Ensign Joseph Sherwood Mayo Demolay Loan Fund

Provider of low cost and interest free Student Loans. The Ensign Joseph Sherwood Mayo Demolay Loan Fund has only this one Program Service. No Charity Contribtions were made by Ensign Mayo for fiscal year end June 30 2019.

The Ensign Joseph Sherwood Mayo Demolay Loan Fund organization has only one direct charitable activity. The Ensign Joseph serwood Mayo Demolay Loan Fund is a provider of low cost and interest free student loans. For this fiscal year it provided 10 new student loans totaling $60,000.00. (screen 9)

The Ensign Joseph Sherwood Mayo Demolay Loan Fund organization has only one direct charitable activity. The Ensign Joseph serwood Mayo Demolay Loan Fund is a provider of low cost and interest free student loans. For this fiscal year its book's, profit and loss statement incurred total expenses of $79,864.09, not including its issuance of 10 new student loans, resulting in a net profit of $272,923.53. (screen 9)

All income generated support the organization's mission of providing low cost and interest free student loans. Form 990-pf part xv-a line 13 total is held and reinvested by the Ensign Mayo Joseph Sherwood Mayo Demolay Loan Fund into its publicly traded securities broker, stifel nicolaus & company, inc. and/or the organization's operational checking account and is the primary means the organization can fullfill its philanthropic mission to offer interest free student loans. No other income is generated by the organization's operation, other than public donations and rare student late fees. Students begin repaying their loans three month's after graduation with low cost monthly repayment amounts and no interest. These student repayments aid this masonic organization's cash flow to offer other students new loans.