Overview
What is Ocean State Job Lot Charitable Foundation?
Ocean State Job Lot Charitable Foundation is a nonprofit organization situated in North Kingston, Rhode Island (RI 02852). Their main mission is to support underprivileged communities, providing essential resources such as food, shelter, clothing, and medical aid. They also offer educational scholarships to help individuals in need further their education. The foundation receives contributions from the general public and a corporate donor, which they channel towards various food banks in New England, New York, New Jersey, and Pennsylvania, as well as a hospital serving indigent patients in Massachusetts. This nonprofit organization demonstrates a strong commitment to enhancing the lives of less fortunate individuals in these regions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
The Ocean State Job Lot Charitable Foundation has received an 85% rating on Charity Navigator, indicating a solid performance in accountability and finance. This rating reflects a comprehensive evaluation based solely on the organization’s financial practices, ensuring a high level of transparency and responsibility in managing its resources.
The foundation excels in various areas, including having a fully independent board and strong oversight of financial statements. It demonstrates effective policies related to conflict of interest and document retention, ensuring that it operates with integrity and accountability. Additionally, the organization allocates a significant portion of its funds to programs, with a program expense ratio of 99.73%, which underscores its commitment to its mission.
However, there are areas where the foundation could improve, particularly in fundraising efficiency and working capital. The fundraising efficiency ratio is notably low, and the working capital ratio indicates limited liquidity, which may impact the foundation's ability to respond to unforeseen financial challenges. Overall, while the foundation shows strong accountability and financial practices, addressing these limitations could enhance its effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Ocean State Job Lot Charitable Foundation legitimate?
Ocean State Job Lot Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocean State Job Lot 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
What is the mission statement of Ocean State Job Lot Charitable Foundation?
The Ocean State Job Lot Charitable Foundation's mission is centered around providing essential support to individuals in need. This encompasses providing necessary food, shelter, clothing, and medical care. Additionally, the foundation offers educational scholarships to help individuals further their education. The organization sources its funding from contributions received from the general public and a corporate donor, specifically for supporting food banks across New England, New York, New Jersey, and Pennsylvania, as well as a hospital serving indigent patients in Massachusetts.
Who is the CEO of Ocean State Job Lot Charitable Foundation?
John Conforti is the President of Ocean State Job Lot Charitable Foundation.
What is the revenue of Ocean State Job Lot Charitable Foundation?
Ocean State Job Lot Charitable Foundation's revenue in 2022 was $8,572,095.
Who are the executives of Ocean State Job Lot Charitable Foundation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Ocean State Job Lot Charitable Foundation?
Ocean State Job Lot Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ocean State Job Lot Charitable Foundation
Ocean State Job Lot Charitable Foundation is a philanthropic organization dedicated to providing essential resources to those in need. Its mission, as stated, involves offering necessary food, shelter, clothing, and educational scholarships. This foundation aims to alleviate hardships by supporting various institutions and initiatives, such as food banks distributed across New England, New York, New Jersey, and Pennsylvania, as well as a hospital that serves indigent patients in Massachusetts. By providing these essentials, Ocean State Job Lot Charitable Foundation contributes to enhancing the living conditions and opportunities of the less fortunate individuals it serves.
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Impact
August, 2024
The Ocean State Job Lot Charitable Foundation makes a significant impact by providing essential support to food banks, shelters, hospitals, and educational scholarships. With contributions from the general public and corporate donors, the foundation helps address critical needs in communities throughout New England, New York, New Jersey, and Pennsylvania. By focusing on providing necessities like food, shelter, clothing, medicine, and educational opportunities, the foundation positively impacts the lives of individuals and families in need.
This information is meant to be a general summary of Ocean State Job Lot 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: $185,143
- Gross Receipts: $10,375,658
Assets and Liabilities:
- Total Assets: $3,623,546
- Total Liabilities: $1,180,886
- Net Assets: $2,442,660
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Organization Details
Founding Year
2004
Phone
(401) 295-2672Principal Officer
John Conforti
Main Address
375 COMMERCE PARK RD, NORTH KINGSTOWN, RI, 02852
NTEE Category
Code: P60 - Human services
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