 N/A false false true false false false false false false false false false false false false false false false false false WILLIAM PENN UNIVERSITY B 242484 CASH