Civic Intelligence

Egbert M Freese Foundation

990 • Fiscal year 2021 • EIN 34-1901855

Jan 01, 2021 to Dec 31, 2021 • Filed on May 03, 2022

Organization ProfileN/A
126 S Market StGalion, OH 44833

(216) 689-7663

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

71st percentile

27%

Higher net margin than 71% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets8th percentile

Assets

$9,775,286

No earlier filing loaded for comparison.

Net Assets

$9,775,286

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin71st percentile

Revenue

$868,185

No earlier filing loaded for comparison.

Expenses

$634,165

No earlier filing loaded for comparison.

Net Income

$234,020

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2021: $9,775,286Liabilities 2021: $0Net Assets 2021: $9,775,2862021Assets 2022: $9,400,829Liabilities 2022: $0Net Assets 2022: $9,400,8292022Assets 2023: $9,202,097Liabilities 2023: $0Net Assets 2023: $9,202,0972023Assets 2024: $9,530,614Liabilities 2024: $0Net Assets 2024: $9,530,6142024

Highlighted filing

2021

Assets$9,775,286
Liabilities$0
Net Assets$9,775,286
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2021: $868,185Expenses 2021: $634,165Net Income 2021: $234,0202021Revenue 2022: $222,069Expenses 2022: $596,464Net Income 2022: -$374,3952022Revenue 2023: $404,447Expenses 2023: $603,558Net Income 2023: -$199,1112023Revenue 2024: $933,693Expenses 2024: $611,176Net Income 2024: $322,5172024

Highlighted filing

2021

Revenue$868,185
Expenses$634,165
Net Income$234,020
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 3, 2022
Return Version
2021v4.1
Gross Receipts
$3,240,308
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$9,775,286-
Cap Stk Tr Prin Current Funds$9,541,254$9,775,286▲ $234,032
Investments Other Securities$9,541,254--
Total Assets$9,541,254$9,775,286▲ $234,032
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,541,254$9,775,286▲ $234,032
Total Liabilities and Net Assets / Fund Balance$9,541,254$9,775,286▲ $234,032
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Grant B GarverickPresident
Heath WatkinsVice Chairman
Erik FlickCo-treasurer
William SteproCo-treasurer
Jennifer KunsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$868,185
Other Revenue
$0
Change in Net Assets
$234,020
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$569,958
Other Expenses$64,207
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$513,958--$513,958
Fees for Service Investment Mgmnt Fees-$60,005-$60,005
Grants to Domestic Individuals$56,000--$56,000
All Other Expenses-$3,202-$3,202
Fees for Services Accounting-$1,000-$1,000
Total Functional Expenses$569,958$64,207$0$634,165
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of GalionGalion, OH170(b)(1)(A)(V)Upkeep and maintenance of City of Galion facilities.$513,958
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 12A

“No conflict of interest policy exists for the egbert freesefoundation. .”

Part VI, Line 14

“The trust has no written document retention or destruction policy.keyb ank, paid preparer for the egbert m freese foundation has a corporate ducument retention and destruction policy.”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 1A

“Members of the board of trustees for the egbert m. Freese foundation have the power to vote on all matters that may come before the board of trustees.”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8A

“Egbert M Freese Board documents all meetings and written actions taken during the year.”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8B

“Egbert M Freese Board documents all meetings and written actions taken during the year.”

Form 990, Page 6, Part VI, Line 11-description of Process for Review

“Returns are prepared by keybank, paid preparer of the egbert m freese foundation. The completed return is submitted to the trustee forfinal review before filing the return.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request by mail or by phone to the Board of Trustees of The Egbert Freese Foundation.”

Filing and Contact Details

Filer

Filer Name
Egbert M Freese Foundation
EIN
34-1901855
Phone
2166897663
Address
126 S MARKET ST, GALION, OH 44833

Signing Officer

Name
Grant B Garverick
Title
President
Phone
2166897663
Signed
2022-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Grant B Garverick Trustee
Formed
1999
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
0
Employees
0

Preparer

Firm
Pricewaterhousecoopers Llp
Address
1850 N CENTRAL AVE STE 700, PHOENIX, AZ 85004
Preparer
Jeffrey E Kuhlin
Phone
4123556000
Supplemental Narrative

Additional Explanations

Explanation for Form 990, Part XI, Line 9

“ROUNDING”

Raw XML AppendixShowing 400 of 434 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1Annual grants are made to the City of Galion in amounts as determined by the Board of Trustees for distributions in a particular calendar year. One-eighths 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.
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IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/CurrentYearAmt011992423
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/PriorYearAmt010627442
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/CurrentYearAmt0179886
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt0159412
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/CurrentYearAmt011812537
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/PriorYearAmt010468030
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/CurrentYearAmt0413439
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/PriorYearAmt0366381
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/PriorYearAmt00
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IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/PriorYearAmt010627442
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IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt0366381
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0513958
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt056000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIP
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IRS990ScheduleI/RecipientTable/CashGrantAmt0513958
IRS990ScheduleI/RecipientTable/IRCSectionDesc0170(b)(1)(A)(V)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Upkeep and maintenance of City of Galion facilities.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CITY OF GALION
IRS990ScheduleI/RecipientTable/RecipientEIN0346400545
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0301 HARDING WAY E
IRS990ScheduleI/RecipientTable/USAddress/CityNm0GALION
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0OH
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd044833
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Funds for student scholarships are conditioned upon the student maintaining a 3.0 grade point average and any failure of student to attend college, drop outs, etc. require the respective school or university to return the unused portion of funds to Key Bank Trust to be reapplied in the Egbert M. Freese funds.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO CONFLICT OF INTEREST POLICY EXISTS FOR THE EGBERT FREESEFOUNDATION. .
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TRUST HAS NO WRITTEN DOCUMENT RETENTION OR DESTRUCTION POLICY.KEYB ANK, PAID PREPARER FOR THE EGBERT M FREESE FOUNDATION HAS A CORPORATE DUCUMENT RETENTION AND DESTRUCTION POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS OF THE BOARD OF TRUSTEES FOR THE EGBERT M. FREESE FOUNDATION HAVE THE POWER TO VOTE ON ALL MATTERS THAT MAY COME BEFORE THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Egbert M Freese Board documents all meetings and written actions taken during the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Egbert M Freese Board documents all meetings and written actions taken during the year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5RETURNS ARE PREPARED BY KEYBANK, PAID PREPARER OF THE EGBERT M FREESE FOUNDATION. THE COMPLETED RETURN IS SUBMITTED TO THE TRUSTEE FORFINAL REVIEW BEFORE FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Documents are available upon request by mail or by phone to the Board of Trustees of The Egbert Freese Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ROUNDING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI LINE 12A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, LINE 14
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 1a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7EXPLANATION FOR FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0GOVERNMENTAL
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt064207
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0569958
IRS990/TotalFunctionalExpensesGrp/TotalAmt0634165
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09775286
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0574958
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0868185
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0868185
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09541254
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09775286
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0126 South Market Street
IRS990/USAddress/CityNm0Galion
IRS990/USAddress/StateAbbreviationCd0OH

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,775,286
Liabilities
$0
Net assets
$9,775,286
Revenue
$868,185
Expenses
$634,165
Net income
$234,020
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.53$0.00$9.53$0.93$0.61$0.32
2023Detailed filing. Detailed filing data is available for this year.$9.20$0.00$9.20$0.40$0.60$0.20
2022Detailed filing. Detailed filing data is available for this year.$9.40$0.00$9.40$0.22$0.60$0.37
2021Detailed filing. Detailed filing data is available for this year.$9.78$0.00$9.78$0.87$0.63$0.23