Overview
What is Lenox Community Trust?
Lenox Community Trust is a nonprofit organization dedicated to serving its community by offering a platform for tax-deductible donations. These contributions support initiatives and projects that typically lack funding from public sources, including local town development, student scholarships, and enhancements for public spaces like a pocket park. Additionally, the trust manages unrealized losses on stock, further contributing to its community service efforts.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star Rating
Lenox Community Trust has received a commendable score of 80%, which translates to a Three-Star rating indicative of its accountability and financial health. The rating is entirely derived from its performance in the Accountability & Finance beacon, showcasing the organization's commitment to transparency and responsible management of its resources.
The organization excels in several key areas, including maintaining a fully independent board, which comprises seven members, and demonstrating no material diversion of assets. Additionally, it has a strong program expense ratio of 97.01%, reflecting its focus on delivering services effectively rather than on administrative costs. The presence of a conflict of interest policy and the documentation of board meeting minutes further highlight its commitment to ethical governance.
While the rating is strong, it is important for potential donors to consider the overall impact and effectiveness of the organization's programs beyond financial metrics. The high accountability score presents a solid foundation, but prospective supporters may wish to investigate the specific outcomes of the organization's initiatives to gauge their broader community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Lenox Community Trust legitimate?
Lenox Community Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lenox Community Trust 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 Lenox Community Trust?
The Lenox Community Trust serves the community by providing a platform for tax-deductible donations, supporting projects that typically lack funding from public sources. This includes initiatives for the town, students, and various other projects. The organization offers grants to high school seniors, funds town projects, contributes towards promoting a local pocket park, and assists the local golf course. Furthermore, the trust manages unrealized losses on stock as part of its community service activities.
Who is the CEO of Lenox Community Trust?
Jake Samo is the Trustee of Lenox Community Trust.
What is the revenue of Lenox Community Trust?
Lenox Community Trust's revenue in 2022 was $71,921.
Who are the executives of Lenox Community Trust and what are their salaries?
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Lenox Community Trust?
Lenox Community Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lenox Community Trust
The Lenox Community Trust is committed to serving the community by offering a platform for tax-deductible donations, supporting initiatives that often go unfunded by public sources. This nonprofit organization plays a crucial role in aiding the town, its students, and various projects in need of financial assistance. Through its mission, Lenox Community Trust provides grants to high school seniors, funds town projects, and contributes to promoting a local pocket park and the golf course. Furthermore, the trust manages unrealized losses on stock, demonstrating its dedication to fostering community growth and development.
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Impact
August, 2024
Lenox Community Trust's impact is significant in supporting the town of Lenox, Iowa, its students, and various projects that may not receive funding from public sources. By providing a platform for tax-deductible donations, the trust enables individuals to contribute to the community in meaningful ways. This includes offering grants to high school seniors, supporting town projects, promoting a pocket park, and assisting the local golf course. Moreover, the trust manages unrealized stock losses, further increasing its impact in facilitating community service and philanthropy in Lenox.
This information is meant to be a general summary of Lenox Community Trust. 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: $21,400
- Gross Receipts: $71,921
Assets and Liabilities:
- Total Assets: $722,804
- Total Liabilities: $0
- Net Assets: $722,804
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Organization Details
Founding Year
1975
Principal Officer
Jake Samo
Main Address
117 NORTH MAIN, LENOX, IA, 50851
NTEE Category
Code: T31 - Philanthropy
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