Overview
What is The Lake County Community Foundation?
The Lake County Community Foundation is a philanthropic grantmaking institution situated in Lake County, Illinois. Established in 2003, its mission is to unite philanthropists and donors, pooling resources and ideas to create enduring funds benefiting Lake County for present and future generations. This nonprofit corporation serves as a vital bridge between charitable organizations and their designated purposes, granting funds within the county. With a dedicated team of five employees, the Lake County Community Foundation plays a significant role in fostering community growth and development in the region.
Official website here: www.lakecountycf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95%
The Lake County Community Foundation has received an impressive Four-Star out of Four Star rating, indicating a high level of accountability and financial integrity. With a perfect score in categories such as independent board membership and financial oversight, the foundation demonstrates strong governance practices, which contribute positively to its overall standing. The organization's commitment to transparency is further evidenced by its comprehensive policies, including those for conflict of interest, whistleblower protection, and document retention.
Financially, the foundation shows commendable performance with a program expense ratio of 81.13%, meaning that a significant portion of its funds goes directly to its programs. The fundraising efficiency ratio is also strong, at just $0.04 to raise a dollar, which indicates effective use of resources in generating support. Moreover, the low liabilities to assets ratio of 1.21% reflects a solid financial position, suggesting prudent management of its resources.
While the data points to a well-managed organization, potential donors may want to consider how the foundation allocates its resources towards specific initiatives. Overall, the Lake County Community Foundation appears to be a reliable choice for those looking to support a nonprofit with a strong emphasis on accountability and a solid financial framework.
This AI summary has been generated from information found on Charity Navigator.
Is The Lake County Community Foundation legitimate?
The Lake County Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lake County 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $115,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $314,999
For more financial information, click here
Official website here: www.lakecountycf.org
What is the mission statement of The Lake County Community Foundation?
The Lake County Community Foundation is a philanthropic organization established with the purpose of uniting philanthropists, donors, and resources to create enduring funds that benefit the community for generations. Its mission is to bring together dollars and ideas, fostering collaboration among various parties to enhance the welfare of the community. As a grantmaking institution, it disperses funds to charitable organizations within a specific class or purpose, aiming to contribute positively to Lake County's socio-economic landscape.
Official website here: www.lakecountycf.org
Who is the CEO of The Lake County Community Foundation?
Steven Bugg is the Executive Di of The Lake County Community Foundation.
Official website here: www.lakecountycf.org
What is the revenue of The Lake County Community Foundation?
The Lake County Community Foundation's revenue in 2022 was $7,776,857.
Official website here: www.lakecountycf.org
Who are the executives of The Lake County Community Foundation and what are their salaries?
The average compensation at The Lake County Community Foundation during 2022 was $86,000. There are 5 employees and 20 volunteers at The Lake County Community Foundation.
Here are 21 key members and their salaries:
- Compensation: $26,749
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- Other: $113,431
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Official website here: www.lakecountycf.org
Where can I find the form 990 for The Lake County Community Foundation?
The Lake County Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakecountycf.org
Learn more at the official website: www.lakecountycf.org
Mission Statement of The Lake County Community Foundation
The Lake County Community Foundation, established in 2003, serves as a nonprofit corporation that brings together philanthropists, donors, and ideas with the sole purpose of building permanent funds to benefit Lake County, Illinois, for both current and future generations. This organization functions as a philanthropic grantmaking institution, distributing funds to charitable organizations within a designated class or purpose within Lake County. Its mission is to bring together resources and ideas, aiming to enhance the well-being and prosperity of the community it serves for generations to come.
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Impact
October, 2024
The Lake County Community Foundation plays a pivotal role in shaping the future of Lake County, Illinois, by uniting philanthropists with a shared vision for lasting impact. Established in 2003, it has successfully created permanent funds that not only address current needs but also secure resources for the community for generations to come.
Through strategic grantmaking, the Foundation allocates funds to a diverse array of charitable organizations, focusing on specific classes or purposes that enhance the quality of life in the region. By fostering collaboration and innovative solutions, it empowers local initiatives and nurtures grassroots efforts, ensuring that the philanthropic dollars are effectively utilized.
The Foundation's commitment to enriching the community is evident in its ability to bring together donors and ideas, creating a robust framework for sustainable development. Its presence in Lake County facilitates a culture of giving and support, connecting individuals and organizations to drive positive change that resonates across the local landscape. As a catalyst for philanthropy, The Lake County Community Foundation not only enriches lives today but also lays the groundwork for a vibrant and thriving future.
This information is meant to be a general summary of The Lake County 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 2022.
- Investment Income: $1,506,588
- Program Service Revenue: $163,600
- Gross Receipts: $11,657,742
Assets and Liabilities:
- Total Assets: $17,830,952
- Total Liabilities: $338,318
- Net Assets: $17,492,634
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE FEES
Revenue
$163,600
Organization Details
Founding Year
2005
Phone
(847) 377-0520Principal Officer
Steven Bugg
Main Address
1200 UNIVERSITY CENTER DR 333, GRAYSLAKE, IL, 600302614
Website
www.lakecountycf.orgNTEE Category
Code: T30 - Philanthropy
If you are a representative of The Lake County Community Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.