Overview
What is Bement Foundation?
The Bement Foundation is a nonprofit organization located in Bement, Illinois. Their primary focus lies in providing educational scholarships, with seven awards distributed to three recipients in 2021 alone. Beyond education, they are dedicated to enhancing and developing their local community. Their mission encompasses both educational services and community improvement initiatives. The foundation offers support in various capacities to contribute positively to its area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating reflects a moderate level of financial health and accountability for the Bement Foundation. The organization demonstrates strong governance with a fully independent board of directors and fulfills its documentation requirements effectively.
The foundation shows a commendable commitment to its programs, indicated by a high program expense ratio of 91.40%. This suggests that a significant portion of its funds is directed towards fulfilling its mission rather than administrative costs. The absence of any material diversion of assets further enhances its credibility and trust in managing resources.
However, the overall Two-Star rating indicates that there may be room for improvement in some operational aspects, particularly in financial transparency. While the foundation has solid practices in place, additional measures to enhance accountability could elevate its performance and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Bement Foundation legitimate?
Bement Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bement 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.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Bement Foundation?
The Bement Foundation's mission is centered around providing educational services and contributing to the enhancement and development of local communities. This entails offering educational scholarships to individuals in need, as demonstrated by their distribution of seven scholarships to three recipients in 2021. The foundation's activities extend beyond education, encompassing efforts to improve and uplift the surrounding area.
Who is the CEO of Bement Foundation?
Unavailable
What is the revenue of Bement Foundation?
Bement Foundation's revenue in 2021 was $13,320.
Who are the executives of Bement Foundation and what are their salaries?
There 20 volunteers at Bement Foundation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Bement Foundation?
Bement Foundation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Bement Foundation
The Bement Foundation is committed to fulfilling its mission in the realms of educational services and community and area enhancement and development. This mission is multifaceted, encompassing various initiatives aimed at bettering society. One of their key focus areas is providing educational scholarships. In 2021, the organization granted seven scholarships to three deserving individuals, demonstrating their commitment to fostering learning and personal growth. By investing in education, the Bement Foundation is helping to shape the leaders and innovators of tomorrow. Beyond education, the foundation also contributes to community development, working towards enhancing the well-being and prosperity of the areas it serves.
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Impact
August, 2024
The Bement Foundation's impact can be seen in its provision of educational scholarships to individuals, helping to support their academic pursuits and further their personal development. By awarding educational scholarships, the foundation is contributing to the educational advancement of individuals within the community, thereby enhancing opportunities for learning and growth. This demonstrates the foundation's commitment to fostering education and development in the Bement area.
This information is meant to be a general summary of Bement 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 2021.
- Investment Income: $6,770
- Gross Receipts: $13,320
Assets and Liabilities:
- Total Assets: $584,367
- Total Liabilities: $0
- Net Assets: $584,367
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Organization Details
Founding Year
1996
Phone
(217) 678-2321Main Address
PO Box 140, Bement, IL, 61813
NTEE Category
Code: T99 - Philanthropy
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