Overview
What is Lima 370 Charity Foundation Inc?
Lima 370 Charity Foundation Inc, situated in Lima, Ohio, functions as a nonprofit organization. Its primary mission is to distribute funds to various charitable entities. This support extends to youth activities, particularly education and sports, as well as hospitals and local law enforcement organizations like the police and fire departments. The foundation also contributes to other charitable causes, ensuring its purpose is broad and far-reaching.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star rating.
Lima 370 Charity Foundation Inc has received a Two-Star rating, indicating that while the organization shows some strengths in accountability and finance, there are significant areas needing improvement. The foundation excels with a 100% independent board and a perfect program expense ratio, demonstrating effective use of funds towards its programs. However, it lacks transparency in several key areas, such as missing financial statements and essential governance policies.
The organization has no reported material diversion of assets and maintains a structure that ensures liability is non-existent, which are positive indicators of financial health. Nevertheless, the absence of vital documents like the conflict of interest policy and whistleblower policy raises concerns about governance practices.
Overall, while Lima 370 Charity Foundation Inc performs well in certain financial metrics and board independence, the lack of transparency and missing governance policies suggest that potential donors should proceed with caution. A more robust commitment to accountability and public disclosure would enhance the organization's rating and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Lima 370 Charity Foundation Inc legitimate?
Lima 370 Charity Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lima 370 Charity 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.
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What is the mission statement of Lima 370 Charity Foundation Inc?
The Lima 370 Charity Foundation Inc's mission is centered around providing financial aid for various charitable purposes. This includes supporting youth activities, particularly in the fields of education and sports. Furthermore, the foundation extends its assistance to hospitals and local law enforcement and fire departments. Beyond these specific areas, the foundation is also committed to providing financial support for any other charitable causes that align with its objectives. The foundation's role primarily involves distributing funds to other eligible charitable organizations.
Who is the CEO of Lima 370 Charity Foundation Inc?
Harry Zapp Jr is the President of Lima 370 Charity Foundation Inc.
What is the revenue of Lima 370 Charity Foundation Inc?
Lima 370 Charity Foundation Inc's revenue in 2023 was $583,499.
Who are the executives of Lima 370 Charity Foundation Inc and what are their salaries?
Here are 15 key members and their salaries:
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Where can I find the form 990 for Lima 370 Charity Foundation Inc?
Lima 370 Charity Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lima 370 Charity Foundation Inc
Lima 370 Charity Foundation Inc is committed to providing financial assistance for a variety of charitable purposes. At its core, the organization focuses on supporting youth activities, particularly in the realms of education and sports. Beyond this, Lima 370 also extends its generosity to hospitals and local law enforcement and fire departments. The foundation's mission is expansive, encompassing all charitable purposes that are incidental to these primary areas of support. In essence, Lima 370 Charity Foundation Inc aims to make a positive impact in various sectors of society by distributing funds to deserving charitable organizations.
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Impact
July, 2024
Lima 370 Charity Foundation Inc's impact can be seen in its support for youth activities, education, sports, hospitals, police, fire organizations, and other charitable purposes. Through the distribution of funds to various charitable organizations, the foundation plays a crucial role in improving the well-being and opportunities available to individuals in the community. Its mission to provide financial support for such causes demonstrates a commitment to philanthropy and making a positive difference in Lima, Ohio.
This information is meant to be a general summary of Lima 370 Charity 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 2023.
- Gross Receipts: $583,499
Assets and Liabilities:
- Total Assets: $357,649
- Total Liabilities: $0
- Net Assets: $357,649
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Organization Details
Founding Year
2003
Phone
(419) 224-3851Principal Officer
Harry Zapp Jr
Main Address
800 W Robb Ave, Lima, OH, 45801
NTEE Category
Code: T12 - Philanthropy
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