Overview
What is Coast Guard Mutual Assistance?
Coast Guard Mutual Assistance (CGMA) is a nonprofit organization situated in Arlington, Virginia, dedicated to supporting the financial resilience of the Coast Guard community. In times of disaster, emergencies, or unforeseen circumstances, CGMA steps in to provide aid where insurance fails to cover, offering assistance with travel, home repairs, property losses, financial or identity issues, pay complications, bills, and other urgent needs. The organization also extends help to survivors of domestic violence and individuals facing dire circumstances. CGMA empowers its members by offering interest-free loans and grants, preventing temporary financial difficulties from escalating into long-term problems. With a team of 12 individuals, CGMA serves as the official aid society for the United States Coast Guard, ensuring the well-being of its community during challenging times.
Official website here: www.cgmahq.org
What are the reviews and ratings of this charity?
**: Charity Navigator Rating 98% (Four-Star out of Four Stars)**tar)**
Coast Guard Mutual Assistance has earned a commendable Four-Star rating from Charity Navigator, signifying a high level of accountability and transparency. The majority of the board consists of independent members, and the organization has established various oversight measures, such as an Audit and Oversight Committee. These structures ensure responsible governance, with no reported issues of asset diversion, and they demonstrate a commitment to ethical operations.
The nonprofit's strengths lie in its significant program expense ratio, suggesting a strong focus on serving its community with 76% of expenses going directly to programs. The organization has a successful history of financial assistance, providing over $8.4 million during the 2019 government shutdown and addressing pandemic-related challenges with innovative programs. Additionally, efforts toward leadership development and community engagement further enhance its impact.
While the data reflects strong performance in several governance aspects, there is an apparent lack of emphasis on leadership adaptability, highlighted by a comparatively lower score in that category. This could suggest areas for further development as the organization seeks to meet its strategic goals effectively. Overall, Coast Guard Mutual Assistance shows commitment and capability in supporting its clients since its inception in 1924.
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This AI summary has been generated from information found on Charity Navigator.
Is Coast Guard Mutual Assistance legitimate?
Coast Guard Mutual Assistance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coast Guard Mutual Assistance 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: $581,336
Professional Fundraising Fees: $5,142
Other Salaries and Wages: $581,852
For more financial information, click here
Official website here: www.cgmahq.org
What is the mission statement of Coast Guard Mutual Assistance?
Coast Guard Mutual Assistance, serving as the official aid society for the United States Coast Guard, aims to promote financial resilience within the Coast Guard community. Their mission is to alleviate short-term financial challenges faced by "See Schedule O" members, preventing these issues from escalating into long-term problems. They accomplish this through grant and interest-free loan programs. In times of disaster or emergencies, CGMA provides aid for expenses not covered by insurance, unexpected repairs, losses, and other unforeseen circumstances that pose a significant financial or personal hardship, requiring immediate assistance. Their efforts are crucial in helping Coast Guard members navigate through these challenging situations.
Official website here: www.cgmahq.org
Who is the CEO of Coast Guard Mutual Assistance?
Cari Thomas is the Chairman of Coast Guard Mutual Assistance. The CEO's salary of Coast Guard Mutual Assistance is $175,016 and their total compensation is $188,268.
Official website here: www.cgmahq.org
What is the revenue of Coast Guard Mutual Assistance?
Coast Guard Mutual Assistance's revenue in 2022 was $8,002,714.
Official website here: www.cgmahq.org
Who are the executives of Coast Guard Mutual Assistance and what are their salaries?
The average compensation at Coast Guard Mutual Assistance during 2022 was $96,932. There are 12 employees and 595 volunteers at Coast Guard Mutual Assistance.
Here are 38 key members and their salaries (Coast Guard Mutual Assistance's CEO's salary is $175,016 and their total compensation is $188,268):
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Official website here: www.cgmahq.org
Where can I find the form 990 for Coast Guard Mutual Assistance?
Coast Guard Mutual Assistance's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cgmahq.org
Learn more at the official website: www.cgmahq.org
Mission Statement of Coast Guard Mutual Assistance
Coast Guard Mutual Assistance, serving as the official aid society for the United States Coast Guard, is committed to fostering financial resilience within the Coast Guard community. Their mission is to alleviate short-term financial challenges that Coast Guard members may encounter due to unforeseen circumstances, ensuring these difficulties do not escalate into long-term problems. The organization accomplishes this through grant and interest-free loan programs, which are meticulously designed to cater to the specific needs of Coast Guard members under "See Schedule O."
In the event of disasters or emergencies, Coast Guard Mutual Assistance provides aid where insurance fails to cover the losses. This may include unexpected repairs to homes or vehicles, travel expenses during emergencies, or assistance with bills and expenses following a disaster. The organization also extends a helping hand in situations such as privation, loss of funds, property, or identity, and even supports domestic violence survivors in dire circumstances. These short-term situations, often beyond the control of the individuals affected, can pose significant financial or personal hardships, necessitating urgent assistance. Coast Guard Mutual Assistance steps in to offer the necessary aid, ensuring the Coast Guard community remains financially resilient and supported in times of need.
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Impact
October, 2024
Coast Guard Mutual Assistance significantly enhances the financial resilience of the Coast Guard community by providing essential support during times of crisis. By offering grants and interest-free loans, it addresses urgent financial needs that arise from unforeseen circumstances such as natural disasters, emergency travel, and unexpected home or vehicle repairs.
This organization plays a crucial role in alleviating the financial burden faced by service members and their families, particularly in situations beyond their control, such as pay issues or losses related to identity theft. The aid provided helps prevent short-term challenges from escalating into chronic financial problems, thereby promoting stability and peace of mind within the Coast Guard community.
Furthermore, Coast Guard Mutual Assistance offers targeted support for individuals affected by domestic violence, ensuring that those in vulnerable situations receive timely assistance. By fulfilling these needs, CGMA not only helps individuals regain their footing but also strengthens the overall well-being of the community it serves, ensuring that its members are able to focus on their vital mission without the distraction of financial distress.
This information is meant to be a general summary of Coast Guard Mutual Assistance. 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: $1,522,930
- Gross Receipts: $53,574,851
Assets and Liabilities:
- Total Assets: $49,735,264
- Total Liabilities: $647,509
- Net Assets: $49,087,755
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Organization Details
Founding Year
1924
Phone
(703) 576-7529Principal Officer
Cari Thomas
Main Address
1005 N GLEBE ROAD 220, ARLINGTON, VA, 222015792
Website
www.cgmahq.orgNTEE Category
Code: W30 - Public benefit
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