Overview
What is General Electric Employees Community Service Fund?
The General Electric Employees Community Service Fund is a charitable organization established by contributions from GE employees. Its primary purpose is to utilize the generated income for philanthropic activities, specifically by making donations to tax-exempt organizations. The fund, as mentioned in the provided information, has granted funding for the year 2022 to the Mary Magdalen House, alongside other eligible charities. The GE Employees Community Service Fund's mission is to channel employee contributions towards beneficial causes, thereby strengthening the community and promoting social welfare.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The General Electric Employees Community Service Fund has received a Two-Star out of Four Star rating from Charity Navigator, indicating areas that require significant improvement. While the organization scores well in categories such as board independence and transparency, with perfect scores for the majority of board members and documentation of meeting minutes, its overall accountability and finance score is a concerning 69%.
Key strengths include a solid governance structure, evidenced by a conflict of interest policy and a favorable liabilities to assets ratio. However, the nonprofit struggles significantly in fundraising efficiency, achieving a very low score in this area. This suggests challenges in generating adequate resources to support its programs effectively.
Furthermore, the program expense and working capital ratios reveal that the organization may not be allocating resources efficiently to its core missions. These limitations highlight the need for strategic improvements in financial management and fundraising to enhance the overall effectiveness of the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is General Electric Employees Community Service Fund legitimate?
General Electric Employees Community Service Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. General Electric Employees Community Service Fund 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 General Electric Employees Community Service Fund?
The General Electric Employees Community Service Fund is established to collect and manage funds generated from the personal contributions of GE employees. These funds are then distributed to charitable organizations that meet the criteria of being tax-exempt. The primary objective of the fund is to utilize its income for benevolent purposes by making donations to eligible organizations. The fund's activities in 2022 included granting funds to organizations such as Mary Magdalen House, among others.
Who is the CEO of General Electric Employees Community Service Fund?
Stephen Graves is the Treasurer of General Electric Employees Community Service Fund.
What is the revenue of General Electric Employees Community Service Fund?
General Electric Employees Community Service Fund's revenue in 2022 was $2,001,381.
Who are the executives of General Electric Employees Community Service Fund and what are their salaries?
There 13 volunteers at General Electric Employees Community Service Fund.
Here are 13 key members and their salaries:
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Where can I find the form 990 for General Electric Employees Community Service Fund?
General Electric Employees Community Service Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of General Electric Employees Community Service Fund
The General Electric Employees Community Service Fund is a charitable organization established with the collective contributions of GE employees. Its primary mission is to accumulate and manage funds for charitable purposes. This is accomplished by making contributions to qualified tax-exempt organizations. The fund serves as a platform for channeling the generosity of GE employees towards various philanthropic causes, demonstrating the company's commitment to social responsibility. The General Electric Employees Community Service Fund has granted funding in 2022 to Mary Magdalen House and other deserving organizations, further solidifying its role in supporting community initiatives and uplifting those in need.
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Impact
October, 2024
The General Electric Employees Community Service Fund plays a crucial role in fostering a culture of philanthropy among GE employees. By pooling personal contributions from employees, the fund enables these individuals to collectively impact various charitable causes. The income generated is allocated to tax-exempt organizations, thus supporting initiatives that align with employee values and community needs.
In 2022, for instance, funding was granted to the Mary Magdalen House, showcasing the fund's commitment to addressing local challenges. This support not only aids the recipients but also reinforces a sense of community among GE employees, as they see the tangible outcomes of their contributions. Overall, the fund strengthens connections between employees and the community while empowering them to make a difference through collective action.
This information is meant to be a general summary of General Electric Employees Community Service Fund. 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: $553
- Gross Receipts: $2,001,381
Assets and Liabilities:
- Total Assets: $739,607
- Total Liabilities: $0
- Net Assets: $739,607
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Organization Details
Founding Year
1959
Phone
(513) 502-3010Principal Officer
Stephen Graves
Main Address
One Neumann Way, Cincinnati, OH, 45215
NTEE Category
Code: T70Z - Philanthropy
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