Overview
What is Susie & Juanita Streid Estate Trust Heartland Bank Ttee?
The Susie & Juanita Streid Estate Trust Heartland Bank Ttee is a trust established through the wills of Susie and Juanita Streid. Located in Normal, Illinois, this trust manages three farmlands, generating income from their profits. This income is then distributed to various beneficiaries, primarily a not-for-profit retirement home and a church. Additionally, a portion of the income is utilized to provide scholarships. The trust ensures the efficient management of the farms to maximize returns for its beneficiaries.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star Rating). This rating indicates that the Susie & Juanita Streid Estate Trust Heartland Bank Ttee has some strengths in accountability and finance, but there are also areas that could be improved upon.
The organization demonstrates strong governance with 100% of its board members being independent, and there are no reported material diversions of assets. Additionally, it has a solid conflict of interest policy in place and an impressive liabilities to assets ratio of 0.00%, suggesting effective financial management. Furthermore, the program expense ratio of 87.20% indicates a significant portion of its expenditures goes directly towards its programs.
However, the overall score of 67%, while reflecting good accountability, suggests that there may be improvements needed to enhance transparency and effectiveness further. The reliance on a single beacon score means that other aspects of the charity's operations may not be fully captured, potentially limiting a comprehensive understanding of its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Susie & Juanita Streid Estate Trust Heartland Bank Ttee legitimate?
Susie & Juanita Streid Estate Trust Heartland Bank Ttee is a legitimate nonprofit organization registered as a 501(c)(3) entity. Susie & Juanita Streid Estate Trust Heartland Bank Ttee 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,875
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What is the mission statement of Susie & Juanita Streid Estate Trust Heartland Bank Ttee?
The Susie & Juanita Streid Estate Trust, managed by Heartland Bank Ttee, has a mission to generate income from three inherited farms. This income is then distributed to various beneficiaries, including a not-for-profit retirement home, a church, and scholarship programs. The trust's trustee is responsible for managing the farms to maximize income for these purposes. As per the last wills of Susie and Juanita Streid, a portion of the farmland's net income is specifically designated to be paid to Meadows Mennonite Church, now known as Meadows Mennonite Retirement Community.
What is the revenue of Susie & Juanita Streid Estate Trust Heartland Bank Ttee?
Susie & Juanita Streid Estate Trust Heartland Bank Ttee's revenue in 2024 was $154,779.
Who are the executives of Susie & Juanita Streid Estate Trust Heartland Bank Ttee and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Susie & Juanita Streid Estate Trust Heartland Bank Ttee?
Susie & Juanita Streid Estate Trust Heartland Bank Ttee's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Susie & Juanita Streid Estate Trust Heartland Bank Ttee
The Susie & Juanita Streid Estate Trust Heartland Bank Ttee, as outlined in their trust, is a mission-driven entity. The primary objective of this trust is to generate income from three inherited farms. This income is then distributed to several beneficiaries, including a not-for-profit retirement home, a church, and a scholarship program. The trustee, overseeing the management of these farms, ensures that they are operated efficiently to maximize the income for the benefit of these beneficiaries.
As per the last wills of Susie Streid and Juanita R. Streid, a significant portion of their farmland, specifically 207 acres, was stipulated to generate income. This income is to be paid to Meadows Mennonite Church, now known as the Meadows Mennonite Retirement Community. This arrangement highlights the philanthropic nature of the Susie & Juanita Streid Estate Trust Heartland Bank Ttee, as it utilizes agricultural resources to support various charitable causes, thereby contributing to the betterment of the community.
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Impact
October, 2024
The Susie & Juanita Streid Estate Trust, managed by Heartland Bank as trustee, significantly impacts the community by providing financial support to key local institutions and initiatives. This trust owns 207 acres of farmland, the profits from which are directed towards operating a not-for-profit retirement community, specifically the Meadows Mennonite Retirement Community, as well as contributing to Meadows Mennonite Church and scholarship programs.
By overseeing the management of these farms, the trustee ensures that the income generated is maximized, thereby enhancing the resources available for the beneficiaries. This not only sustains the retirement home, allowing it to provide care and services to its residents, but also supports the church and facilitates educational opportunities through scholarships. Overall, the trust plays a vital role in promoting community welfare, religious activities, and educational advancement in Normal, Illinois.
This information is meant to be a general summary of Susie & Juanita Streid Estate Trust Heartland Bank Ttee. 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 2024.
- Investment Income: $15,158
- Gross Receipts: $278,927
Assets and Liabilities:
- Total Assets: $1,089,762
- Total Liabilities: $10,858
- Net Assets: $1,078,904
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Organization Details
Founding Year
1980
Principal Officer
Heartland Bank Trust Co
NTEE Category
Code: X11 - Religion related
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