Walter E Terhune Memorial Fund EIN 35-2446722 Form 990 (PDF) Claim this org

Walter E Terhune Memorial Fund FY2023 filing

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A private foundation based in Brooklyn, OH. It reported about $2.6M in revenue for 2023. For fiscal year 2023 it reported $2.6M in revenue, $713K in expenses, and $8.3M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Brooklyn, OH
Filings
6 on file (2020–2023)
Revenue
$2.6MFY2023
Expenses
$713K
Net assets
$8.3M
People
1
Filings
6
Updates
0
More identity details & actions ⌄
EIN  35-2446722 Private foundation / grantmaker Brooklyn, OH
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$1–10M
What they do
A private foundation based in Brooklyn, OH. It reported about $2.6M in revenue for 2023.
Leadership
Keybank N A · Trustee · $70K
Money in and out
$2.6M revenue, $713K expenses
Bottom line
Grants paid & assets · FY2023
Total revenue
$2.6M
Pt VIII · Ln 12
Total expenses
$713K
Pt IX · Ln 25
Net assets
$8.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.9M
Total assets
8.3M
deployed as grants and operations
Grants paid
625K
in FY2023
Grants made
32grants
total in period
Payout rate
8%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 32 grants · $640K · 2025–2025
Toledo Alliance for the Performing ArtsFY2025$60,000
YMCAFY2025$55,000
Erie Shores CouncilFY2025$50,000
Boys and Girls Club of ToledoFY2025$40,000
Local Initiatives Support CorpFY2025$35,000
Valentine TheatreFY2025$30,000
Great Lakes Historical SocietyFY2025$30,000
Toledo Area Humane SocietyFY2025$30,000
Toledo OperaFY2025$30,000
Black Swamp ConservancyFY2025$25,000
Catholic CharitiesFY2025$25,000
Ottawa Hills School FoundationFY2025$25,000
Arts CommissionFY2025$25,000
Toledo Jeep FestFY2025$20,000
Genacross Lutheran Services FoundationFY2025$20,000
Trinity Episcopal ChurchFY2025$20,000
Sunshine Foundation INCFY2025$20,000
Imagination StationFY2025$12,500
See all 32 grants →

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$20K
Median grantPart XV$20K
Largest grantPart XV$60K

Summary of the Filing

Part I · fiscal year 2023 · Form 990-PF
Revenue
$2.6M
FY2023▲ +218%
Expenses
$713K
FY2023▼ -15%
Total assets
$8.3M
FY2023▲ +29%
Total liabilities
$0
FY2023
Total revenue
$2.6M
Pt VIII · Ln 12
Total expenses
$713K
Pt IX · Ln 25
Net assets
$8.3M
Pt X · Ln 32
Total assetsPt II$8.3M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWalter E Terhune Memorial Fund
EINHdr · item D35-2446722
Principal addressHdr · item CBrooklyn, OH
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFApr 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$70,281Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023
Keybank N A$88,608$81,028$70,281

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Investment income100%$2.6M
Total revenueLn 12$2.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.88 Operating & administrative $0.12
Grants & contributions paid88%$625K
Operating & administrative12%$88K
Total functional expensesLn 25$713K

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$8.3M
Total liabilitiesLn 26$0
Total net assetsLn 32$8.3M
Months of cash on handcomputed18.2

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $8.3M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $2.6M
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $2.6M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $2.6M · Prior year $809K
+218%
Net-asset trend (YoY)
End of year $8.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.6M · Expenses $713K
+72%
Liabilities-to-Assets
Total liabilities — · Total assets $8.3M
Net-asset ratio
Net assets $8.3M · Total assets $8.3M
100%
People & payroll
Highest Reported Total Compensation
Individual Keybank N A · Reported title Trustee · Highest reported compensation $70K · Total expenses $713K
10%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 218%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$273K revenue · ⤓ 990 PDF
FY2024$1.7M revenue · ⤓ 990 PDF
FY2023$2.6M revenue · viewing · ⤓ 990 PDF
FY2022$809K revenue · ⤓ 990 PDF
FY2021$660K revenue · ⤓ 990 PDF
FY2020$314K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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