Overview
What is Hopedale Charitable Corporation?
Hopedale Charitable Corporation is a nonprofit organization situated in Hopedale, Massachusetts. Its primary purpose is to support religious, charitable, scientific, literary, or educational initiatives. To accomplish this, the corporation creates and manages funds for eligible organizations within Hopedale and Milford, Massachusetts, ensuring a common investment of funds. Through its operations, the organization acquires, manages, and invests funds, collects income, and disburses it to beneficiary organizations, after deducting expenses. The profits from selling or disposing of assets are utilized for the same objectives. The corporation's mission encompasses various activities in line with its purposes, all within the parameters set by Chapter 180 of the General Laws of the Commonwealth of Massachusetts.
Is Hopedale Charitable Corporation legitimate?
Hopedale Charitable Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Hopedale Charitable Corporation 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.
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What is the mission statement of Hopedale Charitable Corporation?
The Hopedale Charitable Corporation is dedicated to serving religious, charitable, scientific, literary, or educational organizations. Its primary mission is to establish and manage funds for these organizations, aiming to invest their resources effectively. The corporation collects income from these investments and distributes the proceeds, less expenses, to the beneficiary organizations. Additionally, the corporation may also sell or reinvest the proceeds from the sale of assets for the same purposes. Overall, the Hopedale Charitable Corporation's role is to support the financial well-being of organizations in these fields.
Who is the CEO of Hopedale Charitable Corporation?
Peter S Ellis is the President of Hopedale Charitable Corporation.
What is the revenue of Hopedale Charitable Corporation?
Hopedale Charitable Corporation's revenue in 2022 was $3,191,219.
Who are the executives of Hopedale Charitable Corporation and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Hopedale Charitable Corporation?
Hopedale Charitable Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hopedale Charitable Corporation
The Hopedale Charitable Corporation is dedicated to serving organizations that fall under the categories of religious, charitable, scientific, literary, or educational. Its primary mission is to establish and manage funds for these organizations, aiming to provide them with financial support. The corporation invests these funds, collects the income generated, and subsequently distributes the proceeds to the beneficiary organizations, less any incurred expenses. The Hopedale Charitable Corporation's activities are in line with Chapter 180 of the General Laws of the Commonwealth of Massachusetts, enabling it to carry out its purpose of holding and investing funds for these organizations.
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Impact
October, 2024
Hopedale Charitable Corporation significantly impacts the local community by supporting various religious, charitable, scientific, literary, and educational organizations in Hopedale and Milford, MA. By establishing and managing funds dedicated to these organizations, the corporation ensures a steady flow of financial resources that bolster their activities and programs.
Through prudent investment and management of these funds, Hopedale Charitable Corporation not only provides immediate assistance but also focuses on long-term sustainability for the initiatives it supports. This creates a multiplier effect, where the income generated can continually be reinvested, enhancing the capacity of local organizations to meet community needs.
Additionally, by facilitating common investment opportunities, the corporation enables smaller organizations to benefit from economies of scale, which might otherwise be unattainable. This collaborative financial strategy fosters greater community improvement and empowers these organizations to enact positive changes.
In essence, Hopedale Charitable Corporation plays a crucial role in enhancing the capacity of local groups, ultimately contributing to the overall welfare and enrichment of the Hopedale and Milford communities.
This information is meant to be a general summary of Hopedale Charitable Corporation. 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: $3,191,219
- Gross Receipts: $16,065,309
Assets and Liabilities:
- Total Assets: $27,687,811
- Total Liabilities: $331,641
- Net Assets: $27,356,170
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Organization Details
Founding Year
1952
Phone
(508) 473-2871Principal Officer
Peter S Ellis
Main Address
P O Box 125, Hopedale, MA, 017470125
NTEE Category
Code: S47 - Community improvement
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