Overview
What is Swallen Cj & G Msnary Ed Sch Fd?
Swallen Cj & G Msnary Ed Sch Fd is a nonprofit organization, as indicated by the information provided. The organization, located in Ohio, contributes to scholarships through grants, specifically divided among Malone College, Goshen College, and Andrews University, according to a trust agreement from 1989. Under the Ohio Institutional Trust Funds Act of 1999, the beneficiaries choose to receive the maximum income, which is the greater of 5% of the adjusted gross value (AFV) or traditional income. KeyBank, acting as the trustee, is responsible for distributing these grants and maintaining a responsiveness to the needs and activities of each beneficiary organization in achieving their respective missions. The charities also have the right to remove the trustee and the trustee has the authority to amend the document to ensure continuation as a 509(a)3 organization.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (53%)
Swallen Cj & G Msnary Ed Sch Fd has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The charity's overall score is primarily based on its accountability and finance score of 53%. This score reflects various factors, including the absence of independent board members, which raises questions about governance and oversight.
The charity does demonstrate some strengths, particularly in its program expense ratio, which stands at 81.75%. This suggests that a substantial portion of its funds is directed toward its stated mission rather than administrative costs. However, the lack of independent board oversight and missing policies related to conflict of interest and whistleblower protections are notable weaknesses that could impact the charity's effectiveness and transparency.
Additionally, the organization's failure to provide a website and post essential documents, such as its tax form and meeting minutes, further contributes to its low rating. These issues may deter potential donors who prioritize transparency and accountability when selecting nonprofit organizations to support.
This AI summary has been generated from information found on Charity Navigator.
Is Swallen Cj & G Msnary Ed Sch Fd legitimate?
Swallen Cj & G Msnary Ed Sch Fd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Swallen Cj & G Msnary Ed Sch Fd 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: $29,927
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Swallen Cj & G Msnary Ed Sch Fd?
Swallen Cj & G Msnary Ed Sch Fd, as per the trust agreement dated October 22, 1987, distributes funds to three beneficiary organizations: Malone College, Goshen College, and Andrews University. The distribution is based on a 33.33% share for each institution. Under the Ohio Institutional Trust Funds Act of 1999, the beneficiaries opt for the maximum income, which is based on the greater of 5% of Adjusted Net Income (AFV) or traditional income. KeyBank, serving as the trustee, ensures responsiveness to the needs and activities of each beneficiary organization in the pursuit of its mission. The charities retain the right to remove the trustee, and the trustee has the authority to amend the document to maintain its qualification as a 509(a)3. While this information does not explicitly state a mission statement for Swallen Cj & G Msnary Ed Sch Fd, it suggests that the primary role of the fund is to provide financial support to the designated beneficiary organizations, allowing them to fulfill their respective missions.
Who is the CEO of Swallen Cj & G Msnary Ed Sch Fd?
Unavailable
What is the revenue of Swallen Cj & G Msnary Ed Sch Fd?
Swallen Cj & G Msnary Ed Sch Fd's revenue in 2022 was $102,946.
Who are the executives of Swallen Cj & G Msnary Ed Sch Fd and what are their salaries?
There is 1 key member and their salary:
- Compensation: $29,927
- Related: $0
- Other: $0
Where can I find the form 990 for Swallen Cj & G Msnary Ed Sch Fd?
Swallen Cj & G Msnary Ed Sch Fd's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Swallen Cj & G Msnary Ed Sch Fd
Swallen Cj & G Msnary Ed Sch Fd, a charitable organization, adheres to a trust agreement dated October 22, 1987. KeyBank, as the trustee, distributes funds according to this agreement, with 33.333% allocated to Malone College, 33.333% to Goshen College, and the remaining 33.334% to Andrews University. The beneficiary charities have chosen to receive the maximum income, which is based on the greater of 5% of the adjusted net assets value (AFV) or traditional income, as per the Ohio Institutional Trust Funds Act of 1999. KeyBank demonstrates responsiveness to the needs and activities of each beneficiary organization, ensuring they can fulfill their respective missions effectively. It is essential to note that the charities retain the right to remove the trustee, and the trustee has the authority to amend the document to maintain its qualification as a 509(a)3 organization.
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Impact
October, 2024
Swallen CJ & G Msnary Ed Sch Fd significantly impacts higher education institutions by providing financial support through grants allocated to Malone College, Goshen College, and Andrews University. Each of these institutions receives a substantial portion of the fund, with distributions divided almost evenly to ensure a balanced contribution to their educational missions.
The grants primarily fund scholarships, which play a crucial role in making higher education accessible to a broader range of students. By alleviating financial burdens, these scholarships help empower students to pursue their academic and professional goals without the overwhelming stress of student debt. This financial assistance directly supports student retention and success, fostering an environment where dedicated individuals can thrive.
Furthermore, the fund is structured to be responsive to the needs of each beneficiary institution, which allows it to adapt over time to meet changing educational demands and priorities. This adaptability enhances the effectiveness of the grants provided, ensuring that they remain relevant and impactful.
Overall, Swallen CJ & G Msnary Ed Sch Fd contributes to enriching the educational landscape, promoting academic excellence, and supporting the personal growth of students across its beneficiary colleges.
This information is meant to be a general summary of Swallen Cj & G Msnary Ed Sch Fd. 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: $102,946
- Gross Receipts: $375,610
Assets and Liabilities:
- Total Assets: $2,574,864
- Total Liabilities: $0
- Net Assets: $2,574,864
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Organization Details
Founding Year
1987
Phone
(330) 489-5427Main Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH, 44144
NTEE Category
Code: B82 - Education
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