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Central Insurance Companies Educational And Charitable Foundation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 300108252 ✦ Van wert, OH ✦ Designated as a 501(c)(3)

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Overview

What is Central Insurance Companies Educational And Charitable Foundation?

The Central Insurance Companies Educational and Charitable Foundation is a nonprofit organization that prioritizes educational scholarships and charitable projects. It encourages contributions from individuals to fund community initiatives and lends support to local non-profit organizations and needy families within the community. Furthermore, the foundation awards educational scholarships to higher learning institutions, benefiting 19 high school graduates who intend to pursue undergraduate or postgraduate studies.


Official website here: www.cicef.org

What are the reviews and ratings of this charity?

Charity Navigator Rating: 77% (Three-Star out of Four Stars)

The Central Insurance Companies Educational And Charitable Foundation has earned a Three-Star rating from Charity Navigator, reflecting a solid score of 77%. This rating is derived solely from the Accountability & Finance beacon, indicating a strong focus on fiscal responsibility and transparency in its operations.

One of the foundation's notable strengths is its high Program Expense Ratio of 99.46%, which suggests that nearly all of its funds are directed towards its charitable programs. Additionally, the organization has no reported material diversion of assets, and it maintains several important policies, including conflict of interest and whistleblower policies, which contribute to its accountability.

However, the foundation does exhibit some weaknesses, primarily in governance, with 0% of its board members being independent. This could raise concerns about potential conflicts of interest and the overall effectiveness of board oversight. While the foundation demonstrates a strong commitment to financial management, improving its governance structure could enhance its credibility and public trust.


This AI summary has been generated from information found on Charity Navigator.

Is Central Insurance Companies Educational And Charitable Foundation legitimate?

Central Insurance Companies Educational And Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Central Insurance Companies Educational And Charitable 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.cicef.org

What is the mission statement of Central Insurance Companies Educational And Charitable Foundation?

The Central Insurance Companies Educational and Charitable Foundation's mission is centered around providing educational opportunities and supporting charitable projects. The foundation collects donations from individuals to fund community initiatives, distributing the funds to local non-profit organizations and assisting financially struggling families within the community. Furthermore, the foundation awards educational scholarships to institutions of higher learning for 19 deserving high school graduates who are planning to pursue their education at a two or four-year college.


Official website here: www.cicef.org

Who is the CEO of Central Insurance Companies Educational And Charitable Foundation?

Amy Dougal is the President of Central Insurance Companies Educational And Charitable Foundation.


Official website here: www.cicef.org

What is the revenue of Central Insurance Companies Educational And Charitable Foundation?

Central Insurance Companies Educational And Charitable Foundation's revenue in 2022 was $35,288.


Official website here: www.cicef.org

Who are the executives of Central Insurance Companies Educational And Charitable Foundation and what are their salaries?

There 12 volunteers at Central Insurance Companies Educational And Charitable Foundation.


Here are 3 key members and their salaries:


Fw Purmort Iii (President)
  • Compensation: $0
  • Related: $1,074,450
  • Other: $0
Evan Purmort (Director)
  • Compensation: $0
  • Related: $1,459,727
  • Other: $11,750
John White (Secretarty)
  • Compensation: $0
  • Related: $43,077
  • Other: $0


Official website here: www.cicef.org

Where can I find the form 990 for Central Insurance Companies Educational And Charitable Foundation?

Central Insurance Companies Educational And Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.cicef.org

Learn more at the official website: www.cicef.org

Mission Statement of Central Insurance Companies Educational And Charitable Foundation

Central Insurance Companies Educational and Charitable Foundation is dedicated to fulfilling its mission by providing educational scholarships and supporting charitable projects. The organization solicits contributions from individuals to aid in funding community initiatives. These funds are then distributed to local non-profit organizations and families in need within the community. Furthermore, the foundation plays a significant role in supporting the educational aspirations of 19 high school graduates by offering educational scholarships to institutions of higher learning. This allows these students to pursue their studies at two or four-year colleges.

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Impact




August, 2024

The Central Insurance Companies Educational And Charitable Foundation has a significant impact on the community through its provision of educational scholarships and support for charitable projects. By soliciting contributions from individuals, the foundation is able to distribute funds to local non-profit organizations and indigent families in the community, making a direct and tangible difference in the lives of those in need. Additionally, its distribution of educational scholarships to high school graduates planning to attend college demonstrates a commitment to fostering education and supporting the academic pursuits of young individuals. Overall, the foundation's work has a positive and lasting impact on the community, contributing to educational advancement and charitable initiatives.




This information is meant to be a general summary of Central Insurance Companies Educational And Charitable 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.

Revenue
$35,288 (2022)
Expenses
$190,330 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $30,297
  • Gross Receipts: $35,288

Assets and Liabilities:

  • Total Assets: $1,360,112
  • Total Liabilities: $0
  • Net Assets: $1,360,112

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Organization Details

Founding Year

2002

Principal Officer

Amy Dougal

Main Address

800 S WASHINGTON ST, VAN WERT, OH, 45891

NTEE Category

Code: B82 - Education

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