Overview
What is The Macomb Foundation?
The Macomb Foundation is a nonprofit organization situated in Mount Clemens, Michigan, specifically at 28 First Street Suite B, with a mission to foster growth and development in Macomb County. Their primary objective is to enhance the local business and community environment in this region. The foundation's activities are centered around promoting advancements in both sectors, contributing to the overall well-being and progress of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
The Macomb Foundation has received a rating of 54%, which translates to a One-Star rating. This rating is primarily derived from the organization's Accountability & Finance score, indicating that its financial practices and governance are a significant area of concern. While the foundation boasts a high percentage of independent board members and has established various governance policies, its overall financial health appears to be lacking.
Strengths of the organization include a complete and independent board structure, with no material diversion of assets reported. Additionally, the foundation has policies in place for conflict of interest and whistleblower protections, which are crucial for maintaining ethical standards. However, the foundation's financial practices reveal troubling trends, particularly with a program expense ratio of only 4.20%, suggesting that a very small portion of its funds are being directed toward its actual programs and services.
The lack of a posted tax form on the nonprofit's website and a liabilities to assets ratio of 91.44% highlight further financial weaknesses. These factors contribute to the low overall score, indicating that while the organization has solid governance practices, it may face challenges in effectively utilizing its resources for the intended mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Macomb Foundation legitimate?
The Macomb Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Macomb 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $114,600
For more financial information, click here
What is the mission statement of The Macomb Foundation?
The Macomb Foundation's mission is centered around fostering the progress of both business and community in a specific area. They strive to contribute to the advancement and growth of these sectors, without specifying a particular location in the provided information. Their activities are geared towards promoting a thriving business environment and a strong community.
Who is the CEO of The Macomb Foundation?
Kelley Lovati is the Director of The Macomb Foundation. The CEO's salary of The Macomb Foundation is $114,600 and their total compensation is $114,600.
What is the revenue of The Macomb Foundation?
The Macomb Foundation's revenue in 2022 was $180,194.
Who are the executives of The Macomb Foundation and what are their salaries?
Here are 9 key members and their salaries (The Macomb Foundation's CEO's salary is $114,600 and their total compensation is $114,600):
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- Compensation: $114,600
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Where can I find the form 990 for The Macomb Foundation?
The Macomb Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Macomb Foundation
The Macomb Foundation, a notable entity, is committed to fostering the progress and development of both business and community within Macomb County, Michigan. Its mission is centered around this objective, aiming to catalyze growth and improvement in the region. The foundation's role is pivotal in promoting a thriving business environment and a cohesive community, contributing to the overall betterment of Macomb County.
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Impact
October, 2024
The Macomb Foundation significantly influences the advancement of business and community in Macomb County, Michigan. By focusing on community improvement, it fosters economic development, enhances local initiatives, and strengthens collaboration among businesses and residents. The foundation's efforts create a vibrant environment that supports entrepreneurship, encourages community engagement, and builds a strong sense of local identity. Through strategic programs and initiatives, The Macomb Foundation plays a vital role in shaping a thriving, interconnected community in the region.
This information is meant to be a general summary of The Macomb 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 2022.
- Gross Receipts: $207,003
Assets and Liabilities:
- Total Assets: $282,652
- Total Liabilities: $258,470
- Net Assets: $24,182
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Organization Details
Phone
(586) 493-7600Principal Officer
Kelley Lovati
Main Address
28 FIRST STREET SUITE B, MOUNT CLEMENS, MI, 48043
NTEE Category
Code: S31 - Community improvement
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