Overview
What is The Forman Valley Community Foundation Inc?
The Forman Valley Community Foundation Inc is a nonprofit organization that focuses on managing and administering charitable funds. Utilizing a volunteer self-perpetuating Board of Directors, they distribute these funds to eligible nonprofit organizations and individuals. One of their notable initiatives includes improving the Village of Green Valley Basketball Court and offering complimentary swimming days at the Forman Park District. By engaging in these activities, The Forman Valley Community Foundation Inc aims to contribute positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
The Forman Valley Community Foundation Inc has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The foundation's score is solely based on its accountability measures, demonstrating a robust governance structure with 100% independent board members and a clear conflict of interest policy. Its financial health is highlighted by a liabilities to assets ratio of 0.00%, indicating no debt, and a significant program expense ratio of 82.63%, which shows a commitment to funding its programs effectively.
The organization exhibits a high level of transparency and accountability, as evidenced by its comprehensive documentation practices, including the availability of board meeting minutes and established whistleblower and document retention policies. The absence of any material diversion of assets further emphasizes the foundation's integrity and commitment to its mission.
While the data showcases strong financial management and governance, the focus remains primarily on these aspects. Potential donors may want to consider the foundation's programmatic impact and community engagement, which are not detailed in the financial metrics provided. Overall, The Forman Valley Community Foundation Inc presents a strong case for trust and reliability in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is The Forman Valley Community Foundation Inc legitimate?
The Forman Valley Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Forman Valley Community 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
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What is the mission statement of The Forman Valley Community Foundation Inc?
The Forman Valley Community Foundation Inc's mission revolves around managing and administering charitable funds. This self-sustaining organization distributes these funds to nonprofit organizations and individuals, aiming to make a positive impact in their respective fields. Their activities are overseen by a volunteer Board of Directors. In addition to this, the foundation contributes to community improvement projects, such as refurbishing the Village of Green Valley Basketball Court and offering free swimming days at the Forman Park District.
Who is the CEO of The Forman Valley Community Foundation Inc?
Dirk Heinhorst is the President of The Forman Valley Community Foundation Inc.
What is the revenue of The Forman Valley Community Foundation Inc?
The Forman Valley Community Foundation Inc's revenue in 2022 was $66,236.
Who are the executives of The Forman Valley Community Foundation Inc and what are their salaries?
There 20 volunteers at The Forman Valley Community Foundation Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for The Forman Valley Community Foundation Inc?
The Forman Valley Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Forman Valley Community Foundation Inc
The Forman Valley Community Foundation, a self-governing body composed entirely of volunteers, is dedicated to managing and distributing charitable funds to nonprofit organizations and individuals. This foundation serves as a catalyst for positive change, channeling resources towards worthy causes that align with its mission. By leveraging its volunteer Board of Directors, the organization facilitates the allocation of funds to deserving recipients, thereby contributing to the betterment of various communities. In addition to its primary role, The Forman Valley Community Foundation has also undertaken specific initiatives, such as renovating the Green Valley Basketball Court and providing three complimentary swimming days at the Forman Park District. These endeavors demonstrate the organization's commitment to enhancing community life and promoting well-being.
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Impact
August, 2024
The impact of The Forman Valley Community Foundation Inc is vast and significant. Through its management and administration of charitable funds, the foundation has been able to support numerous nonprofit organizations and individuals in the Manito, IL community. This support has resulted in tangible benefits such as the repair and improvement of the Village of Green Valley Basketball Court and the provision of three free swimming days at the Forman Park District. By making strategic distributions through a volunteer Board of Directors, The Forman Valley Community Foundation is able to positively impact the quality of life for many individuals and enhance the overall well-being of the community.
This information is meant to be a general summary of The Forman Valley Community 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: $35,454
- Gross Receipts: $66,236
Assets and Liabilities:
- Total Assets: $2,145,895
- Total Liabilities: $0
- Net Assets: $2,145,895
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Organization Details
Founding Year
1997
Phone
(309) 241-5867Principal Officer
Dirk Heinhorst
Main Address
PO Box 301, Manito, IL, 61546
NTEE Category
Code: T30 - Philanthropy
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