Overview
What is Gladys Friant Trust Under Will?
The Gladys Friant Trust Under Will is a financial entity that distributes funds to nonprofit organizations as outlined in its governing document. These organizations fall under sections 509(a)(1) or (a)(2), indicating they are public charities, private foundations, or other types of tax-exempt organizations. The trust's mission is to provide financial support to these organizations, ensuring their continued operations and impact in their respective fields.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (60%, Two-Star out of Four Star rating)
The Gladys Friant Trust Under Will has received a rating indicating that it needs improvement, with an overall score of 60%. The organization demonstrates a solid Program Expense Ratio at 85.3%, which suggests a high percentage of its expenses are directed towards its programs. However, the organization faces significant challenges in governance and transparency, highlighted by the absence of independent board members and various missing policies, such as conflict of interest, whistleblower, and document retention.
The organization has effectively managed its assets, showing a 0.00% liabilities to assets ratio, which is a positive indicator of financial health. However, issues such as a missing website listed on the tax form and the absence of tax documents on its site further undermine its accountability. While the organization does maintain records of board meeting minutes, the lack of basic governance policies raises concerns about its operational integrity.
Overall, while the Gladys Friant Trust Under Will shows strong program expenditure, its governance and transparency issues require considerable attention to improve its standing and effectiveness in serving its mission. Without addressing these limitations, it may struggle to gain the trust of potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Gladys Friant Trust Under Will legitimate?
Gladys Friant Trust Under Will is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gladys Friant Trust Under Will 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: $44,800
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Gladys Friant Trust Under Will?
The Gladys Friant Trust Under Will operates with a focus on distributing funds to organizations falling under sections 509(a)(1) or (a)(2). As per its mission, this trust awards all its grants and allocations exclusively to these specified organizations. The primary objective of this trust is to support the activities and missions of these organizations, as outlined in their respective governing documents. The trust does not have a mission statement of its own, but rather, its purpose is to aid and support the missions of the organizations it financially assists.
Who is the CEO of Gladys Friant Trust Under Will?
Fifth Third Bank N A is the Trustee of Gladys Friant Trust Under Will.
What is the revenue of Gladys Friant Trust Under Will?
Gladys Friant Trust Under Will's revenue in 2022 was $104,823.
Who are the executives of Gladys Friant Trust Under Will and what are their salaries?
There is 1 key member and their salary:
- Compensation: $44,800
- Related: $0
- Other: $0
Where can I find the form 990 for Gladys Friant Trust Under Will?
Gladys Friant Trust Under Will's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gladys Friant Trust Under Will
The Gladys Friant Trust Under Will is a trust that operates with the intention of supporting organizations categorized under sections 509(a)(1) or (a)(2). In line with this mission, the trust distributes its grants and allocations exclusively to these organizations. This trust is committed to channelling its resources towards the objectives and goals of these designated organizations, thereby contributing to their overall mission and activities. The specific nature and focus of these organizations are not explicitly stated in the provided information, but the trust's role is to provide financial support in accordance with the directives outlined in its governing document.
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Impact
October, 2024
The Gladys Friant Trust Under Will impacts the community by channeling financial resources to organizations recognized under sections 509(a)(1) or (a)(2). By providing grants and allocations specifically designated for these organizations, the trust supports various philanthropic initiatives aimed at enhancing societal well-being. This structured distribution approach ensures that funds are managed and directed in accordance with the governing document, enabling a focused impact on designated charitable activities within the Cincinnati area. The trust's role in fostering collaboration with recognized nonprofits amplifies its influence on local communities and initiatives, driving positive change through strategic philanthropy.
This information is meant to be a general summary of Gladys Friant Trust Under Will. 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: $104,823
- Gross Receipts: $2,361,973
Assets and Liabilities:
- Total Assets: $3,221,030
- Total Liabilities: $0
- Net Assets: $3,221,030
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Organization Details
Founding Year
1928
Phone
(800) 400-0439Principal Officer
Fifth Third Bank N A
Main Address
PO BOX 630858, CINCINNATI, OH, 452630858
NTEE Category
Code: T90 - Philanthropy
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