Overview
What is Laredo Area Community Foundation?
The Laredo Area Community Foundation is a local philanthropic organization situated in Laredo, Texas. It serves as a hub for collecting funds from various sources, such as individuals, businesses, non-profits, and public agencies, with a mission to benefit Laredo and its surrounding communities. The foundation manages these contributions, investments, and proceeds from fundraising events, and distributes them through individual funds, including Donor-Advised Funds and Permanent Endowment Funds. These funds are granted to eligible organizations in sectors like Arts, Education, Environment, Health, Religion, and Social Services, as per their governing guidelines. The Laredo Area Community Foundation's goal is to promote and foster generosity, ultimately empowering future generations through charitable giving.
Official website here: www.laredofoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%
The Laredo Area Community Foundation has received an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a score of 96%, the organization demonstrates high transparency and efficient financial practices, which are critical in building trust with donors and the community it serves.
Strengths of the foundation are evident in its governance structure, featuring a fully independent board of members. Additionally, the organization excels in financial oversight, with no material diversion of assets reported and a favorable liabilities-to-assets ratio of 0.00%. Its commitment to policies such as conflict of interest and whistleblower protections further underscores its dedication to ethical practices.
Despite its strengths, the summary does not highlight any specific limitations or areas for improvement. Overall, the Laredo Area Community Foundation stands out as a well-managed nonprofit, effectively utilizing its resources to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Laredo Area Community Foundation legitimate?
Laredo Area Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laredo Area 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: $47,042
For more financial information, click here
Official website here: www.laredofoundation.org
What is the mission statement of Laredo Area Community Foundation?
The Laredo Area Community Foundation, as its mission, aims to motivate generosity and establish a lasting legacy of philanthropy. By doing so, it addresses the philanthropic needs of various communities, including Laredo and its surroundings. The foundation manages funds contributed by various entities, such as individuals, businesses, non-profits, and public agencies, which are later utilized to make charitable grants in various sectors, including Arts, Education, Environment, Health, Religion, and Social Services. The grants are distributed in accordance with the specifications outlined in the governing instruments of the individual funds, which can be Donor Advised Funds or Permanent Endowment Funds.
Official website here: www.laredofoundation.org
Who is the CEO of Laredo Area Community Foundation?
Christine H Cerda is the President of Laredo Area Community Foundation.
Official website here: www.laredofoundation.org
What is the revenue of Laredo Area Community Foundation?
Laredo Area Community Foundation's revenue in 2022 was $1,353,166.
Official website here: www.laredofoundation.org
Who are the executives of Laredo Area Community Foundation and what are their salaries?
The average compensation at Laredo Area Community Foundation during 2022 was $15,681. There are 3 employees at Laredo Area Community Foundation.
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Official website here: www.laredofoundation.org
Where can I find the form 990 for Laredo Area Community Foundation?
Laredo Area Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.laredofoundation.org
Learn more at the official website: www.laredofoundation.org
Mission Statement of Laredo Area Community Foundation
The Laredo Area Community Foundation, as its mission states, seeks to inspire generosity and empower the community by establishing a legacy of giving. This organization serves to cater to the philanthropic needs of Laredo and its surrounding areas, acting as a conduit for contributions from various sources such as individuals, businesses, non-profit organizations, and public agencies. By managing these funds, the foundation enables charitable grants to be distributed in various sectors, including Arts, Education, Environment, Health, Religious, and Social Services, as per the specifications outlined in the governing instruments of each individual fund. This mission of the Laredo Area Community Foundation aims to enhance the well-being of its community by harnessing the power of collective giving.
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Impact
October, 2024
The Laredo Area Community Foundation serves as a vital catalyst for philanthropy in Laredo and the surrounding communities, inspiring generosity and enabling a culture of giving. By managing funds contributed by individuals, businesses, nonprofit organizations, and public agencies, it directly addresses the philanthropic needs of the region.
With a focus on various sectors, including arts, education, environment, health, religious, and social services, the foundation channels resources into meaningful grants that support local initiatives. These grants stem from both Donor Advised Funds and Permanent Endowment Funds, allowing for a sustained impact over time.
Through its strategic fundraising efforts and prudent management of investments, the Laredo Area Community Foundation not only raises essential funding but also empowers community members and organizations to leave a lasting legacy through their contributions. This multifaceted approach fosters a spirit of collaboration and community well-being, addressing pressing local challenges while enhancing the quality of life across South Texas.
This information is meant to be a general summary of Laredo Area 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: $400,574
- Gross Receipts: $6,191,107
Assets and Liabilities:
- Total Assets: $15,194,862
- Total Liabilities: $0
- Net Assets: $15,194,862
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Organization Details
Founding Year
2004
Phone
(956) 326-2845Principal Officer
Christine H Cerda
Main Address
PO Box 450223, Laredo, TX, 78045
Website
www.laredofoundation.orgNTEE Category
Code: T31 - Philanthropy
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