Overview
What is Walter E Olson Memorial Library Foundation Inc?
The Walter E Olson Memorial Library Foundation Inc is a nonprofit organization located in Eagle River and its surrounding townships. Their primary mission is to enhance the Library as an educational and informational hub for the local community, going beyond the financial support received through annual tax revenues. They strive to empower citizens with additional resources, fostering a culture of learning and knowledge exchange.
Official website here: www.olsonlibraryfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36%
The Walter E Olson Memorial Library Foundation Inc has received a 36% rating from Charity Navigator, resulting in a Zero-Star out of Four Stars designation. This score is primarily derived from a single beacon focused on Accountability & Finance, highlighting significant concerns in financial management and transparency practices. While the organization demonstrates strong governance with a fully independent board, the lack of essential policies and low program spending raise red flags regarding its operational effectiveness.
Strengths of the foundation include 100% of the board being independent members and no material diversion of assets, indicating a commitment to ethical governance. Additionally, the library's minutes from board meetings are documented, and relevant financial information is presented on their website. However, these positive factors are overshadowed by the absence of critical policies such as a conflict of interest policy and a whistleblower policy, which are vital for maintaining accountability.
Limitations are evident in the financial health of the organization, as shown by a program expense ratio of only 3.63% and a liabilities to assets ratio of 0.00%. This indicates that very little of the foundation's resources are allocated toward its intended programs, which is a concern for potential donors and stakeholders looking for impactful contributions. Overall, while the foundation has some strengths in governance, the lack of financial transparency and operational policies significantly impacts its overall evaluation.
This AI summary has been generated from information found on Charity Navigator.
Is Walter E Olson Memorial Library Foundation Inc legitimate?
Walter E Olson Memorial Library Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Walter E Olson Memorial Library 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.olsonlibraryfoundation.org
What is the mission statement of Walter E Olson Memorial Library Foundation Inc?
The Walter E Olson Memorial Library Foundation Inc's mission is centered around enhancing the role of the library as a learning and informational resource for the community of Eagle River and its surrounding townships. Beyond the financial support provided through annual tax revenues, the foundation aims to expand the library's capabilities, ensuring it serves as a valuable educational and informational hub for its citizens.
Official website here: www.olsonlibraryfoundation.org
Who is the CEO of Walter E Olson Memorial Library Foundation Inc?
Nancy Schaffer is the President of Walter E Olson Memorial Library Foundation Inc.
Official website here: www.olsonlibraryfoundation.org
What is the revenue of Walter E Olson Memorial Library Foundation Inc?
Walter E Olson Memorial Library Foundation Inc's revenue in 2021 was $42,755.
Official website here: www.olsonlibraryfoundation.org
Who are the executives of Walter E Olson Memorial Library Foundation Inc and what are their salaries?
There 12 volunteers at Walter E Olson Memorial Library Foundation Inc.
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Official website here: www.olsonlibraryfoundation.org
Where can I find the form 990 for Walter E Olson Memorial Library Foundation Inc?
Walter E Olson Memorial Library Foundation Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.olsonlibraryfoundation.org
Learn more at the official website: www.olsonlibraryfoundation.org
Mission Statement of Walter E Olson Memorial Library Foundation Inc
The Walter E Olson Memorial Library Foundation Inc is committed to enhancing the role of the library as a learning and informational resource for the community beyond the financial support provided through annual tax revenues. In simpler terms, this nonprofit organization aims to augment the library's capabilities, making it an even more valuable learning and information hub for the citizens of Eagle River and its surrounding townships. By doing so, the Foundation seeks to contribute significantly to the intellectual growth and knowledge acquisition of the community, thereby enriching their lives.
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Impact
August, 2024
The impact of the Walter E Olson Memorial Library Foundation Inc is felt through its commitment to augmenting the library as a learning and information resource for the citizens of Eagle River and the surrounding townships. By providing additional financial support beyond annual tax revenues, the foundation helps ensure that the community has access to valuable resources and opportunities for education and enrichment. Its efforts contribute to the overall well-being and quality of life of the residents, making a tangible difference in the human services sector.
This information is meant to be a general summary of Walter E Olson Memorial Library 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 2021.
- Investment Income: $18
- Gross Receipts: $45,138
Assets and Liabilities:
- Total Assets: $59,737
- Total Liabilities: $0
- Net Assets: $59,737
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Organization Details
Founding Year
1992
Phone
(715) 479-8070Principal Officer
Nancy Schaffer
Main Address
PO BOX 1076, EAGLE RIVER, WI, 54521
NTEE Category
Code: P20Z - Human services
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