Egbert M Freese Foundation

Nonprofit profile at a glance

EIN
341901855
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Galion, OH, USA
Phone
2166897663
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$933,693
Expenses
$611,176
Assets
$9,530,614
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • GRANT B GARVERICK (PRESIDENT)

People named in this filing

  • GRANT B GARVERICK (PRESIDENT)
  • ERIK FLICK (CO-TREASURER)
  • JENNIFER KUNS (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 93
  • Accountability: 12
  • Sustainability: 89
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 34.5%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 15.59; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -1.1% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.3% of spending went to programs
  • Governance: 0 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $545K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.