Franklin E & Martha Covington King Memoria Tr

Greenwood, SC
Tax-exempt since March 2019
EIN: 58-6347523

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Scholarships, Student Financial Aid Services, Awards (NTEE)

Donations to this organization are tax deductible.

Revenue

$30.2k (2025)

Expenses

$7.23k (2025)

Total Assets

$305k (2025)

Total Liabilities

$0 (2025)

Source: Form 990 tax filings from 2012 to 2025

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2025

Revenue

$30,186

Expenses

$7,230

Net Income

$22,956

Net Assets

$304,787

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$9,375	31.1%
Sales of Assets	$20,811	68.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$3,454	47.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$304,787
Total Liabilities	$0
Net Assets	$304,787

Compensation

Key Employees and Officers	Compensation	Other
The Lander Foundation (Trustee)	$0	$0
Margaret B Welch (Trustee)	$0	$0
James Welch (Trustee)	$0	$0

990-PF

Filed on Nov. 6, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2024

Revenue

$17,229

Expenses

$23,279

Net Income

-$6,050

Net Assets

$297,933

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$9,062	52.6%
Sales of Assets	$8,167	47.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$3,294	14.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$297,933
Total Liabilities	$0
Net Assets	$297,933

Compensation

Key Employees and Officers	Compensation	Other
The Lander Foundation (Trustee)	$0	$0
Margaret B Welch (Trustee)	$0	$0
James Welch (Trustee)	$0	$0

990-PF

Filed on Sept. 6, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2023

Revenue

$8,442

Expenses

$25,786

Net Income

-$17,344

Net Assets

$303,814

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$7,666	90.8%
Sales of Assets	$776	9.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$18,159	70.4%
Compensation of Officers*	$3,400	13.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$303,814
Total Liabilities	$0
Net Assets	$303,814

Compensation

Key Employees and Officers	Compensation	Other
The Lander Foundation (Trustee)	$0	$0
Margaret B Welch (Trustee)	$0	$0
James Welch (Trustee)	$0	$0

990-PF

Filed on Nov. 7, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2022

Revenue

$39,216

Expenses

$36,414

Net Income

$2,802

Net Assets

$321,158

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$7,119	18.2%
Sales of Assets	$32,097	81.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$27,260	74.9%
Compensation of Officers*	$4,144	11.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$321,158
Total Liabilities	$0
Net Assets	$321,158

Compensation

Key Employees and Officers	Compensation	Other
The Lander Foundation (Trustee)	$0	$0
Margaret B Welch (Trustee)	$0	$0
James Welch (Trustee)	$0	$0

990-PF

Filed on Nov. 15, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2021

Revenue

$55,292

Expenses

$25,142

Net Income

$30,150

Net Assets

$318,356

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,784	12.3%
Sales of Assets	$48,508	87.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,502	69.6%
Compensation of Officers*	$3,474	13.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$318,356
Total Liabilities	$0
Net Assets	$318,356

Compensation

Key Employees and Officers	Compensation	Other
Margaret B Welch (Trustee)	$1,737	$0
James Welch (Trustee)	$1,737	$0
The Lander Foundation (Trustee)	$0	$0

990-PF

Filed on May 16, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2020

Revenue

$18,407

Expenses

$26,082

Net Income

-$7,675

Net Assets

$288,205

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$8,544	46.4%
Sales of Assets	$9,851	53.5%
Other Income	$12	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$18,367	70.4%
Compensation of Officers*	$3,721	14.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$288,206
Total Liabilities	$1
Net Assets	$288,205

Compensation

Key Employees and Officers	Compensation	Other
James Welch (Trustee)	$1,861	$0
Margaret Baird Welch (Trustee)	$1,860	$0
The Lander Foundation (Trustee)	$0	$0

990-PF

Filed on Oct. 15, 2020

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Fiscal Year Ending June
2019

Revenue

$15,239

Expenses

$26,591

Net Income

-$11,352

Net Assets

$296,103

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$9,064	59.5%
Sales of Assets	$6,156	40.4%
Other Income	$19	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,797	66.9%
Compensation of Officers*	$3,790	14.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$313,900
Total Liabilities	$17,797
Net Assets	$296,103

Compensation

Key Employees and Officers	Compensation	Other
Margaret Baird Welch (Trustee)	$1,895	$0
James Welch (Trustee)	$1,895	$0
The Lander Foundation (Trustee)	$0	$0

990-PF

Filed on Nov. 18, 2019

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Fiscal Year Ending June
2018

Revenue

$25,845

Expenses

$25,315

Net Income

$530

Net Assets

$307,455

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$8,526	33.0%
Sales of Assets	$17,319	67.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,674	69.8%
Compensation of Officers*	$3,588	14.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$325,129
Total Liabilities	$17,674
Net Assets	$307,455

Compensation

Key Employees and Officers	Compensation	Other
Margaret Baird Welch (Trustee)	$1,794	$0
James Welch (Trustee)	$1,794	$0
The Lander Foundation (Institutional Trustee)	$0	$0

990-PF

Filed on Dec. 12, 2018

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Fiscal Year Ending June
2017

Revenue

$21,131

Expenses

$44,661

Net Income

-$23,530

Net Assets

$306,925

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$8,046	38.1%
Sales of Assets	$13,085	61.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$37,125	83.1%
Compensation of Officers*	$3,650	8.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$306,925
Total Liabilities	$0
Net Assets	$306,925

Compensation

Key Employees and Officers	Compensation	Other
Margaret Baird Welch (Trustee)	$1,825	$0
James Welch (Trustee)	$1,825	$0
The Lander Foundation (Institutional Trustee)	$0	$0

990-PF

Filed on Nov. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2016

Revenue

$41,544

Expenses

$25,678

Net Income

$15,866

Net Assets

$330,455

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,723	16.2%
Sales of Assets	$34,821	83.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,884	69.6%
Compensation of Officers*	$3,919	15.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$330,455
Total Liabilities	$0
Net Assets	$330,455

Compensation

Key Employees and Officers	Compensation	Other
Margaret Baird Welch (Trustee)	$1,960	$0
James Welch (Trustee)	$1,959	$0
The Lander Foundation (Institutional Trustee)	$0	$0

990-PF

Filed on Nov. 14, 2016

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Fiscal Year Ending June
2015

Revenue

$10,069

Expenses

$8,312

Net Income

$1,757

Net Assets

$314,589

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,385	63.4%
Sales of Assets	$3,684	36.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$3,896	46.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$314,589
Total Liabilities	$0
Net Assets	$314,589

Compensation

Key Employees and Officers	Compensation	Other
Margaret Baird Welch (Trustee)	$1,948	$0
James Welch (Trustee)	$1,948	$0
The Lander Foundation (Institutional Trustee)	$0	$0

990-PF

Filed on Nov. 16, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2014

Revenue

$27,692

Expenses

$24,444

Net Income

$3,248

Net Assets

$312,832

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,716	20.6%
Sales of Assets	$21,976	79.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$16,730	68.4%
Compensation of Officers*	$3,539	14.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$312,832
Total Liabilities	$0
Net Assets	$312,832

Compensation

Key Employees and Officers	Compensation	Other
Margaret Baird Welch (Trustee)	$0	$0
James S Welch (Trustee)	$0	$0
The Lander Foundation (Institutional Trustee)	$0	$0

990-PF

Filed on Nov. 17, 2014

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Fiscal Year Ending June
2013

Revenue

$21,549

Expenses

$24,232

Net Income

-$2,683

Net Assets

$309,583

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,084	28.2%
Sales of Assets	$15,465	71.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,141	70.7%
Compensation of Officers*	$3,382	14.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$309,584
Total Liabilities	$1
Net Assets	$309,583

990-PF

Filed on Jan. 10, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2012

Revenue

-$3,519

Expenses

$23,614

Net Income

-$27,133

Net Assets

$312,266

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,495
Dividends	$4,339
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$16,157	68.4%
Compensation of Officers*	$3,590	15.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$312,267
Total Liabilities	$1
Net Assets	$312,266

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Updated March 23, 2026

Franklin E & Martha Covington King Memoria Tr

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $30.2k (2025)

Expenses $7.23k (2025)

Total Assets $305k (2025)

Total Liabilities $0 (2025)

Tax Filings by Year

Fiscal Year Ending June 2025

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$30.2k (2025)

Expenses

$7.23k (2025)

Total Assets

$305k (2025)

Total Liabilities

$0 (2025)

Fiscal Year Ending June
2025

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2024

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2023

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2022

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2021

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2020

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2019

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2018

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2017

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2016

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2015

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2014

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2013

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2012

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2011

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2010

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2009

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2008

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2007

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2006

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2005

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2003

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2002