Overview
What is Luverne Area Community Foundation?
The Luverne Area Community Foundation is a publicly supported community foundation located in Luverne, Minnesota. With a population of around 10,000, this service area benefits from the foundation's primary activity of grant making. In 2021, the majority of grants were competitively awarded to various organizations, many of which sought to address pressing needs and opportunities within the community. Over 30 charitable organizations received support from the foundation, encompassing areas such as the arts and humanities, community development, education, health and wellness, human services, religion, and youth. The foundation also manages designated and agency endowments, providing annual distributions to eligible organizations. With a small team of three individuals, Luverne Area Community Foundation plays a significant role in enhancing the quality of life in Rock County, Minnesota.
Official website here: www.luvacf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star rating)
The Luverne Area Community Foundation holds a strong Four-Star rating from Charity Navigator, reflecting its robust accountability and financial practices. Scoring 100% in key areas such as board independence and financial oversight indicates a commitment to transparency and effective governance. The foundation's financial health is also notable, with a very low liability-to-assets ratio and high program expense ratio, suggesting that the majority of its resources are directed towards its mission.
Strengths of the organization include an independent board entirely composed of qualified members, a comprehensive audit and oversight committee, and well-documented policies including conflict of interest and whistleblower protections. The foundation has shown exceptional efficiency in fundraising, with a minimal cost to raise funds, which allows for more resources to be allocated directly to its programs.
Despite these strengths, like any nonprofit, it is crucial for the foundation to remain vigilant in maintaining its high standards of governance and financial management as it grows. Continued transparency and community engagement will help sustain its positive reputation and effectiveness in serving the Luverne area.
This AI summary has been generated from information found on Charity Navigator.
Is Luverne Area Community Foundation legitimate?
Luverne Area Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Luverne 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $60,147
For more financial information, click here
Official website here: www.luvacf.org
What is the mission statement of Luverne Area Community Foundation?
The Luverne Area Community Foundation serves as a publicly supported organization that collects, manages, and distributes charitable contributions and grants within its primary service area, which has a population of approximately 10,000 people. Dedicated to improving the quality of life in its community, the foundation primarily engages in grant-making activities. In 2021, the majority of the grants awarded were competitively given to organizations aiming to address pressing needs and opportunities within the service area. Over 30 charitable organizations received support from the Luverne Area Community Foundation, with various sectors such as arts and humanities, community development, education, health and wellness, human services, religion, and youth benefiting from their contributions. Organizations are also eligible for annual distributions from designated/agency endowments.
Official website here: www.luvacf.org
Who is the CEO of Luverne Area Community Foundation?
Isaac Deboer is the President of Luverne Area Community Foundation.
Official website here: www.luvacf.org
What is the revenue of Luverne Area Community Foundation?
Luverne Area Community Foundation's revenue in 2022 was $2,158,225.
Official website here: www.luvacf.org
Who are the executives of Luverne Area Community Foundation and what are their salaries?
The average compensation at Luverne Area Community Foundation during 2022 was $20,049. There are 3 employees at Luverne Area Community Foundation.
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Official website here: www.luvacf.org
Where can I find the form 990 for Luverne Area Community Foundation?
Luverne Area Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.luvacf.org
Learn more at the official website: www.luvacf.org
Mission Statement of Luverne Area Community Foundation
Luverne Area Community Foundation, a publicly supported organization, is dedicated to attracting, managing, and distributing charitable contributions and grants within its primary service area, Rock County, Minnesota. With a population of approximately 10,000, this community foundation serves as a vital resource for improving the quality of life in the area. The Luverne Area Community Foundation's primary activity is grant making, with the majority of grants competitively awarded to organizations that aim to address pressing needs and opportunities within the service area. In 2021, over 30 charitable organizations received support from the Luverne Area Community Foundation, with funding allocated to various sectors including arts and humanities, community development, education, health and wellness, human services, religion, and youth. The foundation also supports organizations through designated/agency endowments, providing annual distributions to eligible organizations.
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Impact
July, 2024
The Luverne Area Community Foundation's impact can be seen through its grant-making activities aimed at improving the quality of life in Rock County, Minnesota. In 2021, the foundation awarded grants to over 30 charitable organizations across various areas such as the arts, community development, education, health, human services, religion, and youth. These grants were competitively awarded to address pressing needs and opportunities in the community. Additionally, some organizations are eligible for annual distributions from designated or agency endowments managed by the foundation. Through these efforts, the Luverne Area Community Foundation plays a significant role in supporting the well-being and development of the local community in Rock County.
This information is meant to be a general summary of Luverne 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: $196,076
- Gross Receipts: $3,676,160
Assets and Liabilities:
- Total Assets: $5,653,711
- Total Liabilities: $371,194
- Net Assets: $5,282,517
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Organization Details
Founding Year
1992
Phone
(507) 220-2424Principal Officer
Isaac Deboer
Main Address
PO BOX 623, LUVERNE, MN, 561560623
Website
www.luvacf.orgNTEE Category
Code: T31 - Philanthropy
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