Overview
What is Mankato Area Foundation?
The Mankato Area Foundation is a local nonprofit organization situated in Mankato, Minnesota, with an address at 212 E Walnut St 1. Their primary mission is to serve as a bridge between donors and the causes they are passionate about, aiming to enrich the livability and vitality of the Greater Mankato area. They accomplish this by distributing grants from their various funds, including the Community Fund, designated, and donor-advised funds. Furthermore, they offer support to nonprofit organizations through their Consultant in Residency Fund, which provides access to a consultant to help strengthen organizational needs. In addition to their grantmaking activities, the Mankato Area Foundation is involved in the Greater Mankato Inclusivity Study (GMIS), one of the most extensive community-led, mixed-method inclusivity studies in America. This study aims to gauge the current inclusivity status in the Greater Mankato area, focusing on various aspects such as age, gender, ethnicity, and abilities. With a team of five dedicated employees, the Mankato Area Foundation strives to collaborate with the community, act as a valuable resource, and contribute to the betterment of the region.
Official website here: www.mankatoareafoundation.com
What are the reviews and ratings of this charity?
Charity Navigator rating: Four-Star out of Four Stars (100%)
The Mankato Area Foundation has achieved a perfect score of 100%, showcasing exceptional accountability and financial management. The organization's strong governance is reflected in its fully independent board and comprehensive financial oversight, all of which contribute to its high rating. The foundation also demonstrates transparency through its well-documented policies and practices.
Strengths highlighted in the evaluation include a high program expense ratio of 85.68%, indicating that a significant portion of its funds directly supports its programs. Additionally, the foundation's fundraising efficiency is remarkable, with only $0.04 spent to raise each dollar, further showcasing its effectiveness. The solid financial health of the organization is evidenced by its low liabilities to assets ratio of 13.61%, which indicates a strong balance sheet.
While the rating reflects an exemplary performance in various aspects of governance and finance, the foundation's ongoing commitment to maintaining these standards will be crucial for future success. Overall, the Mankato Area Foundation stands out as a responsible and efficient nonprofit, dedicated to serving its community effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Mankato Area Foundation legitimate?
Mankato Area Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mankato Area 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: $333,287
Professional Fundraising Fees: $0
Other Salaries and Wages: $87,385
For more financial information, click here
Official website here: www.mankatoareafoundation.com
What is the mission statement of Mankato Area Foundation?
The Mankato Area Foundation serves as a reliable intermediary, linking donors with causes that resonate with them. Their mission involves providing financial assistance to enrich the community, acting as a collaborative partner in various initiatives, and offering support to nonprofit organizations to improve their operational efficiency. The Foundation has also launched a comprehensive study titled the Greater Mankato Inclusivity Study (GMIS), aiming to assess and enhance inclusivity within the community, focusing on aspects such as age, gender, ethnicity, and abilities.
Official website here: www.mankatoareafoundation.com
Who is the CEO of Mankato Area Foundation?
Nancy Zallek is the President & Ceo of Mankato Area Foundation. The CEO's salary of Mankato Area Foundation is $88,221 and their total compensation is $123,233.
Official website here: www.mankatoareafoundation.com
What is the revenue of Mankato Area Foundation?
Mankato Area Foundation's revenue in 2022 was $6,256,215.
Official website here: www.mankatoareafoundation.com
Who are the executives of Mankato Area Foundation and what are their salaries?
The average compensation at Mankato Area Foundation during 2022 was $84,134. There are 5 employees and 35 volunteers at Mankato Area Foundation.
Here are 26 key members and their salaries (Mankato Area Foundation's CEO's salary is $88,221 and their total compensation is $123,233):
- Compensation: $88,221
- Related: $0
- Other: $35,012
- Compensation: $88,408
- Related: $0
- Other: $3,246
- Compensation: $72,472
- Related: $0
- Other: $16,878
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mankatoareafoundation.com
Where can I find the form 990 for Mankato Area Foundation?
Mankato Area Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mankatoareafoundation.com
Learn more at the official website: www.mankatoareafoundation.com
Mission Statement of Mankato Area Foundation
The Mankato Area Foundation serves as a reliable intermediary, linking donors with causes that resonate with their compassion. Its mission is multifaceted, encompassing the provision of funding to enhance the quality of life in the Greater Mankato area, acting as a collaborative community partner, and offering support to nonprofit organizations. By leveraging its resources and community connections, the Foundation aids in addressing the escalating needs of local communities, providing nonprofits with access to a consultant to streamline and strengthen their operations. Notably, the Mankato Area Foundation is also spearheading the Greater Mankato Inclusivity Study (GMIS), one of the largest community-led, mixed-method inclusivity studies in America. This initiative aims to evaluate the current state of inclusivity among students, residents, and workers in the Greater Mankato area, focusing on various aspects of diversity, including age, gender, ethnicity, and abilities.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
The Mankato Area Foundation has a significant impact in enriching the livability and vibrancy of the Greater Mankato area. Through its Community Fund, designated funds, and donor advised funds, the Foundation provides grants to support various causes and organizations in the community. Additionally, the Consultant in Residency Fund supports nonprofit organizations in addressing critical community needs by providing access to expert consultants. The Foundation's collaborative efforts, community partnerships, and resources have enabled them to address the escalating needs of the community effectively. Furthermore, their involvement in the Greater Mankato Inclusivity Study (GMIS) demonstrates a commitment to understanding and promoting inclusivity in the region. Overall, the Mankato Area Foundation plays a vital role in enhancing the quality of life in the Greater Mankato area.
This information is meant to be a general summary of Mankato Area 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: $1,139,636
- Program Service Revenue: $65,773
- Gross Receipts: $7,383,666
Assets and Liabilities:
- Total Assets: $27,051,711
- Total Liabilities: $4,060,021
- Net Assets: $22,991,690
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Administrative Fees
Revenue
$65,773
Organization Details
Founding Year
1974
Phone
(507) 389-4583Principal Officer
Nancy Zallek
Main Address
212 E Walnut St 1, Mankato, MN, 56001
NTEE Category
Code: T31 - Philanthropy
If you are a representative of Mankato Area Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.