Overview
What is Roanoke Cultural Endowment?
Roanoke Cultural Endowment is a nonprofit organization located in Roanoke, Virginia. Their primary mission is to foster a lasting legacy of stability, engagement, and vitality for arts and cultural organizations within the city. To achieve this, they are currently fundraising with a goal of securing $20 million. Through a strategic partnership with the City of Roanoke, this endowment aims to provide a sustainable revenue source for these cultural institutions, ultimately enriching the community. The organization has a small team of two dedicated individuals, working tirelessly to accomplish their goals.
Official website here: www.roanokeculturalendowment.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating
The Roanoke Cultural Endowment has received a low rating of 56%, indicating significant concerns regarding its financial transparency and efficiency. While it maintains strong governance structures, such as a fully independent board and effective oversight committee, the organization struggles in areas that are critical for financial health, particularly in its program expense ratio, which is noted as 0.00%. This suggests that the majority of its resources may not be directed towards its intended programs.
On the positive side, the organization excels in governance policies, having policies for conflict of interest, whistleblowing, and document retention, all of which are in place and functioning effectively. It also demonstrates strong practices in independence and accountability, with no material diversion of assets reported. These factors indicate that the organization is committed to maintaining ethical standards in its operations.
However, the most pressing concern is its financial performance, particularly the liabilities to assets ratio that stands at a very low 0.06%. Additionally, the lack of a posted tax form on its website further detracts from its transparency. These factors contribute to the overall low rating and suggest a need for improvement in financial management and programmatic spending.
This AI summary has been generated from information found on Charity Navigator.
Is Roanoke Cultural Endowment legitimate?
Roanoke Cultural Endowment is a legitimate nonprofit organization registered as a 501(c)(3) entity. Roanoke Cultural Endowment 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: $40,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,030
For more financial information, click here
Official website here: www.roanokeculturalendowment.org
What is the mission statement of Roanoke Cultural Endowment?
The Roanoke Cultural Endowment's mission is centered around cultivating a lasting impact for the arts and culture sector. This organization aims to foster stability, engagement, and vitality within this field through grant making. By establishing a strategic partnership with an unspecified city, the endowment seeks to provide a sustainable revenue source for various arts and cultural organizations. Currently, the organization is actively raising funds with the goal of securing $20 million, which will be utilized to support these organizations in the city.
Official website here: www.roanokeculturalendowment.org
Who is the CEO of Roanoke Cultural Endowment?
Shaleen Powell is the Executive Dir. of Roanoke Cultural Endowment.
Official website here: www.roanokeculturalendowment.org
What is the revenue of Roanoke Cultural Endowment?
Roanoke Cultural Endowment's revenue in 2022 was $1,052,972.
Official website here: www.roanokeculturalendowment.org
Who are the executives of Roanoke Cultural Endowment and what are their salaries?
The average compensation at Roanoke Cultural Endowment during 2022 was $21,015. There are 2 employees at Roanoke Cultural Endowment.
Here are 10 key members and their salaries:
- Compensation: $40,000
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.roanokeculturalendowment.org
Where can I find the form 990 for Roanoke Cultural Endowment?
Roanoke Cultural Endowment's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.roanokeculturalendowment.org
Learn more at the official website: www.roanokeculturalendowment.org
Mission Statement of Roanoke Cultural Endowment
The Roanoke Cultural Endowment, an organization dedicated to cultivating a lasting impact on arts and culture, aims to achieve stability, engagement, and vitality in this domain. They accomplish this mission through grant-making, establishing a strategic partnership with the city of Roanoke. This partnership serves to provide a sustainable revenue source for various arts and cultural organizations within the city. The Roanoke Cultural Endowment is currently working towards securing an impressive $20 million in funding, with the goal of offering support to these organizations and further enhancing the cultural landscape.
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Impact
July, 2024
Roanoke Cultural Endowment is making a significant impact in the city of Roanoke by cultivating a legacy of stability, engagement, and vitality for arts and culture through grant making. Through its strategic partnership with the city, the organization is working towards securing $20 million in funding to provide sustainable support to arts and cultural organizations in Roanoke. This initiative is essential for the growth and vibrancy of the arts community in the city, ensuring that cultural organizations have the resources they need to thrive and enrich the local community.
This information is meant to be a general summary of Roanoke Cultural Endowment. 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: $102,354
- Gross Receipts: $1,340,404
Assets and Liabilities:
- Total Assets: $4,507,686
- Total Liabilities: $3,006
- Net Assets: $4,504,680
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Organization Details
Founding Year
2015
Phone
(540) 588-7489Principal Officer
Shaleen Powell
Main Address
PO BOX 22, ROANOKE, VA, 24002
NTEE Category
Code: A12 - Arts
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