Overview
What is Ymca Memorial Building Corporation?
Ymca Memorial Building Corporation is a nonprofit entity situated in Lima, Ohio, specifically at 345 S Elizabeth St. Its primary purpose is to acquire and maintain real property, which is then leased to its related 501(c)3 tax-exempt organization, the Young Men's Christian Association (YMCA) of Lima, Ohio. The leased property serves as the operational base for the Lima YMCA, providing facilities for their activities and programs. This corporation's mission aligns with supporting the mission and operations of the YMCA, contributing to the betterment of the community.
Official website here: www.limaymca.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The YMCA Memorial Building Corporation has received an 83% rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization boasts a commendable program expense ratio of 100.00%, suggesting that all of its expenses are directed towards programmatic activities, which is a significant strength for any nonprofit.
The board composition reflects a commitment to independence, with 83% of its members being independent. However, there are some areas that require attention, such as the absence of a whistleblower policy and guidelines for document retention and destruction, which could impact the organization's governance practices. Overall, while the YMCA Memorial Building Corporation demonstrates strong financial management, enhancing its governance policies could further strengthen its operations.
The organization has no reported material diversion of assets and maintains a favorable liabilities to assets ratio of 0.49%. This suggests a strong financial position, which is crucial for sustainability and ongoing operations. However, addressing the noted governance gaps could improve transparency and accountability within the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Ymca Memorial Building Corporation legitimate?
Ymca Memorial Building Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ymca Memorial Building Corporation 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
For more financial information, click here
Official website here: www.limaymca.net
What is the mission statement of Ymca Memorial Building Corporation?
The YMCA Memorial Building Corporation's primary mission is to acquire and hold real property, serving as a home for the operations of a related 501(c)3 tax-exempt organization, specifically the Young Men's Christian Association of Lima, Ohio. The corporation then leases this property to the YMCA organization, thereby facilitating its operations. This strategic move allows the YMCA to carry out its community-focused activities effectively.
Official website here: www.limaymca.net
Who is the CEO of Ymca Memorial Building Corporation?
Steve Romey is the Board Member of Ymca Memorial Building Corporation.
Official website here: www.limaymca.net
What is the revenue of Ymca Memorial Building Corporation?
Ymca Memorial Building Corporation's revenue in 2022 was $88.
Official website here: www.limaymca.net
Who are the executives of Ymca Memorial Building Corporation and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.limaymca.net
Where can I find the form 990 for Ymca Memorial Building Corporation?
Ymca Memorial Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.limaymca.net
Learn more at the official website: www.limaymca.net
Mission Statement of Ymca Memorial Building Corporation
The YMCA Memorial Building Corporation's mission is centered around acquiring and holding real property that serves as a home for the operations of a related 501(c)3 tax-exempt organization. This organization in question is the Young Men's Christian Association of Lima, Ohio. The YMCA Memorial Building Corporation leases this property to the YMCA, thereby enabling them to carry out their operations effectively. The real estate provided by the corporation plays a crucial role in housing the activities of the Lima YMCA, thereby contributing to its overall mission and operations.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Ymca Memorial Building Corporation plays a crucial role in supporting the operations of the Lima YMCA by acquiring and managing the real estate that houses its programs and services. By leasing this property to the Young Men's Christian Association of Lima, Ohio, it ensures that essential community health and wellness activities are available to the public. This arrangement facilitates the YMCA's ability to offer various fitness, educational, and social programs, contributing to the overall well-being of the Lima community. The Corporation’s focus on maintaining and leasing the facility fosters a stable environment where individuals and families can access resources that promote health and community engagement.
This information is meant to be a general summary of Ymca Memorial Building Corporation. 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: $87
- Program Service Revenue: $1
- Gross Receipts: $88
Assets and Liabilities:
- Total Assets: $5,876,979
- Total Liabilities: $29,168
- Net Assets: $5,847,811
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT FROM RELATED 501(C)3
Revenue
$1
Organization Details
Founding Year
1994
Phone
(419) 222-6056Principal Officer
Steve Romey
Main Address
345 S ELIZABETH ST, LIMA, OH, 45801
Website
www.limaymca.netNTEE Category
Code: E20I - Health
If you are a representative of Ymca Memorial Building Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.