Overview
What is Mrlilly P & Mary Dickey Memorial Fd?
The Mrlilly P & Mary Dickey Memorial Fd is a nonprofit organization located at 4900 TIEDEMAN ROAD, BROOKLYN, OH-01-49-0381. It is governed by a trust agreement dated October 27, 1987, with Keybank serving as the trustee. The organization operates under the Ohio Institutional Trust Funds Act of 1999, allowing it to distribute funds based on the greater of 5% of AFV or traditional income. The Mrlilly P & Mary Dickey Memorial Fd makes grants to three beneficiaries: Lake Erie College, First Presbyterian Church, and Case Western Reserve University, with a distribution ratio of 25% to each. Keybank ensures a 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 allow the Trustee to amend the document to maintain its 509(a)3 status. The primary focus of the organization, as per the information provided, is to make grants towards religious observations and the maintenance of the First Presbyterian Church property.
Is Mrlilly P & Mary Dickey Memorial Fd legitimate?
Mrlilly P & Mary Dickey Memorial Fd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mrlilly P & Mary Dickey Memorial 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: $162,063
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Mrlilly P & Mary Dickey Memorial Fd?
The Mrlilly P & Mary Dickey Memorial Fund, as per the Trust Agreement dated October 27, 1987, distributes grants to three beneficiary organizations: Lake Erie College, First Presbyterian Church, and Case Western Reserve University. The distributions are based on a specific percentage allocation, with 25% going to each beneficiary. Under the Ohio Institutional Trust Funds Act of 1999, the beneficiaries opt for the maximum income based on the greater of 5% of AFV or traditional income. Keybank, acting as the Trustee, maintains a responsiveness to the needs and activities of each beneficiary organization, ensuring their mission continues to be accomplished. The beneficiary charities have 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.
Who is the CEO of Mrlilly P & Mary Dickey Memorial Fd?
Unavailable
What is the revenue of Mrlilly P & Mary Dickey Memorial Fd?
Mrlilly P & Mary Dickey Memorial Fd's revenue in 2022 was $768,016.
Who are the executives of Mrlilly P & Mary Dickey Memorial Fd and what are their salaries?
There is 1 key member and their salary:
- Compensation: $162,063
- Related: $0
- Other: $0
Where can I find the form 990 for Mrlilly P & Mary Dickey Memorial Fd?
Mrlilly P & Mary Dickey Memorial Fd's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mrlilly P & Mary Dickey Memorial Fd
Mrlilly P & Mary Dickey Memorial Fund is a charitable organization that adheres to a trust agreement from 1987. As a trustee, Keybank distributes grants according to this agreement, allocating 25% to Lake Erie College, 50% to First Presbyterian Church, and 25% to Case Western Reserve University. The beneficiaries of this trust have chosen to receive the maximum income based on the greater of 5% of adjusted net assets (AFV) or traditional income, as per the Ohio Institutional Trust Funds Act of 1999. Keybank, acting as the trustee, maintains a responsiveness to the needs and activities of each beneficiary organization in their pursuit of their respective missions. It is worth noting that the charities have the right to remove the trustee, and the trustee has the authority to amend the document to ensure the continuation of qualifying as a 509(a)3. In essence, Mrlilly P & Mary Dickey Memorial Fund supports three key educational and religious institutions by distributing funds based on the trust agreement, while maintaining a commitment to the mission-driven activities of each beneficiary organization.
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Impact
October, 2024
Mrlilly P & Mary Dickey Memorial Fund significantly impacts its designated beneficiaries through targeted financial support, enabling them to achieve their respective missions. The fund allocates grants as per the Trust Agreement to three primary entities: Lake Erie College, First Presbyterian Church, and Case Western Reserve University.
By designating 50% of the distributions to the First Presbyterian Church, the fund plays a crucial role in supporting religious observances and maintaining church property, thereby enhancing the community's spiritual and cultural life. The 25% allocated to Lake Erie College and Case Western Reserve University provides essential resources for educational programs, scholarships, and campus development, fostering academic growth and opportunity for students.
Keybank, as the trustee, actively engages with each organization to respond to their unique needs, ensuring that the distributions effectively support their missions. This engagement helps to sustain these institutions' operations and initiatives, ultimately benefiting the broader community in Brooklyn, OH, and beyond. The ability to amend the trust document also ensures that the fund can adapt to changing circumstances, maintaining its relevance and impact over time.
This information is meant to be a general summary of Mrlilly P & Mary Dickey Memorial 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: $768,016
- Gross Receipts: $2,416,193
Assets and Liabilities:
- Total Assets: $21,304,408
- Total Liabilities: $0
- Net Assets: $21,304,408
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Organization Details
Founding Year
1994
Phone
(216) 689-7663Main Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH, 44144
NTEE Category
Code: T900 - Philanthropy
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