Overview
What is Virginia Community Foundation?
The Virginia Community Foundation is a charitable organization with a mission to enhance community development through grantmaking and leadership initiatives. Located at 303 Chestnut St, Virginia, MN 55792, they strive to support low-income students and those in crises by providing funds for school clothing and essential items. They also engage in fiscal sponsorship agreements, such as the MN DEED MSERP Grant, to support economic development projects. Additionally, the foundation contributes to various local initiatives, including school supplies, library improvements, life skills workshops, and community arts programs. Their work fosters accessibility, education, and engagement within their community, ensuring the best possible learning environments for all students.
Official website here: www.virginiafoundation.com/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating.
The Virginia Community Foundation has received a Three-Star rating, reflecting a score of 75%. This rating is based solely on the Accountability and Finance beacon, which emphasizes the organization’s commitment to responsible financial practices and transparency. Notably, the foundation boasts a fully independent board and maintains no material diversion of assets, which contributes positively to its accountability.
Strengths of the organization include its comprehensive conflict of interest policy and effective document retention practices. The foundation also demonstrates a solid liabilities-to-assets ratio of 0.79%, indicating prudent financial management. However, the program expense ratio is lower at 57.99%, suggesting that a smaller portion of its total expenses is being allocated directly to programs.
One area for improvement is the absence of a whistleblower policy, which received a score of 0 out of 7 points. Addressing this gap could enhance the foundation's governance and accountability framework. Overall, while the foundation shows strengths in transparency and independent governance, it may benefit from increasing its program spending and implementing a whistleblower policy.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Community Foundation legitimate?
Virginia Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia 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: $48,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $28,690
For more financial information, click here
Official website here: www.virginiafoundation.com/
What is the mission statement of Virginia Community Foundation?
The Virginia Community Foundation serves as a catalyst for charitable giving, fostering community investment through grantmaking and leadership initiatives. Its mission is to revitalize and strengthen the community by promoting various initiatives. The foundation supports initiatives such as providing school clothing, corrective eyewear, and necessary items for low-income students or those facing crises. It also supports economic development projects, relocating historical murals, and art education programs for children. The foundation acts as a fiscal sponsor for various community projects and grants, contributing to the betterment of the community in various ways.
Official website here: www.virginiafoundation.com/
Who is the CEO of Virginia Community Foundation?
Greg Gilness is the Vice Chair of Virginia Community Foundation.
Official website here: www.virginiafoundation.com/
What is the revenue of Virginia Community Foundation?
Virginia Community Foundation's revenue in 2022 was $457,686.
Official website here: www.virginiafoundation.com/
Who are the executives of Virginia Community Foundation and what are their salaries?
The average compensation at Virginia Community Foundation during 2022 was $38,345. There are 2 employees and 28 volunteers at Virginia Community Foundation.
Here are 15 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $48,000
- Related: $0
- Other: $0
Official website here: www.virginiafoundation.com/
Where can I find the form 990 for Virginia Community Foundation?
Virginia Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.virginiafoundation.com/
Learn more at the official website: www.virginiafoundation.com/
Mission Statement of Virginia Community Foundation
The Virginia Community Foundation serves as a catalyst for charitable giving, working towards strengthening and revitalizing the community. Their mission is to invest in various initiatives that not only grant funds but also lead in initiatives that foster community development. By providing resources and support, the Virginia Community Foundation aims to address a variety of needs, from promoting education and addressing crises in low-income families to supporting economic development projects and providing access to art education for children. Their initiatives span across various sectors, including education, economic development, and arts, aiming to improve the overall well-being of the community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Virginia Community Foundation's impact can be seen through various initiatives that strengthen and revitalize the community. For example, funds from Lou's Closet are designated to support low-income students or those experiencing crises at ISD 2909, providing essential resources to promote attendance and achievement. The foundation also supports economic development projects through programs like the MN DEED Main Street Economic Redevelopment Program, creating opportunities for community growth and revitalization.
Additionally, grants from Virginia Community Foundation have helped provide school supplies to families in need, improve accessibility to educational resources at the public library, enhance life skills programs for students, support sports programs at local schools, and contribute to the arts and cultural programs that benefit youth in the community.
Through its grantmaking and leadership initiatives, the foundation plays a crucial role as a catalyst for investment in charitable giving, ultimately contributing to the overall well-being and enhancement of the Virginia community in Minnesota.
This information is meant to be a general summary of Virginia 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: $236,763
- Gross Receipts: $476,464
Assets and Liabilities:
- Total Assets: $4,689,105
- Total Liabilities: $37,210
- Net Assets: $4,651,895
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2000
Phone
(218) 749-8239Principal Officer
Greg Gilness
Main Address
303 Chestnut St, Virginia, MN, 55792
Website
www.virginiafoundation.com/NTEE Category
Code: T31 - Philanthropy
If you are a representative of Virginia Community Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.