Overview
What is Bloomington Community Foundation?
The Bloomington Community Foundation is a philanthropic institution situated in Bloomington, Minnesota. Governed by a board of private citizens who are knowledgeable about the community, this organization serves as a public representative, administering individual funds contributed or bequeathed by various entities within the Bloomington area. During the recent fiscal year, the Bloomington Community Foundation has made significant charitable contributions to numerous organizations based in Bloomington and its surrounding regions, furthering their noble causes. As a charitable entity, its mission includes supporting the community through these funds, thereby contributing to the betterment of the local populace.
Official website here: www.bloomingtonfoundation-mn.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
The Bloomington Community Foundation has received a Three-Star rating from Charity Navigator, reflecting a solid performance in Accountability & Finance with a score of 76%. This rating is significant as it indicates that the nonprofit has a strong focus on fiscal responsibility, particularly in its program expenses, with 94.61% of its expenditures directed towards programs.
The organization demonstrates commendable governance practices, including a fully independent board with 11 members and no reported material diversion of assets. These aspects contribute positively to its overall accountability score. However, the foundation has limitations, as it lacks key policies related to conflict of interest, whistleblower protections, and document retention, all of which are crucial for transparency and ethical governance.
Overall, while the Bloomington Community Foundation showcases impressive financial management and an independent board structure, there is room for improvement in its governance policies. Addressing these gaps could enhance its overall accountability and strengthen stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is Bloomington Community Foundation legitimate?
Bloomington Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bloomington 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:
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For more financial information, click here
Official website here: www.bloomingtonfoundation-mn.org
What is the mission statement of Bloomington Community Foundation?
The Bloomington Community Foundation serves as a publicly supported philanthropic institution, governed by a board of private citizens representing the public interest and their knowledge of the community. Their mission involves administering individual funds, contributed or bequeathed to the foundation, by individuals, families, agencies, corporations, and other organizations. The foundation aims to utilize these funds to support various initiatives and programs within the community, contributing to its betterment and well-being. The Bloomington Community Foundation acts as a bridge between donors and the community, ensuring that the donated funds are used effectively to address the community's needs.
Official website here: www.bloomingtonfoundation-mn.org
Who is the CEO of Bloomington Community Foundation?
Gilbert Williams is the Director of Bloomington Community Foundation.
Official website here: www.bloomingtonfoundation-mn.org
What is the revenue of Bloomington Community Foundation?
Bloomington Community Foundation's revenue in 2023 was $29,248.
Official website here: www.bloomingtonfoundation-mn.org
Who are the executives of Bloomington Community Foundation and what are their salaries?
Here are 11 key members and their salaries:
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Official website here: www.bloomingtonfoundation-mn.org
Where can I find the form 990 for Bloomington Community Foundation?
Bloomington Community Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.bloomingtonfoundation-mn.org
Learn more at the official website: www.bloomingtonfoundation-mn.org
Mission Statement of Bloomington Community Foundation
The Bloomington Community Foundation serves as a publicly supported philanthropic institution, governed by a board of private citizens who are chosen for their knowledge of the community and representation of the public interest. This organization administers individual funds that have been contributed or bequeathed to it by various entities, such as individuals, families, other agencies, corporations, and other organizations, within the Bloomington, Minnesota area. The mission of the Bloomington Community Foundation is to utilize these funds to support charitable causes and initiatives that benefit the community it serves. The foundation acts as a steward of these funds, ensuring they are distributed thoughtfully and effectively to address the most pressing needs and opportunities in the Bloomington area.
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Impact
August, 2024
The Bloomington Community Foundation's impact can be seen through its contributions to various organizations located in Bloomington, Minnesota, and surrounding areas. Through individual funds contributed or bequeathed to the foundation by individuals, families, agencies, corporations, and other organizations, the foundation supports charitable purposes within the community. The foundation, governed by a board of private citizens chosen for their knowledge of the community, plays a vital role in furthering philanthropic efforts in Bloomington and making a positive difference in the area.
This information is meant to be a general summary of Bloomington 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 2023.
- Investment Income: $15,748
- Gross Receipts: $29,248
Assets and Liabilities:
- Total Assets: $460,314
- Total Liabilities: $0
- Net Assets: $460,314
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Organization Details
Founding Year
1989
Phone
(952) 829-5328Principal Officer
Gilbert Williams
Main Address
405 EAST 78TH STREET, BLOOMINGTON, MN, 554201251
NTEE Category
Code: T31 - Philanthropy
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