Overview
What is Watertown Area Community Foundation?
The Watertown Area Community Foundation is a charitable organization situated in Watertown, Wisconsin. Its primary focus lies in offering scholarship funding and supporting community projects, with the aim of fostering higher education and community improvement. Funding is awarded based on merit and financial need. The foundation's mission is to enhance the well-being of Watertown and its surrounding area, striving to improve the overall quality of life for its residents.
Official website here: www.watertowncommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
The Watertown Area Community Foundation holds a respectable 88% rating from Charity Navigator, which underscores its strong performance in accountability and finance. This rating is derived solely from the foundation's accountability measures, indicating a focused commitment to financial integrity. The charity has achieved perfect scores in several key areas, such as having a fully independent board and a robust audit and oversight committee, showcasing its dedication to transparency.
Among its strengths, the foundation has demonstrated excellent management of financial resources, with a program expense ratio of 93.21%. This suggests that a significant portion of its funds is directed toward its programs rather than administrative costs. Additionally, the absence of any material diversion of assets highlights its reliability and trustworthiness in managing donor contributions.
However, the foundation does face some limitations regarding governance policies, specifically the absence of a conflict of interest policy and a whistleblower policy, both of which could enhance its accountability mechanisms. Addressing these areas could further strengthen its operational framework and increase confidence among stakeholders. Overall, while the foundation shows solid financial health and governance, improving its policy documentation would be beneficial.
This AI summary has been generated from information found on Charity Navigator.
Is Watertown Area Community Foundation legitimate?
Watertown Area Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watertown Area Community 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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Official website here: www.watertowncommunityfoundation.org
What is the mission statement of Watertown Area Community Foundation?
The Watertown Area Community Foundation is dedicated to improving the well-being of its community. Their mission is to enhance the quality of life for its people by providing resources and funding for higher education and community improvement projects. They award scholarships based on merit and need, aiming to make a positive impact in the area. The foundation's activities are centered around promoting the betterment of the community and fostering opportunities for personal growth and development.
Official website here: www.watertowncommunityfoundation.org
Who is the CEO of Watertown Area Community Foundation?
Mike Hoppenrath is the President of Watertown Area Community Foundation.
Official website here: www.watertowncommunityfoundation.org
What is the revenue of Watertown Area Community Foundation?
Watertown Area Community Foundation's revenue in 2022 was $2,099,270.
Official website here: www.watertowncommunityfoundation.org
Who are the executives of Watertown Area Community Foundation and what are their salaries?
There 10 volunteers at Watertown Area Community Foundation.
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Official website here: www.watertowncommunityfoundation.org
Where can I find the form 990 for Watertown Area Community Foundation?
Watertown Area Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.watertowncommunityfoundation.org
Learn more at the official website: www.watertowncommunityfoundation.org
Mission Statement of Watertown Area Community Foundation
The Watertown Area Community Foundation is committed to enhancing the quality of life for people in Watertown, Wisconsin, and its surrounding areas. Their mission is twofold: firstly, they strive to improve Watertown and its surroundings, and secondly, they aim to promote betterment in the community. They achieve this by funding scholarships for higher education and supporting community projects. The scholarships are awarded based on merit and need, demonstrating their dedication to fostering educational opportunities and community improvement.
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Impact
July, 2024
The Watertown Area Community Foundation's impact is significant in promoting the betterment of Watertown, Wisconsin, and its surrounding area. Through scholarship funding and community projects aimed at enhancing the quality of life for its residents, the foundation plays a crucial role in supporting higher education and community improvement efforts. By awarding funding based on merit and need, the foundation contributes to the growth and development of the community, making a positive impact on the lives of its people.
This information is meant to be a general summary of Watertown Area Community 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.
- Investment Income: $510,553
- Gross Receipts: $3,224,178
Assets and Liabilities:
- Total Assets: $12,542,679
- Total Liabilities: $2,930,555
- Net Assets: $9,612,124
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Organization Details
Founding Year
1991
Phone
(920) 285-0537Principal Officer
Mike Hoppenrath
Main Address
PO BOX 351, WATERTOWN, WI, 53094
NTEE Category
Code: T31 - Philanthropy
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