Overview
What is New Life Charitable Foundation Inc?
New Life Charitable Foundation Inc is a nonprofit organization situated in Bellefontaine, Ohio. Established to promote long-term giving, the foundation acts as a separate entity from the First Lutheran Church. Its purpose is to accumulate funds, which generate earnings used to support initiatives and operations that are associated with the church but not directly tied to its budget. Examples of their contributions include funding for organ and piano tuning, Church improvements, and supporting missions backed by the First Lutheran Church. The principal funds are preserved, ensuring the foundation's longevity and continued service to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement)
New Life Charitable Foundation Inc has a rating of 73%, reflecting a need for improvement in certain accountability and transparency measures. The organization demonstrates strengths in governance with a fully independent board and excellent scores for managing liabilities and program expenses. However, the absence of critical policies, such as a conflict of interest policy and a whistleblower policy, raises concerns about the governance practices and overall accountability.
While the foundation's program expense ratio of over 70% indicates a commitment to its charitable mission, the missing documentation and policies suggest areas where improvement is necessary. The organization received full points for several governance metrics, which highlights its commitment to accountability in certain respects. However, the lack of transparency regarding board oversight and operational policies could undermine donor confidence.
Overall, while New Life Charitable Foundation Inc shows promise in its operational efficiency and governance structure, significant gaps in key policies and publicly available documentation necessitate a reassessment for those considering support. The organization is encouraged to address these limitations to enhance its credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is New Life Charitable Foundation Inc legitimate?
New Life Charitable Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Life Charitable 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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Other Salaries and Wages: $0
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What is the mission statement of New Life Charitable Foundation Inc?
The New Life Charitable Foundation Inc was established with a mission to serve as a separate entity from the First Lutheran Church, primarily aimed at encouraging long-term giving. The organization's purpose is to hold contributions for an extended period and utilize the earnings to support services and operations adjacent to the church, but not directly associated with it. The principal funds are not intended for expenditure. The foundation's grants have been utilized for various projects, such as enhancing the church's organ and piano, improving facilities like new carpet and microphones, and upgrading the bell tower. Additionally, the foundation has granted funds to missions supported by the First Lutheran Church, yet not contributing to the church's operational budget.
Who is the CEO of New Life Charitable Foundation Inc?
Beth Harman is the President of New Life Charitable Foundation Inc.
What is the revenue of New Life Charitable Foundation Inc?
New Life Charitable Foundation Inc's revenue in 2022 was $41,045.
Who are the executives of New Life Charitable Foundation Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for New Life Charitable Foundation Inc?
New Life Charitable Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Life Charitable Foundation Inc
New Life Charitable Foundation, established with a separate entity from the First Lutheran Church, serves as a platform to encourage long-term giving. Its primary mission is to hold contributions indefinitely, allowing individuals who wish to donate in this manner to do so. The earnings derived from these funds are then utilized to support services and operations that fall within the church's vicinity but are not directly part of its budget. The foundation's grants have been instrumental in funding various projects, such as the tuning of the organ and piano, improvements to the church, like new carpet and microphones, and upgrades to the Church Bell Tower. Furthermore, the foundation has also supported missions that are aligned with the First Lutheran Church, though it does not contribute to the church's operating budget.
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Impact
August, 2024
New Life Charitable Foundation Inc's impact lies in promoting long-term giving and providing funds for services to areas and operations surrounding the First Lutheran Church in Bellefontaine, OH. The grants they provide help fund ministries, improve church facilities, and support missions without directly impacting the church's operating budget. By encouraging giving through their separate entity, New Life Charitable Foundation facilitates ongoing support for the church and its surrounding community.
This information is meant to be a general summary of New Life Charitable 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 2022.
- Investment Income: $41,045
- Gross Receipts: $41,045
Assets and Liabilities:
- Total Assets: $1,233,470
- Total Liabilities: $0
- Net Assets: $1,233,470
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Organization Details
Founding Year
1970
Phone
(937) 592-7699Principal Officer
Beth Harman
Main Address
208 West Sandusky Avenue, Bellefontaine, OH, 43311
NTEE Category
Code: Z99 - Unknown
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