Overview
What is Solimine Charitable Corporation?
Solimine Charitable Corporation is a nonprofit organization situated in Lynn, Massachusetts, specifically at 426 Broadway, ZIP code 01904. Their primary goal is to provide financial aid to local 501(c)(3) charities within the Greater Lynn area. The organization's mission is multifaceted, focusing on assisting veterans, youth, schools, and handicapped individuals, as well as supporting related programs in the community. This assistance can take various forms, from direct financial aid to potential programmatic support.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star Rating)
The Solimine Charitable Corporation has received an overall score of 87%, reflecting a solid performance in accountability and finance. This rating is particularly significant as it indicates a high level of transparency and responsible financial management for donors. The charity boasts a perfect score for having a completely independent board, with all five members free from conflicts of interest, which enhances its credibility and governance.
Strengths noted in the evaluation include a strong program expense ratio of 96.60%, suggesting that a significant portion of its funds is directed toward its programs rather than administrative costs. Additionally, the absence of material diversion of assets and well-established policies for conflict of interest, document retention, and board meeting documentation further demonstrate the organization’s commitment to ethical practices.
Despite these strengths, the rating is solely based on the accountability and finance metrics, which may limit the overall assessment of the charity's impact and effectiveness in fulfilling its mission. Prospective donors might benefit from seeking additional information regarding the organization's programs and outcomes to gain a comprehensive understanding of its contributions to the community.
This AI summary has been generated from information found on Charity Navigator.
Is Solimine Charitable Corporation legitimate?
Solimine Charitable Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Solimine Charitable Corporation 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
What is the mission statement of Solimine Charitable Corporation?
The Solimine Charitable Corporation's mission is centered around providing aid and assistance to various groups in need. Specifically, this includes veterans, youth, schools, and handicapped individuals, as well as supporting related programs in the greater Lynn area. To accomplish this, the corporation provides grants to eligible 501(c)(3) charities within the local area. This mission aims to contribute positively to these communities and enhance their well-being.
Who is the CEO of Solimine Charitable Corporation?
David J Solimine Jr is the Director of Solimine Charitable Corporation.
What is the revenue of Solimine Charitable Corporation?
Solimine Charitable Corporation's revenue in 2022 was $38,014.
Who are the executives of Solimine Charitable Corporation and what are their salaries?
There 5 volunteers at Solimine Charitable Corporation.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Solimine Charitable Corporation?
Solimine Charitable Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Solimine Charitable Corporation
Solimine Charitable Corporation, a nonprofit organization, is committed to assisting various groups in need within the greater Lynn area. Its mission is centered around providing support to veterans, youth, schools, and handicapped individuals, as well as contributing to local 501(C)(3) charities. By offering grants to these organizations, Solimine Charitable Corporation aims to make a tangible impact in the lives of those it serves, contributing to the betterment of its community.
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Impact
August, 2024
Solimine Charitable Corporation directly impacts the Greater Lynn area by providing grants to local area charities focused on assisting veterans, youths, schools, and handicapped individuals. Through their philanthropic efforts, they support programs that enhance the lives of those in need within the community. Their mission to uplift and empower vulnerable populations underscores their commitment to fostering positive change in Lynn, MA.
This information is meant to be a general summary of Solimine Charitable Corporation. 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: $871
- Gross Receipts: $43,704
Assets and Liabilities:
- Total Assets: $6,647,390
- Total Liabilities: $3,230,000
- Net Assets: $3,417,390
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Organization Details
Founding Year
2004
Phone
(781) 599-8238Principal Officer
David J Solimine Jr
Main Address
426 BROADWAY, LYNN, MA, 01904
NTEE Category
Code: T30 - Philanthropy
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