Overview
What is Midwest Support Foundation Inc?
Midwest Support Foundation Inc is a nonprofit organization situated in Indianapolis, Indiana. With a primary focus on charitable and educational purposes, they aim to combat community deterioration while preserving historical foundations. This is achieved by developing and fostering low-income housing, thereby providing a range of educational, social, and cultural services tailored to the unique needs of local communities throughout the Midwest. Additionally, they are actively involved in leading real estate development and historic rehabilitation projects, improving or encouraging improvement of key properties that contribute to overall redevelopment efforts in the Midwest. This is facilitated through financing and subsidy funds.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star rating.
Midwest Support Foundation Inc demonstrates strong performance in accountability and finance, earning an overall score of 87%. The organization has a fully independent board with 100% of members not having conflicts of interest, which enhances its governance structure. Notably, the charity has a high program expense ratio of 96.82%, indicating that the majority of its funds are directed towards its mission rather than administrative costs.
Strengths of the foundation include a commitment to transparency and compliance, as evidenced by its documented policies for conflict of interest and document retention. Additionally, the organization has maintained a low liabilities to assets ratio of 14.50%, highlighting its financial stability. The board’s meeting minutes are available, which bolsters the foundation's accountability.
While the foundation has shown commendable governance and financial health, the three-star rating suggests there may be areas for improvement that are not specified in the data. Overall, Midwest Support Foundation Inc is characterized by strong accountability practices and a focus on maximizing program impact.
This AI summary has been generated from information found on Charity Navigator.
Is Midwest Support Foundation Inc legitimate?
Midwest Support Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midwest Support 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $55,255
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What is the mission statement of Midwest Support Foundation Inc?
The Midwest Support Foundation Inc is organized for charitable and educational purposes, primarily focusing on combating community deterioration. They achieve this by developing and fostering low-income housing, while preserving the historical character of the community. The foundation's goal is to provide educational, social, and cultural services tailored to the needs of the community and its neighborhoods throughout the Midwest. These services aim to enhance the quality of life and promote community development.
Who is the CEO of Midwest Support Foundation Inc?
Janine Betsey is the Chair / Treasurer of Midwest Support Foundation Inc.
What is the revenue of Midwest Support Foundation Inc?
Midwest Support Foundation Inc's revenue in 2022 was $473,300.
Who are the executives of Midwest Support Foundation Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Midwest Support Foundation Inc?
Midwest Support Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midwest Support Foundation Inc
Midwest Support Foundation Inc is an organization with a charitable and educational mission. Its primary goal is to combat community deterioration by developing and fostering low-income housing, while preserving the historical character of the community. This mission is aimed at providing essential educational, social, and cultural services that cater to the needs of the community and its neighborhoods across the Midwest. The foundation's objective is to enhance the quality of life in these communities by offering services tailored to their unique requirements.
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Impact
July, 2024
Midwest Support Foundation Inc's impact is focused on combating community deterioration by developing and fostering low-income housing while maintaining the historic foundation of the community. Through its real estate development initiatives, the organization plays a crucial role in leading the development and historic rehabilitation of commercial or mixed-use buildings in the Midwest. By receiving financing and subsidy funds, Midwest Support Foundation directly improves or encourages the improvement of key properties essential to overall redevelopment efforts in the region. Overall, their work helps provide educational, social, and cultural services based on community and neighborhood needs throughout the Midwest, contributing significantly to community improvement.
This information is meant to be a general summary of Midwest Support 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: $186,966
- Program Service Revenue: $286,334
- Gross Receipts: $473,300
Assets and Liabilities:
- Total Assets: $17,449,030
- Total Liabilities: $2,531,012
- Net Assets: $14,918,018
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEE
Revenue
$254,507
PARTNERSHIP MANAGEMENT
Revenue
$31,827
Organization Details
Founding Year
2002
Phone
(317) 282-0220Principal Officer
Janine Betsey
Main Address
1301 E WASHINGTON ST SUITE 100, INDIANAPOLIS, IN, 46202
NTEE Category
Code: S20 - Community improvement
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