Overview
What is Greater Worcester Community Foundation Inc?
Greater Worcester Community Foundation Inc, based in Worcester, Massachusetts, is a nonprofit organization dedicated to fostering healthy and thriving communities in Central Massachusetts. Through donor-advised and designated grantmaking, the foundation builds charitable endowments and supports local nonprofits by allowing donors to suggest specific grants from their funds. The foundation's mission encompasses collaborating with donors and providing assistance to various nonprofit organizations within the region. With a team of 15 employees, Greater Worcester Community Foundation serves as a vital resource for Central Massachusetts, encouraging community growth and development.
Official website here: www.greaterworcester.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 100% - Four-Star out of Four Stars .ating.
The Greater Worcester Community Foundation Inc has achieved an impressive 100% score, which reflects its strong commitment to accountability and financial management. The foundation's excellent performance is particularly highlighted by its perfect score in the Accountability & Finance category, demonstrating transparency and responsible governance practices.
A key strength of the organization is its fully independent board, consisting of 20 members, all of whom ensure that decision-making is free from conflicts of interest. Additionally, the foundation adheres to best practices in financial oversight, with thorough audits and the necessary policies in place to safeguard its assets and operations.
The organization also excels in financial ratios, showcasing a high program expense ratio and low fundraising costs, indicating effective use of resources. However, the data does not present any specific limitations or concerns regarding its operations, further establishing the Greater Worcester Community Foundation as a trustworthy and efficient nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Worcester Community Foundation Inc legitimate?
Greater Worcester Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Worcester Community Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $428,050
Professional Fundraising Fees: $0
Other Salaries and Wages: $584,064
For more financial information, click here
Official website here: www.greaterworcester.org
What is the mission statement of Greater Worcester Community Foundation Inc?
The Greater Worcester Community Foundation is dedicated to fostering healthy and thriving communities in Central Massachusetts. It accomplishes this mission by partnering with donors, constructing charitable endowments, and offering assistance to local non-profits. The foundation's role extends beyond just grantmaking, as it works collaboratively with donors to suggest grants from their funds. This approach allows for a more personalized impact and alignment with the donors' philanthropic goals. Additionally, the foundation provides support for non-profit organizations in establishing their own agency funds, enabling them to benefit from the foundation's expertise and resources. Through these endeavors, the Greater Worcester Community Foundation plays a vital role in strengthening the social fabric of Central Massachusetts.
Official website here: www.greaterworcester.org
Who is the CEO of Greater Worcester Community Foundation Inc?
Peter Dunn is the Vice President For Program of Greater Worcester Community Foundation Inc.
Official website here: www.greaterworcester.org
What is the revenue of Greater Worcester Community Foundation Inc?
Greater Worcester Community Foundation Inc's revenue in 2022 was $20,277,510.
Official website here: www.greaterworcester.org
Who are the executives of Greater Worcester Community Foundation Inc and what are their salaries?
The average compensation at Greater Worcester Community Foundation Inc during 2022 was $67,474. There are 15 employees and 251 volunteers at Greater Worcester Community Foundation Inc.
Here are 26 key members and their salaries:
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Official website here: www.greaterworcester.org
Where can I find the form 990 for Greater Worcester Community Foundation Inc?
Greater Worcester Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.greaterworcester.org
Learn more at the official website: www.greaterworcester.org
Mission Statement of Greater Worcester Community Foundation Inc
Greater Worcester Community Foundation, a mission-driven organization, is dedicated to fostering healthy and thriving communities in Central Massachusetts. By collaborating with donors and building charitable endowments, this foundation plays a pivotal role in supporting local nonprofits.
In essence, the Greater Worcester Community Foundation functions as a bridge between givers and grant recipients. Donors have the opportunity to suggest specific grants from their funds, either as endowments for particular agencies or as agency funds for the nonprofits' own benefit. Through this process, the foundation helps ensure that resources are allocated effectively to address the unique needs of the community.
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Impact
October, 2024
Greater Worcester Community Foundation Inc focuses on building healthy and vibrant communities in Central Massachusetts. By collaborating with donors, the foundation creates charitable endowments that provide long-term support for various community initiatives.
Their approach includes donor advised and designated grantmaking, allowing donors to direct specific grants from their funds. This structure fosters a strong relationship between the foundation and the community, ensuring that resources are allocated where they are most needed. Additionally, the foundation supports nonprofit organizations through established agency funds, further enhancing the impact of local initiatives.
Overall, Greater Worcester Community Foundation Inc plays a crucial role in strengthening the social fabric of the region, driving positive change, and fostering a philanthropic culture that benefits the entire community.
This information is meant to be a general summary of Greater Worcester Community Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,639,894
- Program Service Revenue: $290,074
- Gross Receipts: $47,908,694
Assets and Liabilities:
- Total Assets: $175,495,578
- Total Liabilities: $39,632,416
- Net Assets: $135,863,162
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AGENCY FUND FEES
Revenue
$290,074
Organization Details
Founding Year
1975
Phone
(508) 755-0980Principal Officer
Peter Dunn
Main Address
370 MAIN STREET, WORCESTER, MA, 01608
Website
www.greaterworcester.orgNTEE Category
Code: T310 - Philanthropy
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