Overview
What is The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp?
The Harvard Crimson Trust II, under the guidance of Philip Cronin at Peabody & Arnold LLP, is a nonprofit organization with a generous commitment to supporting Harvard Crimson, Inc., a 501(c)(3) entity. They offer the use of a building and land at a value of approximately $300,000 in rent for 2021, completely free of charge. Moreover, they ensure the property remains in good condition and fulfill other necessary obligations. This generous act enables Harvard Crimson, Inc. to carry out its charitable missions effectively, contributing to their mission of providing beneficial services to society.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement. The Harvard Crimson Trust II has received a Two-Star out of Four Star rating with an overall score of 70%. While the organization demonstrates strengths in having a majority independent board and excellent ratios for liabilities to assets and program expenses, it also shows significant areas needing improvement, particularly in policy documentation and transparency.
The Trust scores well in several key accountability and finance metrics, reflecting a stable financial structure and strong governance practices. However, critical policies such as conflict of interest, whistleblower, and document retention are either missing or not publicly available, which raises concerns about their governance and operational transparency.
Furthermore, the absence of meeting minutes and the tax form on the nonprofit's website suggests a lack of accessibility to important information for stakeholders. Addressing these gaps could enhance the organization's trustworthiness and overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp legitimate?
The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp 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 The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp?
The Harvard Crimson Trust II, under the management of Peabody & Arnold LLP and represented by Philip Cronin, serves to provide a building and its land to The Harvard Crimson, Inc., a 501(c)(3) organization. This is done gratis, with an estimated annual rental value of $300,000 for 2021, and the responsibility of maintaining the building in good condition and fulfilling other obligations also falls under its purview. This venture aims to support the operations and objectives of The Harvard Crimson, Inc., contributing to its overall mission and activities.
Who is the CEO of The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp?
Philip Cronin is the Trustee of The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp.
What is the revenue of The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp?
The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp's revenue in 2021 was $573,635.
Who are the executives of The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp?
The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp
The Harvard Crimson Trust II, led by Philip Cronin and affiliated with Peabody & Arnold LLP, is committed to supporting the Harvard Crimson, Inc., a 501(c)(3) organization. This trust's mission is to provide the use of a building and land to the Harvard Crimson, Inc. without charging any rental fee. In 2021, the estimated value of this benefit was estimated to be $300,000. Furthermore, the trust is responsible for ensuring that the building remains in good condition and fulfilling other necessary obligations. By doing so, The Harvard Crimson Trust II aids in upholding the operations and functions of the Harvard Crimson, Inc., allowing it to continue its mission and activities.
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Impact
July, 2024
The Harvard Crimson Trust II, managed by Philip Cronin of Peabody & Arnold LLP, plays a crucial role in supporting the operations of The Harvard Crimson, Inc., a nonprofit organization. Specifically, the trust provides the use of a building and land to Harvard Crimson, Inc. rent-free. This support is estimated to have a significant value of $300,000 for the year 2021. By maintaining the building in good condition and meeting other obligations, the trust enables The Harvard Crimson to focus on its mission of providing quality journalism and educational opportunities to its community.
This information is meant to be a general summary of The Harvard Crimson Trust Ii C/O Philip Cronin Peabody & Arnold Llp. 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: $533,584
- Gross Receipts: $650,008
Assets and Liabilities:
- Total Assets: $8,936,058
- Total Liabilities: $131,597
- Net Assets: $8,804,461
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Organization Details
Founding Year
1986
Phone
(617) 951-2000Principal Officer
Philip Cronin
Main Address
FED RESERVE PLAZA 600 ATLANTIC AVE, BOSTON, MA, 02110
NTEE Category
Code: Y11 - Mutual benefit
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