Overview
What is Cowdery Ruth S Fdn-Max Ta?
Cowdery Ruth S Fdn-Max Ta is a nonprofit organization with a focus on grant distribution. Based in Brooklyn, Ohio, the foundation follows a trust agreement dated June 2, 1981. The trust is managed by KeyBank, which distributes funds to three beneficiary organizations: Hiram College, UH Conneaut Medical Center, and Park Street Christian Church. Keybank ensures responsiveness to the needs and activities of each organization, considering any suggestions they may have. The foundation adheres to the Ohio Institutional Trust Funds Act of 1999, allowing it to receive the maximum income based on the greater of 5% of AFV or traditional income. The grants support the exempt purposes and mission of Hiram College, providing resources for its operations and growth.
Is Cowdery Ruth S Fdn-Max Ta legitimate?
Cowdery Ruth S Fdn-Max Ta is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cowdery Ruth S Fdn-Max Ta 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: $15,975
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Cowdery Ruth S Fdn-Max Ta?
The Cowdery Ruth S Fdn-Max Ta follows a mission as outlined in its trust agreement from 1981. KeyBank, acting as the trustee, distributes funds to three beneficiary organizations: Hiram College, UH Conneaut Medical Center, and Park Street Christian Church. The foundation maintains responsiveness to the needs and activities of each organization, ensuring they can contribute their insights and suggestions to KeyBank regarding the fund's administration and investments. KeyBank agrees to consider all suggestions and take necessary steps to ensure each organization has a significant voice in the trust. Under the Ohio Institutional Trust Funds Act of 1999, the beneficiary has chosen to receive the maximum income based on the greater of 5% of the adjusted net income value (AFV) or traditional income.
Who is the CEO of Cowdery Ruth S Fdn-Max Ta?
Unavailable
What is the revenue of Cowdery Ruth S Fdn-Max Ta?
Cowdery Ruth S Fdn-Max Ta's revenue in 2022 was -$6,497.
Who are the executives of Cowdery Ruth S Fdn-Max Ta and what are their salaries?
There is 1 key member and their salary:
- Compensation: $15,975
- Related: $0
- Other: $0
Where can I find the form 990 for Cowdery Ruth S Fdn-Max Ta?
Cowdery Ruth S Fdn-Max Ta's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cowdery Ruth S Fdn-Max Ta
Cowdery Ruth S Fdn-Max Ta, as per its trust agreement dated June 2, 1981, distributes grants according to its mission. KeyBank, acting as trustee, disburses funds to three beneficiary organizations: Hiram College, UH Conneaut Medical Center, and Park Street Christian Church. The foundation maintains a responsive approach to the needs and activities of each beneficiary, ensuring they can attain their respective missions. Each organization has the right to offer insights or suggestions to KeyBank regarding the administration or investments of the trust. Keybank considers these suggestions thoroughly and takes necessary steps to ensure the organizations have a significant voice in relation to 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 net asset value (AFV) or traditional income.
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Impact
October, 2024
The Cowdery Ruth S Fdn-Max Ta has a significant impact through its structured grant-making process, which directly supports three key organizations: Hiram College, UH Conneaut Medical Center, and Park Street Christian Church. This equitable distribution of resources—one-third to each entity—ensures that all beneficiaries can effectively pursue their respective missions.
Hiram College benefits from grants that foster its educational initiatives and programs, enhancing the learning environment and enriching student experiences. The support provided to UH Conneaut Medical Center contributes to healthcare services and access, benefiting the local community through improved medical facilities and care. Park Street Christian Church receives resources that help advance its community-focused mission, contributing to local outreach and support initiatives.
KeyBank, as the trustee, prioritizes the needs and insights of these organizations by maintaining an open channel for communication, allowing them to provide feedback regarding trust administration and investment strategies. This collaborative approach ensures that grant distributions are responsive to the evolving needs of each beneficiary, promoting sustainable impact and supporting their long-term objectives. Overall, the foundation plays a vital role in strengthening education, health, and community services in Brooklyn, Ohio, and beyond.
This information is meant to be a general summary of Cowdery Ruth S Fdn-Max Ta. 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: -$6,497
- Gross Receipts: $98,339
Assets and Liabilities:
- Total Assets: $1,708,771
- Total Liabilities: $0
- Net Assets: $1,708,771
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Organization Details
Founding Year
1981
Phone
(216) 689-7663Main Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH, 44144
NTEE Category
Code: Z99 - Unknown
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