Overview
What is Owatonna Foundation Inc?
Owatonna Foundation Inc is a nonprofit based in Owatonna, Minnesota, with a postal address at PO Box 642. Its primary mission is to distribute financial grants to various 501(c)(3) organizations within the Steele County area. These funds are intended for purchasing equipment, making improvements, and contributing to initiatives that promote community betterment, education, health, literature, recreation, science, music, or culture for the local residents. Additionally, the foundation offers scholarships to high school students residing in the same region. With a team of three dedicated individuals, Owatonna Foundation Inc plays a significant role in supporting local non-profit agencies and fostering educational opportunities for the youth.
Official website here: www.owatonnafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
The Owatonna Foundation Inc has received an overall score of 81%, which corresponds to a Three-Star rating. This rating reflects strong performance in Accountability & Finance, indicating that the organization has a solid commitment to transparency and responsible financial management. The score is derived entirely from this single beacon, showcasing a focus on financial practices.
Strengths highlighted in the evaluation include a fully independent board with 23 members, which enhances governance quality. The foundation has achieved full marks in several categories such as financial statements and the absence of material diversion of assets. Additionally, the organization's financial health is underscored by a low liabilities to assets ratio of 0.74%, indicating sound financial stability.
However, there are some limitations noted in the assessment. While the foundation has comprehensive policies in place regarding conflicts of interest and document retention, it lacks a whistleblower policy. This absence may raise concerns regarding internal accountability and protection for employees reporting unethical behavior. Overall, the Owatonna Foundation Inc demonstrates strong accountability, but addressing the gaps in policies could further enhance its operational integrity.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Owatonna Foundation Inc?
86% of the six reviews on Facebook recommend the Owatonna Foundation Inc. Here's a summary of the feedback:
Many users appreciate the Owatonna Foundation's contributions to the community, specifically highlighting its support for local programs and organizations. One reviewer emphasized the foundation's role in providing spaces for events, which has allowed various community groups to flourish and host important activities.
The general sentiment indicates that the foundation plays a vital role in enhancing community engagement and supporting local initiatives, leaving patrons satisfied with its services and impact on the Owatonna area.
This AI summary has been generated from reviews found on Facebook.
Is Owatonna Foundation Inc legitimate?
Owatonna Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Owatonna 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $50,764
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,273
For more financial information, click here
Official website here: www.owatonnafoundation.org
What is the mission statement of Owatonna Foundation Inc?
The Owatonna Foundation Inc's mission is centered around providing financial assistance to non-profit organizations. specifically located in a certain county. These grants are utilized for the acquisition of property and equipment. Additionally, the foundation offers scholarships to local high school students. Beyond this, the foundation extends its support to other 501(c)(3) organizations, helping them purchase necessary equipment and make improvements within their communities, benefiting the residents in various sectors such as education, health, literature, recreation, science, music, and culture.
Official website here: www.owatonnafoundation.org
Who is the CEO of Owatonna Foundation Inc?
Thomas Dufresne is the President of Owatonna Foundation Inc.
Official website here: www.owatonnafoundation.org
What is the revenue of Owatonna Foundation Inc?
Owatonna Foundation Inc's revenue in 2022 was $562,340.
Official website here: www.owatonnafoundation.org
Who are the executives of Owatonna Foundation Inc and what are their salaries?
The average compensation at Owatonna Foundation Inc during 2022 was $20,346. There are 3 employees and 3 volunteers at Owatonna Foundation Inc.
Here are 25 key members and their salaries:
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Official website here: www.owatonnafoundation.org
Where can I find the form 990 for Owatonna Foundation Inc?
Owatonna Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.owatonnafoundation.org
Learn more at the official website: www.owatonnafoundation.org
Mission Statement of Owatonna Foundation Inc
The Owatonna Foundation Inc is committed to supporting various non-profit organizations within its community by providing financial grants. Its primary objective is to assist these agencies in acquiring necessary property and equipment. The foundation also extends its generosity to local high school students by offering scholarships. By doing so, the Owatonna Foundation Inc aims to contribute to the betterment of its community, supporting initiatives that fall under educational, health, literary, recreational, scientific, musical, or cultural categories, benefiting the residents of the Steele County area.
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Impact
July, 2024
Owatonna Foundation Inc's impact can be seen through its provision of money grants to non-profit agencies in Steele County, enabling them to acquire property and equipment. Additionally, the foundation offers scholarships to local high school students, contributing to the educational opportunities in the area. By directing funds towards community betterment, education, health, and other beneficial areas, Owatonna Foundation Inc plays a significant role in enhancing the quality of life for residents in the Steele County area.
This information is meant to be a general summary of Owatonna 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 2022.
- Investment Income: $29,251
- Gross Receipts: $3,178,002
Assets and Liabilities:
- Total Assets: $8,946,592
- Total Liabilities: $210,745
- Net Assets: $8,735,847
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Organization Details
Founding Year
1957
Phone
(507) 455-2995Principal Officer
Thomas Dufresne
Main Address
PO BOX 642, OWATONNA, MN, 55060
Website
www.owatonnafoundation.orgNTEE Category
Code: B82Z - Education
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