Overview
What is Madison Rotary Club Foundation Inc?
Madison Rotary Club Foundation Inc is a community-focused nonprofit organization based in Madison, New Jersey. Established in PO Box 211, the Foundation primarily functions as a grant-giving entity, distributing funds to around 40 local organizations and contributing to The Rotary Foundation to support Rotary initiatives worldwide. Their charitable activities primarily focus on combating food insecurity, fostering educational programs, and aiding community organizations. In addition, the Foundation organizes weekly meetings and participates in community-building events, engaging both its members and the public.
Official website here: www.madisonrotarynj.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star rating)
The Madison Rotary Club Foundation Inc has achieved a score of 76%, reflecting a solid performance in its operations and financial management. The organization boasts a fully independent board, with 100% of its board members meeting independence criteria. Additionally, it has no material diversion of assets and shows a strong program expense ratio of 90.81%, indicating a commitment to directing funds towards its programs.
While the organization demonstrates strengths in governance and financial health, it does have notable limitations. There are missing policies for conflict of interest, whistleblower protection, and document retention, which could affect accountability and transparency. Furthermore, while it maintains comprehensive board meeting minutes, the absence of these essential policies may raise concerns for potential donors and stakeholders regarding governance practices.
Overall, the Madison Rotary Club Foundation Inc showcases a commitment to its mission and prudent financial practices, but it is encouraged to enhance its governance framework by implementing the missing policies to strengthen its accountability and trustworthiness further.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Rotary Club Foundation Inc legitimate?
Madison Rotary Club Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Rotary Club 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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For more financial information, click here
Official website here: www.madisonrotarynj.org
What is the mission statement of Madison Rotary Club Foundation Inc?
The Madison Rotary Club Foundation Inc. is a community-focused organization with a mission to raise funds and contribute to three key areas: combating food insecurity, supporting educational programs, and funding local community organizations. In addition to its charitable endeavors, the Foundation also hosts weekly meetings and periodic community-building events, inviting both its members and the public to participate. The Foundation further supports Rotary causes globally by making contributions to The Rotary Foundation.
Official website here: www.madisonrotarynj.org
Who is the CEO of Madison Rotary Club Foundation Inc?
James Foster is the President of Madison Rotary Club Foundation Inc.
Official website here: www.madisonrotarynj.org
What is the revenue of Madison Rotary Club Foundation Inc?
Madison Rotary Club Foundation Inc's revenue in 2023 was $167,171.
Official website here: www.madisonrotarynj.org
Who are the executives of Madison Rotary Club Foundation Inc and what are their salaries?
There 80 volunteers at Madison Rotary Club Foundation Inc.
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Official website here: www.madisonrotarynj.org
Where can I find the form 990 for Madison Rotary Club Foundation Inc?
Madison Rotary Club Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.madisonrotarynj.org
Learn more at the official website: www.madisonrotarynj.org
Mission Statement of Madison Rotary Club Foundation Inc
Madison Rotary Club Foundation Inc is dedicated to serving its community through three primary charitable activities. This nonprofit organization raises funds to combat food insecurity, supports educational programs, and finances various community organizations. In addition to its fundraising efforts, the Foundation hosts weekly meetings and periodic community-building events, providing a platform for both members and the public to engage and connect. By extending its reach to approximately 40 local organizations and making contributions to The Rotary Foundation, Madison Rotary Club Foundation Inc plays a significant role in advancing Rotary causes.
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Impact
October, 2024
Madison Rotary Club Foundation Inc has a significant impact on the community of Madison, NJ, by actively addressing issues like food insecurity and enhancing educational opportunities. Through a range of initiatives, the organization supports local community groups, ensuring that those in need have access to essential resources.
The Foundation organizes events that foster community engagement and collaboration, creating a sense of belonging among residents. By offering scholarships, it invests in the future of local students, empowering them to pursue their educational goals. Additionally, the Foundation mentors high school service groups, instilling in young individuals a sense of responsibility and leadership while encouraging them to give back to their community.
Overall, Madison Rotary Club Foundation Inc plays a crucial role in strengthening the community, uplifting those in need, and fostering a culture of service and philanthropy.
This information is meant to be a general summary of Madison Rotary Club 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 2023.
- Program Service Revenue: $106,409
- Gross Receipts: $202,861
Assets and Liabilities:
- Total Assets: $56,407
- Total Liabilities: $0
- Net Assets: $56,407
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Grants to Organizations
Revenue
$9,993
Weekly programs and service activities
Revenue
$18,404
Food Insecurity
Revenue
$7,586
Youth and education
Revenue
$1,441
Activities to advance and fund our mission
Revenue
$68,985
Organization Details
Founding Year
1994
Phone
(973) 615-7066Principal Officer
James Foster
Main Address
PO Box 211, Madison, NJ, 07940
Website
www.madisonrotarynj.orgNTEE Category
Code: B82I - Education
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