Overview
What is Farmers Family Fund?
Farmers Family Fund is a charitable organization primarily established by Farmers Insurance Group employees. Based in Woodland Hills, California, the fund's purpose is to provide financial aid to its employees and their families facing unforeseen hardships beyond their control. Employees contribute to this fund, and their donations are pooled together to offer relief grants. The fund's mission extends beyond its employees, as it also provides grants to other charitable organizations. The Farmers Family Fund aims to offer a helping hand to those facing unexpected financial struggles within the Farmers Insurance Group of Companies' workforce.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star Rating)
Farmers Family Fund has achieved a respectable Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The rating reflects a high score of 86% for Accountability & Finance, which is crucial for potential donors looking to understand the fund's operational integrity and financial management.
The charity demonstrates strong governance practices, with 100% of its board members being independent and a well-structured board size. Additionally, the organization has a perfect score in areas such as audited financial statements and the absence of any material diversion of assets. The program expense ratio is notably high at 93.40%, suggesting that a significant portion of its resources is directed towards its programs rather than administrative costs.
While the overall rating is positive, it's important for donors to consider that the rating is based solely on one aspect of the charity's operations. Future assessments may benefit from additional data points that evaluate program impact and community feedback. Nonetheless, the current financial metrics indicate a responsible management of funds and a commitment to transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Farmers Family Fund legitimate?
Farmers Family Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Farmers Family Fund 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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What is the mission statement of Farmers Family Fund?
The Farmers Family Fund's mission is centered around providing financial assistance to employees of companies within the Farmers Insurance Group and their families who have encountered unexpected financial hardships. The fund, primarily fueled by employee donations, aims to distribute relief grants to those in need. It also engages in other charitable activities, as permitted by other organizations. The donations made by employees are not restricted to any specific individual, ensuring a fair distribution of aid.
What is the revenue of Farmers Family Fund?
Farmers Family Fund's revenue in 2023 was $564,803.
Who are the executives of Farmers Family Fund and what are their salaries?
There 18 volunteers at Farmers Family Fund.
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Where can I find the form 990 for Farmers Family Fund?
Farmers Family Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Farmers Family Fund
The Farmers Family Fund, as a charitable organization, is committed to providing financial aid to the employees and families of companies within the Farmers Insurance Group who are experiencing unexpected hardships beyond their control. This fund is primarily sustained through donations made by Farmers employees, with the stipulation that these contributions cannot be earmarked for a specific individual. The primary objective of the Farmers Family Fund is to offer relief grants to those in need, extending a helping hand to employees and their families during their time of crisis. Additionally, the organization engages in various charitable activities, aligning with the mission statements of other similar organizations.
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Impact
July, 2024
Farmers Family Fund's impact is significant in providing financial assistance to Farmers employees and their families who are facing emergency hardships beyond their control. The fund allows employees to make donations that are then used to provide relief grants to their colleagues in need. This support helps alleviate sudden financial burdens and ensures that those facing difficulties receive the help they require. Additionally, the fund also provides grants to other charities, further extending its charitable reach in the community. Through these efforts, Farmers Family Fund makes a direct and positive impact on the lives of Farmers Insurance Group employees and their families during challenging times.
This information is meant to be a general summary of Farmers Family Fund. 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: $64,524
- Gross Receipts: $1,080,603
Assets and Liabilities:
- Total Assets: $2,031,515
- Total Liabilities: $4
- Net Assets: $2,031,511
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Organization Details
Founding Year
2011
Principal Officer
Michael Marquardt
NTEE Category
Code: P60 - Human services
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