Overview
What is Heritage Fund Supporting Foundation Inc?
Heritage Fund Supporting Foundation Inc, located in Columbus, Indiana, serves as a supporting arm for the Heritage Fund of Bartholomew County, a recognized 501(c)3 organization. The primary role of the Foundation is to bolster the Heritage Fund's operations. This is achieved through various means, including soliciting special lifetime gifts for the Heritage Fund and establishing a fund to sustain its activities that aren't typically covered in the annual budget. Furthermore, the Foundation has developed a policy for managing real estate and other properties that come to its care, with the aim of promoting the Heritage Fund's work. In essence, Heritage Fund Supporting Foundation Inc's mission is to provide supportive services to the Heritage Fund, thereby contributing to the betterment of the Bartholomew County community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%
Heritage Fund Supporting Foundation Inc has received a 33% rating from Charity Navigator, resulting in a Zero-Star out of Four Star rating. This low score primarily stems from significant shortcomings in accountability and finance, which are crucial for donor trust and organizational transparency. The organization has a perfect score for independent board members and board size but fails to meet expectations in several key policy areas.
The foundation has no conflict of interest policy, whistleblower policy, or document retention policy in place, which are essential for ensuring governance and ethical operations. Additionally, the absence of necessary documents on its website, including tax forms, further detracts from its overall accountability score. While the organization shows good governance through its independent board structure, the lack of transparency and required policies raises concerns.
Moreover, the program expense ratio of 22.62% indicates that only a small portion of its expenditures are directed towards its programs, which may impact its effectiveness in fulfilling its mission. Overall, while there are some governance strengths, the significant weaknesses in accountability and transparency limitations are notable and warrant attention from potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Heritage Fund Supporting Foundation Inc legitimate?
Heritage Fund Supporting Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage Fund Supporting 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: $0
For more financial information, click here
What is the mission statement of Heritage Fund Supporting Foundation Inc?
The Heritage Fund Supporting Foundation Inc's mission is centered around providing supportive services for the operations of The Heritage Fund - The Community Foundation of Bartholomew County. This organization, functioning under Section 501(C)3 of the Internal Revenue Code, aims to encourage and receive special lifetime gifts for the benefit of The Heritage Fund of Bartholomew County Inc. It also developed a fund to help sustain the activities of The Heritage Fund that are not typically funded in its annual operating budget. Additionally, the Heritage Fund Supporting Foundation established a policy for handling real estate and other properties that come to the foundation to support and promote the work of The Heritage Fund.
Who is the CEO of Heritage Fund Supporting Foundation Inc?
Tracy Souza is the Chair of Heritage Fund Supporting Foundation Inc. The CEO's salary of Heritage Fund Supporting Foundation Inc is $0 and their total compensation is $193,325.
What is the revenue of Heritage Fund Supporting Foundation Inc?
Heritage Fund Supporting Foundation Inc's revenue in 2022 was $14,346.
Who are the executives of Heritage Fund Supporting Foundation Inc and what are their salaries?
There 4 volunteers at Heritage Fund Supporting Foundation Inc.
Here are 5 key members and their salaries (Heritage Fund Supporting Foundation Inc's CEO's salary is $0 and their total compensation is $193,325):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $185,000
- Other: $8,325
Where can I find the form 990 for Heritage Fund Supporting Foundation Inc?
Heritage Fund Supporting Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Heritage Fund Supporting Foundation Inc
Heritage Fund Supporting Foundation Inc's primary mission is to provide supportive services that aid in the operations of The Heritage Fund - The Community Foundation of Bartholomew County. This nonprofit organization, operating under Section 501(C)3 of the Internal Revenue Code, plays a crucial role in encouraging and receiving special lifetime gifts for the benefit of The Heritage Fund of Bartholomew County, Inc.
In addition to this, the Heritage Fund Supporting Foundation has developed a fund specifically designed to support and sustain the activities of The Heritage Fund. These activities are not typically funded within its annual operating budget. Moreover, the foundation has established a policy for handling real estate and other properties that come to the foundation with the intention of supporting and promoting the work of The Heritage Fund.
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Impact
October, 2024
Heritage Fund Supporting Foundation Inc plays a crucial role in enhancing the operations of the Heritage Fund - The Community Foundation of Bartholomew County. By encouraging and accepting special lifetime gifts, the Foundation bolsters the financial resources that are vital for the Heritage Fund's initiatives. This support enables the Heritage Fund to undertake a wider range of activities that might not be covered by its annual operating budget, ensuring that community needs are met effectively.
Additionally, the Foundation has established a clear policy for managing real estate and other properties, facilitating the growth and sustainability of the Heritage Fund’s mission. Through these efforts, the Heritage Fund Supporting Foundation fosters a culture of philanthropy within the community, ensuring that valuable programs and services can thrive in Columbus, Indiana. Overall, its impact is marked by a strengthened financial base and a more diverse array of community-focused projects.
This information is meant to be a general summary of Heritage Fund Supporting 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: $1,251
- Program Service Revenue: $27,000
- Gross Receipts: $100,987
Assets and Liabilities:
- Total Assets: $925,845
- Total Liabilities: $7,233
- Net Assets: $918,612
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INC FROM RELATE
Revenue
$27,000
Organization Details
Founding Year
2001
Phone
(812) 376-7772Principal Officer
Tracy Souza
Main Address
538 FRANKLIN STREET, COLUMBUS, IN, 47201
NTEE Category
Code: T11 - Philanthropy
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