Overview
What is The Lima Community Foundation?
The Lima Community Foundation is a nonprofit organization that encourages philanthropy, assumes responsible stewardship, and spearheads initiatives to optimize the utilization of communal assets, aiming to cater to the requirements of its local populace. They accomplish this by granting funds to local organizations as part of their programs, acting as a vital bridge between community needs and available resources.
Official website here: www.limacommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Stars)
The Lima Community Foundation has received a Two-Star rating from Charity Navigator, reflecting a score of 65%. This rating indicates that while the organization demonstrates certain financial strengths, there are significant concerns regarding governance and accountability. The foundation has a strong program expense ratio of 72.03% and maintains a solid liabilities to assets ratio at 0.00%, which suggests efficient fund utilization and financial stability.
However, the organization faces considerable challenges in governance practices. The lack of independent board members, missing policies for conflict of interest and whistleblower protections, and the absence of documented board meeting minutes are serious drawbacks. These deficiencies raise concerns about transparency and accountability, which are crucial for donor confidence and organizational integrity.
Overall, while The Lima Community Foundation shows promise in its financial management and program effectiveness, the lack of essential governance structures and transparency mechanisms detracts from its overall rating. Stakeholders may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is The Lima Community Foundation legitimate?
The Lima Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lima 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:
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Official website here: www.limacommunityfoundation.org
What is the mission statement of The Lima Community Foundation?
The Lima Community Foundation is committed to fostering philanthropy and assuming a leadership role in managing community resources. Their mission is to ensure these resources are utilized effectively to cater to the needs of its citizens. The foundation achieves this by offering grants to local organizations as part of its programs. In essence, their goal is to promote charitable giving and guide the allocation of resources to address community demands.
Official website here: www.limacommunityfoundation.org
Who is the CEO of The Lima Community Foundation?
Karen A Boitnott is the President of The Lima Community Foundation.
Official website here: www.limacommunityfoundation.org
What is the revenue of The Lima Community Foundation?
The Lima Community Foundation's revenue in 2022 was $2,095,392.
Official website here: www.limacommunityfoundation.org
Who are the executives of The Lima Community Foundation and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.limacommunityfoundation.org
Where can I find the form 990 for The Lima Community Foundation?
The Lima Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.limacommunityfoundation.org
Learn more at the official website: www.limacommunityfoundation.org
Mission Statement of The Lima Community Foundation
The Lima Community Foundation, as a philanthropic organization, is committed to fostering a culture of giving and taking an active role in guiding the effective use of community resources. Its mission is geared towards addressing the needs of its citizens by promoting philanthropy and providing stewardship and leadership. This nonprofit organization serves as a catalyst, working tirelessly to enhance the capacity of local organizations to make a meaningful impact in their community. By providing grants as part of its programs, The Lima Community Foundation plays a significant role in mobilizing resources and channeling them towards initiatives that address the evolving needs of its community members.
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Impact
October, 2024
The Lima Community Foundation has a significant impact on the local community by actively promoting philanthropy and enhancing the use of community resources to address the needs of its citizens. Through its leadership and stewardship initiatives, the foundation allocates grants to local organizations, fostering collaboration and encouraging the development of programs that support various community needs. This not only strengthens local nonprofits but also empowers citizens by ensuring that resources are effectively utilized to improve their quality of life. By cultivating a culture of giving and partnership, the Lima Community Foundation plays a crucial role in driving positive change and enrichment within the Lima community.
This information is meant to be a general summary of The Lima 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: -$5,144
- Gross Receipts: $2,702,464
Assets and Liabilities:
- Total Assets: $8,157,098
- Total Liabilities: $0
- Net Assets: $8,157,098
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Organization Details
Founding Year
1965
Phone
(419) 221-5928Principal Officer
Karen A Boitnott
Main Address
PO Box 1086, Lima, OH, 45802
NTEE Category
Code: T31 - Philanthropy
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