Overview
What is Wisconsin Trust Account Foundation Inc?
Wisconsin Trust Account Foundation Inc, based in Madison, Wisconsin, is a nonprofit organization dedicated to enhancing access to justice. The foundation funds and invests in services and projects, collaborating with civil legal aid organizations across the state. In 2022, they provided direct legal services grants to seventeen legal services agencies, aiding low-income individuals and families in areas such as family, housing, employment, disability, and consumer law. The foundation's operational costs are covered by the interest on lawyers' trust accounts and other revenue sources, according to a written cost allocation policy. The organization employs a modest workforce of four individuals.
Official website here: www.wistaf.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Wisconsin Trust Account Foundation Inc has received a commendable 96% score, indicating strong performance in accountability and finance. With a fully independent board and robust governance practices, the organization demonstrates a commitment to transparency and ethical management. Their financial oversight, including an active audit and oversight committee, reinforces their credibility and integrity.
In terms of financial efficiency, the Foundation has a high program expense ratio of 92.17%, which suggests that a significant portion of their resources is directed towards fulfilling their mission rather than administrative costs. Additionally, their liabilities to assets ratio of 9.44% reflects a sound financial position, minimizing risks associated with debt.
The Foundation's comprehensive policies on conflict of interest, whistleblower protection, and document retention further enhance its ratings. However, specific user feedback regarding program impact and community engagement is not highlighted, which could provide a more rounded view of the organization's effectiveness in achieving its goals.
This AI summary has been generated from information found on Charity Navigator.
Is Wisconsin Trust Account Foundation Inc legitimate?
Wisconsin Trust Account Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wisconsin Trust Account 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: $139,328
Professional Fundraising Fees: $0
Other Salaries and Wages: $187,382
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Official website here: www.wistaf.org
What is the mission statement of Wisconsin Trust Account Foundation Inc?
The Wisconsin Trust Account Foundation collaborates with civil legal aid organizations in the state to expand access to justice. They manage funds and invest in services and projects to aid individuals in resolving their legal issues. The foundation provides direct legal services grants, distributing awards to seventeen legal services agencies to assist low-income individuals and families with civil legal needs in areas like family, housing, employment, disability, and consumer law. Their administrative costs are covered through the Interest on Lawyers Trust Accounts (IOLTA) program and other revenue sources, following a written cost allocation policy.
Official website here: www.wistaf.org
Who is the CEO of Wisconsin Trust Account Foundation Inc?
Michelle Knutson is the Chairperson of Wisconsin Trust Account Foundation Inc.
Official website here: www.wistaf.org
What is the revenue of Wisconsin Trust Account Foundation Inc?
Wisconsin Trust Account Foundation Inc's revenue in 2022 was $3,801,162.
Official website here: www.wistaf.org
Who are the executives of Wisconsin Trust Account Foundation Inc and what are their salaries?
The average compensation at Wisconsin Trust Account Foundation Inc during 2022 was $81,678. There are 4 employees and 18 volunteers at Wisconsin Trust Account Foundation Inc.
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- Compensation: $137,542
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Official website here: www.wistaf.org
Where can I find the form 990 for Wisconsin Trust Account Foundation Inc?
Wisconsin Trust Account Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wistaf.org
Learn more at the official website: www.wistaf.org
Mission Statement of Wisconsin Trust Account Foundation Inc
The Wisconsin Trust Account Foundation, a nonprofit organization, collaborates with legal aid organizations in Wisconsin to enhance access to justice. Their primary mission involves overseeing funds and investing in services and projects to aid individuals and families in resolving their legal issues, particularly in areas such as family, housing, employment, disability, and consumer law. By working closely with legal aid organizations, the Foundation plays a crucial role in making legal assistance more accessible to those who may not be able to afford it, thereby contributing to a more equitable justice system. They do not derive any revenues directly from these activities. Instead, administrative costs for managing the grant programs are funded through the Interest on Lawyers Trust Accounts (IOLTA) Program, as per Wisconsin Supreme Court Rules Chapter 13, and portions of other revenue sources, based on a written cost allocation policy or calculation.
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Impact
July, 2024
Wisconsin Trust Account Foundation Inc's impact is profound and vital. By working with civil legal aid organizations in Wisconsin, the foundation significantly increases access to justice for individuals and families facing legal challenges. Through direct legal services grants, the foundation supports low-income individuals in various areas such as family, housing, employment, disability, and consumer law. This assistance is crucial in helping people address their legal needs and navigate complex legal issues.
This information is meant to be a general summary of Wisconsin Trust Account 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: $37,773
- Program Service Revenue: $1,943,334
- Gross Receipts: $5,317,112
Assets and Liabilities:
- Total Assets: $3,979,939
- Total Liabilities: $375,950
- Net Assets: $3,603,989
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TRUST ACCOUNT INTEREST INCOME
Revenue
$908,767
ATTORNEY ASSESSMENTS
Revenue
$908,450
PRO HAC VICE FEES
Revenue
$85,100
CY PRES AWARDS
Revenue
$41,017
Organization Details
Founding Year
1986
Phone
(608) 257-6845Principal Officer
Michelle Knutson
Main Address
4600 AMERICAN PKWY NO 104, MADISON, WI, 53718
Website
www.wistaf.orgNTEE Category
Code: I800 - Crime
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