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Egbert M Freese Foundation

Tax-deductible

Galion, OH501(c)(3)Community Development EIN 34-1901855Revenue $934K in FY2024

On file with the IRS126 S Market St, 44833-2626 · Galion, OHTax-exempt since Mar 2000Supporting organization — 509(a)(3)

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The Egbert M. Freese Foundation is organized and will be operated exclusively for charitable, education, religious, literary or scientific purposes including seven-eighths of the annual income shall be used for the upkeep and maintenance of City of Galion facilities, including by not limited to parks, that benefit the people of the city of Galion. One-eighth of the annual net income shall be held, managed and disposed of as scholarships for residents of the City of Galion who are high school graduates seeking post-secondary school education and training.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $4K a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$934K
+131% vs prior year
Spent
$611K
To programs
89%
Net assets
$9.5M
By yearFY2021–FY2024
Revenue
$934K
FY2024▲ +131%
Tap a bar for its year
Revenue by fiscal year
FY2021$868K
FY2022$222K
FY2023$404K
FY2024$934K
Expenses
$611K
FY2024▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2021$634K
FY2022$596K
FY2023$604K
FY2024$611K
Net assets
$9.5M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2021$9.8M
FY2022$9.4M
FY2023$9.2M
FY2024$9.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $545K Management & general 11% · $66K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Erik Flick
Co-Treasurer
$0Pt VII · Sec A
Jennifer Kuns
Secretary
$0Pt VII · Sec A
Heath Watkins
Vice Chairman
$0Pt VII · Sec A
William Stepro
Co-Treasurer
$0Pt VII · Sec A
See Egbert M Freese Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Maintains city parks and provides scholarships for Galion residents' education.

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Provided by the organization

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2 programs · $545K · in their own filed words · FY2024
01

Grants made to the City of Galion for the upkeep and maintenance of the Galion facilities.

$475Kprogram expense
02

Grants made to various colleges and universities to be used for highschool graduates of the City of Galion for post-secondary school education and training.

$70Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 8 grants · $2.2M · 2021–2024
City of GalionFY2024$474,982
Unitemized GrantFY2024$70,500
City of GalionFY2023$479,338
Unitemized GrantFY2023$65,792
City of GalionFY2022$470,841
Unitemized GrantFY2022$63,500
City of GalionFY2021$513,958
Unitemized GrantFY2021$56,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$934K
Ln 12
Investment incomeLn 3$934K
Money outPt IX
$611K
Ln 25
Programscol B$545K
Managementcol C$66K
Owns and owesPt X
$9.5M
net assets · Ln 32
Total assetsLn 16$9.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$934K
Gains on assetsLn 7$685K
Total revenueLn 12$934K
Assets in detailPt X, end of year
InvestmentsLn 11–13$9.5M
Total assetsLn 16$9.5M
LiabilitiesLn 26$0
Net assetsLn 32$9.5M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
InvestmentsLn 11–13$9.2M$9.5M
Total assetsLn 16$9.2M$9.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$9.2M$9.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$475K$475K
Grants to domestic individualsLn 2$70K$70K
Accounting feesLn 11c$1K$1K
Investment management feesLn 11f$59K$59K
All other expensesLn 24e$5K$5K
Total functional expensesLn 25$611K$545K$66K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $934K$611K$323K$9.5M 990 PDF
FY2023 $404K$604K−$199K$9.2M 990 PDF
FY2022 $222K$596K−$374K$9.4M 990 PDF
FY2021 $868K$634K$234K$9.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $933,693 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $404,447$933,693
I-11 Other revenue$0
I-12 Total revenuePrior year $404,447$933,693
I-13 Grants and similar amounts paidPrior year $545,130$545,482
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $58,428$65,694
I-18 Total expensesPrior year $603,558$611,176
I-19 Revenue less expensesPrior year −$199,111$322,517
Part VI · Governance 0 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $933,693 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $248,673$248,673
VIII-7 Net gain or loss on sales of assetsExcluded from tax $685,020$685,020
VIII-12 Total revenueExcluded from tax $933,693$933,693
Part IX · Statement of functional expenses $611,176 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $474,982$474,982
IX-2 Grants to domestic individualsPrograms $70,500$70,500
IX-11c Accounting feesManagement $1,050$1,050
IX-11f Investment management feesManagement $59,353$59,353
IX-24e All other expensesManagement $5,291$5,291
IX-25 Total functional expensesPrograms $545,482 · Management $65,694 · Fundraising $0$611,176
Part X · Balance sheet $9,530,614 assets, 5 lines filed
X-11 Publicly traded securitiesStart of year $9,202,097$9,530,614
X-16 Total assetsStart of year $9,202,097$9,530,614
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $9,202,097$9,530,614
X-33 Total liabilities and net assetsStart of year $9,202,097$9,530,614
Part XI · Reconciliation of net assets $9,530,614 net assets at year end
XI-1 Total revenue$933,693
XI-2 Total expenses$611,176
XI-3 Revenue less expenses$322,517
XI-4 Net assets at start of year$9,202,097
XI-9 Other changes in net assets$6,000
XI-10 Net assets at end of year$9,530,614

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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