Overview
What is Bertha Aiken Mcmyler Trust?
Bertha Aiken Mcmyler Trust is a philanthropic entity that donates funds to the Cleveland Museum of Art (CMA) for the maintenance and continuity of their Department of Musical Arts. As per the trust agreement dated March 1, 1922, KeyBank, serving as the trustee, distributes grants to the CMA in accordance with the trust's guidelines. KeyBank ensures responsiveness to the needs and activities of the beneficiary organization, allowing the CMA to offer suggestions regarding the administration or investments of the trust. Under the Ohio Institutional Trust Funds Act of 1999, the beneficiary has chosen to receive the maximum income, which is based on the greater of 5% of the adjusted fund value (AFV) or traditional income. The Bertha Aiken Mcmyler Trust's primary objective is to support the CMA's Department of Musical Arts, fostering its growth and development.
Is Bertha Aiken Mcmyler Trust legitimate?
Bertha Aiken Mcmyler Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bertha Aiken Mcmyler Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,388
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Bertha Aiken Mcmyler Trust?
The Bertha Aiken McMyler Trust distributes funds in accordance with its agreement dated March 1, 1922. KeyBank, serving as the trustee, provides financial support to the Cleveland Museum of Art (CMA) for the maintenance and perpetuation of its Department of Musical Arts. KeyBank remains responsive to the needs and activities of each beneficiary organization, ensuring they achieve their respective missions. The CMA has the right to offer suggestions regarding the administration and investments of the trust, which KeyBank considers thoughtfully. KeyBank is committed to guaranteeing that the CMA maintains a significant influence over the trust, as per the Ohio Institutional Trust Funds Act of 1999. The beneficiary organization has chosen to receive the maximum income, based on the greater of 5% of AFV or traditional income.
Who is the CEO of Bertha Aiken Mcmyler Trust?
Unavailable
What is the revenue of Bertha Aiken Mcmyler Trust?
Bertha Aiken Mcmyler Trust's revenue in 2022 was $98,396.
Who are the executives of Bertha Aiken Mcmyler Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $3,388
- Related: $0
- Other: $0
Where can I find the form 990 for Bertha Aiken Mcmyler Trust?
Bertha Aiken Mcmyler Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bertha Aiken Mcmyler Trust
The Bertha Aiken McMyler Trust, established in 1922, is a philanthropic organization that distributes funds according to its trust agreement. KeyBank, acting as the trustee, makes contributions to the Cleveland Museum of Art (CMA) to support and preserve its Department of Musical Arts. The trust maintains a responsive approach towards the needs and activities of each beneficiary organization, ensuring their mission's fulfillment. The CMA is granted the right to offer insights and suggestions to KeyBank regarding the administration or investments of the trust. Keybank takes these suggestions into account and takes necessary steps to ensure that the CMA has a significant voice in the trust's management, as per the Ohio Institutional Trust Funds Act of 1999. The beneficiary organization has chosen to receive the maximum income based on the greater of 5% of the annual funding value (AFV) or traditional income.
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Impact
October, 2024
The Bertha Aiken McMyler Trust significantly supports the Cleveland Museum of Art's Department of Musical Arts by providing essential funding that ensures its maintenance and growth. Established under a trust agreement in 1922, it facilitates the museum's mission to preserve and promote musical arts within the community.
KeyBank acts as the trustee, ensuring that the trust's distributions align with the museum's evolving needs and activities. The CMA is empowered to share insights and suggestions regarding the administration and investment of the trust, fostering a collaborative relationship that enhances the effectiveness of the funding provided. This partnership allows the museum to continue enriching the cultural landscape through music and related programming, ensuring that the Department of Musical Arts thrives and remains accessible to the public.
By adhering to the framework established by the Ohio Institutional Trust Funds Act, the trust maximizes its income to benefit the CMA, allowing for sustained investment in musical arts at the museum. This not only preserves the legacy of musical education and appreciation but also engages the community in meaningful cultural experiences. Overall, the trust's impact is deeply woven into the fabric of the museum, reinforcing its role as a vital institution for the arts in the region.
This information is meant to be a general summary of Bertha Aiken Mcmyler Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $98,396
- Gross Receipts: $181,787
Assets and Liabilities:
- Total Assets: $1,764,149
- Total Liabilities: $0
- Net Assets: $1,764,149
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Organization Details
Founding Year
1922
Phone
(216) 689-7538Main Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH, 44144
NTEE Category
Code: A50 - Arts
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