Overview
What is Jackson Milford Testamentary Trust?
The Jackson Milford Testamentary Trust is a charitable organization, headquartered in Cincinnati, Ohio. It distributes funds annually to various charitable organizations, as per its governing document's instructions. Specifically, the trust makes annual payments to the City of Algonac, Michigan, benefiting the community in a manner decided by the city's governing body. This philanthropic endeavor supports local initiatives and enhances the well-being of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating) 60%
The Jackson Milford Testamentary Trust has received a rating of "Needs Improvement" from Charity Navigator, scoring 60% overall. One area of concern is the lack of independent board members, which raises questions about governance and accountability. However, the organization has demonstrated strong financial health with a program expense ratio of 76.05%, indicating that a significant portion of its expenses is directed toward its programs.
Additionally, while the trust has a conflict of interest policy in place, it falls short in other governance practices such as lacking a whistleblower policy and a document retention and destruction policy. The absence of these policies may impact transparency and operational integrity. Moreover, the trust's website is not listed on the tax form, which could hinder accessibility to important information for potential donors and beneficiaries.
Despite these governance challenges, the trust shows no material diversion of assets and maintains a favorable liabilities to assets ratio of 0.00%. This suggests a solid financial foundation, which is a positive aspect amidst the noted weaknesses in governance and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Jackson Milford Testamentary Trust legitimate?
Jackson Milford Testamentary Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jackson Milford Testamentary Trust 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: $7,251
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Jackson Milford Testamentary Trust?
The Jackson Milford Testamentary Trust is designed to make annual payments to a specified city, in this case, Algonac, Michigan. The purpose of these payments is to benefit the community as decided by the city's governing body. Additionally, the trust also makes distributions to various charitable organizations, as outlined in its governing documents. This philanthropic entity aims to contribute financially to the betterment of the community and various charitable causes.
Who is the CEO of Jackson Milford Testamentary Trust?
Unavailable
What is the revenue of Jackson Milford Testamentary Trust?
Jackson Milford Testamentary Trust's revenue in 2022 was $16,651.
Who are the executives of Jackson Milford Testamentary Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $7,250
- Related: $0
- Other: $0
Where can I find the form 990 for Jackson Milford Testamentary Trust?
Jackson Milford Testamentary Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Jackson Milford Testamentary Trust
The Jackson Milford Testamentary Trust is a charitable organization that follows a unique mission. Its primary objective is to make annual payments to a specific city, Algonac, Michigan, with the intention of benefiting the community as decided by the city's governing body. This financial support serves as a testament to the trust's dedication to uplifting the community it serves.
Beyond this, the Jackson Milford Testamentary Trust also distributes its income to various charitable organizations, as directed by its governing document. This aspect of its mission allows the trust to extend its reach and impact, supporting a wide array of causes and organizations that align with its philanthropic goals. The trust's activities are guided by its governing document, ensuring that its resources are utilized in a thoughtful and strategic manner to maximize its positive impact on the communities it serves.
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Impact
October, 2024
The Jackson Milford Testamentary Trust significantly impacts the community of Algonac, Michigan, by providing annual financial support directly to the city. This income is intended to benefit the local community through various initiatives and projects as determined by the governing body. Additionally, the trust facilitates distributions to various charitable organizations, amplifying its reach and enhancing community welfare. By channeling resources into the community, it fosters development, supports local programs, and helps meet the evolving needs of residents. Its commitment to public benefit ensures that the financial contributions are aligned with the priorities and aspirations of the Algonac community, strengthening civic engagement and support for local initiatives.
This information is meant to be a general summary of Jackson Milford Testamentary Trust. 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: $16,651
- Gross Receipts: $303,270
Assets and Liabilities:
- Total Assets: $430,515
- Total Liabilities: $0
- Net Assets: $430,515
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Organization Details
Founding Year
1992
Phone
(513) 534-5310Main Address
PO BOX 630858, CINCINNATI, OH, 452630858
NTEE Category
Code: W00 - Public benefit
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