Overview
What is Leroy Community Foundation?
The Leroy Community Foundation is a Nonprofit organization situated in Leroy, Minnesota, specifically at 122 W MAIN STREET PO BOX 221. Their primary mission is to enrich the community of Leroy by allocating funds exclusively for civic improvement, health, literacy, recreation, music, history, and cultural purposes. With a dedicated team of one individual, the foundation aims to strengthen the community by supporting initiatives that promote betterment in these areas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating
The Leroy Community Foundation has received a 73% rating from Charity Navigator, indicating a moderate level of accountability and financial health. The foundation boasts a high level of independence on its board, with 88% of members being independent, which is a positive indicator of governance. Additionally, the organization maintains a low liabilities to assets ratio of 0.06%, demonstrating strong financial stability.
However, the foundation has several significant shortcomings that impact its overall rating. There are missing policies regarding conflict of interest, whistleblowing, and document retention, which are essential for transparency and ethical governance. Furthermore, the organization does not have its website listed on its tax form, nor does it post its tax documents on the nonprofit's website, leading to a score of zero in these areas.
Despite its strong program expense ratio of 97.41%, which indicates that a large majority of funds are directed towards its programs, the absence of crucial governance policies and transparency measures detracts from the foundation's overall effectiveness and accountability. Addressing these issues could enhance the foundation's reputation and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Leroy Community Foundation legitimate?
Leroy Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Leroy Community 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
What is the mission statement of Leroy Community Foundation?
The Leroy Community Foundation's mission is centered around enhancing its community. Through the utilization of exclusive funds, the foundation aims to foster civic betterment, promote health, encourage literacy, stimulate recreational activities, support musical endeavors, preserve history, and nurture cultural growth. The primary objective is to strengthen the community in various aspects, thereby improving the overall quality of life for its residents. The foundation achieves this by administering these funds for the specified purposes.
Who is the CEO of Leroy Community Foundation?
Kevin Janssen is the Chairman of Leroy Community Foundation.
What is the revenue of Leroy Community Foundation?
Leroy Community Foundation's revenue in 2022 was $106,947.
Who are the executives of Leroy Community Foundation and what are their salaries?
There is 1 employee and 17 volunteers at Leroy Community Foundation.
Here are 17 key members and their salaries:
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Where can I find the form 990 for Leroy Community Foundation?
Leroy Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Leroy Community Foundation
The Leroy Community Foundation, in its mission, aims to bolster the community by utilizing funds exclusively for civic betterment, health, literary, recreational, musical, historical, and cultural purposes. This nonprofit organization is dedicated to enhancing the community's well-being in various aspects, ensuring a vibrant and enriching environment for its residents. By administering these funds, the Leroy Community Foundation seeks to contribute to the community's growth and development, fostering a sense of unity and prosperity.
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Impact
October, 2024
The Leroy Community Foundation plays a vital role in enhancing the quality of life in the Leroy community. By administering funds dedicated to civic betterment, health, literature, recreation, music, history, and culture, it fosters growth and development across multiple sectors.
Through its financial support, the foundation enables various initiatives that promote community well-being and encourages cultural enrichment. This includes funding for local events, recreational programs, and historical preservation efforts, all of which strengthen community bonds and foster a sense of pride among residents. As a result, the Leroy Community Foundation significantly contributes to a vibrant and engaged community, ensuring that residents have access to resources that enhance their overall quality of life.
This information is meant to be a general summary of Leroy Community 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: $1,450
- Gross Receipts: $390,399
Assets and Liabilities:
- Total Assets: $258,217
- Total Liabilities: $687
- Net Assets: $257,530
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Organization Details
Founding Year
1998
Phone
(507) 951-4885Principal Officer
Kevin Janssen
Main Address
122 W MAIN STREET PO BOX 221, LEROY, MN, 55951
NTEE Category
Code: T30 - Philanthropy
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