Overview
What is Minnesota Masonic Charities Funds?
Minnesota Masonic Charities Funds is a charitable organization based in Bloomington, Minnesota, managing and administering investments for its affiliates, which are exempt under 501(C)(3). The organization's primary purposes include helping, aiding, and assisting the Masonic family and others, guided by Masonic principles. They accomplish this by providing financial support to non-profit tax-exempt entities that offer nursing care and elderly housing, community, health, social services, and education for the elderly. Additionally, they promote research and activities related to cancer, childhood language disorders, and the treatment of various maladies in youth. Furthermore, they assist students in obtaining higher education and preserve historical knowledge about Masonry in Minnesota. The organization also engages in supporting charitable causes and projects that aid, assist, and contribute to the advancement of other exempt foundations and associations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% - Three-Star out of Four Star Rating
Minnesota Masonic Charities Funds holds a solid Three-Star rating from Charity Navigator, reflecting an accountability and finance score of 87%. This rating suggests that the organization demonstrates a commendable level of transparency and financial responsibility. Key strengths include a fully independent board with 100% of members being independent, robust financial oversight through an audit committee, and effective governance policies in place.
The organization shows a healthy financial structure, indicated by a low liabilities to assets ratio of 6.39%, which points to effective management of its resources. Additionally, the program expense ratio is reasonably strong at 64.55%, though it falls slightly short of optimal performance, indicating room for improvement in direct program funding versus administrative expenses.
Overall, while Minnesota Masonic Charities Funds exhibits strong governance and financial health, enhancing its program expense ratio could further elevate its impact and efficiency in fulfilling its charitable mission.
This AI summary has been generated from information found on Charity Navigator.
Is Minnesota Masonic Charities Funds legitimate?
Minnesota Masonic Charities Funds is a legitimate nonprofit organization registered as a 501(c)(3) entity. Minnesota Masonic Charities Funds 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 Minnesota Masonic Charities Funds?
The Minnesota Masonic Charities Funds oversee the administration of investments for their affiliates, aligning with their primary objectives to help and assist various entities. Guided by the Masonic principles of brotherly love, relief, and truth, they provide financial aid to tax-exempt organizations offering nursing care, elderly housing, community services, health, social services, education for the elderly, and research related to cancer, childhood language disorders, and other maladies affecting youth. They also support students in pursuing higher education and engage in charitable causes, projects, and associations that contribute to the betterment of exempt corporations, trusts, and foundations.
Who is the CEO of Minnesota Masonic Charities Funds?
Eric J Neetenbeek is the President/Ceo - Charities of Minnesota Masonic Charities Funds. The CEO's salary of Minnesota Masonic Charities Funds is $0 and their total compensation is $465,126.
What is the revenue of Minnesota Masonic Charities Funds?
Minnesota Masonic Charities Funds's revenue in 2022 was $15,393,788.
Who are the executives of Minnesota Masonic Charities Funds and what are their salaries?
There 7 volunteers at Minnesota Masonic Charities Funds.
Here are 10 key members and their salaries (Minnesota Masonic Charities Funds's CEO's salary is $0 and their total compensation is $465,126):
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- Other: $0
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- Other: $0
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- Other: $0
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- Related: $430,564
- Other: $34,562
- Compensation: $0
- Related: $211,985
- Other: $33,710
- Compensation: $0
- Related: $226,124
- Other: $26,475
Where can I find the form 990 for Minnesota Masonic Charities Funds?
Minnesota Masonic Charities Funds's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Minnesota Masonic Charities Funds
Minnesota Masonic Charities Funds is a charitable organization dedicated to managing and administering investments for its affiliates. The primary objectives of Minnesota Masonic Charities and its allies align with the Masonic principles of brotherly love, relief, and truth.
In practice, this charitable body provides financial and other forms of assistance to various non-profit tax-exempt entities that offer nursing care and elderly housing facilities. Furthermore, it supports initiatives related to the treatment and cure of cancer, childhood language disorders, and other physical, emotional, and mental health issues affecting the youth.
Minnesota Masonic Charities also focuses on higher education by helping students pursue advanced degrees. In addition to these missions, the organization seeks to collect, preserve, and disseminate historical knowledge about Masonry in Minnesota. Lastly, it engages in, advances, supports, promotes, and administers charitable causes and projects that contribute to the support of corporations, trusts, associations, and foundations exempt from federal income taxes.
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Impact
October, 2024
Minnesota Masonic Charities Funds plays a vital role in supporting various initiatives aimed at improving the lives of individuals and communities, particularly those connected to the Masonic family. By managing and administering investments for its affiliates, it ensures financial stability and the ability to fulfill important charitable missions.
The organization primarily aids those in need, focusing on financial assistance to non-profit entities that provide nursing care and housing for the elderly, as well as facilities and programs that enhance community health, social services, and education for older adults. Importantly, it also promotes research and initiatives aimed at treating serious health issues, such as cancer, childhood language disorders, and mental health challenges.
Furthermore, Minnesota Masonic Charities Funds supports students' pursuit of higher education, helping to foster future generations. It also dedicates efforts to preserving and sharing the historical legacy of Masonry in Minnesota. Through these diverse activities, the organization not only assists individuals in specific need but also enriches community resources and strengthens the overall fabric of society, guided by the Masonic principles of brotherly love, relief, and truth.
This information is meant to be a general summary of Minnesota Masonic Charities Funds. 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: $15,444,836
- Gross Receipts: $48,198,286
Assets and Liabilities:
- Total Assets: $142,490,325
- Total Liabilities: $9,106,897
- Net Assets: $133,383,428
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Organization Details
Founding Year
1983
Phone
(952) 948-7000Principal Officer
Eric J Neetenbeek
Main Address
11501 MASONIC HOME DRIVE, BLOOMINGTON, MN, 55437
NTEE Category
Code: P110 - Human services
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