Overview
What is Community Asset Foundation?
Community Asset Foundation is a nonprofit organization situated in Chaska, Minnesota. Its primary mission is to construct, finance, and lease facilities to various community entities, including nonprofits, government entities, and for-profit entities, under the condition that these entities agree to operate for the benefit of the community. The organization focuses on developing, constructing, and renovating community assets in collaboration with these operating entities. By doing so, Community Asset Foundation aims to contribute positively to the community's infrastructure and development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating
The Community Asset Foundation has received a Two-Star rating from Charity Navigator, indicating some challenges in overall financial health despite solid governance. The organization boasts a fully independent board and achieves high scores in areas such as audit oversight and program expense ratios, demonstrating a strong commitment to effective financial management and transparency in its operations.
However, the rating is notably impacted by the organization's liabilities to assets ratio, which stands at 124.63%. This suggests that the foundation may face financial stability issues, as liabilities exceed assets, potentially affecting its long-term sustainability and ability to fulfill its mission. While the foundation excels in many governance metrics, it is essential to acknowledge this significant financial challenge that could affect its operational capacity.
This AI summary has been generated from information found on Charity Navigator.
Is Community Asset Foundation legitimate?
Community Asset Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Asset 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Community Asset Foundation?
The Community Asset Foundation's mission is centered around developing, constructing, and renovating community assets in collaboration with community operating entities. They achieve this by financing and constructing facilities using long-term government-guaranteed financing. Subsequently, these facilities are leased to non-profit organizations, government entities, or profit-driven entities, provided they commit to operating for the benefit of the community. This approach enables the foundation to contribute to the enhancement of community resources, fostering a sustainable and prosperous community environment.
What is the revenue of Community Asset Foundation?
Community Asset Foundation's revenue in 2024 was $6,717,918.
Who are the executives of Community Asset Foundation and what are their salaries?
There 6 volunteers at Community Asset Foundation.
Here are 6 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Community Asset Foundation?
Community Asset Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Community Asset Foundation
The Community Asset Foundation, as its name suggests, is committed to a mission of developing, constructing, and renovating community assets in partnership with various operating entities. This mission is carried out by constructing and financing facilities through long-term government-guaranteed financing, and then leasing these facilities to non-profit organizations, government entities, or for-profit entities that agree to operate for the benefit of the community. By doing so, the Community Asset Foundation plays a crucial role in ensuring that essential community assets are available and well-maintained, benefitting a wide range of individuals and organizations within the community.
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Impact
October, 2024
Community Asset Foundation significantly enhances community infrastructure through the development, construction, and renovation of vital assets. By partnering with local entities, it constructs and finances facilities using long-term government guaranteed financing. These facilities are then leased to non-profits, government entities, or for-profit businesses committed to serving the community's needs. This approach not only bolsters local services but also fosters sustainable growth and development in areas like housing, ensuring that resources are aligned with community benefit. The impact is felt in improved access to essential services, enhanced living conditions, and strengthened community ties in Chaska, MN, and beyond.
This information is meant to be a general summary of Community Asset 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 2024.
- Program Service Revenue: $4,924,217
- Gross Receipts: $6,717,918
Assets and Liabilities:
- Total Assets: $13,869,790
- Total Liabilities: $16,489,112
- Net Assets: -$2,619,322
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROOM CHARGES
Revenue
$4,924,217
Organization Details
Founding Year
2012
Principal Officer
Dave Pokorney
NTEE Category
Code: L20 - Housing
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