Keys on conferred on individuals, not organizations.
First, priesthood keys "are the authority God has given to priesthood leaders to direct, control, and govern the use of His priesthood on earth."
By definition, keys open things. Thus, those who hold priesthood keys open the flow of priesthood power in behalf of all who serve under their direction. they also have the right and authority to direct and govern the sue of the priesthood within their jurisdiction.
Priesthood keys are real. They unlock the power of God to all who serve under their direction. Priesthood power is real. It is not some theological theory. It is the power of God Himself.
In any case, the things I don't yet understand do not negate what I do know: that Joseph Smith was a prophet, foreordained by the Lord to restore His gospel, and that we have a living prophet today; that the priesthood has been restored to the earth; and that priesthood keys literally unlock God's power in behalf of all of us.