Overview
What is Mance E & Fay Phillips Drummond Endowment Trust?
The Mance E & Fay Phillips Drummond Endowment Trust is a designated entity established to manage an endowment, with the primary purpose of providing financial support to four charitable organizations. According to the provided information, the trust adheres to the instructions outlined in its trust indenture, distributing funds in the amount of 42,131 during the year in question. This trust serves as a financial resource for these four charitable organizations, contributing to their ongoing efforts and initiatives.
Is Mance E & Fay Phillips Drummond Endowment Trust legitimate?
Mance E & Fay Phillips Drummond Endowment Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mance E & Fay Phillips Drummond Endowment 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: $6,821
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Mance E & Fay Phillips Drummond Endowment Trust?
The Mance E & Fay Phillips Drummond Endowment Trust was established to manage an endowment, distributing funds to four charitable organizations annually. The trust's primary activity is to provide financial support to these organizations, as outlined in the trust indenture. In the recent year, the trust distributed a total of 42,131 to these charities. While the trust does not have a traditional mission statement in the sense of promoting a specific cause or advocating for a particular goal, its purpose is to ensure the continued operation and growth of the chosen charities by providing them with much-needed financial resources.
Who is the CEO of Mance E & Fay Phillips Drummond Endowment Trust?
Mike Carnahan is the Trustee of Mance E & Fay Phillips Drummond Endowment Trust.
What is the revenue of Mance E & Fay Phillips Drummond Endowment Trust?
Mance E & Fay Phillips Drummond Endowment Trust's revenue in 2022 was $66,345.
Who are the executives of Mance E & Fay Phillips Drummond Endowment Trust and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $6,821
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mance E & Fay Phillips Drummond Endowment Trust?
Mance E & Fay Phillips Drummond Endowment Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mance E & Fay Phillips Drummond Endowment Trust
The Mance E & Fay Phillips Drummond Endowment Trust is a philanthropic entity established with the purpose of managing an endowment. This trust is dedicated to providing financial support to four charitable organizations annually. In the given year, the endowment earnings amounting to 42,131 were distributed to these chosen charities, in accordance with the trust indenture's instructions. The mission of the Mance E & Fay Phillips Drummond Endowment Trust lies in its commitment to financially assisting these four charitable organizations, thereby contributing to their collective efforts and impact in their respective fields.
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Impact
October, 2024
The Mance E & Fay Phillips Drummond Endowment Trust plays a vital role in supporting community initiatives through its financial contributions. In the past year, it has distributed $42,131 to four charitable organizations, demonstrating a commitment to enhancing community welfare. By managing its endowment effectively, the trust ensures that these funds are allocated according to the directives of the trust indenture, thereby impacting various causes and organizations. This ongoing financial support helps address diverse needs within the community, from social services to educational programs, fostering a spirit of philanthropy and collaboration in Ardmore, Oklahoma. The trust's impact extends beyond mere financial assistance; it promotes sustainable growth and resilience in the charitable sector, ensuring that essential services remain available to those in need.
This information is meant to be a general summary of Mance E & Fay Phillips Drummond Endowment 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: $66,345
- Gross Receipts: $270,262
Assets and Liabilities:
- Total Assets: $1,764,321
- Total Liabilities: $0
- Net Assets: $1,764,321
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Organization Details
Phone
(580) 220-2753Principal Officer
Mike Carnahan
Main Address
PO BOX 277, ARDMORE, OK, 73402
NTEE Category
Code: T70 - Philanthropy
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