Overview
What is Wayne Community Foundation?
Wayne Community Foundation is a charitable organization situated in Wayne County, Iowa. Established with a mission to serve the community's educational, charitable, literary, and scientific needs, the foundation receives, invests, and distributes funds, property, and gifts for the betterment of Wayne County, Iowa. It has been instrumental in providing scholarships and grants to support various initiatives within the local community. The foundation operates on the principle of investing in the growth and development of its community by disbursing funds and resources to eligible projects and programs.
Official website here: www.waynecommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement)
The Wayne Community Foundation has received a rating of 65%, indicating significant room for improvement in its accountability and financial practices. The organization scored particularly low on governance, with no independent board members and several missing policies that are critical for transparency and ethical management. However, it is noteworthy that there have been no material diversions of assets, reflecting some level of financial integrity.
Strengths of the foundation include a strong program expense ratio and a favorable working capital ratio, suggesting effective use of funds towards its mission. Additionally, the foundation has demonstrated efficiency in fundraising with no costs, which could be indicative of strong community support or operational effectiveness. However, the lack of financial statements and board meeting documentation raises concerns about oversight and transparency.
Overall, while the foundation shows potential in certain areas, there are significant gaps in governance and financial reporting that need to be addressed. Stakeholders may want to advocate for improvements in board independence and the establishment of necessary policies to enhance the organization's accountability and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Wayne Community Foundation legitimate?
Wayne Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wayne 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.waynecommunityfoundation.org
What is the mission statement of Wayne Community Foundation?
The Wayne Community Foundation is established for educational, charitable, literary, or scientific purposes. Its primary objective is to receive, invest, and disburse funds, property, and gifts for the betterment of the Wayne County, Iowa community. The foundation actively provides scholarships and grants to support various initiatives within the community. Essentially, the mission of Wayne Community Foundation is to contribute to the welfare and development of its local community through educational, charitable, and philanthropic endeavors.
Official website here: www.waynecommunityfoundation.org
Who is the CEO of Wayne Community Foundation?
Bonita Wells is the President of Wayne Community Foundation.
Official website here: www.waynecommunityfoundation.org
What is the revenue of Wayne Community Foundation?
Wayne Community Foundation's revenue in 2021 was $2,588,966.
Official website here: www.waynecommunityfoundation.org
Who are the executives of Wayne Community Foundation and what are their salaries?
Here are 15 key members and their salaries:
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Official website here: www.waynecommunityfoundation.org
Where can I find the form 990 for Wayne Community Foundation?
Wayne Community Foundation's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.waynecommunityfoundation.org
Learn more at the official website: www.waynecommunityfoundation.org
Mission Statement of Wayne Community Foundation
The Wayne Community Foundation is a nonprofit organization with a mission dedicated to serving the educational, charitable, literary, and scientific needs of its community in Wayne County, Iowa. This mission is fulfilled by the receipt, investment, and disbursement of funds, property, and gifts of any kind, all aimed at benefiting the local community. Through this mission, the foundation provides scholarships and grants to support various initiatives and projects that contribute to the betterment of the Wayne County community.
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Impact
July, 2024
Wayne Community Foundation's impact is felt directly in the Wayne County Iowa community through the provision of scholarships and grants. These educational and charitable contributions benefit individuals and organizations within the local area, fostering growth and development. The Foundation's philanthropic efforts play a crucial role in supporting the community's needs and furthering its educational, literary, and scientific endeavors.
This information is meant to be a general summary of Wayne 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 2021.
- Investment Income: $564,998
- Program Service Revenue: $3,463
- Gross Receipts: $2,588,966
Assets and Liabilities:
- Total Assets: $3,275,611
- Total Liabilities: $700
- Net Assets: $3,274,911
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET ADMINISTRATION FEES
Revenue
$3,463
Organization Details
Phone
(515) 205-0144Principal Officer
Bonita Wells
Main Address
PO BOX 82, CORYDON, IA, 50060
NTEE Category
Code: T31 - Philanthropy
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