Overview
What is Omega Life Membership Foundation Inc?
Omega Life Membership Foundation Inc is a nonprofit organization based in Washington, D.C. Its primary objective is to provide grants to other nonprofit organizations to enhance the academic capabilities of students. The foundation identifies areas where academic deficiencies exist and focuses its grants on building up these areas. Its mission is to support the growth and development of students, aiming to improve their overall academic performance. The specifics of its activities and the number of employees are not provided in the information.
Official website here: www.olmf.org
What are the reviews and ratings of this charity?
Charity Navigator rates Omega Life Membership Foundation Inc with a score of 66%, which translates to a Two-Star out of Four Star rating. This rating reflects the organization’s performance in Accountability & Finance, suggesting that there are several areas for improvement, particularly concerning governance and transparency.
One notable strength is the foundation's program expense ratio, which stands at 74.98%. This indicates that a significant portion of its expenses is directed towards its programs rather than administrative costs, showcasing a commitment to its mission. Furthermore, the organization has established essential policies such as conflict of interest and whistleblower policies, which are positive indicators of operational governance.
However, the lack of independent board members and the absence of publicly available financial statements are significant weaknesses. The organization currently has no independent board members, which raises concerns about oversight and accountability. Additionally, while the foundation's website is listed on its tax forms, key documents such as tax forms are missing from its website, limiting transparency for potential donors and the public.
This AI summary has been generated from information found on Charity Navigator.
Is Omega Life Membership Foundation Inc legitimate?
Omega Life Membership Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Omega Life Membership Foundation Inc 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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Official website here: www.olmf.org
What is the mission statement of Omega Life Membership Foundation Inc?
The Omega Life Membership Foundation Inc's mission is centered around providing grants to nonprofit organizations. Their primary objective is to strengthen students and focus on improving areas where academic deficiencies can be addressed. The foundation aims to support organizations that can effectively enhance students' abilities, thereby filling in any academic gaps.
Official website here: www.olmf.org
Who is the CEO of Omega Life Membership Foundation Inc?
Kenneth Patterson is the Director of Omega Life Membership Foundation Inc.
Official website here: www.olmf.org
What is the revenue of Omega Life Membership Foundation Inc?
Omega Life Membership Foundation Inc's revenue in 2021 was $1,330,874.
Official website here: www.olmf.org
Who are the executives of Omega Life Membership Foundation Inc and what are their salaries?
Here are 18 key members and their salaries:
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Official website here: www.olmf.org
Where can I find the form 990 for Omega Life Membership Foundation Inc?
Omega Life Membership Foundation Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.olmf.org
Learn more at the official website: www.olmf.org
Mission Statement of Omega Life Membership Foundation Inc
Omega Life Membership Foundation Inc is an organization that dedicates its resources to granting funds to nonprofit entities. Its mission is centered around bolstering the capabilities of students and focusing on the domains where academic shortcomings may be rectified. By providing these grants, Omega Life Membership Foundation Inc aims to contribute to the overall improvement of academic performance in students. The foundation's objective is to positively impact the educational journey of students, focusing on areas where they might require additional support.
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Impact
October, 2024
Omega Life Membership Foundation Inc significantly impacts education by providing targeted grants to organizations aimed at strengthening students’ academic skills. By focusing on areas where academic deficiencies are prevalent, the foundation helps enhance educational outcomes and promotes equity in learning opportunities. This support empowers various organizations to develop and implement programs that address specific student needs, fostering a more robust learning environment. Through its initiatives, the foundation plays a crucial role in shaping the academic success of students within the community.
This information is meant to be a general summary of Omega Life Membership Foundation Inc. 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 2021.
- Investment Income: $198,591
- Program Service Revenue: $11,407
- Gross Receipts: $1,830,062
Assets and Liabilities:
- Total Assets: $7,350,180
- Total Liabilities: $9,999
- Net Assets: $7,340,181
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
VIRTUAL MEETING REGISTRATION
Revenue
$10,060
PIN INCOME
Revenue
$1,347
Organization Details
Founding Year
1984
Phone
(202) 544-0937Principal Officer
Kenneth Patterson
Main Address
PO BOX 92882, WASHINGTON, DC, 200902882
Website
www.olmf.orgNTEE Category
Code: T22Z - Philanthropy
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