Overview
What is Watertown Area Community Foundation?
The Watertown Area Community Foundation serves as a vital contributor to Watertown's prosperity, focusing on community development, addressing human service needs, and boosting recreation, education, arts, and culture. By granting funds to suitable nonprofit organizations, it supports charitable, educational, and cultural initiatives within the Watertown community. The foundation's mission is to foster the town's growth and well-being, actively responding to the community's requirements.
Official website here: www.watertowncommunityfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star rating)
The Watertown Area Community Foundation has earned an impressive 95% score from Charity Navigator, primarily based on its strong accountability and finance practices. This high rating is indicative of the foundation's commitment to transparency and responsible financial management, which is crucial for maintaining donor trust and effective community impact.
The organization boasts a fully independent board and demonstrates exemplary governance with robust policies in place, including those for conflict of interest and whistleblowing. Additionally, the foundation's financial health is notable, with a low liability-to-asset ratio and efficient fundraising practices, which enhance its capacity to serve the community effectively.
While the program expense ratio is slightly below optimal at 66.54%, the foundation generally performs well in its financial metrics, suggesting a solid balance between administrative costs and direct program funding. Overall, the Watertown Area Community Foundation appears to be a well-managed organization with a strong focus on accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Watertown Area Community Foundation legitimate?
Watertown Area Community Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watertown Area 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $218,930
For more financial information, click here
Official website here: www.watertowncommunityfoundation.org
What is the mission statement of Watertown Area Community Foundation?
The Watertown Area Community Foundation focuses on strengthening its community by investing in key areas. Its mission involves supporting community priorities, addressing human service needs, and improving recreation, education, arts, and culture. To accomplish this, the foundation grants funds to various nonprofit organizations that contribute to charity, education, and cultural development within the community.
Official website here: www.watertowncommunityfoundation.org
Who is the CEO of Watertown Area Community Foundation?
Scott Olson is the Trustee of Watertown Area Community Foundation.
Official website here: www.watertowncommunityfoundation.org
What is the revenue of Watertown Area Community Foundation?
Watertown Area Community Foundation's revenue in 2022 was $3,535,499.
Official website here: www.watertowncommunityfoundation.org
Who are the executives of Watertown Area Community Foundation and what are their salaries?
The average compensation at Watertown Area Community Foundation during 2022 was $72,977. There are 3 employees at Watertown Area Community Foundation.
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Official website here: www.watertowncommunityfoundation.org
Where can I find the form 990 for Watertown Area Community Foundation?
Watertown Area Community Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.watertowncommunityfoundation.org
Learn more at the official website: www.watertowncommunityfoundation.org
Mission Statement of Watertown Area Community Foundation
The Watertown Area Community Foundation, as a philanthropic organization, plays a vital role in nurturing the community's future by focusing on key areas such as charity, education, and culture. Its mission is to bolster the vitality of Watertown by addressing community priorities, addressing human service needs, and fostering growth in recreation, education, arts, and culture. The foundation achieves this by providing financial support to various nonprofit organizations operating within the Watertown community, thereby contributing to the betterment of these sectors.
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Impact
July, 2024
The Watertown Area Community Foundation is making a significant impact in the community by investing in vital initiatives that support community priorities, respond to human service needs, and enhance various areas such as recreation, education, arts, and culture. Through awarding grants to nonprofit organizations that focus on charity, education, and culture in the Watertown community, the foundation is actively contributing to the overall growth and well-being of the area.
This information is meant to be a general summary of Watertown Area 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 2022.
- Investment Income: $1,304,732
- Program Service Revenue: $125,022
- Gross Receipts: $9,400,502
Assets and Liabilities:
- Total Assets: $30,092,700
- Total Liabilities: $11,395,546
- Net Assets: $18,697,154
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME FROM AGENCY FUND
Revenue
$109,361
RENT FROM REAL ESTATE
Revenue
$15,661
Organization Details
Founding Year
1979
Principal Officer
Scott Olson
Main Address
211 E KEMP AVE, WATERTOWN, SD, 57201
NTEE Category
Code: T31 - Philanthropy
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