Overview
What is Tremont Betterment Association?
The Tremont Betterment Association is a nonprofit organization situated in Tremont, Illinois. Their primary mission is to improve the lives of local residents by distributing funds derived from the annual Tremont Turkey Festival. These grants are allocated to various not-for-profit organizations and local governmental bodies within the Tremont area. Moreover, the association awards scholarships to deserving students, aiding them in their pursuit of higher education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating.
The Tremont Betterment Association has received a Two-Star rating from Charity Navigator, reflecting a score of 73%. This rating is solely based on their Accountability & Finance metrics, which indicates the organization meets certain standards but may not excel in all areas. A significant strength is their accountability, evidenced by an independent board composed entirely of independent members, scoring the maximum points in this area.
Furthermore, the organization demonstrates solid financial practices with a program expense ratio of 90.64%, meaning that a substantial portion of their budget is allocated to programs rather than administrative costs. They also maintain a perfect score for their liabilities to assets ratio, indicating no debt, which is favorable for long-term sustainability.
However, while the accountability measures are commendable, the overall score suggests that there may be areas for improvement in the organization's performance or transparency that could enhance their rating further. Continued focus on broadening financial metrics could help elevate their standing in future evaluations.
This AI summary has been generated from information found on Charity Navigator.
Is Tremont Betterment Association legitimate?
Tremont Betterment Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tremont Betterment Association 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 Tremont Betterment Association?
The Tremont Betterment Association's mission is centered around promoting the betterment of its community. They accomplish this by distributing grants, derived from the annual Tremont Turkey Festival's net earnings. These funds are utilized to support various not-for-profit organizations and local government agencies within the Tremont area. Furthermore, the association also offers scholarships to deserving local students, aiding them in pursuing higher education.
Who is the CEO of Tremont Betterment Association?
Julie Mathis is the President of Tremont Betterment Association.
What is the revenue of Tremont Betterment Association?
Tremont Betterment Association's revenue in 2022 was $43,270.
Who are the executives of Tremont Betterment Association and what are their salaries?
There 45 volunteers at Tremont Betterment Association.
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Where can I find the form 990 for Tremont Betterment Association?
Tremont Betterment Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tremont Betterment Association
The Tremont Betterment Association, a renowned organization, is committed to improving the lives of its community members in Tremont, Illinois. It achieves this mission by utilizing the net earnings from the annual Tremont Turkey Festival. These funds are then allocated as grants to various not-for-profit entities and local government agencies within the Tremont area. Furthermore, the association extends financial aid to several local students in the form of scholarships, contributing towards their higher education. This initiative by the Tremont Betterment Association aims to uplift and empower its community, promoting a better future for all its residents.
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Impact
August, 2024
The Tremont Betterment Association's impact can be clearly seen in the positive changes it brings to the citizens of Tremont, Illinois. Through the grants provided from the net proceeds of the annual Tremont Turkey Festival, this organization contributes to the betterment of the community. The funds raised are used to benefit various not-for-profit and local government agencies within Tremont, IL, making a direct impact on the lives of residents. Additionally, several local students receive scholarships to further their education, highlighting the association's commitment to supporting the community's youth. This organization's focus on community improvement is evident in its mission to enhance the overall well-being and development of Tremont, Illinois.
This information is meant to be a general summary of Tremont Betterment Association. 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: $262
- Gross Receipts: $272,153
Assets and Liabilities:
- Total Assets: $292,305
- Total Liabilities: $0
- Net Assets: $292,305
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Organization Details
Founding Year
1976
Principal Officer
Julie Mathis
Main Address
PO BOX 611, TREMONT, IL, 61568
NTEE Category
Code: S120 - Community improvement
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