Overview
What is Tom Tom Foundation?
The Tom Tom Foundation, stationed in Charlottesville, Virginia, is a nonprofit organization with a mission to champion innovation, creativity, and entrepreneurship in smaller American cities. They celebrate and empower the founding minds of creative, civic, and entrepreneurial projects. Despite the challenges posed by the COVID-19 pandemic, they suspended their annual in-person events in 2020 and 2021. However, in 2022, they returned with their 10th annual event in April, followed by year-round initiatives focusing on ideas and culture. The annual event attracted over 17,000 people and featured talks, competitions, concerts, and networking events. The foundation's additional programs, which ran throughout the year, engaged an additional 2,000 individuals, continuing to foster a culture and community in Charlottesville. The Tom Tom Foundation also receives non-cash donations, such as services, discounts, and space usage, from various business, educational, and government institutions.
Official website here: www.tomtomfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (70%, Two-Star out of Four Stars)
The Tom Tom Foundation has received a rating of 70% from Charity Navigator, indicating a need for improvement, particularly in its accountability and finance practices. While the organization boasts a high program expense ratio of nearly 90%, signifying that most of its funds go directly to its programs, areas such as its whistleblower policy and document retention policy are notably missing, which raises concerns about its governance practices.
On a positive note, the foundation excels in its culture and community engagement, achieving a perfect score of 100%. It has a fully independent board, with five members, and successfully collects and utilizes feedback from its stakeholders. This commitment to community input and transparency is a significant strength, suggesting that the foundation values the opinions of those it serves.
However, the noted challenges in collecting feedback, despite a perfect score, highlight potential areas for future focus. Addressing the missing policies related to governance could enhance the foundation's credibility and overall effectiveness, helping it to better align with best practices in nonprofit management.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Tom Tom Foundation?
96% of 27 reviewers on Facebook recommend the Tom Tom Foundation. Here’s a summary of their insights:
Many attendees expressed their appreciation for the Hometown Summit, describing it as a surprising success for a first-year event. Reviewers highlighted the meaningful connections they made and the rich discussions that took place, which fostered a sense of community among those passionate about improving small cities. The uplifting atmosphere and shared enthusiasm for future developments were particularly praised.
Overall, participants seem genuinely enthusiastic about the Foundation’s efforts and the impact of its events, showcasing the organization’s ability to bring people together and inspire action within local communities.
This AI summary has been generated from reviews found on Facebook.
Is Tom Tom Foundation legitimate?
Tom Tom Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tom Tom 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: $87,960
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.tomtomfoundation.org
What is the mission statement of Tom Tom Foundation?
The Tom Tom Foundation's mission is centered around celebrating and empowering the initiators of creative, civic, and entrepreneurial projects. The organization aims to foster innovation, creativity, and entrepreneurship in small cities across America. Additionally, it strives to promote public awareness of best practices that contribute to more prosperous and equitable urban environments. In practice, the foundation organizes events and initiatives to showcase ideas and culture, aiming to build a strong community. Despite the challenges posed by the COVID-19 pandemic, the Tom Tom Foundation managed to resume its activities in 2022, with a successful 10th annual festival and year-round initiatives. The foundation also received significant support from various institutions, including businesses, educational, and government organizations.
Official website here: www.tomtomfoundation.org
Who is the CEO of Tom Tom Foundation?
Richard Beyer is the Trustee of Tom Tom Foundation.
Official website here: www.tomtomfoundation.org
What is the revenue of Tom Tom Foundation?
Tom Tom Foundation's revenue in 2022 was $768,107.
Official website here: www.tomtomfoundation.org
Who are the executives of Tom Tom Foundation and what are their salaries?
The average compensation at Tom Tom Foundation during 2022 was $87,960. There is 1 employee and 15 volunteers at Tom Tom Foundation.
Here are 6 key members and their salaries:
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- Compensation: $87,960
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Official website here: www.tomtomfoundation.org
Where can I find the form 990 for Tom Tom Foundation?
Tom Tom Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tomtomfoundation.org
Learn more at the official website: www.tomtomfoundation.org
Mission Statement of Tom Tom Foundation
The Tom Tom Foundation, a notable organization, is committed to celebrating and empowering the pioneers of creative, civic, and entrepreneurial projects. Its mission extends beyond this, aiming to champion innovation, creativity, and entrepreneurship in America's smaller cities. The foundation seeks to raise public awareness of effective strategies that contribute to more prosperous and equitable urban environments.
In essence, the Tom Tom Foundation serves as an advocate for innovation and creativity in smaller cities, promoting best practices that can lead to a more vibrant and inclusive community. Its activities encompass various initiatives, including annual events and year-round programs, all aimed at fostering a strong sense of culture and community. The foundation's efforts are geared towards inspiring and supporting individuals who are driving change in their respective communities.
In the face of the COVID-19 pandemic, the Tom Tom Foundation adapted its approach, canceling its in-person events in 2020 and 2021. Despite these challenges, it continued to engage with its audience through virtual events, attracting over 17,000 participants to its annual festival in 2022. The foundation's initiatives not only drew additional attendees but also continued to emphasize the importance of building a strong cultural and communal fabric within the city. Its commitment to this mission was further underscored by its receipt of $124,750 in non-cash donations from various business, educational, and government institutions.
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Impact
July, 2024
The Tom Tom Foundation's impact can be seen in its efforts to celebrate and empower the founders of creative, civic, and entrepreneurial projects. Despite the challenges posed by the COVID-19 pandemic, the foundation adapted and continued its mission to promote innovation, creativity, and entrepreneurship in America's small cities. In 2022, the foundation's annual festival drew over 17,000 people for a week of talks, competitions, concerts, and networking events, showcasing the importance of building culture and community in Charlottesville. Additionally, the foundation's year-round initiatives have brought in an additional 2,000 participants, further highlighting best practices for prosperous and equitable cities. Through partnerships with businesses, educational institutions, and government entities, the Tom Tom Foundation received significant non-cash donations, totaling $124,750, in the form of services, discounts, and space use. Overall, the foundation's impact is evident in its commitment to fostering a vibrant and inclusive environment for creative and entrepreneurial endeavors, making a tangible difference in the city of Charlottesville.
This information is meant to be a general summary of Tom Tom 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: $70
- Program Service Revenue: $85,177
- Gross Receipts: $768,107
Assets and Liabilities:
- Total Assets: $694,434
- Total Liabilities: $464,101
- Net Assets: $230,333
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TOM TOM SUMMIT & FESTI
Revenue
$85,177
Organization Details
Founding Year
2013
Phone
(434) 981-7045Principal Officer
Richard Beyer
Main Address
100 W SOUTH STREET 1D, CHARLOTTESVILLE, VA, 22902
Website
www.tomtomfoundation.orgNTEE Category
Code: A23 - Arts
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