Covington Business Council Foundation

Charity Navigator Rating: Needs Improvement

The Covington Business Council Foundation has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 73%. While the organization demonstrates strong governance with a fully independent board and a perfect program expense ratio, it lacks several key accountability policies, which may raise concerns among potential donors and stakeholders.

Notably, the foundation excels in maintaining financial health, with no liabilities reported and responsible management of its assets. However, significant gaps such as the absence of a conflict of interest policy, whistleblower policy, and proper documentation for retention and destruction highlight areas that require urgent attention. These deficiencies suggest a need for improved transparency and adherence to best practices in nonprofit governance.

Overall, while the Covington Business Council Foundation shows a solid foundation in terms of financial management and board independence, its rating indicates that improvements in policy implementation and transparency are necessary to enhance donor confidence and fulfill its mission effectively.

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

Covington Business Council Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covington Business Council Foundation submitted a form 990EZ, 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.