Overview
What is The Marrs Mclean Trust 487601 Frost Bank Trustee?
The Marrs Mclean Trust #487601 Frost Bank Trustee is a charitable trust, overseen by Frost Bank as its institutional trustee. Established according to the will of Verna Hooks McLean, the trust's purpose is to follow the instructions and objectives outlined in its governing document. It is specifically designed to support three publicly-supported Section 501(c)(3) organizations: Baylor College of Medicine in Houston, Texas, and Trinity University in San Antonio, Texas. The trust's income generated from investments is distributed in fixed percentages, directly benefiting these organizations.
Is The Marrs Mclean Trust 487601 Frost Bank Trustee legitimate?
The Marrs Mclean Trust #487601 Frost Bank Trustee is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Marrs Mclean Trust #487601 Frost Bank Trustee 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: $26,404
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of The Marrs Mclean Trust 487601 Frost Bank Trustee?
The Marrs Mclean Trust 487601, overseen by Frost Bank Trustee, adheres to the instructions and intentions outlined in its governing document, as dictated by its founder. The primary objective of this endowment fund is to distribute funds from its investments in fixed percentages to support three publicly recognized charitable organizations. Among these beneficiaries are Baylor College of Medicine in Houston, Texas, and Trinity University in San Antonio, Texas. The Trust's purpose is to provide financial assistance to these organizations, thereby contributing to their ongoing initiatives and missions.
What is the revenue of The Marrs Mclean Trust 487601 Frost Bank Trustee?
The Marrs Mclean Trust 487601 Frost Bank Trustee's revenue in 2024 was $362,918.
Who are the executives of The Marrs Mclean Trust 487601 Frost Bank Trustee and what are their salaries?
There is 1 key member and their salary:
- Compensation: $26,404
- Related: $0
- Other: $0
Where can I find the form 990 for The Marrs Mclean Trust 487601 Frost Bank Trustee?
The Marrs Mclean Trust 487601 Frost Bank Trustee's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of The Marrs Mclean Trust 487601 Frost Bank Trustee
The Marrs Mclean Trust 487601 Frost Bank Trustee, as directed by its settlor, adheres to the intentions and guidelines outlined in its governing document. This trust is an endowment fund established through the will of Verna Hooks McLean, with a mandate to support three publicly supported Section 501(c)(3) organizations. The trust's primary purpose is to distribute the net income generated from its investments in fixed percentages, benefiting these named organizations. Among these beneficiaries are Baylor College of Medicine located in Houston, Texas, and Trinity University situated in San Antonio, Texas. The Marrs Mclean Trust 487601 Frost Bank Trustee serves as a reliable source of financial support for these esteemed institutions, contributing to their ongoing mission and development.
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Impact
October, 2024
The Marrs Mclean Trust 487601, with Frost Bank as its trustee, plays a significant role in supporting education by providing financial assistance to specific institutions. Its primary focus is to enhance the capabilities and resources of Baylor College of Medicine in Houston, Texas, and Trinity University in San Antonio, Texas. Through a well-structured endowment fund, the trust ensures that net income from its investments is allocated in fixed percentages to these educational organizations.
This structured financial support not only helps maintain the operational effectiveness of these institutions but also contributes to their growth and development. By directing funds to Baylor College of Medicine, the trust aids in advancing medical education and research, thereby impacting public health outcomes. Meanwhile, support for Trinity University fosters a well-rounded educational experience, enhancing academic programs and opportunities for students.
Overall, The Marrs Mclean Trust 487601 facilitates the advancement of education and research in Texas, ensuring that these institutions can continue to serve their students and communities effectively.
This information is meant to be a general summary of The Marrs Mclean Trust 487601 Frost Bank Trustee. 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: $280,668
- Gross Receipts: $1,200,958
Assets and Liabilities:
- Total Assets: $12,723,286
- Total Liabilities: $0
- Net Assets: $12,723,286
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Organization Details
Founding Year
1985
Principal Officer
Frost Bank
NTEE Category
Code: B12 - Education
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