Overview
What is Ottawa Library Endowment Fund Inc?
Ottawa Library Endowment Fund Inc is a nonprofit organization based in Ottawa, Kansas, with an address at 105 S Hickory St. Their primary mission is to manage funds derived from donations, wills, bequests, or gifts, as well as property entrusted to them. These funds are utilized to support the Ottawa Library, a public library in Ottawa, Kansas. Specifically, the funds are intended to acquire land, construct a new facility, and maintain the physical properties of the library. The organization's continuous management of these funds aims to ensure the library's long-term growth and preservation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40% (Zero-Star out of Four Star rating)
The Ottawa Library Endowment Fund Inc has received a low score of 40%, which translates to a Zero-Star rating. This rating is based solely on its Accountability & Finance metrics, highlighting significant concerns regarding the organization's financial practices, particularly in the area of program expenses which are reported at 0.00%. This raises questions about the charity's effectiveness in utilizing its funds for intended programs.
Positive aspects include a fully independent board, with 100% of its members meeting this criterion. The organization also receives full marks for having a conflict of interest policy in place and for documenting board meeting minutes. These governance strengths suggest a commitment to transparency and ethical oversight.
However, the charity's significant shortcomings, especially the lack of program expenses and an unfavorable liabilities to assets ratio, indicate potential weaknesses in operational effectiveness. Despite its governance strengths, without proper allocation of funds to programs, the Ottawa Library Endowment Fund Inc may struggle to fulfill its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Ottawa Library Endowment Fund Inc legitimate?
Ottawa Library Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ottawa Library Endowment Fund 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Ottawa Library Endowment Fund Inc?
The Ottawa Library Endowment Fund Inc's mission is centered around managing funds derived from donors, wills, bequests, or gifts and property entrusted to them. This mission primarily serves to support a public library in Ottawa, Kansas. The organization's primary role is to oversee a fund that can be utilized for various purposes such as acquiring land, constructing a new facility, and maintaining the physical properties of the library. By doing so, the Ottawa Library Endowment Fund Inc plays a crucial role in preserving and enhancing the library's infrastructure.
Who is the CEO of Ottawa Library Endowment Fund Inc?
Tom Shrimplin is the Secretary of Ottawa Library Endowment Fund Inc.
What is the revenue of Ottawa Library Endowment Fund Inc?
Ottawa Library Endowment Fund Inc's revenue in 2022 was $39,618.
Who are the executives of Ottawa Library Endowment Fund Inc and what are their salaries?
There 7 volunteers at Ottawa Library Endowment Fund Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Ottawa Library Endowment Fund Inc?
Ottawa Library Endowment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ottawa Library Endowment Fund Inc
The Ottawa Library Endowment Fund Inc, as a nonprofit organization, is dedicated to managing funds derived from donors, wills, bequests, or gifts, and property entrusted to them. Their primary mission is to support the Ottawa Library, a public library located in Ottawa, KS. This support includes the acquisition of land, construction of a new facility, and assisting in maintaining the physical properties of the library. By doing so, the Ottawa Library Endowment Fund Inc contributes to the preservation and enhancement of the library's resources, ensuring it continues to serve its community effectively.
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Impact
August, 2024
The impact of the Ottawa Library Endowment Fund Inc is in providing continuous management of moneys derived from donors, wills, bequests, or gifts, and property entrusted to support the Ottawa Library, a public library in Ottawa, KS. This management ensures a stable fund for the acquisition of land, construction of a new facility, and maintenance of the physical properties of the library. Ultimately, the fund contributes to the enhancement and sustainability of educational resources and services offered by the Ottawa Library, benefiting the community and fostering a culture of learning.
This information is meant to be a general summary of Ottawa Library Endowment Fund 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: $23,506
- Gross Receipts: $71,270
Assets and Liabilities:
- Total Assets: $686,283
- Total Liabilities: $0
- Net Assets: $686,283
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Organization Details
Phone
(785) 242-3080Principal Officer
Tom Shrimplin
Main Address
105 S HICKORY ST, OTTAWA, KS, 66067
NTEE Category
Code: B12 - Education
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