Overview
What is Jfc Weisberg Mortimer Memorial Fund?
The Jfc Weisberg Mortimer Memorial Fund is a charitable organization, located in Brooklyn, Ohio (4900 Tiedeman Road). Its primary mission is to provide financial aid for deserving students pursuing undergraduate or postgraduate studies. The fund, overseen by Keybank as a trustee, distributes grants to the Jewish Federation of Cleveland in accordance with a Trust Agreement from 1972. Under the Ohio Institutional Trust Funds Act of 1999, the fund's beneficiaries receive income based on the higher of 5% of the asset's value or traditional income. Keybank ensures that its distributions align with the Jewish Federation of Cleveland's objectives, thereby contributing to the education and upliftment of its beneficiaries.
Is Jfc Weisberg Mortimer Memorial Fund legitimate?
Jfc Weisberg Mortimer Memorial Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jfc Weisberg Mortimer Memorial Fund 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: $57,149
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Jfc Weisberg Mortimer Memorial Fund?
The Jfc Weisberg Mortimer Memorial Fund, as outlined in its Trust Agreement from 1970 and 1972, focuses on providing financial aid to deserving students pursuing undergraduate and post-graduate studies. Under the Ohio Institutional Trust Funds Act of 1999, the fund's beneficiaries opt for the maximum income, calculated based on either 5% of the adjusted net asset value (AFV) or traditional income methods. The fund's trustee, Keybank, maintains a commitment to supporting the Jewish Federation of Cleveland in its mission, demonstrating responsiveness to its needs and activities. The primary goal of the Jfc Weisberg Mortimer Memorial Fund is to contribute to the education of deserving students, thereby furthering the beneficiary organization's mission.
Who is the CEO of Jfc Weisberg Mortimer Memorial Fund?
Unavailable
What is the revenue of Jfc Weisberg Mortimer Memorial Fund?
Jfc Weisberg Mortimer Memorial Fund's revenue in 2022 was $659,512.
Who are the executives of Jfc Weisberg Mortimer Memorial Fund and what are their salaries?
There is 1 key member and their salary:
- Compensation: $57,149
- Related: $0
- Other: $0
Where can I find the form 990 for Jfc Weisberg Mortimer Memorial Fund?
Jfc Weisberg Mortimer Memorial Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Jfc Weisberg Mortimer Memorial Fund
The Jfc Weisberg Mortimer Memorial Fund is a philanthropic organization that adheres to the terms set out in a Trust Agreement dated back to 1972, with subsequent revisions in 1972. The primary objective of this fund is to provide financial assistance to needy and deserving students pursuing undergraduate and post-graduate studies. The fund's distributions are overseen by Keybank, acting as the Trustee, and are channeled to the Jewish Federation of Cleveland.
Under the Ohio Institutional Trust Funds Act of 1999, the fund's beneficiaries have chosen to maximize their income. This is achieved by receiving the higher of two options: 5% of the fund's annual value or the traditional income amount. In addition, Keybank maintains a level of responsiveness to the Jewish Federation of Cleveland's needs and activities, ensuring the fund's resources contribute effectively towards the fulfillment of the Federation's mission. This responsiveness allows the fund to adapt and adjust its distributions as needed, ensuring continued relevance and support for the education of deserving students.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Jfc Weisberg Mortimer Memorial Fund significantly impacts the educational landscape for needy and worthy students pursuing undergraduate and postgraduate studies. By providing grants to the Jewish Federation of Cleveland, the fund directly supports scholarship opportunities that alleviate financial burdens, enabling students to focus on their academic goals without the hindrance of financial stress.
Through its structured distribution methodology, including adherence to the Trust Agreement established in 1970 and its adjustments in 1972, the fund ensures that resources are allocated effectively. This strategic financial management, responsive to the needs of the Jewish Federation of Cleveland, maximizes the benefits available to students. With distributions based on a percentage of the fund's average fair value or traditional income, it offers a robust framework for sustainable scholarship funding.
The fund’s commitment to enhancing accessibility to education fosters inclusivity and supports the development of future leaders, reinforcing the value of philanthropy in education. Overall, the Jfc Weisberg Mortimer Memorial Fund plays a crucial role in promoting educational equity and empowering students within the community.
This information is meant to be a general summary of Jfc Weisberg Mortimer Memorial Fund. 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: $659,512
- Gross Receipts: $1,781,922
Assets and Liabilities:
- Total Assets: $7,778,952
- Total Liabilities: $0
- Net Assets: $7,778,952
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1970
Phone
(216) 689-7663Main Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH, 44144
NTEE Category
Code: T11 - Philanthropy
If you are a representative of Jfc Weisberg Mortimer Memorial Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.