Overview
What is Soumc Endowment Foundation?
The Soumc Endowment Foundation, situated in Sherman Oaks, California, serves as a vital supporter of the Sherman Oaks United Methodist Church (SOUMC). Their primary role involves contributing funds for building maintenance within SOUMC, which is overseen by the church's trustees. Beyond this, the foundation also extends its support to global missions affiliated with the United Methodist Church and local initiatives. This commitment to both local and global causes demonstrates the Soumc Endowment Foundation's dedication to fostering community and promoting the values of the United Methodist Church.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60% (Two-Star out of Four Star rating)
The Soumc Endowment Foundation has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and transparency. The charity scored particularly well in areas such as having a fully independent board, with all three members being independent, and showing no diversion of assets. Additionally, the foundation documents its board meeting minutes, which reflects a commitment to transparency.
Despite these strengths, the organization shows some areas for improvement, particularly in its Program Expense Ratio, which stands at 59.60%. This score is relatively low, suggesting that a smaller portion of its expenses are directed towards program services compared to administrative costs. The overall Accountability & Finance score of 60 highlights that while the foundation performs well in governance, there are significant opportunities for enhancing its operational efficiency and effectiveness in delivering its mission.
The foundation's liabilities to assets ratio is commendably low at 0.20%, indicating good financial health. However, given the overall Two-Star rating, potential donors and stakeholders may want to consider these factors carefully when evaluating the organization's impact and financial management practices.
This AI summary has been generated from information found on Charity Navigator.
Is Soumc Endowment Foundation legitimate?
Soumc Endowment Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Soumc Endowment 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
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What is the mission statement of Soumc Endowment Foundation?
The Soumc Endowment Foundation (SOUMCEF) serves a charitable purpose by supporting the Sherman Oaks United Methodist Church (SOUMC) and various mission projects. Specifically, it contributes to maintaining the church's building, supports worldwide mission initiatives of the United Methodist Church, and engages in local missions. The foundation's contributions are primarily channeled through the Trustees of SOUMC, who manage the building maintenance budget. The SOUMCEF's mission is to contribute to these initiatives, thereby supporting the church and its broader mission.
Who is the CEO of Soumc Endowment Foundation?
Meghan Palmer is the President of Soumc Endowment Foundation.
What is the revenue of Soumc Endowment Foundation?
Soumc Endowment Foundation's revenue in 2022 was $30,898.
Who are the executives of Soumc Endowment Foundation and what are their salaries?
There 5 volunteers at Soumc Endowment Foundation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $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 Soumc Endowment Foundation?
Soumc Endowment Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Soumc Endowment Foundation
The Soumc Endowment Foundation, in its mission, supports the Sherman Oaks United Methodist Church (SOUMC) by making significant contributions towards various initiatives. Primarily, the foundation aids in the maintenance of SOUMC's facilities, ensuring the church's structural integrity and overall functionality.
Beyond the local church, the Soumc Endowment Foundation extends its support to worldwide mission projects affiliated with the United Methodist Church, a connectional institution. By contributing to these global endeavors, the foundation plays a vital role in furthering the influence and impact of the United Methodist Church on a larger scale.
Lastly, the foundation also shows commitment to local missions through financial contributions. By doing so, the Soumc Endowment Foundation contributes to the betterment of their community, addressing various needs and concerns that align with the values and principles of the United Methodist Church. The foundation's role in supporting SOUMC and its affiliated missions is crucial in fostering an inclusive and supportive environment, embodying the spirit of unity and compassion within the Methodist community.
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Impact
October, 2024
The Soumc Endowment Foundation significantly contributes to the vitality and sustainability of the Sherman Oaks United Methodist Church (SOUMC) by funding essential building maintenance. This support ensures that the church remains a welcoming and functional space for the community. Additionally, the foundation plays a crucial role in advancing both worldwide mission projects of the connectional United Methodist Church and local ministries, fostering a deeper connection within the community and beyond. By focusing on these key areas, the Soumc Endowment Foundation enhances community improvement efforts, enabling a broader impact on the lives of individuals and families served by SOUMC in Sherman Oaks, CA.
This information is meant to be a general summary of Soumc Endowment 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: $30,898
- Gross Receipts: $30,898
Assets and Liabilities:
- Total Assets: $711,126
- Total Liabilities: $1,501
- Net Assets: $709,625
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Organization Details
Founding Year
1998
Phone
(818) 789-0351Principal Officer
Meghan Palmer
Main Address
14401 Dickens Street, Sherman Oaks, CA, 91423
NTEE Category
Code: S20Z - Community improvement
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