Overview
What is Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee?
Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee is a charitable trust established as the remainder beneficiary under the Options For Living Pooled OBRA Pay Back Trust. Its primary purpose is to provide funds for the care of participants in the Medicaid Pooled OBRA Trust, who have exhausted their own resources under the OBRA Trust. When a participant passes away, and their funds are not fully exhausted by Medicaid reimbursement or they do not designate a beneficiary for the remaining funds, these funds are added to the charitable trust to support other participants in the Pooled Trust once their own resources have been exhausted. The trust operates in compliance with its set guidelines and regulations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star rating)
Options For Living Pooled Charitable Trust has received an 84% rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization's rating is derived entirely from its performance in the Accountability & Finance beacon, reflecting its commitment to transparency and responsible management of funds.
One of the key strengths of this nonprofit is its governance structure, with a board consisting of 100% independent members, contributing to effective oversight. The organization has demonstrated no material diversion of assets and has established comprehensive policies, including a conflict of interest policy and a whistleblower policy, which further strengthens its operational integrity. The fiscal responsibility is highlighted by an impressive program expense ratio of 99.06%, indicating that nearly all of its funds are directed towards its programs.
Despite these strengths, the rating does not reflect other beacons such as Impact or Growth, which may provide a more comprehensive view of the organization's overall effectiveness. Therefore, while Options For Living Pooled Charitable Trust shows strong financial accountability, potential donors might seek additional information regarding its programmatic impact and long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee legitimate?
Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee is a legitimate nonprofit organization registered as a 501(c)(3) entity. Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee 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
For more financial information, click here
What is the mission statement of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee?
The Options For Living Pooled Charitable Trust, managed by Old National Wealth Management Co-Trustee, serves as a backup resource for individuals participating in the Medicaid POOLed OBRA Trust. Upon a participant's passing, if their funds are not entirely depleted by Medicaid reimbursement and they haven't designated a beneficiary, the remaining funds are contributed to this charitable trust. The primary objective of this trust is to provide financial aid for the care of other participants in the Medicaid POOLed OBRA Trust once their personal resources have been completely exhausted. The trust has previously made distributions for the welfare of beneficiaries of the OBRA Medicaid Payback Trust who had exhausted their separate accounts within the OBRA Trust.
Who is the CEO of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee?
Michael Pitts is the Co-Trustee of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee.
What is the revenue of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee?
Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee's revenue in 2022 was -$108,487.
Who are the executives of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $32,630
- Related: $0
- Other: $0
Where can I find the form 990 for Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee?
Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee
Options For Living Pooled Charitable Trust, managed by Old National Wealth Management Co-Trustee, serves as a beneficiary for remaining funds in the Options For Living Pooled OBRA Pay Back Trust. Upon a participant's passing, if their fund is not fully depleted by Medicaid reimbursement and they do not designate a beneficiary, these remaining funds are added to the charitable trust. The mission of this trust is to utilize these funds to provide care for other participants in the Medicaid Pooled OBRA Trust once their own resources have been completely exhausted. In essence, the charitable trust acts as a safety net, ensuring continuity of care for individuals who have exhausted their personal resources within the OBRA Medicaid Payback Trust.
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Impact
October, 2024
Options For Living Pooled Charitable Trust Old National Wealth Management Co-Trustee plays a crucial role in supporting individuals who are part of the OBRA Medicaid Payback Trust. Upon the passing of a participant, if their funds remain after Medicaid reimbursements and there is no designated beneficiary, those funds are redirected to the trust. This mechanism allows for the accumulation of resources that subsequently provide essential care for other participants who have depleted their own funds.
The impact of the trust is significant as it ensures continuity of care for individuals who rely on the Medicaid Pooled OBRA Trust. By redistributing unused funds, the trust addresses the gap in healthcare resources for those who have exhausted their financial options, thus enhancing the quality of life for vulnerable populations. It fosters a sense of community and shared responsibility, demonstrating a commitment to the well-being of individuals in need. This charitable effort ultimately aids in mitigating the financial burden of care for a group that often faces significant challenges in accessing necessary services.
This information is meant to be a general summary of Options For Living Pooled Charitable Tr Old National Wealth Mgmt Co-Trustee. 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: -$108,537
- Gross Receipts: $1,715,850
Assets and Liabilities:
- Total Assets: $2,188,805
- Total Liabilities: $0
- Net Assets: $2,188,805
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Organization Details
Founding Year
2000
Phone
(630) 725-3315Principal Officer
Michael Pitts
Main Address
PO BOX 207, EVANSVILLE, IN, 477020207
NTEE Category
Code: E00 - Health
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