Overview
What is Life Ring Foundation?
The Life Ring Foundation is a charitable organization situated in Roanoke, Virginia. Established with the purpose of providing assistance in times of need, the foundation primarily supports individuals and tax-exempt organizations financially. They have contributed funds to various non-profits, helping them cover utility bills and rent expenses. Additionally, the Life Ring Foundation has made general donations to other prominent charitable organizations such as Children's Miracle Network, Appalachian South Folklife Center, Cincinnati Children's Hospital, and Virginia Tech Foundation to further their noble causes. Furthermore, the foundation also offers scholarships to individuals seeking education at Virginia Tech.
Official website here: www.liferingfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (53%)
The Life Ring Foundation has received a low rating of 53%, resulting in a One-Star out of Four Stars designation. This rating primarily reflects concerns related to accountability and financial practices, which are the exclusive basis for the overall score. The lack of majority independent board members and absence of critical governance policies raise questions about the organization’s operational transparency.
Strengths noted include a perfect score for the material diversion of assets and favorable ratios regarding liabilities to assets and program expenses. These factors suggest that while the organization may manage its resources effectively, there are significant shortcomings in governance and policy implementation that could impact credibility and trust.
Critically, the absence of policies related to conflict of interest, whistleblower protections, and document management indicates potential risks in organizational oversight. Without improvements in these areas, the Life Ring Foundation may struggle to enhance its accountability and, consequently, its overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Life Ring Foundation legitimate?
Life Ring Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Life Ring 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
Official website here: www.liferingfoundation.org
What is the mission statement of Life Ring Foundation?
The Life Ring Foundation was established with a mission to offer charitable and emergency assistance to individuals and tax-exempt organizations. In addition to this, the foundation funds scholarships for individuals to attend Virginia Tech. The foundation's charitable activities extend beyond direct assistance, as it also provides financial aid to other non-profit organizations. These organizations utilize the funds to cover utility bills and rent, thus aiding individuals in need. Furthermore, the Life Ring Foundation makes general donations to various non-profits such as Children's Miracle Network, Appalachian South Folklife Center, Cincinnati Children's Hospital, and the Virginia Tech Foundation, to support their ongoing charitable works.
Official website here: www.liferingfoundation.org
Who is the CEO of Life Ring Foundation?
Kelly S Woolwine is the President of Life Ring Foundation.
Official website here: www.liferingfoundation.org
What is the revenue of Life Ring Foundation?
Life Ring Foundation's revenue in 2022 was $101,106.
Official website here: www.liferingfoundation.org
Who are the executives of Life Ring Foundation and what are their salaries?
There 2 volunteers at Life Ring Foundation.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.liferingfoundation.org
Where can I find the form 990 for Life Ring Foundation?
Life Ring Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.liferingfoundation.org
Learn more at the official website: www.liferingfoundation.org
Mission Statement of Life Ring Foundation
The Life Ring Foundation, established with a charitable and emergency assistance mission, aims to provide aid to individuals and tax-exempt organizations in need. Beyond this, the foundation extends its philanthropic efforts by funding scholarships for individuals to attend Virginia Tech, thereby contributing to their educational growth and development. In practice, the Life Ring Foundation has demonstrated its commitment to its mission by offering financial assistance to other non-profit organizations, specifically those that aid individuals by covering utility bills and rent expenses. Additionally, the foundation has made general donations to various charitable entities such as Children's Miracle Network, Appalachian South Folklife Center, Cincinnati Children's Hospital, and Virginia Tech Foundation, ensuring their continued work in their respective fields.
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Impact
October, 2024
The Life Ring Foundation significantly impacts its community by providing vital charitable and emergency assistance to individuals and tax-exempt organizations. By funding other nonprofits, it enables essential services that help individuals facing financial hardships, ensuring their utility bills and rent are covered. This support extends to various organizations, including the Children’s Miracle Network, the Appalachian South Folklife Center, Cincinnati Children’s Hospital, and the Virginia Tech Foundation, bolstering their efforts to assist those in need.
In addition to immediate relief efforts, the foundation also contributes to educational opportunities by offering scholarships for individuals wishing to attend Virginia Tech. Through these multifaceted initiatives, the Life Ring Foundation fosters a spirit of philanthropy and community support, effectively enriching the lives of those it serves in Roanoke, Virginia, and beyond.
This information is meant to be a general summary of Life Ring 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 2022.
- Investment Income: $7,815
- Gross Receipts: $101,106
Assets and Liabilities:
- Total Assets: $216,961
- Total Liabilities: $0
- Net Assets: $216,961
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Organization Details
Founding Year
2009
Phone
(540) 904-1732Principal Officer
Kelly S Woolwine
Main Address
3846 ELECTRIC ROAD, ROANOKE, VA, 24018
Website
www.liferingfoundation.orgNTEE Category
Code: T20 - Philanthropy
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