Overview
What is Algona Family Ymca Foundation?
The Algona Family YMCA Foundation is a charitable organization established to support the YMCA in Algona, Iowa. Its primary role is to manage funds for the benefit of the YMCA, focusing on subsidizing anticipated operating deficits, specifically for an indoor pool project. This initiative aims to benefit the entire community. The foundation provides ongoing financial support to the YMCA, a qualified 501(c)(3) organization, by making substantial contributions. These contributions are then invested and managed as an endowment, with the objective of providing funds to subsidize the YMCA's programming for the community's benefit.
Is Algona Family Ymca Foundation legitimate?
Algona Family Ymca Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Algona Family Ymca 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
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What is the mission statement of Algona Family Ymca Foundation?
The Algona Family YMCA Foundation's mission is to provide ongoing financial support to the Algona Family YMCA, a qualified 501(c)(3) organization. Large contributions made to the supported organization are invested and managed as an endowment, benefiting the YMCA and providing funds to subsidize its programming for the benefit of the community. The foundation's primary goal is to support the YMCA, particularly in funding an anticipated operating deficit for an indoor pool, which will benefit the entire community. The grants are paid directly to the Algona Family YMCA to facilitate fundraising for the pool project and subsidize operating expenses.
Who is the CEO of Algona Family Ymca Foundation?
Paul R Doster is the President of Algona Family Ymca Foundation.
What is the revenue of Algona Family Ymca Foundation?
Algona Family Ymca Foundation's revenue in 2022 was $473,721.
Who are the executives of Algona Family Ymca 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 Algona Family Ymca Foundation?
Algona Family Ymca Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Algona Family Ymca Foundation
The Algona Family YMCA Foundation's mission is centered around providing ongoing financial support to the Algona Family YMCA, a recognized 501(c)(3) organization. Large contributions made to this supported organization are then invested and managed as an endowment, ultimately benefiting the YMCA by providing funds to subsidize its programming. This subsidization is intended for the betterment of the community at large. The Algona Family YMCA established this foundation specifically to manage invested funds, with a particular focus on supporting an anticipated operating deficit for an indoor pool project. These grants are paid directly to the Algona Family YMCA to facilitate fundraising for the pool project and help cover its operating expenses.
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Impact
October, 2024
The Algona Family YMCA Foundation significantly enhances community well-being by providing ongoing financial support to the Algona Family YMCA. By managing invested funds as an endowment, the Foundation plays a crucial role in subsidizing programming and addressing operating deficits, particularly those associated with the vital indoor pool project. This endeavor directly benefits the entire community, ensuring access to recreational and fitness programs that promote health and wellness. The Foundation's contributions not only facilitate fundraising efforts for essential infrastructure but also alleviate operating expenses, thereby making it possible for the YMCA to offer diverse and affordable services to residents. In this way, the Foundation reinforces the YMCA’s mission, fostering a vibrant community through sustained philanthropic investment.
This information is meant to be a general summary of Algona Family Ymca 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: $465,714
- Gross Receipts: $2,988,857
Assets and Liabilities:
- Total Assets: $3,152,633
- Total Liabilities: $0
- Net Assets: $3,152,633
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Organization Details
Founding Year
2007
Principal Officer
Paul R Doster
Main Address
2101 E MCGREGOR, ALGONA, IA, 50511
NTEE Category
Code: T11 - Philanthropy
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