Overview
What is Fort Worth Colonial Charities Inc?
Fort Worth Colonial Charities Inc, based in Fort Worth, Texas, is a nonprofit organization that focuses on supporting local charitable organizations in Tarrant County. Their mission is to amplify the impact of these charities by leveraging the popularity of a PGA Tour event. Through direct grantmaking, they contribute to various initiatives aligned with each grantee's specific charitable mission, thereby strengthening the community in Tarrant County, Texas.
Official website here: www.not applicable
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, 69%). This rating indicates that Fort Worth Colonial Charities Inc has room for improvement in its accountability and financial practices. A score of 69% highlights some strengths but also significant gaps that could affect donor confidence.
The organization demonstrates strong governance attributes, including a fully independent board, indicating that there are no conflicts of interest among board members. Additionally, it has a high program expense ratio of 97.20%, suggesting that the majority of its funds are directed towards its charitable programs rather than administrative costs. However, the charity lacks essential policies, such as a conflict of interest and a whistleblower policy, which raises concerns about its transparency and operational integrity.
On the financial front, the charity has reported no material diversion of assets, which is a positive sign of financial health. However, the absence of financial statements and critical documentation on its website may hinder potential donors from evaluating the organization’s financial practices comprehensively. Overall, while Fort Worth Colonial Charities Inc has strengths in governance and program spending, it must address the significant areas of accountability and policy development to build greater trust with its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Fort Worth Colonial Charities Inc legitimate?
Fort Worth Colonial Charities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fort Worth Colonial Charities 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.
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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.not applicable
What is the mission statement of Fort Worth Colonial Charities Inc?
Fort Worth Colonial Charities Inc, as a philanthropic organization, offers an opportunity for other charitable organizations in Tarrant County, Texas, to leverage the visibility and impact of a PGA Tour event. This strategy aids in enhancing their grant-making capabilities. Fort Worth Colonial Charities, Inc., through direct grantmaking, supports local charities in Tarrant County, Texas, aligning with each respective grantee's charitable mission. The organization's primary objective is to amplify the reach and impact of various charitable initiatives in the region.
Official website here: www.not applicable
What is the revenue of Fort Worth Colonial Charities Inc?
Fort Worth Colonial Charities Inc's revenue in 2023 was $740,447.
Official website here: www.not applicable
Who are the executives of Fort Worth Colonial Charities Inc and what are their salaries?
Here are 3 key members and their salaries:
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Official website here: www.not applicable
Where can I find the form 990 for Fort Worth Colonial Charities Inc?
Fort Worth Colonial Charities Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.not applicable
Learn more at the official website: www.not applicable
Mission Statement of Fort Worth Colonial Charities Inc
Fort Worth Colonial Charities Inc, a charitable organization, provides an opportunity for other nonprofits in Tarrant County, Texas, to leverage the awareness and impact of a PGA Tour event for their own grant-making purposes. The primary mission of Fort Worth Colonial Charities Inc is to support local charities in Tarrant County by directly granting funds to organizations that align with their respective charitable missions. By utilizing the platform provided by the PGA Tour event, Fort Worth Colonial Charities Inc amplifies the reach and impact of the grants it awards, ultimately benefiting a wide range of charitable causes in the community.
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Impact
July, 2024
Fort Worth Colonial Charities Inc's impact is significant in supporting charitable organizations in Tarrant County, Texas. Through direct grantmaking, FWCC provides vital financial support to local charities in the area, helping them further their respective charitable missions. By leveraging the awareness and magnitude of a PGA TOUR event, FWCC enables other charitable organizations in Tarrant County to access additional resources for their grant-making activities. This strengthens the philanthropic ecosystem in the region and ultimately enhances the impact of charitable work in the community.
This information is meant to be a general summary of Fort Worth Colonial Charities 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 2023.
- Program Service Revenue: $37,500
- Gross Receipts: $1,007,973
Assets and Liabilities:
- Total Assets: $709,391
- Total Liabilities: $10,240
- Net Assets: $699,151
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPONSORSHIP INCOME
Revenue
$37,500
Organization Details
Founding Year
2013
Principal Officer
Robert Hood
Website
www.not applicableNTEE Category
Code: Z99 - Unknown
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