Overview
What is Ashland Legacy Trust?
Ashland Legacy Trust is a charitable and educational organization based in Ashland, Ohio. Its primary purpose is to support Ashland University, an institution of higher education offering undergraduate, graduate, and professional degree programs. The trust achieves this by functioning primarily as a grant-making organization, providing financial assistance to Ashland University to further its mission and endowment. The trust's activities are focused on charitable and educational endeavors, contributing to the growth and development of Ashland University.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-Star out of Four Stars (58%)
The Ashland Legacy Trust has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and transparency. The overall score is based solely on the Accountability & Finance beacon, where it achieved a score of 58%. The organization excels in areas such as having a fully independent board and maintaining a high program expense ratio, indicating that nearly all of its expenditures are directed towards its mission.
However, the rating highlights several critical deficiencies, particularly in financial transparency. The organization has not provided financial statements, which negatively impacts its score. Additionally, it lacks essential policies such as a whistleblower policy and document retention guidelines, which are crucial for accountability. The high liabilities to assets ratio (644.57%) also raises concerns about the organization's financial health and sustainability.
Despite these limitations, the Ashland Legacy Trust's commitment to directing nearly all of its expenses towards its programs is a positive aspect of its operations. The independent governance structure is reassuring, but potential donors and stakeholders may want to seek more clarity on financial reporting and policies before engaging further with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Ashland Legacy Trust legitimate?
Ashland Legacy Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ashland Legacy 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
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What is the mission statement of Ashland Legacy Trust?
The Ashland Legacy Trust is committed to engaging in charitable and educational activities, primarily serving as a grant-making organization. Its primary objective is to support the mission and endowment of Ashland University, an institution of higher education offering undergraduate, graduate, and professional degree programs. The Trust aims to further its exempt purpose by providing funds to Ashland University. This support is geared towards enhancing the university's capabilities and contributing to its overall growth and development.
Who is the CEO of Ashland Legacy Trust?
Lisa Armstrong is the Trustee of Ashland Legacy Trust.
What is the revenue of Ashland Legacy Trust?
Ashland Legacy Trust's revenue in 2022 was $1,147,355.
Who are the executives of Ashland Legacy Trust and what are their salaries?
There 4 volunteers at Ashland Legacy Trust.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Ashland Legacy Trust?
Ashland Legacy Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ashland Legacy Trust
The Ashland Legacy Trust, a charitable and educational organization, is dedicated to supporting the mission and endowment of Ashland University. This esteemed institution of higher education offers a wide range of undergraduate, graduate, and professional degree programs. The trust primarily operates as a grant-making organization, channeling funds to Ashland University to further its exempt purpose. By doing so, the Ashland Legacy Trust plays a significant role in advancing the educational endeavors of Ashland University.
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Impact
July, 2024
Ashland Legacy Trust's impact is focused on supporting the mission and endowment of Ashland University, an institution of higher education offering undergraduate, graduate, and professional degree programs. The Trust achieves its exempt purpose primarily by acting as a grant-making organization that provides funds to Ashland University. By engaging in charitable and educational activities, Ashland Legacy Trust plays a crucial role in advancing the mission and enhancing the resources available to Ashland University for the benefit of its students and academic programs.
This information is meant to be a general summary of Ashland Legacy 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.
- Program Service Revenue: $1,147,355
- Gross Receipts: $1,147,355
Assets and Liabilities:
- Total Assets: $3,909,984
- Total Liabilities: $25,202,721
- Net Assets: -$21,292,737
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LIFE INSURANCE PROCEEDS
Revenue
$1,147,355
Organization Details
Founding Year
2017
Phone
(419) 281-1040Principal Officer
Lisa Armstrong
Main Address
P O BOX 384, ASHLAND, OH, 44805
NTEE Category
Code: T99 - Philanthropy
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