Overview
What is Tipmont Remc Operation Roundup Trust Inc?
Tipmont Remc Operation Roundup Trust Inc is a nonprofit organization located in Linden, Indiana. Its primary mission is to support the community by rounding up the bills of cooperative members and donating the collected funds to qualified non-profit organizations categorized under the 501(C)(3) IRS tax category. Organizations seeking assistance submit grant applications, and a board of members reviews and decides on the recipients of the funds on a quarterly basis. The organization periodically disburses funds to various 501(C)(3) organizations to aid distressed and underprivileged individuals and contribute to youth and community development. In this instance, a grant was provided to the West Point Volunteer Fire Association.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-star (53%)
Tipmont Remc Operation Roundup Trust Inc has received a low rating of 53%, indicating significant concerns regarding its governance and transparency. The score suggests that the organization lacks independent board members, which could raise questions about its accountability. Key policies such as conflict of interest and whistleblower protections are missing, which are essential for good governance.
Despite the low overall rating, the organization demonstrates strengths in its financial management, as evidenced by a program expense ratio of 97.87%, meaning a large portion of its funds are directed towards its programs. Additionally, the liabilities to assets ratio is healthy at 26.21%, indicating sound financial practices. However, the lack of a public website listing and important governance policies limits its perceived credibility and operational transparency.
Improvements in governance practices and public accountability could significantly enhance Tipmont Remc Operation Roundup Trust Inc's rating and public trust. The absence of critical board policies and independent oversight is a limitation that could deter potential donors and supporters who prioritize transparency in nonprofit operations.
This AI summary has been generated from information found on Charity Navigator.
Is Tipmont Remc Operation Roundup Trust Inc legitimate?
Tipmont Remc Operation Roundup Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tipmont Remc Operation Roundup Trust 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: $0
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What is the mission statement of Tipmont Remc Operation Roundup Trust Inc?
Tipmont Remc Operation Roundup Trust Inc's mission is centered around supporting the community. They achieve this by rounding up the utility bills of participating co-op members and using the collected funds to grant money to non-profit organizations that fall under the 501(C)(3) IRS tax category. Qualifying organizations submit grant requests, and a board of members reviews them quarterly to decide which organizations will receive the funds. The primary objective is to contribute to the betterment of the community by supporting these eligible organizations.
What is the revenue of Tipmont Remc Operation Roundup Trust Inc?
Tipmont Remc Operation Roundup Trust Inc's revenue in 2024 was $31,099.
Who are the executives of Tipmont Remc Operation Roundup Trust Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Tipmont Remc Operation Roundup Trust Inc?
Tipmont Remc Operation Roundup Trust Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Tipmont Remc Operation Roundup Trust Inc
Tipmont REMC Operation Roundup Trust Inc, as a non-profit organization, is dedicated to supporting its community by employing a unique approach. It achieves this by rounding up the utility bills of its cooperative members and channeling the accumulated funds towards eligible non-profit organizations categorized under the 501(C)(3) IRS tax classification. Qualifying organizations submit grant applications, and a board of nine members carefully reviews and approves the allocations of these funds on a quarterly basis. By doing so, Tipmont REMC Operation Roundup Trust Inc plays a significant role in uplifting and contributing to the well-being of the community it serves.
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Impact
August, 2024
Tipmont Remc Operation Roundup Trust Inc's impact is significant in supporting various nonprofit organizations that are dedicated to helping distressed and underprivileged individuals, as well as promoting youth and community development. By rounding up the bills of participating members of the co-op and granting the collected funds to 501(c)(3) organizations, this trust plays a crucial role in channeling financial assistance to those in need. The grants provided by Tipmont Remc Operation Roundup Trust Inc have tangible effects on the organizations they support, such as the recent grant given to the West Point Volunteer Fire Association. This direct support helps these organizations carry out their missions and make a positive impact on the community.
This information is meant to be a general summary of Tipmont Remc Operation Roundup Trust 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 2024.
- Investment Income: $16
- Gross Receipts: $31,099
Assets and Liabilities:
- Total Assets: $15,669
- Total Liabilities: $9,236
- Net Assets: $6,433
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Organization Details
Founding Year
2000
Principal Officer
Dan Flemming
NTEE Category
Code: T30 - Philanthropy
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