Overview
What is Wellington Management Foundation?
Wellington Management Foundation is a charitable organization headquartered in Boston, Massachusetts. Committed to enhancing educational opportunities for underprivileged youth, the foundation supports a variety of best-in-class programs and organizations within its communities. In 2022, it extended grants to 92 domestic organizations and 16 foreign ones, with grant sizes ranging from $10,000 to $1,425,000. Wellington Management Company LLP (WMC) covers the foundation's operational expenses, including office space, investment advisory services, and administrative support, amounting to $270,712, at no cost to the foundation. Furthermore, WMC covered additional expenses totaling $129,543 during the same year.
Official website here: www.wellington.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 77% - Three-Star out of Four Star rating
The Wellington Management Foundation has achieved a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. This score reflects a single beacon assessment, with a total score of 77%. The foundation demonstrates strong financial management, specifically noting a high program expense ratio of 98%, which suggests that a significant majority of its funding goes directly to its programs rather than administrative costs.
Despite its strengths, the foundation does face some limitations. It received a low score for fundraising efficiency, with a ratio of $0.012, indicating that fundraising efforts might not be as effective as desired. Additionally, the absence of several policies, including a conflict of interest policy and a whistleblower policy, could raise concerns about governance practices. However, the majority of the board members are independent, which is a positive aspect of its governance structure.
Overall, the Wellington Management Foundation shows a commitment to its mission through effective program funding but should address its fundraising strategies and governance policies to improve its accountability and transparency in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Wellington Management Foundation legitimate?
Wellington Management Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellington Management Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.wellington.com
What is the mission statement of Wellington Management Foundation?
The Wellington Management Foundation's mission is centered around supporting top-tier programs and organizations in various communities. Specifically, their focus is on enhancing the educational opportunities for underprivileged youth. They achieve this by providing grants to charitable organizations, with contributions ranging from $10,000 to $1,425,000 in 2022. Wellington Management Company LLP covers the foundation's operational expenses and provides additional support in the form of office space, investment advisory services, and administrative assistance, without charging the foundation. In 2022, Wellington Management Company LLP paid out $129,543 in foundation expenses.
Official website here: www.wellington.com
What is the revenue of Wellington Management Foundation?
Wellington Management Foundation's revenue in 2023 was $7,544,126.
Official website here: www.wellington.com
Who are the executives of Wellington Management Foundation and what are their salaries?
There 200 volunteers at Wellington Management Foundation.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.wellington.com
Where can I find the form 990 for Wellington Management Foundation?
Wellington Management Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wellington.com
Learn more at the official website: www.wellington.com
Mission Statement of Wellington Management Foundation
Wellington Management Foundation is committed to boosting the education and educational opportunities for underprivileged youth in various communities. This nonprofit organization achieves its mission by providing financial support to top-tier programs and organizations. In 2022 alone, Wellington Management Foundation funded 92 domestic organizations and 16 international ones, with grant sizes ranging from $10,000 to an impressive $1,425,000. It's worth noting that Wellington Management Company LLP (WMC) covers the operational expenses of the foundation, including office space, investment advisory services, and administrative support, amounting to $270,712, all at no cost to the foundation. Furthermore, during 2022, WMC paid a total of $129,543 for the foundation's expenses. By offering these resources, Wellington Management Foundation plays a significant role in empowering under-resourced youth through access to quality educational programs.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Wellington Management Foundation's impact lies in its substantial support for best-in-class programs and organizations that improve education and educational opportunities for under-resourced youth. In 2022, the foundation funded a total of 108 organizations, both domestic and foreign, with grants ranging from $10,000 to $1,425,000. This level of financial assistance directly contributes to enhancing the lives and future prospects of disadvantaged young people, thereby making a meaningful difference in their communities. Additionally, Wellington Management Company LLP covers the foundation's operating expenses and provides crucial support services at no charge, demonstrating a strong commitment to maximizing the impact of the foundation's philanthropic efforts.
This information is meant to be a general summary of Wellington Management Foundation. 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 2023.
- Investment Income: $1,082,170
- Gross Receipts: $14,415,647
Assets and Liabilities:
- Total Assets: $46,877,204
- Total Liabilities: $7,887,932
- Net Assets: $38,989,272
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
If you are a representative of Wellington Management Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.