Overview
What is St Paul's Foundation Fifth Third Bank?
St. Paul's Foundation Fifth Third Bank is a charitable organization based in Sylvania, Ohio, specifically at 8547 Black Forest Circle. The foundation's primary role is to invest its assets, with the aim of generating income. This income is then distributed to various charitable organizations, as outlined in its governing document. The organization's mission is rooted in the belief that its investments can make a significant impact in the lives of those served by the named charities. The foundation's activities contribute to the broader charitable sector, providing financial support to a diverse range of organizations as per its guidelines.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (53%)
St Paul's Foundation Fifth Third Bank has received a low rating of 53%, which translates to a One-Star out of Four Star rating, indicating significant concerns regarding its accountability and financial practices. One key issue is the lack of independent board members, which raises questions about governance and oversight. Although the charity has a perfect score regarding asset diversion, it has failed to implement essential policies, such as conflict of interest and whistleblower protections.
The organization demonstrates a strong program expense ratio of 90.11%, suggesting that a large portion of its funds is directed toward its programs rather than administrative costs. However, the absence of vital governance policies and public transparency, as evidenced by a missing website and tax form on its nonprofit page, diminishes trust and accountability.
Overall, while St Paul's Foundation Fifth Third Bank shows a commitment to programmatic spending, its poor governance practices and lack of independent oversight may pose risks to its overall effectiveness and sustainability. Potential donors and stakeholders should consider these factors carefully before engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is St Paul's Foundation Fifth Third Bank legitimate?
St Paul's Foundation Fifth Third Bank is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Paul's Foundation Fifth Third Bank 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.
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What is the mission statement of St Paul's Foundation Fifth Third Bank?
St. Paul's Foundation Fifth Third Bank's primary mission is to manage and invest its trust assets with the objective of generating income. This income, in turn, is intended for distribution to the charities specified in the governing document of the foundation. The foundation's activities are geared towards making distributions to various charitable organizations, as directed by the governing document. The primary focus of St. Paul's Foundation Fifth Third Bank is to support these charities financially, as per the terms of its trust.
Who is the CEO of St Paul's Foundation Fifth Third Bank?
Unavailable
What is the revenue of St Paul's Foundation Fifth Third Bank?
St Paul's Foundation Fifth Third Bank's revenue in 2022 was $208,211.
Who are the executives of St Paul's Foundation Fifth Third Bank and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for St Paul's Foundation Fifth Third Bank?
St Paul's Foundation Fifth Third Bank's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Paul's Foundation Fifth Third Bank
St. Paul's Foundation Fifth Third Bank is an organization that is dedicated to managing and investing trust assets. The primary goal of this foundation is to generate income, which is then distributed to various charitable organizations as outlined in its governing document. By doing so, St. Paul's Foundation Fifth Third Bank acts as a vital conduit, channeling resources to the chosen charities and contributing to their ongoing operations and initiatives. The foundation's mission is centered around the distribution of income, ensuring that it reaches the intended charitable organizations as per the stipulations outlined in its governing document.
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Impact
October, 2024
St. Paul's Foundation Fifth Third Bank significantly impacts the community by strategically investing trust assets to generate income. This income is then distributed to various charitable organizations as specified in its governing document, ensuring that funds are directed toward meaningful causes. Based in Sylvania, Ohio, the foundation plays a vital role in supporting a wide range of charitable activities, furthering philanthropy and contributing to the well-being of the community. Through its dedicated approach to asset management and distribution, it enables nonprofits to thrive and fulfill their missions effectively.
This information is meant to be a general summary of St Paul's Foundation Fifth Third Bank. 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: $205,211
- Gross Receipts: $1,447,058
Assets and Liabilities:
- Total Assets: $2,057,547
- Total Liabilities: $0
- Net Assets: $2,057,547
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Organization Details
Founding Year
1974
Phone
(513) 534-5310Main Address
8547 BLACK FOREST CIRCLE, SYLVANIA, OH, 43560
NTEE Category
Code: T30 - Philanthropy
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