Overview
What is Salem Community Foundation Inc?
Salem Community Foundation Inc is a nonprofit organization situated in Salem, Ohio, as indicated by its postal address. Their primary goal is to enhance the well-being of their local community. They accomplish this by distributing grants to a diverse range of organizations, contributing to their mission to improve the overall quality of life in the Salem area. With a modest workforce of just two employees, this foundation plays a significant role in supporting local initiatives and fostering community development.
Official website here: www.salemcommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
Salem Community Foundation Inc has received an overall score of 87% from Charity Navigator, indicating a solid performance in terms of accountability and finance. The score reflects a strong commitment to financial transparency and responsible management, with a focus on maintaining a stable financial structure. The foundation has consistently demonstrated high standards, particularly in its financial ratios and governance practices.
Key strengths of the foundation include a fully independent board consisting of 18 members, a lack of material diversion of assets, and strong ratios in program expenses and fundraising efficiency. All governance policies are well-documented and available, ensuring that the organization operates with integrity and accountability. The substantial working capital ratio of 18.55 years further underscores the foundation's financial health and ability to sustain its operations.
While the rating is commendable, it's important for stakeholders to continue monitoring the foundation's performance and any changes that may occur in governance or financial practices. The lack of specific information on program outcomes or community impact could also be a limitation for those looking for a comprehensive evaluation of the foundation's effectiveness in meeting its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Salem Community Foundation Inc legitimate?
Salem Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Salem Community Foundation Inc 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: $101,520
For more financial information, click here
Official website here: www.salemcommunityfoundation.org
What is the mission statement of Salem Community Foundation Inc?
The Salem Community Foundation Inc aims to enhance the quality of life in its local area. It accomplishes this objective by distributing grants to a diverse range of organizations. The foundation's mission, in essence, is dedicated to bettering the community by providing financial support. By doing so, it contributes to various aspects of community development and improvement.
Official website here: www.salemcommunityfoundation.org
Who is the CEO of Salem Community Foundation Inc?
John E Tonti is the Director of Salem Community Foundation Inc.
Official website here: www.salemcommunityfoundation.org
What is the revenue of Salem Community Foundation Inc?
Salem Community Foundation Inc's revenue in 2022 was $3,456,677.
Official website here: www.salemcommunityfoundation.org
Who are the executives of Salem Community Foundation Inc and what are their salaries?
The average compensation at Salem Community Foundation Inc during 2022 was $50,760. There are 2 employees and 18 volunteers at Salem Community Foundation Inc.
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Official website here: www.salemcommunityfoundation.org
Where can I find the form 990 for Salem Community Foundation Inc?
Salem Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.salemcommunityfoundation.org
Learn more at the official website: www.salemcommunityfoundation.org
Mission Statement of Salem Community Foundation Inc
Salem Community Foundation Inc, a nonprofit organization, is dedicated to enhancing the quality of life in its local community and the surrounding area. To achieve this mission, the foundation disburses grants to a diverse array of organizations. By providing financial support to these organizations, Salem Community Foundation Inc contributes to the betterment of its community, ultimately improving the lives of its residents.
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Impact
October, 2024
Salem Community Foundation Inc significantly enhances the quality of life in Salem, Ohio, through its strategic disbursement of grants to various organizations. By supporting initiatives across the community, the foundation fosters growth and development in diverse sectors, impacting education, healthcare, arts, and other local services. The grants facilitate critical programs and projects that directly address the needs of residents, promoting social cohesion and community resilience. Through its efforts, Salem Community Foundation Inc plays a vital role in uplifting the community, ensuring that residents have access to essential resources and opportunities for a better future.
This information is meant to be a general summary of Salem Community Foundation Inc. 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: $1,244,117
- Gross Receipts: $11,570,042
Assets and Liabilities:
- Total Assets: $39,149,977
- Total Liabilities: $2,219
- Net Assets: $39,147,758
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Organization Details
Founding Year
1966
Phone
(330) 332-4021Principal Officer
John E Tonti
Main Address
PO Box 553, SALEM, OH, 44460
NTEE Category
Code: T31 - Philanthropy
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