Overview
What is George B Mcmillan Memorial Trust Fund?
The George B Mcmillan Memorial Trust Fund is a philanthropic entity established in accordance with George B Mcmillan's will. Its primary mission is to support and maintain the First Congregational Church UCC situated in Wisconsin Rapids, Wisconsin. The trust's income is allocated to this designated charitable beneficiary, ensuring its continued operations and upkeep. The trust was created with the intention of providing ongoing support for the congregational church in Wisconsin Rapids.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53% (One-Star out of Four Star rating)
The George B Mcmillan Memorial Trust Fund has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and finance practices. The overall score is primarily derived from the Accountability & Finance beacon, revealing a lack of independent board members and missing critical policies such as conflict of interest and whistleblower protections. Although the organization has a good program expense ratio at 81.03%, which signifies that a large portion of its expenses goes directly to its programs, the absence of transparency measures raises questions about its governance.
Strengths of the organization include a perfect score in the material diversion of assets and a strong ratio of liabilities to assets, which suggests financial stability. Additionally, the trust fund does document its board meeting minutes, showcasing some level of operational transparency. However, the overall lack of independent oversight and essential policies undermines public trust and may hinder its effectiveness in fulfilling its mission.
The primary limitations stem from the absence of independent board members and critical governance documents, which can lead to potential conflicts of interest and reduced accountability. Without a website providing essential documentation and policies, stakeholders may find it challenging to assess the organization’s operations fully. Improving these areas could enhance its credibility and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is George B Mcmillan Memorial Trust Fund legitimate?
George B Mcmillan Memorial Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. George B Mcmillan Memorial Trust Fund 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: $43,532
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of George B Mcmillan Memorial Trust Fund?
The George B Mcmillan Memorial Trust Fund was established through George B McMillan's will with the intention of providing maintenance and support for a specific congregational church, located in Wisconsin Rapids, Wisconsin. The primary objective of the trust is to distribute its income to this qualified charitable beneficiary, which is the First Congregational Church UCC in Wisconsin Rapids, Wisconsin. This ongoing support aims to ensure the church's continued operation and upkeep. The trust serves as a testament to George B McMillan's commitment to his religious community.
What is the revenue of George B Mcmillan Memorial Trust Fund?
George B Mcmillan Memorial Trust Fund's revenue in 2023 was $251,213.
Who are the executives of George B Mcmillan Memorial Trust Fund and what are their salaries?
There is 1 key member and their salary:
- Compensation: $43,532
- Related: $0
- Other: $0
Where can I find the form 990 for George B Mcmillan Memorial Trust Fund?
George B Mcmillan Memorial Trust Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of George B Mcmillan Memorial Trust Fund
The George B McMillan Memorial Trust Fund was established through the will of its namesake, with the intention of supporting and maintaining the First Congregational Church UCC located in Wisconsin Rapids, Wisconsin. The primary mission of this trust is to provide financial assistance to this church, ensuring its continued operation and well-being. The funds generated from this trust are distributed to the qualified charitable beneficiary, which is the First Congregational Church UCC in Wisconsin Rapids, Wisconsin, in accordance with its original purpose.
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Impact
October, 2024
The George B McMillan Memorial Trust Fund significantly contributes to the maintenance and support of the First Congregational Church UCC in Wisconsin Rapids, Wisconsin. Established through George B. McMillan's will, the trust ensures a continuous flow of income dedicated solely to the church, allowing it to thrive and serve the local community. This financial support enables the church to undertake various activities, maintain its facilities, and fulfill its mission, thereby enhancing the cultural and social fabric of Wisconsin Rapids. The trust thereby fosters a sense of community connection and provides a stable foundation for the church's ongoing programs and initiatives.
This information is meant to be a general summary of George B Mcmillan Memorial Trust Fund. 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 2023.
- Investment Income: $115,753
- Gross Receipts: $1,046,596
Assets and Liabilities:
- Total Assets: $4,692,033
- Total Liabilities: $0
- Net Assets: $4,692,033
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Organization Details
Founding Year
1927
NTEE Category
Code: N20 - Recreation
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