Overview
What is Olde Dominion Agricultural Foundation?
The Olde Dominion Agricultural Foundation, located in Chatham, Virginia, is a nonprofit organization with a mission to foster and support regional agriculture. They accomplish this by offering a community-based venue for educational forums and entertainment, serving as a platform for discussing best agricultural practices and production opportunities. The foundation promotes collaboration between agriculture, businesses, and communities, aiming to cultivate the next generation of producers through education and market opportunities. As part of its activities, Olde Dominion Agricultural Foundation provides reduced rental fees for agricultural-related events in its conference center and arena, contributing a significant value of $14,150 in rental fees in 2022. With a team of 17 dedicated individuals, the foundation is committed to the growth and success of regional agriculture in Southside Virginia.
Official website here: www.theodac.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement) - Score: 73%
The Olde Dominion Agricultural Foundation has received a two-star rating from Charity Navigator, indicating that the organization needs improvement in certain areas. With an overall score of 73%, the foundation demonstrates strengths in board independence, material asset management, and transparency regarding website listings and conflict of interest policies. Notably, all board members are independent, which reflects well on governance practices.
Despite these positive aspects, the foundation is marked down for lacking critical policies such as a whistleblower policy and a document retention and destruction policy. These deficiencies can hinder accountability and transparency, which are essential for maintaining donor trust and ensuring proper governance. Additionally, while the program expense ratio is commendable at 81.09%, the absence of certain policies highlights areas that require attention to enhance overall effectiveness.
In summary, while the Olde Dominion Agricultural Foundation exhibits solid financial management and board independence, improvements are necessary in governance policies to achieve a higher rating. Addressing these limitations could significantly bolster the organization’s credibility and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Olde Dominion Agricultural Foundation legitimate?
Olde Dominion Agricultural Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Olde Dominion Agricultural 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: $108,481
Professional Fundraising Fees: $0
Other Salaries and Wages: $216,246
For more financial information, click here
Official website here: www.theodac.com
What is the mission statement of Olde Dominion Agricultural Foundation?
The Olde Dominion Agricultural Foundation's mission is centered around promoting and supporting regional agriculture while providing a community-based platform for education and entertainment. By doing so, the organization aims to foster a deeper understanding of the significance of agriculture, both locally and internationally. The foundation hosts educational forums for regional groups to discuss best practices and production opportunities in agriculture. Furthermore, it is committed to nurturing the next generation of producers through educational initiatives and market opportunities.
Official website here: www.theodac.com
What is the revenue of Olde Dominion Agricultural Foundation?
Olde Dominion Agricultural Foundation's revenue in 2023 was $752,784.
Official website here: www.theodac.com
Who are the executives of Olde Dominion Agricultural Foundation and what are their salaries?
The average compensation at Olde Dominion Agricultural Foundation during 2023 was $24,979. There are 13 employees at Olde Dominion Agricultural Foundation.
Here are 17 key members and their salaries:
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Official website here: www.theodac.com
Where can I find the form 990 for Olde Dominion Agricultural Foundation?
Olde Dominion Agricultural Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theodac.com
Learn more at the official website: www.theodac.com
Mission Statement of Olde Dominion Agricultural Foundation
The Olde Dominion Agricultural Foundation (ODAF) envisions a thriving Southside Virginia where agriculture, businesses, and communities collaborate, learn, and grow. To achieve this vision, the foundation's mission is twofold: firstly, to promote and support regional agriculture, and secondly, to provide a community-based venue for education and entertainment. This mission is fulfilled by offering a platform that fosters a deeper understanding of the significance of both regional and international agriculture. The foundation hosts various regional groups that organize educational forums to discuss agricultural best practices and production opportunities. Moreover, ODAF is committed to cultivating the next generation of farmers by providing them with educational opportunities and market possibilities. Through its initiatives, the Olde Dominion Agricultural Foundation aims to foster a vibrant and sustainable agricultural community in Virginia.
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Impact
October, 2024
The Olde Dominion Agricultural Foundation (ODAF) plays a crucial role in fostering a vibrant agricultural community in Southside Virginia. By providing a community-based venue, it promotes education, collaboration, and growth within the agricultural sector. ODAF offers free or reduced rental fees for agricultural organizations, which enables 28 events in 2022 alone, valuing over $14,000. This accessibility supports local groups in discussing agricultural best practices and exploring production opportunities, ensuring that knowledge and resources are shared widely.
Moreover, ODAF is dedicated to cultivating the next generation of agricultural producers. Through educational forums and community engagement, it helps instill a deeper understanding of both regional and international agriculture, equipping future leaders with the knowledge they need to thrive. Overall, ODAF is instrumental in creating a thriving ecosystem where agriculture, business, and communities can collaborate and grow together.
This information is meant to be a general summary of Olde Dominion Agricultural 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 2023.
- Investment Income: $32,332
- Gross Receipts: $816,023
Assets and Liabilities:
- Total Assets: $7,796,072
- Total Liabilities: $745,517
- Net Assets: $7,050,555
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Organization Details
Founding Year
2008
Principal Officer
Roger Jefferson
Website
www.theodac.comNTEE Category
Code: W99 - Public benefit
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