Overview
What is Townsend Public Library Endowment Inc?
Townsend Public Library Endowment Inc is a nonprofit organization situated at 12 Dudley Rd, Townsend, Massachusetts 01469. Its primary mission is to manage an endowment fund, which supports various programs and activities aimed at enhancing the services provided by the Townsend Public Library. This includes offering a broad spectrum of informational, educational, and cultural services to the community. Additionally, the nonprofit raises funds to purchase and donate resources deemed beneficial for the library's growth and development, thereby contributing to a more enriching library experience for its patrons.
Official website here: www.townsendendowment.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 49% (Zero-Star out of Four Star rating)
The Townsend Public Library Endowment Inc has received a low score of 49%, which indicates significant concerns regarding its accountability and financial practices. The organization has not appointed any independent board members, which raises questions about governance and oversight. Although it has demonstrated some positive aspects, such as a lack of material diversion of assets and a published conflict of interest policy, many critical policies are either missing or inadequately addressed.
One notable strength is the organization’s liabilities to assets ratio, which stands at a commendable 0.00%. This suggests that the nonprofit is not currently facing any debt obligations, which is a positive indicator for financial health. However, the low program expense ratio of 58.60% raises concerns about the proportion of funds being allocated towards its intended programs versus administrative costs.
The absence of a whistleblower policy and a document retention and destruction policy further detracts from the organization's accountability measures. Additionally, the failure to post the most recent tax form on its website diminishes transparency. Overall, while there are some positive aspects to note, major shortcomings in governance and policy adherence have contributed to its low rating.
This AI summary has been generated from information found on Charity Navigator.
Is Townsend Public Library Endowment Inc legitimate?
Townsend Public Library Endowment Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Townsend Public Library Endowment 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.
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.townsendendowment.org
What is the mission statement of Townsend Public Library Endowment Inc?
The Townsend Public Library Endowment Inc's mission is centered around managing an endowment fund. This fund is utilized to support various programs and activities at the Townsend Public Library, aiming to provide a broad spectrum of information, educational, and cultural services to the library community. The organization also aims to raise funds for purchasing and donating items to the library that can further enhance its activities. In essence, the Endowment Inc's mission is to expand the library's offerings and resources to benefit the widest possible range of individuals and groups in the library community.
Official website here: www.townsendendowment.org
Who is the CEO of Townsend Public Library Endowment Inc?
Robert Templeton is the President of Townsend Public Library Endowment Inc.
Official website here: www.townsendendowment.org
What is the revenue of Townsend Public Library Endowment Inc?
Townsend Public Library Endowment Inc's revenue in 2022 was $50,177.
Official website here: www.townsendendowment.org
Who are the executives of Townsend Public Library Endowment Inc and what are their salaries?
There 30 volunteers at Townsend Public Library Endowment Inc.
Here are 7 key members and their salaries:
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Official website here: www.townsendendowment.org
Where can I find the form 990 for Townsend Public Library Endowment Inc?
Townsend Public Library Endowment Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.townsendendowment.org
Learn more at the official website: www.townsendendowment.org
Mission Statement of Townsend Public Library Endowment Inc
Townsend Public Library Endowment Inc is dedicated to managing an endowment fund with the primary goal of supporting programs and activities at the Townsend Public Library. This nonprofit organization aims to extend the library's reach by providing a diverse range of information, educational, and cultural services to the community. By managing this fund, Townsend Public Library Endowment Inc seeks to raise funds for purchasing and donating resources that will further enhance the library's activities. In essence, the mission of this nonprofit is to contribute financially to the Townsend Public Library, enabling it to offer the best possible services to its patrons.
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Impact
August, 2024
Townsend Public Library Endowment Inc's impact is significant in supporting the programs and activities of the Townsend Public Library. By managing an Endowment Fund, the organization helps to provide a wide range of information, educational, and cultural services to individuals and groups in the library community. Additionally, the organization raises funds to purchase and donate items deemed necessary for the advancement of the Library's activities. Through its philanthropic efforts, Townsend Public Library Endowment Inc plays a crucial role in enhancing the resources and offerings of the Townsend Public Library for the benefit of its patrons.
This information is meant to be a general summary of Townsend Public Library Endowment 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: $36,940
- Gross Receipts: $50,177
Assets and Liabilities:
- Total Assets: $1,102,296
- Total Liabilities: $0
- Net Assets: $1,102,296
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Organization Details
Founding Year
2008
Phone
(978) 597-1714Principal Officer
Robert Templeton
Main Address
12 Dudley Rd, Townsend, MA, 01469
Website
www.townsendendowment.orgNTEE Category
Code: T990 - Philanthropy
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