Overview
What is Word Of Life Foundation Inc?
Word of Life Foundation Inc, based in Schroon Lake, New York, functions as a supporting organization for the religious, charitable, and educational initiatives of Word of Life Fellowship Inc. The Foundation manages and distributes funds to further the causes of Word of Life Fellowship and other tax-exempt organizations aligned with its mission. The Foundation's actions are overseen by Word of Life to ensure consistency with its mission, vision, values, and purposes.
Official website here: www.wol.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97% (Four-Star out of Four Star rating)
Word Of Life Foundation Inc has achieved a notable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance with a score of 97%. This high rating is a testament to the organization’s commitment to transparency and responsible management of its resources, ensuring that the majority of funds are allocated directly to its programs.
The foundation exhibits a robust governance structure, featuring 55% independent board members, which enhances its accountability. Key policies such as conflict of interest, whistleblower, and document retention are all in place and publicly listed, demonstrating a commitment to ethical practices. Furthermore, the organization has no reported material diversion of assets, which reinforces trust in its operational integrity.
A significant strength of Word Of Life Foundation Inc is its impressive program expense ratio of 99.26%, indicating that nearly all of its resources are directed towards fulfilling its mission. In addition, it maintains a perfect fundraising efficiency ratio, meaning it incurs no costs in fundraising, further showcasing its effective financial stewardship. Overall, the organization stands out for its dedication to high standards of accountability and effective program delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Word Of Life Foundation Inc legitimate?
Word Of Life Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Word Of Life 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.wol.org
What is the mission statement of Word Of Life Foundation Inc?
The Word of Life Foundation Inc is established to support and advance the religious, charitable, and educational causes of Word of Life Fellowship Inc. The Foundation manages donations and disperses funds to organizations aligned with the mission and purposes of Word of Life Fellowship Inc. It acts as a supplementary body, working in consonance with Word of Life Fellowship Inc to further their common objectives. The Foundation's role is to receive and distribute funds to various tax-exempt organizations that contribute to the advancement of Word of Life Fellowship Inc's endeavors.
Official website here: www.wol.org
Who is the CEO of Word Of Life Foundation Inc?
Nelson Benjamin J is the Director of Word Of Life Foundation Inc.
Official website here: www.wol.org
What is the revenue of Word Of Life Foundation Inc?
Word Of Life Foundation Inc's revenue in 2022 was $11,873,124.
Official website here: www.wol.org
Who are the executives of Word Of Life Foundation Inc and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $166,259
- Other: $23,804
- Compensation: $0
- Related: $101,862
- Other: $15,829
- Compensation: $0
- Related: $59,817
- Other: $7,560
- Compensation: $0
- Related: $23,081
- Other: $127
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.wol.org
Where can I find the form 990 for Word Of Life Foundation Inc?
Word Of Life Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wol.org
Learn more at the official website: www.wol.org
Mission Statement of Word Of Life Foundation Inc
Word of Life Foundation Inc is a charitable organization established to support and advance the religious, charitable, and educational pursuits of Word of Life Fellowship Inc. The Foundation acts as a partner in fulfilling the mission and vision of Word of Life by managing and distributing funds to further its causes. With a focus on tax-exempt organizations, the Foundation plays a crucial role in amplifying the reach and impact of Word of Life Fellowship Inc's initiatives.
In essence, the Word of Life Foundation Inc functions as a vital pillar in realizing the aspirations and goals of Word of Life Fellowship Inc. It does so by providing financial resources to both the fellowship and other tax-exempt organizations that share its values and objectives. By pooling and dispersing charitable contributions, the Foundation serves as a vital catalyst in the growth and success of its affiliated organizations.
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Impact
October, 2024
Word Of Life Foundation Inc plays a pivotal role in furthering the mission of Word of Life Fellowship, Inc. Through its focus on religious, charitable, and educational initiatives, the Foundation actively manages and distributes funds that support these goals. By receiving charitable contributions, it enables the advancement of various projects and programs aligned with Word of Life's vision.
The impact of the Foundation is felt in multiple communities, as it not only supports Word of Life Fellowship but also extends aid to other charitable organizations that share similar values and purposes. This collaboration amplifies the effectiveness of their efforts, creating a network of support that fosters spiritual growth, community engagement, and educational opportunities.
Located in Schroon Lake, NY, Word Of Life Foundation Inc is dedicated to ensuring that resources are effectively utilized to promote its mission. Its focus on religious outreach and community service enhances both individual lives and collective wellbeing, manifesting a commitment to fostering a supportive and nurturing environment. Through these endeavors, the Foundation contributes significantly to the overarching goals of Word of Life Fellowship and the broader community it serves.
This information is meant to be a general summary of Word Of Life 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: -$49,314
- Gross Receipts: $30,875,897
Assets and Liabilities:
- Total Assets: $19,665,070
- Total Liabilities: $0
- Net Assets: $19,665,070
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Organization Details
Founding Year
2012
Phone
(518) 494-6200Principal Officer
Nelson Benjamin J
Main Address
PO Box 600, Schroon Lake, NY, 12870
Website
www.wol.orgNTEE Category
Code: X111 - Religion related
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