Overview
What is Waite Hill Village Foundation?
The Waite Hill Village Foundation is a nonprofit organization, established with the aim of collecting funds from both local residents and interested non-residents of Waite Hill, Ohio for the betterment of the village. These contributions are made on a tax-deductible basis, and the funds raised are managed by the foundation, which then allocates them as needed for various village projects. The investment income derived from these funds can be utilized for day-to-day village operations, while funds withdrawn from the principal are earmarked for long-term capital improvements. Additionally, the foundation ensures that the village does not lose out on financial aid by not being considered an available resource for the village to qualify for certain financial assistance. The foundation adheres to specific investment restrictions applicable to municipalities and villages in Ohio.
Is Waite Hill Village Foundation legitimate?
Waite Hill Village Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waite Hill Village 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: $0
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What is the mission statement of Waite Hill Village Foundation?
The Waite Hill Village Foundation aims to collect donations from both local residents and interested non-residents, who contribute on a tax-deductible basis. However, the foundation does not grant the village unlimited control over the funds immediately. Instead, the foundation allocates funds as necessary for various village projects. The investment income may be utilized for daily village operations, but funds withdrawn from the principal are intended for long-term capital improvements. Notably, if the village qualifies for Ohio or federal aid, the foundation would not be considered an available resource, enabling the village to secure certain financial assistance. Additionally, there are specific restrictions on municipalities and villages in Ohio regarding the investment of their funds. This fund would not serve as an investment by the municipality.
Who is the CEO of Waite Hill Village Foundation?
Ralph R Lustri is the Director of Waite Hill Village Foundation.
What is the revenue of Waite Hill Village Foundation?
Waite Hill Village Foundation's revenue in 2022 was $56,193.
Who are the executives of Waite Hill Village Foundation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Waite Hill Village Foundation?
Waite Hill Village Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Waite Hill Village Foundation
The Waite Hill Village Foundation is established with the purpose of soliciting contributions from both local residents and interested non-residents, aiming to fund various projects within the village. Notably, the donors do not grant the village unlimited control over the funds. Instead, the foundation serves as an intermediary, allocating funds as needed for various village projects. The investment income can be utilized for daily village operations, but any funds withdrawn from the principal are intended for long-term capital improvements within the village. Furthermore, the foundation ensures that if the village qualifies for Ohio or federal aid, it will not be considered an available resource, enabling the village to secure certain financial assistance. Additionally, there are specific restrictions on municipalities and villages in Ohio regarding the investment of their funds. Consequently, this fund does not represent an investment by the municipality.
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Impact
October, 2024
Waite Hill Village Foundation significantly impacts the community by providing financial support for essential projects and operations within Waite Hill Village. Through contributions from both residents and interested non-residents, the Foundation allocates funds specifically for various village needs, ensuring that financial resources are directed where they are most required.
This structured approach allows for the prudent management of funds, with investment income utilized for day-to-day operations and principal funds reserved for long-term capital improvements. By prioritizing strategic use of resources, the Foundation helps address village deficits and enhances infrastructure, fostering a thriving community environment.
Moreover, the Foundation's funding model preserves the village's eligibility for Ohio or federal aid, thereby maximizing available financial assistance while ensuring that the contributions are directed toward sustainable projects. This alignment not only supports immediate operational needs but also lays the groundwork for future growth and development, ultimately enriching the quality of life in Waite Hill.
This information is meant to be a general summary of Waite Hill Village 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: $8,165
- Gross Receipts: $362,631
Assets and Liabilities:
- Total Assets: $867,283
- Total Liabilities: $0
- Net Assets: $867,283
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Organization Details
Founding Year
2015
Phone
(216) 737-7383Principal Officer
Ralph R Lustri
Main Address
7555 EAGLE MILLS ROAD, WAITE HILL, OH, 44094
NTEE Category
Code: T30 - Philanthropy
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