Overview
What is The Michael E Thornton Foundation?
The Michael E Thornton Foundation, situated in Dallas, Texas, is a nonprofit organization with a commendable mission. Their primary focus lies in offering immediate financial aid to both active and non-active military personnel and their families who are in need. The foundation is dedicated to providing as much monetary and material support as possible, ensuring that these individuals do not face financial hardships. The organization's purpose is to alleviate financial burdens, thereby contributing positively to the well-being of military families.
Official website here: www.themetfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars
The Michael E Thornton Foundation has received a Zero-Star out of Four Star rating from Charity Navigator, reflecting significant concerns regarding its accountability and financial management practices. The overall score of 29% indicates that while the foundation has independent board members, it falls short in providing essential financial transparency and policies. Notably, the organization lacks key documents such as financial statements, a conflict of interest policy, a whistleblower policy, and a document retention policy.
Despite having an independent board structure, the foundation's financial health appears questionable, with a program expense ratio of only 24.71%. This low ratio suggests that a minimal portion of its expenses is directed toward its stated programs, raising concerns about the efficiency of its operations and the impact of its initiatives. Additionally, the liabilities to assets ratio stands at 4.25%, which could indicate financial risk.
The foundation does demonstrate some strengths, such as having 100% independent board members and maintaining records of board meeting minutes. However, the absence of critical financial and governance practices limits the trust that potential donors and stakeholders might have in the organization. Overall, the rating points to a need for the foundation to improve its transparency and accountability measures to better serve its mission and the community.
This AI summary has been generated from information found on Charity Navigator.
Is The Michael E Thornton Foundation legitimate?
The Michael E Thornton Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Michael E Thornton 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
For more financial information, click here
Official website here: www.themetfund.org
What is the mission statement of The Michael E Thornton Foundation?
The Michael E Thornton Foundation's mission is centered around providing immediate financial assistance to both active and non-active duty military personnel and their families in need. The organization strives to offer as much financial aid and necessary items as possible to these families at all times, demonstrating a strong commitment to supporting the military community during times of hardship.
Official website here: www.themetfund.org
Who is the CEO of The Michael E Thornton Foundation?
Michael Thornton is the President of The Michael E Thornton Foundation.
Official website here: www.themetfund.org
What is the revenue of The Michael E Thornton Foundation?
The Michael E Thornton Foundation's revenue in 2022 was $526,626.
Official website here: www.themetfund.org
Who are the executives of The Michael E Thornton Foundation and what are their salaries?
There 5 volunteers at The Michael E Thornton Foundation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $80,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.themetfund.org
Where can I find the form 990 for The Michael E Thornton Foundation?
The Michael E Thornton Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.themetfund.org
Learn more at the official website: www.themetfund.org
Mission Statement of The Michael E Thornton Foundation
The Michael E Thornton Foundation is dedicated to providing immediate financial assistance for both active and non-active duty military personnel and their families who find themselves in need. This nonprofit organization's mission is to extend as much monetary aid and essential items as possible to these families at all times. The foundation strives to alleviate their financial burdens, ensuring they receive the support they need during challenging times.
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Impact
July, 2024
The Michael E Thornton Foundation's impact is significant in providing immediate financial assistance to both active and non-active duty military and their families in need. They work tirelessly to ensure that military families facing hardships receive the financial support they require. Their dedication and commitment help alleviate the burdens faced by these individuals, highlighting the critical role they play in supporting the military community.
This information is meant to be a general summary of The Michael E Thornton 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.
- Gross Receipts: $526,626
Assets and Liabilities:
- Total Assets: $170,354
- Total Liabilities: $7,252
- Net Assets: $163,102
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Organization Details
Founding Year
2015
Phone
(214) 720-0696Principal Officer
Michael Thornton
Main Address
12770 MERIT DRIVE STE 124, DALLAS, TX, 75351
Website
www.themetfund.orgNTEE Category
Code: P60 - Human services
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