Overview
What is Suffolk Foundation?
Suffolk Foundation is a nonprofit organization situated in Suffolk, Virginia, with a mission to foster philanthropy for the betterment of its local citizens. Established in 2006, it has awarded over $6.8 million in grants and more than $300,000 in scholarships to support various sectors within the community, including health, education, arts, culture, environment, animal welfare, and human needs and services. In 2022, the foundation granted $150,000 to 33 local nonprofit organizations and offered $58,000 in scholarships to aid students with college expenses. With a strong commitment to its community, the Suffolk Foundation employs six individuals and continues to develop and facilitate charitable contributions, contributing a total of $696,000 in grants and scholarships to the region in 2022.
Official website here: www.suffolkfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 85% - Three-Star out of Four Star rating
Suffolk Foundation has earned a solid Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The charity's score is primarily driven by its impressive 85% in the Accountability & Finance category, indicating effective management of its resources and transparency in operations.
A notable strength of the foundation is its governance structure, which features a fully independent board of 19 members, ensuring unbiased decision-making. With no material diversion of assets and a robust conflict of interest policy, the foundation demonstrates a high level of integrity. Additionally, the foundation excels in financial management, with 85.06% of its expenses allocated directly to programs.
While the overall rating is strong, potential donors and stakeholders may look for further insights into the foundation's programmatic impact and outcomes, as this information is not detailed in the financial metrics alone. Nevertheless, the foundation's comprehensive policies and financial ratios present a reliable picture of its operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Suffolk Foundation legitimate?
Suffolk Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Suffolk 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:
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Other Salaries and Wages: $103,158
For more financial information, click here
Official website here: www.suffolkfoundation.org
What is the mission statement of Suffolk Foundation?
The Suffolk Foundation's mission is centered around facilitating and promoting philanthropy to enhance the lives of citizens in specific areas. Their focus is on various sectors such as health, education, arts, culture, the environment, animal welfare, and human needs and services. Since its establishment in 2006, the foundation has distributed over $6.8 million in grants and over $300,000 in scholarships, benefiting the community. In 2022 alone, the foundation awarded $150,000 in community impact grants to 33 nonprofit organizations and $58,000 in scholarships to local students for college expenses, further supporting their mission.
Official website here: www.suffolkfoundation.org
Who is the CEO of Suffolk Foundation?
Mary Haddad is the President of Suffolk Foundation.
Official website here: www.suffolkfoundation.org
What is the revenue of Suffolk Foundation?
Suffolk Foundation's revenue in 2022 was $1,330,106.
Official website here: www.suffolkfoundation.org
Who are the executives of Suffolk Foundation and what are their salaries?
The average compensation at Suffolk Foundation during 2022 was $17,193. There are 6 employees and 23 volunteers at Suffolk Foundation.
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Official website here: www.suffolkfoundation.org
Where can I find the form 990 for Suffolk Foundation?
Suffolk Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.suffolkfoundation.org
Learn more at the official website: www.suffolkfoundation.org
Mission Statement of Suffolk Foundation
The Suffolk Foundation, established in 2006, is committed to fostering philanthropy with the aim of enhancing the lives of citizens in its vicinity. Its mission is geared towards channeling resources towards health, education, arts, culture, environmental conservation, animal welfare, and addressing human needs and services. By awarding grants, the foundation has contributed over $6.8 million to various initiatives within its scope, in addition to providing over $300,000 in scholarships.
In 2022, the Suffolk Foundation continued its philanthropic endeavors, distributing $150,000 in community impact grants to 33 nonprofit organizations. These grants supported initiatives that catered to the needs of the local community. Furthermore, the foundation awarded $58,000 in scholarships to deserving students, aiding them in covering their college expenses. The Suffolk Foundation's far-reaching support extends beyond these financial contributions, as it also contributes through its Women's Impact Fund, designated funds, and a multitude of grants and scholarships. Through these various avenues, the Suffolk Foundation plays a pivotal role in uplifting its community, investing a total of $696,000 in grants and educational awards during this period.
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Impact
October, 2024
The Suffolk Foundation has significantly impacted the community by facilitating and developing philanthropy that directly benefits the citizens of Suffolk and the surrounding areas. Since its inception in 2006, the foundation has awarded over $6.8 million in grants and more than $300,000 in scholarships, providing essential support for various sectors, including health, education, arts, culture, the environment, animal welfare, and human services.
In 2022 alone, the foundation awarded $150,000 in community impact grants to 33 organizations serving Suffolk and Western Tidewater, demonstrating a strong commitment to local needs. Additionally, it provided $58,000 in scholarships to local students, helping to alleviate college expenses and enhance educational opportunities. Overall, the Suffolk Foundation supported the community with a total of $696,000 in grants and educational awards, reflecting its ongoing dedication to improving the quality of life for residents in the region.
This information is meant to be a general summary of Suffolk 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: $341,860
- Gross Receipts: $3,938,969
Assets and Liabilities:
- Total Assets: $11,006,379
- Total Liabilities: $2,527
- Net Assets: $11,003,852
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Organization Details
Founding Year
2006
Phone
(757) 923-9090Principal Officer
Mary Haddad
Main Address
110 W FINNEY AVE 100, SUFFOLK, VA, 23434
Website
www.suffolkfoundation.orgNTEE Category
Code: T31 - Philanthropy
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