Overview
What is Inland Empire Tobacco Securitization Corporation?
Inland Empire Tobacco Securitization Corporation is a nonprofit organization situated in Riverside, California, specifically at 4080 Lemon Street 4th Floor. Their primary role is to manage and distribute tobacco settlement proceeds on behalf of Riverside County and its residents. By facilitating the tobacco settlement funds, this organization plays a significant role in benefiting the local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 71%)
The Inland Empire Tobacco Securitization Corporation received a two-star rating from Charity Navigator, indicating that while it has strong accountability and finance practices, there are areas needing significant improvement. The organization scored 100% in areas such as having a majority independent board and maintaining a conflict of interest policy. Its program expense ratio is also commendable at 98.73%, suggesting a strong focus on programmatic expenditures.
However, the corporation faces challenges with its liabilities to assets ratio, which scored poorly (0 out of 15 points) at 86.54%. This raises concerns about financial stability. Moreover, the absence of a whistleblower policy and document retention and destruction policy suggests gaps in governance and transparency, with both policies receiving a score of 0 out of 4 points. Furthermore, the nonprofit has not posted its tax form on its website, which limits public access to essential financial information.
In summary, while the Inland Empire Tobacco Securitization Corporation demonstrates solid governance and financial management, it must address its financial ratios and improve transparency policies to enhance its overall rating and build trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Inland Empire Tobacco Securitization Corporation legitimate?
Inland Empire Tobacco Securitization Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Inland Empire Tobacco Securitization 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
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What is the mission statement of Inland Empire Tobacco Securitization Corporation?
The Inland Empire Tobacco Securitization Corporation serves the crucial role of managing tobacco settlement proceeds for the benefit of a county and its residents. This organization receives and distributes the tobacco settlement funds to facilitate various projects and initiatives within the community. By doing so, the Corporation plays a significant part in utilizing the proceeds to advance the well-being and development of the area. Through its mission, the Inland Empire Tobacco Securitization Corporation aims to ensure the effective allocation of these funds for the betterment of the county and its population.
Who is the CEO of Inland Empire Tobacco Securitization Corporation?
Jeff Van Wagenen is the Director of Inland Empire Tobacco Securitization Corporation.
What is the revenue of Inland Empire Tobacco Securitization Corporation?
Inland Empire Tobacco Securitization Corporation's revenue in 2022 was $14,504,079.
Who are the executives of Inland Empire Tobacco Securitization Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Inland Empire Tobacco Securitization Corporation?
Inland Empire Tobacco Securitization Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Inland Empire Tobacco Securitization Corporation
Inland Empire Tobacco Securitization Corporation, or IETSC, plays a vital role in facilitating the distribution of tobacco settlement proceeds for the benefit of Riverside County and its residents. Established with a clear mission, IETSC works tirelessly to manage these funds, ensuring they reach their intended recipients.
The organization's primary function involves receiving tobacco settlement proceeds and overseeing their distribution. This dedicated work enables the county and its population to reap the rewards from the tobacco settlement. By managing these funds, IETSC contributes significantly to improving the lives of Riverside County residents.
Inland Empire Tobacco Securitization Corporation's mission is twofold. First, it guarantees the county receives its rightful share of the tobacco settlement proceeds. Second, it ensures these funds are used to better the community. Through its mission, IETSC acts as a crucial intermediary, ensuring the tobacco settlement monies are distributed effectively and efficiently, ultimately benefiting the residents of Riverside County.
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Impact
October, 2024
The Inland Empire Tobacco Securitization Corporation plays a crucial role in managing and distributing tobacco settlement proceeds for the County of Riverside, California. By facilitating these funds, the organization directly benefits the county and its residents by allocating resources derived from the national tobacco settlement. This financial support can reinforce public health programs, community services, and various initiatives aimed at improving the overall well-being of the population.
Through its activities, the Corporation ensures that the financial gains from the tobacco settlement are effectively utilized to address local needs and challenges. This not only enhances the quality of life for residents but also contributes to broader public health goals by potentially funding anti-smoking campaigns, health education, and other community enhancement projects. The impact of the Inland Empire Tobacco Securitization Corporation thus extends to fostering a healthier and more informed community in Riverside County.
This information is meant to be a general summary of Inland Empire Tobacco Securitization 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: $38,882
- Program Service Revenue: $14,465,197
- Gross Receipts: $14,504,079
Assets and Liabilities:
- Total Assets: $252,558,043
- Total Liabilities: $221,820,852
- Net Assets: $30,737,191
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TOBACCO SETTLEMENT PROCEE
Revenue
$14,465,197
Organization Details
Founding Year
2007
Phone
(951) 955-1000Principal Officer
Jeff Van Wagenen
Main Address
4080 Lemon Street 4th Floor, Riverside, CA, 92501
NTEE Category
Code: W990 - Public benefit
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