Overview
What is Friends Of The Oval Foundation Inc?
Friends of the Oval Foundation Inc is a nonprofit organization located in Roseville, Minnesota, with an address at 2661 Civic Center Drive. Its primary mission is to support and ensure the year-round utilization of the Guidant John Rose Minnesota Oval, encouraging various activities such as speed skating, bandy, inline skating, figure skating, and hockey. The foundation aims to accomplish this by soliciting, managing, and spending funds for these purposes, as permitted by law. The ultimate goal is to maintain the facility's financial viability and promote its widespread use.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
Friends Of The Oval Foundation Inc has demonstrated strong accountability and financial health, achieving an impressive score of 87%. This rating indicates that the organization is effectively managing its resources and maintaining transparency in its operations. The foundation boasts a fully independent board, with 100% of its 12 members independent, which enhances its governance structure and decision-making processes.
The organization has also shown a commitment to best practices, having established key policies such as a conflict of interest policy and a whistleblower policy. Additionally, Friends Of The Oval Foundation demonstrates excellent financial management, with a program expense ratio of 92.80%, signifying that a substantial majority of its funds are directed towards programs rather than administrative costs.
While the foundation has achieved a commendable rating, it is essential for potential supporters to recognize that a Three-Star rating suggests there is still room for improvement. Overall, Friends Of The Oval Foundation Inc is a well-managed nonprofit that prioritizes accountability and effective use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The Oval Foundation Inc legitimate?
Friends Of The Oval Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Oval 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.
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What is the mission statement of Friends Of The Oval Foundation Inc?
Friends of the Oval Foundation's mission is centered around supporting the development and financial sustainability of a multi-purpose facility, known as the Guidant John Rose Minnesota Oval. The primary objective is to encourage its year-round use, inviting various interested individuals to engage in a range of activities, such as speed skating, bandy, inline skating, figure skating, and hockey. The foundation also undertakes the task of soliciting, managing, and utilizing funds for these purposes, engaging in any legal actions necessary to achieve these goals.
Who is the CEO of Friends Of The Oval Foundation Inc?
Peter Engebretson is the President of Friends Of The Oval Foundation Inc.
What is the revenue of Friends Of The Oval Foundation Inc?
Friends Of The Oval Foundation Inc's revenue in 2023 was $26,891.
Who are the executives of Friends Of The Oval Foundation Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Friends Of The Oval Foundation Inc?
Friends Of The Oval Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Friends Of The Oval Foundation Inc
Friends of the Oval Foundation, a nonprofit organization, was established with the primary objective of supporting the development and financial sustainability of the Guidant John Rose Minnesota Oval. The mission of this foundation is multifaceted. Its primary goal is to promote the year-round utilization of the oval, making it accessible to a wide range of interested individuals. This includes encouraging participation in various activities such as speed skating, bandy, inline skating, figure skating, and hockey.
Moreover, Friends of the Oval Foundation is tasked with soliciting, receiving, holding, and spending funds for these purposes. They are authorized to undertake any legal actions necessary to achieve these objectives. Essentially, the foundation's mission revolves around promoting the oval's use and ensuring its financial viability, thereby facilitating a diverse array of activities for the enjoyment of the public.
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Impact
August, 2024
Friends Of The Oval Foundation Inc plays a vital role in supporting the development and financial sustainability of the Guidant John Rose Minnesota Oval. Their mission is to promote year-round usage of the facility for activities such as speed skating, bandy, inline skating, figure skating, and hockey. By soliciting and managing funds for these purposes, the organization fosters community engagement and participation in various recreational pursuits at the Oval. This directly contributes to the enrichment of the Roseville community and encourages individuals of all ages to stay active and involved in recreational activities.
This information is meant to be a general summary of Friends Of The Oval 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 2023.
- Investment Income: $20,211
- Gross Receipts: $40,771
Assets and Liabilities:
- Total Assets: $873,992
- Total Liabilities: $0
- Net Assets: $873,992
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Organization Details
Founding Year
1993
Phone
(651) 442-6114Principal Officer
Peter Engebretson
Main Address
2661 Civic Center Drive, Roseville, MN, 55113
NTEE Category
Code: N60Z - Recreation
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