Overview
What is M3 Insurance Foundation Inc?
M3 Insurance Foundation Inc is a charitable organization established to foster the philanthropic spirit among the employees of M3 Solutions, Inc. Based in Madison, Wisconsin, the foundation primarily focuses on supporting local organizations that work in the fields of healthcare, safety improvement, catastrophic event relief, financial education and literacy, and career advancement in the insurance industry. Their mission is to make a positive impact in these areas, contributing to the betterment of their community.
Official website here: www.m3ins.com/m3-foundation/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91%, Four-Star out of Four Stars
M3 Insurance Foundation Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. The charity's overall score is a robust 91%, indicating a strong focus on transparency and responsible financial management. The rating is primarily based on a single beacon score, underscoring the charity's commitment to maintaining financial integrity and accountability.
Strengths highlighted include the foundation’s governance, with a fully independent board comprising nine members and an exemplary conflict of interest policy. Moreover, the organization shows no material diversion of assets, which points to effective oversight and management practices. The high program expense ratio of 95.68% suggests that a significant portion of its funding is directed toward its charitable activities, further demonstrating its commitment to mission effectiveness.
However, there are some areas for improvement, particularly regarding its liabilities to assets ratio, which stands at 57.93%. While this is not unusual for many nonprofits, it indicates that the organization may be operating with a considerable amount of debt relative to its assets. Overall, M3 Insurance Foundation Inc appears to be a well-managed organization with strong governance practices, though it may benefit from improving its financial stability.
This AI summary has been generated from information found on Charity Navigator.
Is M3 Insurance Foundation Inc legitimate?
M3 Insurance Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. M3 Insurance Foundation 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.
Heare are some key statistics you may want to consider:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.m3ins.com/m3-foundation/
What is the mission statement of M3 Insurance Foundation Inc?
The M3 Insurance Foundation Inc was established to foster charitable attitudes among the employees of M3 Solutions Inc. The foundation's focus is primarily on five key areas: healthcare, safety improvement, catastrophic event relief, financial education and literacy, and promoting careers in the insurance industry. In line with its mission, the foundation donates to local organizations that work in these areas. The goal is to contribute to these causes and encourage the growth of the insurance industry as a career option.
Official website here: www.m3ins.com/m3-foundation/
Who is the CEO of M3 Insurance Foundation Inc?
Beth Dettman is the Director of M3 Insurance Foundation Inc.
Official website here: www.m3ins.com/m3-foundation/
What is the revenue of M3 Insurance Foundation Inc?
M3 Insurance Foundation Inc's revenue in 2022 was $457,888.
Official website here: www.m3ins.com/m3-foundation/
Who are the executives of M3 Insurance Foundation Inc and what are their salaries?
There 9 volunteers at M3 Insurance Foundation Inc.
Here are 10 key members and their salaries:
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Official website here: www.m3ins.com/m3-foundation/
Where can I find the form 990 for M3 Insurance Foundation Inc?
M3 Insurance Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.m3ins.com/m3-foundation/
Learn more at the official website: www.m3ins.com/m3-foundation/
Mission Statement of M3 Insurance Foundation Inc
M3 Insurance Foundation Inc, established to encourage charitable attitudes among employees at M3 Solutions, Inc., focuses its mission on five key areas: healthcare, safety improvement, catastrophic event relief, financial education and literacy, and the promotion of careers in the insurance industry. The foundation's objectives are to support local organizations working in these sectors, aiming to make a positive impact in various communities. By donating to these organizations, M3 Insurance Foundation Inc seeks to contribute to the betterment of the healthcare system, enhance safety measures, provide aid during catastrophic events, promote financial literacy, and foster interest in the insurance industry.
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Impact
July, 2024
M3 Insurance Foundation Inc makes a significant impact by promoting charitable attitudes among employees at M3 Solutions, Inc. The foundation focuses on key areas such as healthcare, safety improvement, catastrophic event relief, financial education and literacy, and the promotion of careers in the insurance industry. Through donations to local organizations aligned with these causes, M3 Insurance Foundation is actively working to enhance the well-being of communities and support important initiatives in these critical areas.
This information is meant to be a general summary of M3 Insurance Foundation 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 2022.
- Investment Income: $3,319
- Gross Receipts: $496,882
Assets and Liabilities:
- Total Assets: $863,330
- Total Liabilities: $500,167
- Net Assets: $363,163
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Organization Details
Founding Year
2015
Phone
(800) 272-2443Principal Officer
Beth Dettman
Main Address
828 JOHN NOLEN DRIVE, MADISON, WI, 53713
Website
www.m3ins.com/m3-foundation/NTEE Category
Code: T21 - Philanthropy
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