Overview
What is Watertown Community Foundation Inc?
Watertown Community Foundation Inc is a nonprofit organization established in 2003, with a primary mission to support educational and other non-profit organizations in Watertown, Massachusetts. Their purpose extends beyond financial aid, aiming to foster a close-knit community by fostering connections, respect, and mutual support among its diverse residents. By offering philanthropic support for the current and future needs of the community, the Foundation plays a significant role in enriching the lives of Watertown's inhabitants. With a small team of one dedicated individual, the Foundation represents a commitment to enhancing the social fabric of Watertown.
Official website here: www.watertownfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%
The Watertown Community Foundation Inc has achieved a Four-Star out of Four Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a score of 92%, it demonstrates a commitment to financial transparency and responsible management of resources. The overall score is derived entirely from its accountability and finance metrics, indicating a focus on these critical areas.
The foundation excels in several aspects, including having a fully independent board and no material diversions of assets. Additionally, it maintains a solid program expense ratio of 84.31%, suggesting that a significant portion of its funding goes directly to its programs and initiatives. The presence of board meeting minutes and the posting of tax forms on its website further enhance its transparency.
However, there are some limitations noted in the evaluation, particularly the absence of a whistleblower policy and a document retention and destruction policy, which could indicate areas for improvement in governance practices. Overall, the Watertown Community Foundation Inc demonstrates a strong commitment to accountability, although it could benefit from addressing its governance policies.
This AI summary has been generated from information found on Charity Navigator.
Is Watertown Community Foundation Inc legitimate?
Watertown Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watertown Community Foundation 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: $90,363
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.watertownfoundation.org
What is the mission statement of Watertown Community Foundation Inc?
The Watertown Community Foundation Inc's mission is centered around promoting a cohesive community. It strives to foster connections, respect, and mutual support among its diverse residents. The foundation provides philanthropic support to meet both current and future needs within the community. Established in December 2003, the foundation has been organized to support educational and various non-profit organizations in its operations. It aims to strengthen the community by providing financial assistance for its betterment.
Official website here: www.watertownfoundation.org
Who is the CEO of Watertown Community Foundation Inc?
Lauren Coughlin Unsworth is the President of Watertown Community Foundation Inc.
Official website here: www.watertownfoundation.org
What is the revenue of Watertown Community Foundation Inc?
Watertown Community Foundation Inc's revenue in 2022 was $682,820.
Official website here: www.watertownfoundation.org
Who are the executives of Watertown Community Foundation Inc and what are their salaries?
The average compensation at Watertown Community Foundation Inc during 2022 was $90,363. There is 1 employee and 250 volunteers at Watertown Community Foundation Inc.
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Official website here: www.watertownfoundation.org
Where can I find the form 990 for Watertown Community Foundation Inc?
Watertown Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.watertownfoundation.org
Learn more at the official website: www.watertownfoundation.org
Mission Statement of Watertown Community Foundation Inc
Watertown Community Foundation Inc, established in 2003, is dedicated to fostering a cohesive and supportive community among its diverse residents. Their mission is to provide philanthropic support for the current and future needs of this community. The foundation focuses on backing educational and other non-profit organizations, aiming to strengthen the bonds within Watertown and promote mutual respect among its residents. By supporting these organizations, Watertown Community Foundation Inc contributes to the overall well-being and development of the community, ultimately helping it thrive.
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Impact
July, 2024
Watertown Community Foundation Inc promotes a strong, close-knit community in Watertown by fostering connections, respect, and mutual support among its diverse residents. The foundation provides philanthropic support for the current and future needs of the community, focusing on educational activities and supporting other non-profit organizations in the town. Since its establishment in 2003, the foundation has played a crucial role in enhancing the quality of life for residents of Watertown, Massachusetts, through its dedication to philanthropy and community building.
This information is meant to be a general summary of Watertown Community Foundation 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: $63,170
- Gross Receipts: $764,832
Assets and Liabilities:
- Total Assets: $2,214,408
- Total Liabilities: $169,973
- Net Assets: $2,044,435
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Organization Details
Founding Year
2003
Phone
(617) 926-1500Principal Officer
Lauren Coughlin Unsworth
Main Address
PO BOX 334, WATERTOWN, MA, 02471
Website
www.watertownfoundation.orgNTEE Category
Code: T31 - Philanthropy
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