Overview
What is Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)?
The Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) is a charitable organization that has significantly contributed to the Greenwich Library in Connecticut. In the 1990s, the foundation funded the acquisition of land and the construction of a new wing to accommodate the Library's Business Section and Recorded Music Department. Currently, the foundation covers all maintenance, operational expenses, and necessary repairs for this wing, as overseen by both the Trustees and the Library's Board. The foundation's mission is to primarily support the Greenwich Library, with a special focus on enhancing the services provided by the Business Section and the Recorded Music Department.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
The Clementine Lockwood Peterson Foundation has received a score of 67%, which translates to a Two-Star rating. This rating indicates that while the organization demonstrates some accountability and financial transparency, there are notable areas for improvement. The foundation's accountability and finance score reflects specific concerns, especially regarding its board composition and adherence to best practices.
One strength of the foundation is its program expense ratio, which stands at an impressive 83.15%, signifying that a significant portion of its funds is directed towards its programs rather than administrative costs. However, critical deficiencies include the lack of independent board members and missing components such as the whistleblower policy and website accessibility for critical documents like tax forms, which could affect overall transparency and governance.
Overall, while the foundation shows commitment in certain financial areas, the gaps in governance practices and board independence highlight the need for improvement. Addressing these weaknesses could enhance its credibility and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) legitimate?
Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) is a legitimate nonprofit organization registered as a 501(c)(3) entity. Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) 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: $199,734
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)?
The Clementine Lockwood Peterson Foundation, managed by Cummings & Lockwood (Hst Iii), is dedicated to supporting a specific library. Its mission is to aid the library in enhancing its Business Section and Recorded Music Department. The foundation has shown its commitment by funding the construction of a new wing for these sections in the past. Additionally, it covers the maintenance, operational expenses, and necessary repairs of this wing, ensuring its continued functionality. The foundation's support aims to enrich these particular departments within the library, contributing to an improved overall library experience.
Who is the CEO of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)?
Howard S Tuthill Iii is the Trustee of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii).
What is the revenue of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)?
Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)'s revenue in 2023 was $66,544.
Who are the executives of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $66,578
- Related: $0
- Other: $0
- Compensation: $66,578
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)?
Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)'s most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii)
The Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) is committed to supporting the Greenwich Library in Greenwich, Connecticut. The foundation's focus lies mainly on the Business Section and the Recorded Music Department of the library. In the 1990s, the foundation played a significant role in funding the purchase of land and constructing a new wing for these sections. Currently, the foundation covers all maintenance and operational expenses of this wing, as well as any necessary capital repairs, ensuring the facility remains in excellent condition. The Trustees and the Library's Board oversee these approvals, ensuring the foundation's mission is consistently upheld.
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Impact
October, 2024
The Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii) significantly enhances the resources available at the Greenwich Library by funding vital infrastructure and services. Established primarily to support the Library's Business Section and Recorded Music Department, the Foundation has facilitated the construction of a dedicated wing, enabling these essential programs to grow and serve the community effectively.
Throughout its operations, the Foundation has covered all maintenance and operating expenses for this wing, ensuring that it remains a vibrant hub for learning and creativity. This financial backing allows for the ongoing provision of services and resources that benefit a wide range of patrons, from budding entrepreneurs seeking business insights to music enthusiasts exploring recorded works.
By prioritizing these areas, the Foundation actively contributes to the educational landscape of Greenwich, fostering a love for learning and providing critical support for community engagement through the arts and business education. Its commitment ensures that the Library remains a cornerstone of the community, continually adapting to the needs of its users while preserving vital cultural and educational resources.
This information is meant to be a general summary of Clementine Lockwood Peterson Foundation C/O Cummings & Lockwood (Hst Iii). 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: -$49,163
- Gross Receipts: $26,776,873
Assets and Liabilities:
- Total Assets: $29,669,051
- Total Liabilities: $0
- Net Assets: $29,669,051
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Organization Details
Founding Year
1992
Phone
(203) 351-4308Principal Officer
Howard S Tuthill Iii
Main Address
PO Box 120, Stamford, CT, 069040120
NTEE Category
Code: B110 - Education
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