Overview
What is W W Caruth Jr Foundation?
The W W Caruth Jr Foundation is a charitable trust based in Dallas, Texas. It functions as a supporting organization of Communities Foundation of Texas (CFT), directing funds towards education, public safety, and scientific research. The foundation's mission is to address intricate community issues in these areas by collaborating with nonprofits under CFT's management. The board of trustees at CFT oversees the distribution of the funds granted by the W W Caruth Jr Foundation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The W W Caruth Jr Foundation has received a Two-Star out of Four Star rating from Charity Navigator, indicating areas of concern in its governance and accountability practices. With a score of 67%, the foundation demonstrates strong program expense ratios, allocating nearly 95% of its funds to programs. However, the lack of independent board members and missing key policies such as conflict of interest and whistleblower protections raise significant red flags regarding its transparency and governance.
While the foundation shows strength in its financial oversight, evidenced by a complete score for its audit and oversight committee, its overall accountability is hampered by several missing elements. The absence of a publicly listed website on tax forms and critical policies detracts from its credibility. Despite these issues, the foundation has not reported any material diversion of assets, indicating that it is managing its resources responsibly.
In summary, the W W Caruth Jr Foundation exhibits effective program spending and financial management but must address its governance shortcomings and enhance transparency to improve its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is W W Caruth Jr Foundation legitimate?
W W Caruth Jr Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. W W Caruth Jr 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: $3,802,026
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of W W Caruth Jr Foundation?
The W W Caruth Jr Foundation functions as a grant-making organization under the umbrella of Communities Foundation of Texas. Its mission is to support causes in the areas of education, public safety, and scientific and medical research. The foundation's funds are directed by the Communities Foundation of Texas' board of trustees towards nonprofits that work to address complex community issues in these fields. The foundation achieves its mission by granting funds to the Communities Foundation of Texas, which then distributes the funds to eligible scientific and medical research, education, and public safety organizations. The foundation pays professional services fees to Communities Foundation of Texas for administrative and grant-making activities.
Who is the CEO of W W Caruth Jr Foundation?
Communities Fdn Of Texas is the Principal Officer of W W Caruth Jr Foundation.
What is the revenue of W W Caruth Jr Foundation?
W W Caruth Jr Foundation's revenue in 2022 was $32,925,098.
Who are the executives of W W Caruth Jr Foundation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $3,729,435
Where can I find the form 990 for W W Caruth Jr Foundation?
W W Caruth Jr Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of W W Caruth Jr Foundation
The W W Caruth Jr Foundation is a supporting organization of the Communities Foundation of Texas, with a mission to direct funding towards education, public safety, and scientific research. This trust, exclusively established for the Communities Foundation of Texas, allows its board of trustees to allocate funds received by the trust to eligible nonprofits in these fields. The W W Caruth Jr Foundation accomplishes its goal by making grants to the Communities Foundation of Texas, which then distributes the funds to qualified scientific and medical research, education, and public safety organizations. The Communities Foundation of Texas collects professional services fees for its administrative and grant-making activities.
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Impact
October, 2024
The W W Caruth Jr Foundation significantly impacts the Dallas community by directing funding toward education, public safety, and scientific research. By making grants to the Communities Foundation of Texas (CFT), it supports qualified initiatives that address complex issues in these vital sectors. This approach allows for targeted investment in educational programs that enhance learning opportunities, public safety initiatives that improve community security, and scientific and medical research that contributes to health advancements.
Through partnering with CFT, the foundation efficiently channels resources to organizations that can implement solutions effectively, addressing pressing needs and fostering progress. This strategic focus not only amplifies the impact of financial contributions but also enables a collaborative effort toward improving community well-being. As a result, the foundation plays a crucial role in shaping a safer, more educated, and healthier environment in Dallas and beyond.
This information is meant to be a general summary of W W Caruth Jr 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: $31,583,932
- Gross Receipts: $80,026,250
Assets and Liabilities:
- Total Assets: $444,705,321
- Total Liabilities: $21,394,048
- Net Assets: $423,311,273
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Organization Details
Founding Year
1975
Phone
(214) 750-4222Principal Officer
Communities Fdn Of Texas
Main Address
5500 CARUTH HAVEN LANE, DALLAS, TX, 75225
NTEE Category
Code: T30 - Philanthropy
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