Overview
What is Independence Foundation Inc?
Independence Foundation Inc, situated in Ravenna, Ohio, is a dedicated nonprofit organization. Its primary objective is to aid individuals with intellectual disabilities by addressing their unmet needs. This is accomplished through supporting organizations such as Independence of Portage County, Inc and Paths to Independence Inc. The foundation provides essential resources, including clothing and other personal necessities, to assist these organizations in their mission to empower and improve the lives of those they serve.
Official website here: www.indport2.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (57%)
Independence Foundation Inc has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its financial health and accountability. The charity scored 57% overall, with strengths evident in its governance structure, including a 100% independent board and no material diversion of assets. These factors contribute positively to its accountability, with robust policies on conflict of interest, whistleblower protection, and document retention.
However, the foundation's financial metrics raise red flags. Its liabilities to assets ratio stands at 45.36%, which suggests potential financial instability. Additionally, the program expense ratio is notably low at 4.12%, indicating that a minimal portion of its funds is directed towards its programs and services. This situation may point to inefficiencies in resource allocation that could hinder the charity's effectiveness in fulfilling its mission.
Overall, while Independence Foundation Inc demonstrates strong governance practices, the financial concerns highlighted by its low ratings in program expenses and liabilities necessitate careful consideration by potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Independence Foundation Inc legitimate?
Independence Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Independence 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: $0
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Official website here: www.indport2.org
What is the mission statement of Independence Foundation Inc?
The Independence Foundation Inc is committed to assisting in meeting the unfunded needs of Independence of Portage County, Inc, Paths to Independence Inc, and the individuals they serve with intellectual disabilities. This is achieved by providing client assistance, including offering necessary clothing and personal needs. The foundation's goal is to support these organizations in their mission to help individuals with intellectual disabilities achieve greater independence. By doing so, the Independence Foundation Inc aims to contribute to their overall wellbeing and improve their quality of life.
Official website here: www.indport2.org
Who is the CEO of Independence Foundation Inc?
Michelle Madden is the President of Independence Foundation Inc. The CEO's salary of Independence Foundation Inc is $0 and their total compensation is $164,128.
Official website here: www.indport2.org
What is the revenue of Independence Foundation Inc?
Independence Foundation Inc's revenue in 2022 was $165,699.
Official website here: www.indport2.org
Who are the executives of Independence Foundation Inc and what are their salaries?
Here are 8 key members and their salaries (Independence Foundation Inc's CEO's salary is $0 and their total compensation is $164,128):
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $123,435
- Other: $40,693
Official website here: www.indport2.org
Where can I find the form 990 for Independence Foundation Inc?
Independence Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.indport2.org
Learn more at the official website: www.indport2.org
Mission Statement of Independence Foundation Inc
Independence Foundation Inc is dedicated to supporting the unmet needs of Independence of Portage County, Inc, Paths to Independence Inc, and the individuals they serve who have intellectual disabilities. Essentially, its mission is to provide assistance in various forms to help these organizations and individuals achieve greater independence. In practice, this can involve providing client assistance, such as supplying essential items like clothing and personal needs. By doing so, Independence Foundation Inc plays a crucial role in enhancing the lives of those with intellectual disabilities, enabling them to live more independently.
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Impact
October, 2024
Independence Foundation Inc has made a significant impact in the Ravenna community by addressing the unmet needs of individuals with intellectual disabilities. By providing crucial client assistance, including clothing and personal necessities, the organization enhances the quality of life for those served by Independence of Portage County and Paths to Independence Inc. Through its efforts, the Foundation plays an essential role in promoting independence and dignity for individuals, fostering a supportive environment that acknowledges and meets their unique challenges and requirements. This commitment not only uplifts the individuals directly involved but also strengthens the community by advocating for the needs of a often marginalized group, ensuring they have access to basic necessities and resources essential for their daily living and independence.
This information is meant to be a general summary of Independence 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: $143,145
- Gross Receipts: $569,539
Assets and Liabilities:
- Total Assets: $2,988,501
- Total Liabilities: $1,355,849
- Net Assets: $1,632,652
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Organization Details
Founding Year
2004
Phone
(330) 296-2851Principal Officer
Michelle Madden
Main Address
575 E LAKE STREET, RAVENNA, OH, 44266
Website
www.indport2.orgNTEE Category
Code: P12 - Human services
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