Millikin Severance No 2 Fund A-2
- Assets
- $10.9m
- Revenue
- $989.9k
- Investments
- $10.8m
- Employees
- 0
- Location
- Brooklyn, OH
- Founding
- 01/1986
- Data as of
- 12/2021
- EIN
- 34-6844730
Organization Overview
Millikin Severance No 2 Fund A-2 is located in Brooklyn, OH. The organization was established in 1986. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Millikin Severance No 2 Fund A-2 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Millikin Severance No 2 Fund A-2 generated $989.9k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $658.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GRANTS ARE MADE ACCORDING TO TRSUT AGREEMENT DATED FEBRUARY 23,1976 .KEYBANK, AS TRUSTEE MAKES DISTRIBUTIONS TO UNIVERSITY HOSPITAL ANDCASE WESTERN RESERVE UNIVERSITY TO BE USED FOR THE ADVANCEMENT OFOF MEDICAL RESEARCH. UNDER THE OHIO INSTITUTIONAL TRUST FUNDS ACT OF1999, THE BENEFICIARIES HAVE CHOSEN TO RECEIVE THE MAXIMUM OF INCOMEBASED ON THE GREATER OF 5% OF AFV OR TRADITIONAL INCOME. KEYBANKMAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF EACHBENEFICIARY ORGANIZATION IN THE ATTAINMENT OF ITS MISSION. PLEASENOTE THE CHARITIES HAVE A RIGHT TO REMOVE THE TRUSTEE, AND THE TRUSTEEHAS THE AUTHORITY TO AMEND THE DOCUMENT TO INSURE THE CONTINUATION TOQUALIFY AS A 509(A)3. KEYBANK MAINTAINS A RESPONSIVENESS TO THE NEEDS AND ACTIVITIES OF EACH BENEFICIARY ORGANIZATION IN THE ATTAINMENT OF ITS MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE MADE TO UNIVERSITY HOSPITAL FOR THE MEDICAL RESEARCH
GRANTS ARE MADE TO CASE WESTERN RESERVE UNIVERSITY FOR MEDICAL RESEARCH
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Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $94,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $895,467 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $989,908 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $84,256 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $658,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $102,737 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,811,170 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,913,907 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $10,913,907 |
| Total liabilities and net assets/fund balances | $10,913,907 |
Grants Awarded
Over the last fiscal year, Millikin Severance No 2 Fund A-2 has awarded $665,759 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY HOSPITAL | | | $426,264 |
CASE WESTERN RESERVE UNIVERSITY | | | $239,495 |