Overview
What is The Classic Mike Loyer Foundation?
The Classic Mike Loyer Foundation, based in Shelburne, Vermont, is a nonprofit organization that adheres to its mission of assisting Vermont families dealing with the untimely loss of a loved one. The foundation extends its support by addressing various expenses, including burial, medical, transportation, and living costs. Additionally, it provides financial aid to nonprofit organizations, enabling them to send disabled children to summer camps and offer food assistance during the holiday season. Furthermore, The Classic Mike Loyer Foundation offers Christmas gifts to disadvantaged children and families in need, demonstrating its commitment to supporting unique community needs, all in accordance with Mike Loyer's spirit.
Official website here: www.theclassicmikeloyer.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star Rating
The Classic Mike Loyer Foundation has received a solid rating of 83%, indicating a commendable level of accountability and financial management. The organization boasts a fully independent board, with 100% of its board members meeting independence standards, and has maintained a low liabilities to assets ratio of just 1.58%. These strengths suggest a well-governed organization that effectively utilizes its resources.
One of the foundation's notable strengths is its high program expense ratio of 75.23%, which indicates that a significant portion of its funds is directed towards its programs and mission. Additionally, the foundation demonstrates transparency by listing its website on its tax form and maintaining thorough documentation of board meeting minutes. However, the absence of a whistleblower policy and a document retention and destruction policy has been noted as a limitation, which could affect its operational integrity.
Overall, while The Classic Mike Loyer Foundation shows strong financial health and governance, there are areas for improvement regarding its policies to enhance accountability. Addressing these gaps could further strengthen the organization's trustworthiness in the eyes of donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Classic Mike Loyer Foundation legitimate?
The Classic Mike Loyer Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Classic Mike Loyer 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.
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Official website here: www.theclassicmikeloyer.org
What is the mission statement of The Classic Mike Loyer Foundation?
The Classic Mike Loyer Foundation's mission, in line with its spirit, is dedicated to aiding Vermont families who have endured the tragic loss of a loved one due to an accident. Furthermore, the organization seeks to address unique needs within the community. In practice, this has included providing financial assistance for end-of-life, burial, medical, transportation, and living expenses. Additionally, funds have been allocated to nonprofit organizations to enable disabled children to attend summer camp and to offer food assistance during the holiday season. Moreover, the foundation has distributed Christmas gifts to disadvantaged children and extended support to a victimized family.
Official website here: www.theclassicmikeloyer.org
Who is the CEO of The Classic Mike Loyer Foundation?
Thomas Loyer is the Chairman of The Classic Mike Loyer Foundation.
Official website here: www.theclassicmikeloyer.org
What is the revenue of The Classic Mike Loyer Foundation?
The Classic Mike Loyer Foundation's revenue in 2022 was $185,563.
Official website here: www.theclassicmikeloyer.org
Who are the executives of The Classic Mike Loyer Foundation and what are their salaries?
There 65 volunteers at The Classic Mike Loyer Foundation.
Here are 16 key members and their salaries:
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Official website here: www.theclassicmikeloyer.org
Where can I find the form 990 for The Classic Mike Loyer Foundation?
The Classic Mike Loyer Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.theclassicmikeloyer.org
Learn more at the official website: www.theclassicmikeloyer.org
Mission Statement of The Classic Mike Loyer Foundation
The Classic Mike Loyer Foundation, in honor of its namesake, is committed to a mission that resonates with Mike's spirit. This mission entails providing support to Vermont families who have experienced the accidental death of a loved one. Furthermore, the organization also aims to address unique needs within the community. In practice, this mission translates into offering assistance to families with a range of expenses, including end-of-life, burial, medical, transportation, and living expenses. Beyond this, The Classic Mike Loyer Foundation has also extended its support to nonprofit organizations. For instance, it has provided funds to enable disabled children to attend summer camp, and has offered food assistance to families during the holiday season. Additionally, the foundation has distributed Christmas gifts to disadvantaged children and a victimized family. Overall, The Classic Mike Loyer Foundation serves as a beacon of hope and support for Vermont families and the community at large, honoring Mike's spirit through its charitable endeavors.
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Impact
October, 2024
The Classic Mike Loyer Foundation has made a significant impact on the local community by providing essential support to Vermont families facing the tragedy of an accidental death. By assisting dozens of families with end-of-life, burial, medical, transportation, and living expenses, the foundation has alleviated financial burdens during some of the most difficult times in their lives.
Moreover, it has contributed to the well-being of the community by funding programs that send disabled children to summer camp, offering food assistance to families during the holiday season, and ensuring that children in need receive Christmas gifts. The foundation stands as a testament to community solidarity and support, honoring Mike Loyer's spirit by addressing unique needs and helping those who are vulnerable.
This information is meant to be a general summary of The Classic Mike Loyer 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: $154
- Gross Receipts: $293,985
Assets and Liabilities:
- Total Assets: $386,787
- Total Liabilities: $6,120
- Net Assets: $380,667
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Organization Details
Founding Year
2013
Phone
(802) 862-1197Principal Officer
Thomas Loyer
Main Address
PO Box 1060, Shelburne, VT, 05482
Website
www.theclassicmikeloyer.orgNTEE Category
Code: P12 - Human services
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