Overview
What is Coserv Charitable Foundation?
Coserv Charitable Foundation is a nonprofit organization situated in Corinth, Texas. Their primary mission is to contribute to the well-being of their local community by financially supporting various local not-for-profits. To accomplish this, they provide both direct financial assistance to individuals and families in need and offer grants to local charities that deliver essential services. Furthermore, the foundation supports education by funding education foundations and considers requests for assistance. In total, Coserv Charitable Foundation has funded 104 grants, with 23 of them being for education foundations. Despite having 22 requests for funding turned down, the foundation remains committed to their mission.
Official website here: www.coserv.com/community
What are the reviews and ratings of this charity?
Charity Navigator rating: 3 stars (77%)
The Coserv Charitable Foundation has earned a three-star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The organization is rated based entirely on its financial practices, with a notable accountability & finance score of 77%. This indicates that they maintain a good standard of transparency and financial health, with all financial statements audited and no material diversions of assets reported.
Strengths of the foundation include a perfect score in several accountability metrics, such as having a conflict of interest policy and documenting board meeting minutes. Additionally, the foundation demonstrates strong financial stability, as evidenced by a liabilities to assets ratio of 0.00% and a program expense ratio of 100%, suggesting that all expenses are allocated toward their programs effectively.
However, the high salaries of key personnel, ranging from $327,964 to $351,839, may raise questions for some donors regarding the allocation of funds. While the foundation scores well in financial accountability, potential contributors might want to consider these salary figures when evaluating the overall impact of their donations.
This AI summary has been generated from information found on Charity Navigator.
Is Coserv Charitable Foundation legitimate?
Coserv Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coserv Charitable 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.coserv.com/community
What is the mission statement of Coserv Charitable Foundation?
The Coserv Charitable Foundation's mission is centered around providing vital support to the community. It achieves this by offering financial assistance directly to individuals and their families in need, as well as making contributions to local charities and community projects. Furthermore, the foundation grants funds to local non-profit organizations that deliver essential services to the community or support educational initiatives. By doing so, the Coserv Charitable Foundation aims to enhance the well-being of its community and contribute to the success of various charitable endeavors. In the past year, the organization has funded 104 grants, which included support for 23 education foundations, while 22 funding requests were turned down.
Official website here: www.coserv.com/community
Who is the CEO of Coserv Charitable Foundation?
Brent Bishop is the Vice President of Coserv Charitable Foundation.
Official website here: www.coserv.com/community
What is the revenue of Coserv Charitable Foundation?
Coserv Charitable Foundation's revenue in 2022 was $1,652,314.
Official website here: www.coserv.com/community
Who are the executives of Coserv Charitable Foundation and what are their salaries?
There 37 volunteers at Coserv Charitable Foundation.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $327,964
- Other: $209,297
- Compensation: $0
- Related: $351,839
- Other: $157,000
- Compensation: $0
- Related: $344,895
- Other: $152,091
- Compensation: $0
- Related: $339,037
- Other: $161,353
- Compensation: $0
- Related: $276,745
- Other: $59,877
- Compensation: $0
- Related: $278,087
- Other: $132,263
- Compensation: $0
- Related: $339,704
- Other: $168,998
Official website here: www.coserv.com/community
Where can I find the form 990 for Coserv Charitable Foundation?
Coserv Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.coserv.com/community
Learn more at the official website: www.coserv.com/community
Mission Statement of Coserv Charitable Foundation
Coserv Charitable Foundation is committed to making a significant impact within the community by sponsoring local non-profit organizations. Their mission is twofold. Firstly, they provide financial assistance to individuals and their families directly, offering specific aid and contributions to charities and community projects. Secondly, the foundation grants funds to local non-profit organizations that offer critical services to the community and support education. By doing so, Coserv Charitable Foundation aims to uplift families and contribute to the overall well-being of the community. In the past, they have funded 104 grants, with 23 of these going towards education foundations. However, 22 requests for funding were not granted, indicating a selective approach to their philanthropic efforts.
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Impact
October, 2024
Coserv Charitable Foundation significantly impacts the community by funding critical services that support families and education. In recent efforts, the foundation provided 104 grants, bolstering 23 education foundations and ensuring vital resources reach those in need. By channeling financial assistance and supporting local charities and community projects, the foundation directly contributes to enhancing the quality of life in Corinth, TX. While not every request for funding can be met—22 were denied—the foundation's commitment to addressing essential community needs remains steadfast, enriching the lives of individuals and families through targeted financial support and collaboration with local nonprofits.
This information is meant to be a general summary of Coserv Charitable 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 2022.
- Investment Income: $325
- Gross Receipts: $1,652,314
Assets and Liabilities:
- Total Assets: $179,130
- Total Liabilities: $0
- Net Assets: $179,130
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Organization Details
Founding Year
2004
Phone
(940) 321-7800Principal Officer
Brent Bishop
Main Address
7701 SOUTH STEMMONS FREEWAY, CORINTH, TX, 762101842
Website
www.coserv.com/communityNTEE Category
Code: T30 - Philanthropy
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