Overview
What is Osterman Community Foundation?
The Osterman Community Foundation is a charitable organization situated within the community, known for its commitment to alleviating financial hardships. They accomplish this goal through various programs, including the Shore Line Soup Kitchen and Cheshire Food Pantry. The foundation's primary mission is to serve as a financial lifeline for those in need, offering essential support during challenging times.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%, Zero-Star out of Four Star rating.
The Osterman Community Foundation has received a concerning rating of 33%, which indicates significant issues in accountability and finance practices. This score is derived solely from their financial management and transparency, where critical areas are lacking. Notably, while the foundation has a fully independent board and no material diversion of assets, it has a troubling program expense ratio of 0%, suggesting that funds are not being allocated toward its intended programs.
Further compounding these financial concerns, the foundation has several missing policies, including a conflict of interest policy and a whistleblower policy. Additionally, their tax form is not publicly available on their website, reducing transparency for potential donors and stakeholders. While the board's independence is commendable, the overall lack of financial accountability raises questions about the foundation's operational effectiveness and commitment to its mission.
Overall, the Osterman Community Foundation demonstrates strong governance through its independent board structure, yet the severe deficiencies in program funding and essential policy documentation warrant serious attention and improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Osterman Community Foundation legitimate?
Osterman Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Osterman Community 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.
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What is the mission statement of Osterman Community Foundation?
The Osterman Community Foundation serves as a community-driven organization, focusing on providing financial assistance during times of hardship. Through initiatives such as the Shore Line Soup Kitchen and Cheshire Food Pantry, the foundation offers vital support to individuals in need. The mission of the Osterman Community Foundation is to alleviate financial burdens and contribute to the well-being of its community members, ensuring they have access to essential resources during challenging circumstances.
What is the revenue of Osterman Community Foundation?
Osterman Community Foundation's revenue in 2024 was $205,503.
Who are the executives of Osterman Community Foundation and what are their salaries?
Here are 13 key members and their salaries:
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Where can I find the form 990 for Osterman Community Foundation?
Osterman Community Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Osterman Community Foundation
The Osterman Community Foundation, as a community-focused organization, is committed to alleviating financial hardships. It achieves this mission by implementing various programs, such as the Shore Line Soup Kitchen and Cheshire Food Pantry. Through these initiatives, the foundation provides essential support to individuals and families in need, ensuring they have access to vital resources during challenging times. By offering these services, the Osterman Community Foundation plays a crucial role in strengthening the community and promoting social well-being.
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Impact
October, 2024
Osterman Community Foundation significantly impacts the Cheshire, CT area by providing crucial financial relief during times of hardship. Through its support of local programs like the Shore Line Soup Kitchen and Cheshire Food Pantry, the foundation addresses food insecurity and ensures that community members have access to essential resources. By alleviating financial burdens, it strengthens the community's resilience and fosters a sense of solidarity among residents, ultimately enhancing the quality of life for many in the region. The foundation's commitment to philanthropy plays a vital role in uplifting those who are most vulnerable, promoting overall well-being within the community.
This information is meant to be a general summary of Osterman Community 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 2024.
- Investment Income: $19,357
- Gross Receipts: $291,887
Assets and Liabilities:
- Total Assets: $425,791
- Total Liabilities: $5,135
- Net Assets: $420,656
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Organization Details
Founding Year
2005
Principal Officer
Penny Thomas
NTEE Category
Code: T30 - Philanthropy
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